Life Science Space Rentals

Posted on April 23, 2019 by Patrick StCin

Austin

Texas has not been on the list of the top life Science research hubs, but it could be according to an article by Chris Davis of KXAN, a post on the Austincc.edu website.

Central Texas has a need and it is something commercail real estate investors can help with. Central Texas needs for wet lab space for a growing life science industry. One example of the possibilities is the Austin Community College’s (ACC’s), Austin BioScience Incubator (ABI), a State-of-the-Art facility that leases space and equipment to start-up life science companies. The ABI is booming with 16 companies leasing space. Three companies have moved on, outgrown the facility.

Science/Business Incubator

This science business incubator was born out of an approximate 9,500 sf renovation of the iconic Highland Mall in Central Austin, TX. According to its website, the facility features 4,000 sf of wet labs, two ISO I clean rooms, open workspace, conference space, and support offices. Member companies have access to core laboratories and instrumentation.

Mission

The ACC Bioscience Incubator aims to expand on previous successes by establishing a permanent wet lab facility and business incubator to accelerate Central Texas’ biotechnology economy while training a skilled workforce

Austin Community College

The Austin Area Life Science economy was spurred to new growth by the University of Texas at Austin’s Dell Medical School. Austin is now home to more than 240 bioscience companies, according to the Austin Chamber of Commerce, employing 15, 000 workers.

Growing Industry

The life science business is not likely to go anywhere but up in the future. Life science industries involve everything about life including health care for an aging population and DNA research, as well as pharmaceutical research, tissue fabrication, sanitation and food safety, genetics for preventing disease, and nanotechnology for medical devices, computer modeling, and imaging technologies. This industry has been adding jobs since 2000, 5 times faster than the US economy, according to a report by Cushman and Wakefield published in January 2019.

Adaptable Space

This is an interesting type of real estate to look at for an investment. The key factors in investing in commercial real estate to renovate and rent to life science businesses is that the space needs to have both office space and wet lab space. It needs to be efficient and adaptable space for housing imaging technologies, clean rooms, collaboration, and storage, preferably near universities and cultural amenities to attract and retain scientific talent.

Photo by Pixabay on Pexels.com

REI Capital Resources is a funding source for SFR Fix-n-Flip, Fix-to-Rent, and Refinance projects as well as larger commercial projects such as office buildings, 5-40 door multi-family buildings, and many others. These programs vary wide and far throughout the gamut of lending. Call or e-mail for more information.

Patrick St.Cin
W – 512-213-2271
Patrick@REICapital.cash
Info@REICapital.cash

References

Life Sciences: Limited Supply, Increasing Demand Driving Increased Real Estate Costs, 1/31;2019, ww.cushmanwakefield.com/en/news/2019/01/life-sciences-report

Life Science Space Continues to Be in High Demand with Low Vacancies and Rising Rents, National Real Estate Investor, Patricia Kirk, April 22, 2019.

Where scientific breakthroughs happen: Three trends shaping labs of the future JLL , Mike Romer, Chicago, February 15, 2018

“Focused on Funding Your Success”

In the Path of a Storm

Posted on April 9, 2019 by Patrick StCin

Alert: Harvey, Irma, Rita, Katrina

Don’t worry, it is not hurricane season yet. However, there are things you need to know now, before the storms approach.

I was just looking at reasons a real-estate investor might lose money on a fix-n-flip project or a vacation rental property deal and stumbled upon natural disasters as a possible cause of investment loss. After reading several articles and searching the real estate websites, I ran into tips for real estate investors facing an approaching natural disaster at yourflipcoach.com, Your Virtual Real Estate Coach. Be sure to visit Ryan’s site if you have a minute.

Insurance Binding
First, as a practical matter, it is very important to know that insurance companies will not bind a new policy or add additional coverage to an existing policy if a hurricane or large storm is headed for Texas. This is important for you to know if you are planning to invest in a property in Texas.

Make sure a hurricane is not on its way. Buy insurance that covers flood and wind damage and replacement costs, and don’t buy the property or the insurance if you can’t bind an insurance policy. Both you and your lender will want insurance on the property. Buy flood and wind insurance on your new property and make sure insurance binders are active well before the next storm.

Closings Disrupted
Second, when you have found a buyer and a storm is approaching, time the closing of the deal so that closing is complete well before the storm event. The storm can get in the way of your closing in so many ways. Following a storm, roads and properties may be damaged and inaccessible. Even if you are dry, routes in and out of your area might be blocked or flooded. You could lose your buyer because they cannot get to you or to the property, or because the property is damaged.

A study performed by the Federal Reserve Bank of Dallas concludes that the “typical hurricane raises real house prices and, to a lesser extent, reduces real incomes for a few years.”

New Business Opportunity 5 Years Out
Third, be ready for new business opportunities following a storm. Damaging natural disasters and the insurance money that comes into the market after they pass can create new opportunities for real estate investors. Some property owners may want to sell, particularly if they did not have insurance. Even if they are insured, many home owners will take their insurance check and sell the property for whatever they can get. Some lots are sold at land value after the home was removed; but once a house is rebuilt, it can be resold again at near the same price in future years (about 5 years).

aerial view atmosphere clouds cold front

Residential Prices Rise Because Housing is Needed
The value of property that is high and dry after a hurricane will increase because homes are lost or uninhabitable. Housing will be needed. And, buyers and investors will be seeking solutions.

An article in Forbes by Jordan Lulich points out that right after a storm, home sales go down because property owners are too busy cleaning up. According to his article, two months after Hurricane Harvey, 31% of residential neighborhoods saw an increase in median house prices here in Texas.

It is still smart to invest in real estate in hurricane prone areas because residential property values increase over time. Repair costs associated with storms are certainly worrisome. Just be sure to buy insurance that covers wind and water damage to protect your asset.

Please give me a call when you find that perfect investment, and I can help you fund the project.

Patrick St.Cin
512-213-2271
Patrick@REICapital.cash

References
Ryan Kuhlman, January 8, 2018, Natural Disasters and Real Estate Investing, https://yourflipcoach.com/natural-disasters-and-real-estate-investing/

Jordan Lulich, June 28, 2018, Does Hurricane Damage Negatively Impact Your Real Estate Value/
Forbes https://www.forbes.com/sites/jordanlulich/2018/06/25/does-hurricane-damage-negatively-impact-your-real-estate-value/#381ca6d5107b

Murphy, Anthony and Stroble, Eric, October 2010, The Impact of Hurricanes on Housing Prices: Evidence from US Coastal Cities. Federal Reserve Bank of Dallas, Research Department, Working Paper 1009, https://www.dallasfed.org/

Beautiful Fort Worth House in the News

Posted on February 28, 2019 by Patrick StCin

The home of LeAnn Behrens and David Montague in Fort Worth’s Park Hill neighborhood appears in the Wall Street Journal (wsj) three times, in film, in article, and in photos. I enjoyed all three mediums. The film was made by Rob Alcaraz. The article written by Alina Dizik, and the photos taken by Casey Woods Maddeaux.

Rebuilding After a Fire

David and LeeAnn completed their home in 2017 to replace the one that was lost in a fire when the fire in an outside grill on the deck spread to the house. This house is on the site of the old house. Out of this tragedy, the couple started from a clean slate, with the help of architect Michael Bennett, to build a home where they could display their collections and live and entertain.

A Video Tour

In the video, David leads viewers on a tour of the home from the front door with a welcoming, “Hello I’m David, welcome to our house,” as he opens the front door. The house he describes as a perfect combination for them, combines living areas, art galleries, a library, and museum in 6,000 square feet with 4 bathrooms and plenty of areas to entertain in.

David shows viewers some of the artwork displayed in the house, his collection of books, and some of the building techniques they used on the back deck, like the burned wood siding, a technique he says is from Japan. The burned wood is proper because it reminds them that the original house that stood there burned down. Also, inspired by their survival of the file are the designed-in multiple decks and multiple ways to get out of the house.

“It Makes Sense to Us”

The art and books are all things David and LeeAnn like and have purchased. “It makes sense to us, even if it may not to anyone else,” says David when pointing out some of the art that is paired with one another in the living room. The central gallery space includes more than 20 masks and two Day of the Dead-themed portraits by multimedia artist Dolan Geiman along with a commanding bird sculpture from Africa. Photos of the house can be found at
https://www.wsj.com/articles/a-fort-worth-home-built-around-a-couples-collections/

4,000 Books

Did I mention already that David Montague collects books? His collection of 4,000 books had to be rebuilt from scratch after the fire. The two-story library in his new home includes a fire place with a white plaster representation of the Continental Divide by a local artist and comfortable places to read. In the film tour, David explains that he is collecting some of the original works about the fur trade written by the original mountain men and how that inspired the Continental Divide plaster relief that extends from the first floor of the library to the second floor.

Some of the other interesting features of the house are glass walkways in the upper floor to foster a sense of connections throughout the home, a second-floor coffee bar outside the couple’s master bedroom that opens up to a second floor living room that overlooks the pool in the backyard.

A Red Stove & Day of the Dead Portraits

The pieces that really caught my eye were the red Bertazonni range that gives color to the modern grey-toned kitchen, the 4,000 books (did I say that already?), the two Day of the Dead portraits in the entry hall, and the African Ship sculpture in the living room that is just calling out to be touched.

Okay to Touch

The home does not have a “no touch” policy according to David like a museum would. David says that the art is “pretty much indestructible—they were built for a tribal setting.” As a tactile explorer myself, I am happy to hear that.

Take a look at this beautiful Texas home on the media you like best, or like me, watch, read, and view all three.

This rebuild was way more radical than a standard fix-n-flip, but don’t forget that you too can make a comfortable beautiful home out of a house, one that will hold and display your or your buyer’s treasures. I’m always on the look out for ways to make a fix and flip house stand out.

Let me know if I can be of help to you this month. I can be reached at

Patrick@InvestorsLendingSource.com

512-213-2271

Austin, Texas

References:

Dizik, Alina, 2019, A Texas Home That’s Part Library, Part Gallery, wsj

Maddeaux, Casy Woods, 2019, A Fort Worth home Built Around a Couple’s Collections, wsj photo article.

Alcaraz, Rob, 2019, A Home Built to Be a Live-In Museum and Expansive library, wsj video

Photo credit: Caroistda [CC BY-SA 4.0 (https://creativecommons.org/licenses/by-sa/4.0)%5D

Finding Houses to Buy and Owners to Sell — Strategy #3

Posted on February 15, 2019 by Patrick StCin

When you are looking for properties to buy and owners that are ready to sell, there is nothing like using all your contacts and making new contacts to help you find houses that are ready to buy and owners that are ready to sell. In this strategy you ask others to be a detective with you.

The Mail Carrier and the Dog Walker

Enlist the help of others who can refer you to people thinking about selling their place and moving on, including landscapers, general contractors, cleaning/maid services, dog walking services, pool cleaning guys, mail carriers, etc. There is a whole raft of professionals, like these, who regularly service homeowners. Get to know them, cultivate relationships, keep in touch with them; it can pay off big time for you and the seller.

Distressed Sellers

You can also draft a letter on professional letterhead and it into the hands of a real estate office in your area. Explain you are a real estate investor looking for distressed properties and can close quickly if the price is right.

You might ask, “What is a distressed property.” Well it is a distressed owner that makes a distressed property. An owner who really needs to sell for whatever reason becomes distressed when they cannot get the deal completed. We’ve listed some of these distressed owners in our previous blogs. They include people who can’t afford to make their mortgage payments and are under threat of foreclosure, people with tax debts that have required them to sell the property, and estate executors and estate lawyers for deceased property owners. They are all people, some facing divorce, some facing the loss of their job, some being transferred. They need to sell and often need to sell quickly below market value. You are willing to buy and that is a help to them. You are getting a great deal and they are unloading a headache. It is a potential win-win situation.

The Real Estate Army

By contacting the real estate agency, you can have an entire army of real estate agents working for you, free of charge. If one of them finds a property for you, the seller of the home will pay the agent’s commission. You owe them nothing; it comes off the seller’s side. Promise to use them as an agent when it comes time to sell the home you just fixed up.

Win-Win

Remember this business is a numbers game. The more you detect, the more you find. The more you market the better your chances for success. There are plenty of opportunities in your metro area to find sweet deals that will make the owner happy, you a bit wealthier and the neighborhood happier for renewing a distressed house. It is a win, win, win business.

As soon as you find a deal, give me a call for a loan fix-n-flip rehabilitation loan. You can e-mail too.

Pat St. Cin

Patrick@InvestorsLendingSource.com

512-213-2271

Austin, Texas

Jobs = Confidence

Posted on February 6, 2019 by Patrick StCin

U.S. Stocks Rallied again yesterday as corporate earnings and a good jobs report strengthened our confidence in investing. According to Investopedia, “The Market Sum,” by Caleb Silver, “We are six weeks deep into a stock market rally, the likes of which we haven’t seen since 1987.”

U.S. employers added an average of 223,000 jobs per month in 2018, much higher than the 170,000 per month predicted. 248,000 of those jobs were in the manufacturing sector, putting a dent in the 1.2 million manufacturing jobs wiped out in the last recession (Investopedia.com).

U.S. Occupations

If you want to know what type of jobs are in the U.S. labor market, you need to look at both the occupation (worker) and the industry (employer). You can use occupational employment statistics (OES) (published by the US Department of Labor at https://www.bls.gov/oes/) to compare occupations. You can see employment levels and wages for occupations where you live or in the type of business where you work.

According to the OES for the nation, retail sales person is the largest occupation. Next is food preparation and serving persons; then cashiers, office clerks, registered nurses, customer service representatives, laborers and freight movers, waitresses and waiters, secretaries, and general operations managers. These are the top ten occupations in the country. Manufacturing is not there — yet.

Loan Officer in Texas

You can look up “Loan Officer” though, and there are 307,240 loan officers making a mean hourly wage of $37.00 an hour, and interestingly enough, Texas has the second highest number of working loan officers (20, 810), second to California (39,520), with a mean annual income of $86,460.

Strangely, the top paying metropolitan area in the country for this occupation is Laredo, Texas, with a mean annual salary of $131,200. They don’t say how many loan officers there are in Laredo making this salary though. Lubbock, Texas is in seventh place on the top ten, with 260 loan officers, making a mean annual salary of $117,500 each. Number eight is Victoria, Texas, with 70 loan officers making a mean annual salary of $114,230 each.

So What? I think this means that Texas has a lot of money to lend.

Real Estate Brokers

What do the statistics say about “Real Estate Brokers?” First, there are 36,410 real estate brokers working in real estate in the U.S., with others working in management, building construction, credit, and business and professional organizations. Texas is fifth, with 2,290 workers employed in this occupation, compared to California with 5,570. In Texas, Dallas-Plano-Irving is the Texas metropolitan area on the list of areas with the highest employment level in real estate brokering, 830 brokers with a mean annual salary of $80,410.

Cowboys

Sad as it may sound, the song is right. “Mothers, don’t let your sons grow up to be cowboys.” I could find hunters and trappers on the list of occupations, but no cowboys. That cannot be right. This is Texas!

An occupation gives us purpose and confidence. Work is good.

I am a real estate broker. I work with people, land, homes, and money. I, myself, only see the back end of a cow when I visit Kansas. What could get better than that.

If you or your partner have a real estate purchase you would like to make or money you would like to invest in a real estate project, don’t forget, I’m on the net, in the book, and this is what I love to do.

Pat St. Cin

Patrick@InvestorsLendingSource.com

512-213-2271

Austin, Texas

References:

The Market Sum, by Caleb Silver at Investopedia.com

US Department of Labor at https://www.bls.gov/oes/

Cowboy hats. Nika Vee, Austin [CC BY 2.0 (https://creativecommons.org/licenses/by/2.0)%5D, via Wikimedia Commons

A Town with a Trail

Posted on January 24, 2019 by Patrick StCin

Fort Worth

A good real estate property hunter follows the flow of people. And, like the birds that love the water, people too are flocking to the rivers and bayous of Texas. As they follow the new jobs and other opportunities opening up in Texas, they are especially drawn to the waterways and trails that offer walking, biking, boating, and horseback riding. I think of trails as places of freedom, where one can move about, rehabilitate, breathe fresh air, see new things, and even talk with a cousin as you walk along.

Young professionals and families who have lived in the really big cities like New York and Los Angeles are seeing Texas trail towns as good places to call home. According to an article in the wsj by Alina Dizik, they are buying homes in Fort Worth to get better prices on larger luxury homes, walkable neighborhoods, and a yard for their dog. In Fort Worth, they also can get access to the Trinity River Trail and proximity to the city’s cultural district if they so choose.

nashua_river_rail_trail_3

The Trinity Trails System

The Trinity Trails are a system of trails along or near the Trinity River in Fort Worth. There are over 40 miles of trails along the river and its tributaries. The trail network connects with 21 parks, the Fort Worth Botanical Garden, The Japanese Garden, Log Cabin Village, the Fort Worth Zoo, the historic Stockyards, and downtown. You could disappear for a whole weekend on that trail and never be bored.

The Trinity Trail also offers 17 trailheads for picnics and rest stops, five boat launches for canoes, kayaks, and sculls, a water-ski slalom course and fishing in a number of spots. For a map of the trail, visit

http://www.trwd.com/wp-content/uploads/trinity-river-trail-map.pdf

Fruitful Hunting

You might want to consider looking for flip-n-fix properties in the areas along this trail. Although the Wall Street Journal article was talking mostly about luxury homes, it did mention a rehab that the owner undertook themselves. Your hunt for the perfect, or at least interesting and profitable, fix-n-flip property might bear fruit in this area.

If you find a deal, give me a call for a quick gap loan to secure the property or for a full fix-n-flip rehabilitation loan. You can e-mail too. I can help with loans in the DFW metro area.

Pat St. Cin

Patrick@InvestorsLendingSource.com

512-213-2271

Austin, Texas

References:

Dizik, A. As Homebuyers Flock in, Fort Worth Embraces its Cowtown Reputation. WSJ, January 17, 2019.

Nashua River Rail Trail 3 photo by Photo by White, Michael A. at English Wikipedia [Public domain], from Wikimedia Commons.

Houston Adds 114,400 Jobs

Posted on January 11, 2019 by Patrick StCin

Good New for Houston Jobs Up 3.7%

According to the U. S. Bureau of Labor Statistics, Houston-The Woodlands-Sugar Land was one of the nation’s largest metropolitan statistical areas showing an increase in the rate of job growth between November 2017 and November 2018.

In November, 54 metropolitan areas had over-the-year increases in nonfarm payroll employment and 334 were essentially unchanged.

The largest over-the-year employment increases occurred in Houston-The Woodlands-Sugar Land, TX (+114,400), New York-Newark-Jersey City, NY-NJ-PA (+113,000), and Dallas-Fort Worth-Arlington, TX (+94,700).

Good News for Reno, Midland, and Colorado Springs

Nationally, the largest over-the-year percentage gains in employment occurred in

Reno, NV (+5.9 percent),

Midland, TX (+5.7 percent), and

Colorado Springs, CO (+5.0 percent).

Good News for Texas

In Texas, the 10 cities with the largest over the year percentage gain in employment occurred in

Austin, up 35.2 or 3.3%

Beaumont-Port Arthur up 35.2, or 3.3%

Dallas-Fort Worth, Arlington up 94.7 or 2.6%

Houston, The Woodlands, Sugar Land up 114.4 or 3.7%

Killeen-Temple up 3.3 or 2.3%

Lubbock up 3.9 or 2.6%

Midland up 5.6 or 5.7% ——Highlight Midland: According to Trulia, the average listing for a home in Midland is 342,280. There are 567 home for sale and the median rent is $2.500 per month.

San Antonio, New Braunfels up 14.3 or 1.4%

Sherman-Denison up 1.8 or 3.8%

Tyler up 4.3, or 4.1%

Texas overall up 360.0, or 2.9%

Patrick@InvestorsLendingSource.com

512-213-2271

Austin, Texas

References

https://www.bls.gov/

https://www.trulia.com/real_estate/Midland-Texas/

Happy New Year Workers!

Posted on January 9, 2019 by Patrick StCin

Happy New Year to all you workers. We value your labor and wish you well in 2019.

According to the Bureau of Labor Statistics News Release on January 4, 2019.

Earnings

In December, average hourly earnings for all employees on private nonfarm payrolls rose 11 cents to $27.48. Over the year, average hourly earnings have increased by 84 cents, or 3.2 percent.

Employment

Total nonfarm payroll employment increased by 312,000 in December 2018. Job gains occurred in health care, food services and drinking places, construction, manufacturing, and retail trade.

Health Care

Employment in health care rose by 50,000 in December. 346,000 jobs were added in 2018, more than the gain of 284,000 jobs in 2017.

Ambulatory health care services (+38,000)
Hospitals (+7,000).

Food and Drink

Employment in food services and drinking places increased by 41,000 in December 2018 Over the year, the industry added 235,000 jobs, similar to the increase in 2017 (+261,000).

Construction

Construction employment rose by 38,000 in December 2018. 280,000 jobs were added in 2018, compared with 250,000 in 2017.

Heavy and civil engineering construction (+16,000)
Nonresidential specialty trade construction (+16,000).

Manufacturing

Manufacturing added 32,000 jobs in December. Most of the gain occurred in the durable goods component (+19,000), with job growth in fabricated metal products (+7,000) and in computer and electronic products (+4,000). Manufacturing employment increased by 284,000 over the year, with about three-fourths of the gain in durable goods industries. Manufacturing had added 207,000 jobs in 2017.

Retail

Employment in retail trade rose by 24,000. Retail trade employment increased by 92,000 in 2018, after little net change in 2017 (-29,000).

General merchandise stores (+15,000)
Automobile dealers (+6,000).
Losses in sporting goods, hobby, book, and music stores (-9,000).

Professional and Business

Employment in professional and business services continued to trend up in December 2018:(+43,000). The industry added 583,000 jobs in 2018, outpacing the 458,000 jobs added

in 2017.

The Unchanged

Employment in other major industries, including mining, wholesale trade, transportation and warehousing, information, financial activities, and government, showed little change over the month of December 2018.

Patrick@InvestorsLendingSource.com

512-213-2271

Austin, Texas

References

US Bureau of Labor Statistics website

Photo credit: breadandbeer.lt [CC BY-SA 4.0 (https://creativecommons.org/licenses/by-sa/4.0)%5D, via Wikimedia Commons

BE AWARE: Part 2

Posted on January 8, 2019 by Patrick StCin

What does a Horny Toad Have to Do with It?

In Part I of Be Aware, I discussed performing a due diligence assessment with regards to past and present environmental hazards in the vicinity of the property you may be considering. In this part, I want to point out another aspect of the due diligence research you do that revolves around the plants, animals, and habitats that may be on or near the property you are considering making a loan on, developing, or remodeling. The animals and plants that inhabit that property need to be accounted for, not only because we value them, but because their presence may affect the dollars we need to spend on a project. As I have said before, hard money loans are offered based on the value of the property. So, you want to look carefully at anything that affects the property value now and in the future.

In Texas

As a landowner, you will be obliged by law to work around habitat or vegetative species that are considered endangered. According to the Texas Parks and Wildlife website, endangered species are plants or animals that will likely become extinct within the foreseeable future. Threatened means that a species may become endangered within the foreseeable future.

In Texas, plants or animals may be protected under the authority of state law and/or under the Federal Endangered Species Act. Examples of federally listed species in north Texas are the black-capped vireo, golden-cheeked warbler, and the Texas poppy mallow. Some of the state listed species are the Texas horned lizard (horny toad) and the Texas kangaroo rat.

The Texas list deals only with the status of the species within the borders of Texas. The Federal listing means that an animal is in trouble throughout its entire range which may cover several different states. Federal law not only protects the individual animal, but also protects its habitat. While TPWD enforces regulations pertaining to state listed species, the U.S. Fish and Wildlife Service enforces regulations pertaining to federally listed species under the Endangered Species Act.

Real Estate as Habitat

In the business of real estate, habitat is the concern. Loss and/or fragmentation of habitat is the number one cause for species declines in Texas. For example, the black-footed ferret is one of the rarest mammals in North America, yet it inhabited prairie dog towns in North Texas as recently as 1963. While prairie dog towns still exist, they are too small and too few in number to support a population of ferrets.

To sum it up, just as you would review the local area of your planned real estate transaction for hazardous concerns that will affect the property, you need to research the animals and plants that live on the property and their habitats that might be nearby.

Don’t forget to look for wetlands and ponds when you walk around the property or when you look at the topographical maps. Working around wetland and rivers requires special permits and special protective construction measures that need to be worked into the cost of the construction or remodeling projects.

A County by County List

Visit the Texas Parks and Wildlife website for a county by county list of endangered and protected species in the area you are planning to work in. Each county’s list can be downloaded onto an Excel Spreadsheet. See https://tpwd.texas.gov/gis/rtest

wildlife_districts_148

The Texas Parks and Wildlife Department also offers private landowner tools for things like habitat conservation plans, safe harbor agreements, candidate conservation agreements, and landowner incentive programs at

https://tpwd.texas.gov/huntwild/wild/wildlife_diversity/nongame/listed-species/landowner-tools.phtml

Remember. I’m not giving legal advice, just pointing out areas you should research before you buy a property or loan money and put your name on a deed. Be sure to be aware of the physical reality of the property itself. Look at it in real life and on the internet.

Patrick@InvestorsLendingSource.com

512-213-2271

Austin, Texas

References

Texas Parks and Wildlife website at https://tpwd.texas.gov/

Photo Ben Goodwyn [GFDL (http://www.gnu.org/copyleft/fdl.html), CC-BY-SA-3.0 (http://creativecommons.org/licenses/by-sa/3.0/) or CC BY 2.5 (https://creativecommons.org/licenses/by/2.5)%5D, from Wikimedia Commons

What is $358.00?

Posted on December 20, 2018 by Patrick StCin

Answer: Price per square foot for a luxury home in TX.

It is true that you can put a price tag on anything, well maybe not everything, but you certainly can put one on a luxury home. According to the 2018 Texas Luxury Home Sales Report by the Texas Association of Realtors (TAR), the median price for a Texas luxury home remains unchanged at $1.35 million.

Houses priced over $1 million dollars are considered “luxury” and 5,123 of them sold across the state of Texas from October 2017 to November 2018, up 11.5% from the previous year. The average price per square foot for a luxury home was $358.00. This is up 2.5% from the first ten months of 2017. A median house in Texas carried an average price tag of $128.00 per square foot.

From January to October 2018 the average time a luxury home spent on the market in Texas was 94 days, a decrease of four days from the same timeframe in 2017. It makes sense that the bigger price would lead to a longer time on the market because there are few buyers who can afford the higher price and it takes longer to get a big loan.

For comparison, here are some statistics courtesy of Realtor.com.

Austin-Round Rock, TX, Median Price $350,000. Days on the Market, 65.

Dallas-Fort Worth – Arlignton, TX Median price $335,000. Days on the Market, 58

Houston-The Woodlands-Sugar Land, TZ – Median Price $350,000. Days on the Market, 65.

Killeen-Temple, TX, Median Price $200,000. Days on the Market, 68

San Antonio-New Braunfels, TX – Median Price $285,000. Days on the Market, 66.

For more on luxury houses, read “Livin’ Large: Texas’ Robust Luxury Home Market,” a Tierra Grande article by Real Estate Center Senior Data Analyst Joshua Roberson. https://www.recenter.tamu.edu/news/newstalk-texas/?Item=21652.Read more at Texas Association of REALTORS

Patrick@InvestorsLendingSource.com

512-213-2271

Austin, Texas

Photo by Pixabay on Pexels.com