Sam White's College Station Real Estate Blog

Good morning,

Below, please find this week's real estate news from the Real Estate Center at Texas A&M University. Noteworthy, are this links to the Real Estate Center's podcast and the ability to subscribe to the newsletter at the bottom of the post. Texan's are fortunate to have such a wealth of information available to them.

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RECON Real Estate Center Online News May 21, 2010 Copyright 2010. All rights reserved. Material herein is published according to the fair-use doctrine of U.S. copyright laws related to non-profit, educational institutions. Items attributed to sources other than the Real Estate Center at Texas A&M University should not be reprinted without permission of the original source.

SUGAR LAND HITS HOME RUN SUGAR LAND (City of Sugar Land) – The City of Sugar Land, along with Opening Day Partners LLC, has announced plans for a $30 million stadium to house its new minor league baseball team. The stadium will be a flexible multi-use facility that will be used year-round for college and high school baseball tournaments, concerts and various community events. A cost-benefit analysis shows an annual benefit of $7.7 million or a total return of $169 million over a span of 30 years. Funding for the stadium will partially be drawn from sales tax revenue that was approved during a special election on Nov. 4, 2008. Sugar Land’s new baseball team plans to take the field in April 2012.

DPS PULLS OVER IN WESLACO WESLACO (Mid-Valley Town Crier) – Ground broke last week on the Texas Department of Public Safety’s new regional headquarters in Weslaco. The city's economic development corporation donated 20 acres near FM 1015 and Mile 9 for the new 110,000-sf facility, slated for a summer 2011 completion. “It will provide more security for Weslaco. It will be good for the economy as well,” said Jose C. Rodriguez III, DPS regional commander. “Two-hundred twelve employees will be housed in this office, many of which will be from Weslaco.” The complex will include three separate buildings, a two-story headquarters building, a drivers license facility and an ancillary building.

NEWS TOUR DE TEXAS COLLEGE STATION (Real Estate Center) – Take a quick tour of the latest Texas real estate news on this week's edition of the Real Estate Red Zone podcast. Hosts Bryan Pope and Edie Craig travel to the state's major metros as well as to Paris, Odessa, Waco, Midlothian, South Padre Island and Boerne. You can listen to the free podcast from your computer by going to recenter.tamu.edu/podcast and clicking the “play” button beneath each episode. To subscribe, click on the RSS feed found on the podcast page. You can also subscribe through iTunes and download each episode to your iPod. So grab a cup of coffee and join us in the Red Zone. And be sure to tell your friends about us.

HOUSTON HOME SALES TAKE OFF IN APRIL HOUSTON (Houston Business Journal) – Sales on existing single-family homes in the Houston area totaled 5,321 last month — a 26.7 percent increase over the 4,199 homes sold in April 2009. The largest sales jump appeared in properties priced above $500,000. The average price of a single-family home appreciated to $206,414, up 6.8 percent from April 2009. This is the second month in a row for a rise in sales and the seventh consecutive month for an increase in home prices for the Houston area.

SYSCO TO EMPLOY MORE HOUSTONIANS HOUSTON (Houston Chronicle) – Sysco Corp. has acquired the 669,000-sf facility at 24500 Northwest Fwy. on US 290. The 100-acre site, formerly the Hewlett Packard customer call center, will now be home to a shared services center for the food service supplier. The center is expected to create up to 2,000 positions, many of which will be filled by individuals in the Houston area. ALAMO

CITY HOME SALES UP, PRICES DOWN SAN ANTONIO (San Antonio Express-News) – At the end of April, there were 2,189 pending existing home sales in the San Antonio area, up almost 40 percent from April 2009. The median home price dropped 3.8 percent to $143,000. Almost 75 percent of homes sold in April were priced under $200,000. The average number of days a home was on the market in April was 90, a decrease of six days compared with April 2009.

RETREAT TO LUBBOCK LUBBOCK (GlobeSt.com) – Landmark Properties and Harrison Street Real Estate Capital LLC have partnered to develop a $42 million student housing project near Texas Tech University. Wells Fargo Bank has committed to providing construction debt for the project, named The Retreat Lubbock. The 218-unit development is scheduled for a fall 2011 completion and will offer a mix of two-, three-, four- and five-bedroom cottages averaging almost 1,800 sf.

ACC BRANCHING OUT MORE ELGIN (Austin Business Journal) – The Austin Community College (ACC) District signed a deal to purchase 98 acres in Elgin after buying a 100-acre plot in Leander less than a week ago. Elgin ISD is considering joining the ACC taxing district along with Bastrop, Hays, McDade ISD and San Marcos CISD. If the city is annexed into the district, the 98 acres will be home to the future Elgin-Austin Community College campus. “ACC’s land-banking strategy is a forward-looking effort to acquire potential campus sites within the college’s 7,000-square-mile, eight-county service area. Changing demographics as well as increasing demand for workforce degrees and certificates are driving dramatic enrollment increases,” ACC President and CEO Stephen B. Kinslow said. If the annexation effort is successful, the first phase of the Elgin’s campus construction will be set for completion in 2014. For more information on ACC's Leander purchase see "ACC Branches Out" in the May 14, 2010, issue of RECON.

ARMY'S NEW HEALTHY DEVELOPMENT COMPLETED SAN ANTONIO (San Antonio Business Journal) – Satterfield and Pontikes Construction Inc. has completed construction on its 132,000-sf primary health clinic at Fort Sam Houston. The $34.9 million health center will provide inpatient, outpatient and specialty health care services for service duty soldiers, relieving the patient load from the post’s existing medical facilities. The U.S. Army Corps of Engineers awarded the contract and oversaw construction. In addition to the clinic, almost $3 billion in military construction, primarily at Fort Sam Houston, is being invested in San Antonio military bases.

MERCEDES-BENZ PARKING AT GRAPEVINE GRAPEVINE (Fort Worth Star-Telegram) – Groundbreaking ceremonies for the new Park Place Mercedes-Benz facility in Grapevine happened Wednesday. The multimillion-dollar project at 1300 Texan Trail and Hwy. 114 will include a 27,000-sf showroom with space for 15 vehicles, a 37,000-sf service shop with 71 service bays and a 20,000-sf Park Place BodyWerks paint and body shop. Construction on the 20-acre site is expected to be completed by August 2011. Good Fulton & Farrell of Dallas is the project architect. Hill & Wilkinson of Plano is the contractor.

'SIGNS OF STABILITY' FOR COW TOWN, TEXAS, NATIONAL HOME PRICES FORT WORTH (Fort Worth Star-Telegram) – Prices of existing homes in Fort Worth-Arlington increased 0.75 percent in March compared with last year, according to the CoreLogic real estate research firm. Overall, Texas had a 2.2 percent increase while there was a 1.7 percent increase nationwide. “In more than half of the 100 markets surveyed by CoreLogic, home prices increased from March 2009. The year-over-year increase is a sign of stability,” said Mark Fleming, CoreLogic’s chief economist.

DOWNTOWN WACO'S NEW MIXED-USE DEVELOPMENT WACO (Waco Tribune) – An $18 million mixed-use development is planned for the east side of Franklin Ave. between South Sixth and Seventh Streets. The developer of Franklin Place is 921 Partners LLC. Waco's tax increment finance zone board approved $2.5 million in tax benefits for Franklin Place. Construction is set to begin in two to four months. Four buildings on the property will have to be removed to make way for the four-story building which will include commercial and residential units. Turner said 20 percent of the development will be used for commercial business while the remainder will be housing units available for leasing.

LANDCORE ADVANCES WITH TIMBERCREEK FLOWER MOUND (GlobeSt.com) – Pending city approval, Landcore Development plans to break ground this fall on phase one of a two-building medical office development next to Texas Health Presbyterian Hospital on FM 2499. The $20 million Timbercreek Medical Park will total 120,000 sf in two 60,000-sf Class-A buildings. Once 75 percent of the first building is leased, at an asking rate of $22 per sf, the firm will begin on the second three-story building. In addition to the two buildings, land for a three-acre park for patients and staff as well as covered parking has been included in the design. VERUS Real Estate Advisors will handle leasing on the property.

BEAN PLANT SPROUTS NEW OWNER FORT WORTH (GlobeSt.com) – Allens Inc. has purchased the former 211,743-sf Ranch Style Beans facility at 1734 East El Paso St. from ConAgra. The property was appraised at $15 million, according to the Tarrant County Appraisal District and is on 20 acres close to the downtown area. The family-owned vegetable processing plant is expected to be operational by June 15. HOUSTON'S

COMMERCIAL PROPERTY SALES DROP 50 PERCENT HOUSTON (Houston Business Journal) – The Bayou City’s commercial property sales dropped 50 percent in the last 12 months, according to research firm LoopNet Inc. Last year’s cycle, ending in March 2009, had sales totaling $4.7 billion while this year’s reached $2.36 billion. However, the price per sf of industrial property improved to $65 compared with $45 last year. The price per sf of Houston’s office and retail markets this year dropped from $172 to $110 and $143 to $69, respectively. The city’s multifamily market showed a $3 million difference in deals closed between the two cycles and an increase of purchase price from $42.2 million to $56.3 million.

@ THE CENTER To subscribe or unsubscribe to RECON or to view back issues go to the Real Estate Center's website. To send news items for consideration, e-mail Bryan Pope. The Real Estate Center is part of the Mays Business School at Texas A&M University in College Station - the heart of the Research Valley.

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Enjoy and have a great Sunday!

Sam White
MarketReports.SamWhiteRealty.com
979-589-4487

Happy Friday!

I'm pleased to report that we've brought a new Website on-line, with enhanced search functions and an automated comparative market analysis tool.

The enhanced search functions featured on BrazosValleyPremierHomes.com allows clients and prospective clients to save searches for Brazos Valley real estate, as well as have current and new listings emailed to them. The functions are completely automated, so browsers don't have to speak to an agent. The site also features several Quick Searches, allowing clients to search major real estate categories, such as Premier Homes, Single-Family Homes under $150,000 or Condominiums with just one click. 

Another neat tool is our automated, free Comparative Market Analysis. Please note: this tool will not produce an accurate market value of your home. I should merely serve as a preliminary point of reference. Valuing real estate is a complex process and I would be glad to follow-up with you to provide a more accurate market analysis of your home with no obligation. That said...stick your address into the tool and see what happens. No one will write or call!

BrazosValleyPremierHomes.com is designed as a companion site to SamWhiteRealty.com, which will undergo a redesign in 2010. You can still find current local and national market information at MarketReports.SamWhiteRealty.com, as well as Texas A&M housing information for parents and students.

If you, or someone you know, is looking for a home in Bryan or College Station, I hope you'll refer them to Search.SamWhiteRealty.com, one of few local real estate search engines that allow clients to save their searches.

Blue skies,

Sam White
979-589-4487
twitter.SamWhiteRealty.com
facebook.SamWhiteRealty.com

Good afternoon,

I spent my morning leading a Social Media Best Practices class for a large state agency headquartered here in the Brazos Valley. The agency is unique, with several distinctly different divisions, each with their own competitive client base. It was a good time.

My emphasis today was on owning a toolkit, with several different tools (platforms) in the kit. Different businesses will use these tools in different ways. Twitter is a perfect platform for some businesses. For others it may be lost time. By having all the platforms in the kit, or at least a working knowledge of each platform, you'll have the right tools for whatever job comes along.

I also emphasized that users must put personal bias aside, and treat the platforms as business tools. "I won't do twitter," tells me that you aren't serious about your business. For real estate, there are times when twitter is the right tool.

Remember, this is all about the conversation. If you aren't having a conversation, you might as well be advertising in the newspaper and faxing out press releases. That train left the station a long time ago.

Interested in social media? Wondering what I'm teaching this week? Follow @mediafrontier on twitter!

Blue skies,

Sam White
NewTechTraining.info
979-589-4487

Hi everyone,

Every year we have an internal meeting to review the best properties for folks who are limited to $120,000 or less. One property type I always watch for is something around $100,000 that I would feel comfortable putting my mother or child in. In houses, those are few and far between, although we usually score a couple every summer. The real answer lies in condos.

There are currently several complexes in Bryan and College Station priced at $100k or less. Most were built in the early 1980's and some are showing some wear. The best of them anticipated the repairs and have already replaced siding and dealt with the issues of a 25 year-old building. Some are located in cool, semi-urban areas.

Since we do a good condo business, we've set up some direct searches for our clients. This search platform is great because not only can you save your searches, you can get automatic emails when listings come on the market.

BCScondos.com     Search all Condo Listings
FoxRunCondo.com
WoodbrookCondo.com
WoodsmanCondo.com
AggielandDuplexes.com    Search all Duplex Listings

We also have two nice homes in the $125k range, one in Bryan and another in College Station.

Remember, you can get the latest market information at MarketReports.SamWhiteRealty.com.

Blue skies,

Sam White
Parents.SamWhiteRealty.com
979-589-4487

Dear readers,

It's graduation time in College Station again, as a record class of seniors prepare to graduate this weekend and go out into the world. This is the end of a tunnel that parents saved for, and kids anticipate almost as much as the parents.

For locals, graduation is sometimes a bit bitter-sweet. Yes, as permanent residents of the Brazos Valley there is no way we can do without the money that students and parents bring to Bryan and College Station. Texas A&M is the machine that makes our community go.

But more than that, we'll miss many of the kids that have graced our lives for four-plus years. I love college towns, and the students that keep them young. Their youth and enthusiasm, as well as naivety, bolsters my attitude toward life.

Ok. There are some things about youth that aren't exactly perfect. Like the cars and trucks that almost 50,000 Aggies bring to our community. I emphasize trucks. When I came to A&M in 1983 I drove my 4WD Bronco. I didn't really have a use for my horse-trailer pulling, get out of the mud vehicle anymore, but it was part of me. I swear there are at least 30,000 3/4-ton trucks in this town. And, maybe the kids don't take care of their yards that well.

Mostly, I love the kids for what they do with our family. You see, we have a twelve-year-old with Down Syndrome, and the students of Texas A&M boost his life daily. Project Sunshine is a national student organization that works to make the lives of children with disabilities as normal as possible. Quentin gets a buddy every year that spends hours with him, both as a peer model and a friend. The organization has at least one activity every month that gets the kids out of the house and school, and just allows them to have fun.

This year's group was great, and as we see the seniors leave town one by one, I can't help but be a bit selfishly sad. I'm not going to name names, because there are too many of them and I don't want to take a chance of leaving anyone out. Just know that you are deeply appreciated and will be missed terribly. We feel better knowing you are headed into the world and will have the opportunity to change other lives.

There is one other very special person in Quentin's life that I have to mention. Kristi has spent two days a week with Q for the last two years. I can't say enough good things about Kristi and her relationship with us. We'll get Kristi back for two more semesters in the fall before we lose her permanently. Next year at this time it will be very tough.

Finally, thanks to all of the Aggie parents that saved and worked to get their kids this far. Each of you have done an excellent job, and we know that without your love, patience and money, their graduation would not be possible.

So, go. Be careful, especially on the roads. Keep in mind the sacrifices that were made to get you where you  are, and the deep appreciation the White family feels for the contribution you've made to our lives and the community.

Blue skies,

Sam White
MarketReports.SamWhiteRealty.com
979-589-4487

Dear readers,

One of the small blessings of our Bryan College Station community is the Farmer's Market, typically every Saturday in Downtown Bryan. It's great to see the same vendors, week after week, proud of their products and happy to talk about them.

Today is a special market, with their "Market to Menu Celebration" from 8:00am until noon. "Learn how to transform your fresh local veggies from the Brazos Valley Farmers' Market into a spectacular meal your whole family will love! Chef Rachel from the Village Cafe will be demonstrating food preparation techniques from 9:30 to 11:30. In addition to the demonstration, Pam Walker, author of Growing Good Things to Eat in Texas will be on site to sign books from 10AM-12PM, getting you even closer to all your local food favorites. The event will continue at the Village Cafe with a Locavore lunch and talk by Pam Walker."

We have many fine restaurants in the Brazos Valley, and it always makes an impression on me when chefs from the restaurants shop at the  market. Unfortunately, we don't see enough of them there. Village Cafe is the exception! Not only do the talk the talk, they walk the walk!

Wander down to Bryan, get some great food and visit with the producers. We'll see you there!

PS- Don't forget to get some great, What's the Buzz Coffee, roasted locally. That's how I start my day!

Blue skies,

Sam White
MarketReports.SamWhiteRealty.com
979-589-4487

Dear readers,

It is a happy time of year in College Station, as thousands of young adults receive their diplomas from Texas A&M University. It's also a great time to be in real estate, as thousands of parents are in town, selling and buying properties on behalf of their kids.

For visitors and locals alike, here is this May's graduation schedule:

May 2010 Commencement ceremonies on the College Station campus for the spring semester of 2010 will be held May 14 and 15. The ceremonies will be conducted in Reed Arena unless otherwise noted.

• Commencement Convocation Thursday, May 13, 5:30 p.m. Location: Reed Arena Speaker: Gen. David H. Petraeus, U.S. commander in the war against terrorism in the Middle East and Central Asia
• The commencement exercises at which degrees will be conferred will follow in subsequent ceremonies on May 14 and 15.
• Students will not be required to wear academic regalia at the convocation ceremony, but will need to do so at the subsequent actual degree-granting exercises.

The Commencement Convocation with keynote speaker will require a ticket for admission. The free tickets, now being dispensed at the MSC Box Office on the ground floor of Rudder Tower, are available to the general public as well as to the estimated 6,000 graduates and their families and friends. The deadline for picking up tickets is May 7. Thursday, May 13, 2:00 p.m. Location: Rudder Auditorium

• Doctor of Veterinary Medicine Friday, May 14, 9:00 a.m.
• Graduates and Undergraduates in Geosciences
• Graduates and Undergraduates in Liberal Arts Friday, May 14, 2:00 p.m.
• Graduates and Undergraduates in Agriculture and Life Sciences
• Graduates and Undergraduates in Architecture Friday, May 14, 7:00 p.m.
• Graduates in George Bush School of Government and Public Service
• Graduates and Undergraduates in Dwight Look College of Engineering Saturday, May 15, 9:00 a.m.
• Graduates and Undergraduates in Mays Business School
• Graduates and Undergraduates in Veterinary Medicine and Biomedical Sciences Saturday, May 15, 2:00 p.m.
• Graduates and Undergraduates in Education and Human Development

Graduates and Undergraduates at Texas A&M - Galveston

• Graduates and Undergraduates in Science Saturday, May 15, 9:00 a.m. Location: Moody Gardens Convention Cente

A full schedule can be found on the University's Website Graduation.TAMU.Edu.

Congratulations to graduates of Texas A&M Qatar, who have already received diplomas!

Blue skies,

Sam White
Parents.SamWhiteRealty.com
Students.SamWhiteRealty.com