I just ran across another recent article that supports the belief that our area isn't doing poorly as the national news indicates most of the country is. In fact, while we've been fortunate to have area prices that have been fairly flat for the last year or two (they've been falling in much of the US), the article by the Collin County Assoc. of REALTORS (CCAR) indicated that in July area home prices were up almost 2% over July of last year! I don't know that this one finding means we're on the fast-tract to recovery, but at least this indicates that the worst may be behind us and home values may be again ready to rise. Of course, some experts disagree and feel that the rise is just an anomaly and the waves of adjustable rate mortgages adjusting over the next year or two, among other factors, could continue to suppress area home prices and fan the flames of foreclosure for quite some time. I'm hopeful that recent federal government actions to correct these issues, and the continuing strong local job market and economy, will help keep the local housing market headed in the right direction. The entire article is posted below (FYI) from the CCAR e-newsletter (8/29/08):

July Home Sales Prices Up Nearly 2 Percent in Collin County and Surrounding Areas

The median sales price of homes in Collin County and surrounding areas hit $183,500 in July 2008, up 1.9 percent over the same time last year, according to CCAR.

“This is very positive news for home sellers in the area,” says Steve Haid, CCAR Member Services Director. “Unfortunately, the rest of the market news is not as positive, as the number of new listings, listings under contract and closed sales are all down, compared to 2007.”

The CCAR Pulse, which delves into the real estate markets of 36 local communities, also reports that it took 91 days to sell a home last month, as compared to 69 days in July 2007. In addition, mortgage rates continue to rise slightly, but still remain very attractive at 7 percent, compared to 6.9 percent at this time last year.

North Texas is still experiencing a relatively balanced real estate market. This news is especially good for sellers, since there is not a large oversupply of homes on the market, unlike many other places in the nation. For buyers, a relatively low inventory, a high affordability index, and stable interest rates mean that the local market remains very affordable compared to most other areas of the country.

“While our local real estate market is not as brisk as recent years, it is still very strong and will likely rebound before too long,” notes Haid. “We have a strong local economy, a growing population, attractive interest rates, and very affordable housing. That combination is the recipe for a healthy real estate market.”
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So, while we're not out of the woods yet, things might just be looking up. It should be noted that some of CCAR's article (based on July numbers) is already out of date with mortgage rates falling again slightly in recent weeks closer to 6.5% (rates have been very volatile of late). So, check with a knowledgeable REALTOR and a solid mortgage professional to get the latest scoop on home prices and rate trends in your local area.

Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com

I just read another article that says that our economy in Texas is doing well, especially in comparison to most of the nation. Economy.com rates most major metropolitan areas in Texas, like Dallas, Austin, Houston, San Antonio, with their strongest rating of "Expansion" rather than much of the country which is listed as "In Recession", "At Risk", or "Recovery". The entire list of states and metro areas with current ratings can be found here at Economy.com. Check out the article and Texas ratings as of this blog entry's publish date below:

U.S. Regional Recession Status

Stay abreast of the recession with Recession Watch

Moody's Economy.com classifies the current economic status of U.S. states and metro areas using four categories: "In Recession", "At Risk", "Recovery", or "Expansion". The evaluation of recession status is based on a six month test of either contraction or expansion. The six month test compares the six-month moving average in the current period to the six-month moving average in the period six months ago.

For a geography to be considered "In Recession", the six month test must show it to be in contraction. Furthermore, the coincident indicator cannot have yet reached a trough. If a trough has been reached, the economy has shifted from "In Recession" to "Recovery".

If the six month test shows the geography to be in expansion, then its status is either "Expansion" or "At Risk". The economy is only in "Expansion" when the coincident indicator has yet to reach a peak. If it appears that a local peak may have been reached and the coincident indicator is increasing but at a decreasing rate, then the economy is placed "At Risk".

Given the current slowing in growth driven by waning housing markets and weakness in manufacturing, it helps to have a gauge for where these fault lines are developing as there are varying levels of vulnerability across the country. This metric of recession status is just one of many ways of seeing where these problems lie.

Texas	Expansion Rating
Abilene, TX Metropolitan Statistical Area	Expansion
Amarillo, TX Metropolitan Statistical Area	At Risk
Austin-Round Rock, TX Metropolitan Statistical Area	Expansion
Beaumont-Port Arthur, TX Metropolitan Statistical Area	In Recession
Brownsville-Harlingen, TX Metropolitan Statistical Area	At Risk
College Station-Bryan, TX Metropolitan Statistical Area	Expansion
Corpus Christi, TX Metropolitan Statistical Area	Expansion
Dallas-Plano-Irving, TX Metropolitan Division	Expansion
El Paso, TX Metropolitan Statistical Area	Expansion
Fort Worth-Arlington, TX Metropolitan Division	Expansion
Houston-Sugar Land-Baytown, TX Metropolitan Statistical Area	Expansion
Killeen-Temple-Fort Hood, TX Metropolitan Statistical Area	Expansion
Laredo, TX Metropolitan Statistical Area	Expansion
Longview, TX Metropolitan Statistical Area	Expansion
Lubbock, TX Metropolitan Statistical Area	At Risk
McAllen-Edinburg-Mission, TX Metropolitan Statistical Area	Expansion
Midland, TX Metropolitan Statistical Area	Expansion
Odessa, TX Metropolitan Statistical Area	Expansion
San Angelo, TX Metropolitan Statistical Area	At Risk
San Antonio, TX Metropolitan Statistical Area	Expansion
Sherman-Denison, TX Metropolitan Statistical Area	Expansion
Texarkana, TX-Texarkana, AR Metropolitan Statistical Area	Expansion
Tyler, TX Metropolitan Statistical Area	Expansion
Victoria, TX Metropolitan Statistical Area	Expansion
Waco, TX Metropolitan Statistical Area	Expansion
Wichita Falls, TX Metropolitan Statistical Area	At Risk

So remember, while the local news may be all doom and gloom in the economic and housing market, their information is generally based on national statistics... but real estate is local. What's going on around the country doesn't mean that same thing is happening in your city. In fact, real estate is so local that what is going on in another neighborhood just a few miles away may be vastly different than what's happening your neighborhood. To find out what's really going on in your area, ask an expert... a knowledgeable, trustworthy REALTOR®.

Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com

I must say, I'm quite excited about the latest press release I read a day or two ago. I've known about this for a few months now, but I was sworn to secrecy until the formal announcement was made. Well, it's official... the latest addition that was just announced to the lineup at The Village at Allen (190 and Stacy Rd.) will be: Uncle Julio's (opening October 6th). Besides serving GREAT Mexican food (some the best fajitas and most wonderful ceviche around), you simply have to try one of their stupendous swirls. The Uncle Julio's Swirl is a frozen feast of margarita and sangria that is sure to make even the hardest working area residents forget their troubles... even if just until happy hour is over. I'm serious though, I can't wait! The nearest Uncle Julio's at present is in the North Dallas/Addison area or the one in downtown Dallas. Allen is really coming into our own with great shopping, dining, and more and Uncle Julio's is further proof of just that. Check out the press release: 

UNCLE JULIO'S TO OPEN IN ALLEN OCTOBER 6

Restaurant is company’s first location in Collin County

ALLEN, Texas -- Let the aroma of smoky grilled fajitas or sizzling shrimp brochettes lure you. Savor the full flavor that only freshly picked ingredients can produce in the roasted vegetables and spicy salsa. Taste the authentic border flavor in the marinated beef skirt steak, or the uniquely grilled quail. A custom margarita, created from your choice of more than 15 different tequilas, awaits your first sip. Festive surroundings, attentive wait staff and lively music make Uncle Julio’s an engaging experience.

The fiesta begins October 6, when Uncle Julio's opens its newest restaurant in Allen, Texas. Located in the Village at Allen at 190 E. Stacy Rd., this location is the company’s 13th restaurant and its first in Collin County.

In addition to serving lunch, dinner and weekend brunch, the Allen location will also cater home and office parties -- serving fresh, mesquite grilled favorites cooked on the spot.

The newest Uncle Julio's will feature the same combination of Mexican cooking expertise with Texas ingredients that coined a style of food based on America's oldest regional cuisine. Uncle Julio's stays loyal to its heritage by offering high-quality food that mirrors the original fare cooked by cowboys on the plains more than a century ago.

Specialties at Uncle Julio's include Fajitas al Carbon; Camarones Brochette (bacon-wrapped jumbo shrimp stuffed with Monterrey Jack cheese and jalapenos); Quail a la Parilla, mesquite grilled to perfection; and the Swirl margarita, a frozen margarita layered with homemade frozen sangria.

Modeled after a 100-year-old hacienda, the new restaurant features a spacious outdoor patio, a sports room/bar area for appetizers featuring a 60-inch TV, and cozy interior and exterior fireplaces. The interior consists of several rooms decorated with a mixture of wood, plaster, polished concrete and cantera stone. Large windows, authentic large hand hewn beams, hand-painted murals and a variety of fresh colors blend to create a perfect setting for fun and great food.

"This new restaurant illustrates our commitment at Uncle Julio's to making the finest food and the best dining experience available for our guests. First and foremost we want to run the best restaurants, and only then do we turn our attention to growth, and opening more restaurants," said Todd Conger, president and chief operating officer. "With Collin County’s growth, we’ve selected a thriving area for our newest location."

"Uncle Julio’s will add to the diverse mix of restaurants at The Village at Allen and The Village at Fairview, providing a festive environment for our guests to enjoy outstanding Mexican cuisine," said Gar Herring, president of The MGHerring Group.

The Village at Allen is one component of The MGHerring Group’s three-million-square-foot, regional, mixed-use lifestyle development located in both Allen and Fairview, Texas, at the intersection of U.S. 75 and Stacy Road. The Village at Allen and The Village at Fairview will be separated by Stacy Road but are designed and being developed as one project.

The first Uncle Julio’s (www.unclejulios.com) opened in Dallas in 1986 and with the opening in Allen, Uncle Julio’s Corporation will operate 13 restaurants in four major metropolitan areas: Dallas/Fort Worth, Chicago, Atlanta and the Washington, DC, area. Uncle Julio's provides the freshest and highest quality "border style" Mexican food in large, reasonably priced portions. The company’s mission, creating hospitality, fun and value, shows in everything from the food to the atmosphere.

Contacts: Suzanne Flodin, suzanne@hopkinspr.com; (214) 500-4289

Deena Killlingsworth, deena@hopkinspr.com, (972) 202-3497

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Again, though they have LOTS of great food, let me recommend the ceviche to start, beef and chicken combo fajitas for your meal, and a superb swirl (or two) to wash it all down. See you at the grand opening fiesta... save me una silla!

Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com

The third and final in this series of "Cool" places to be this summer is below. Be sure to check out number one and two in related articles.

Number three: The Don Rodenbaugh Natatorium. The natatorium is an awesome, affordable place for year-round aquatic fun, fitness and more. Here you'll find both land and aquatic fitness classes, open swim times for the general public, small class size swim instruction, Red Cross certification classes for Lifeguard and Water Safety Instructor, room rental for hosting birthday parties, and an indoor rock climbing wall for all ages. Because the pools are indoors, even cold or rainy weather won't ruin your outing.

Don Rodenbaugh Natatorium contains 7,000 square feet of leisure waters, a 25-yard by 25-meter competition pool, 5,000 square feet fitness facility, an aerobics room, a climbing wall, and related support facilities. One of the two pools is a competitive pool with two 1-meter diving boards and the other is a leisure pool featuring a flume slide, interactive water play elements (spray ground), and a lazy river. The leisure pool also has three 25-yard fitness lanes, a heated spa and a large outdoor deck.

Cost: Anywhere between FREE and $5, depending on your age. Memberships are available to save money for frequent visitors. For more information including hours, go here: http://www.cityofallen.org/departments/parks_recreation/recreation/don_rodenbaugh.htm

Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com

Just saw this press release from the developer (The MGHerring Group) about a Whole Foods Market® coming to The Village:

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The MGHerring Group has announced that Whole Foods Market® will join the retail line-up at The Village at Fairview, one component of the 3,000,000 square-foot, regional, mixed-use lifestyle development located in both Fairview and Allen, Texas.

Whole Foods Market®, the world's leading natural and organic foods supermarket, will occupy 45,000 square feet at The Village at Fairview. It joins the project's 1,000,000 square-foot retail component, which includes anchors Dillard's, Macy's, JCPenney, The Container Store and Barnes & Noble.

The Village at Fairview includes 500,000 square feet of specialty shops and restaurants; a 200,000 square-foot, class-A office building; approximately 675 multi-family residential units; a 280-room hotel with an adjoining 80,000 square-foot conference center; and an eight-screen Village Roadshow Gold Class Cinema.

"Adding the country's preeminent specialty grocer to The Village at Fairview fulfills one of the final pieces of making this development a true mixed-use project," said Gar Herring, president of The MGHerring Group. "Executing a lease with Whole Foods Market is another thrilling achievement for The Village at Fairview as we continue to exceed people's expectations for our project."

The Village at Fairview will open August 5, 2009. Construction will begin on Whole Foods Market® later this year. Falcon Realty Advisors, a division of Falcon Companies, negotiated the deal on behalf of Whole Foods Market®.

The Village at Fairview is being developed in conjunction with The Village at Allen. The site for the mixed-use development is located on 400 acres at the northeast and southeast corners of Stacy Road and US 75 in Collin County. The Village at Fairview and The Village at Allen will be separated by Stacy Road but are being designed and developed as one project.

Together, The Village at Fairview and The Village at Allen comprise the largest mixed-use development in Texas and also one of the largest in the United States. Upon completion, the project will include 2,000,000 square feet of retail and 1,000,000 square feet of office, residential and hotel space.

About Whole Foods Market®
Whole Foods Market® (www.wholefoodsmarket.com) is the world's leading natural and organic foods supermarket and America's first national certified organic grocer. In fiscal year 2007, the company had sales of $6.6 billion and currently has more than 270 stores in the United States, Canada, and the United Kingdom. Whole Foods Market® employs more than 53,000 Team Members and has been ranked for 11 consecutive years as one of the "100 Best Companies to Work For" in America by FORTUNE magazine.

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Between Market Street, Whole Foods, and Super Target, there will be a whole new world of grocery shopping for local residents.

Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com

Tax free weekend is coming soon: August 15-17, 2008. I just found this great info. about it on a state website (courtesy of my friend Tracey Cline who helps keep me in the loop). I hope it helps you save money:

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