Homes Affected by Dolly May See Lower Values, Tax Assessments

Hurricane-damaged homes may be worth less than they were before Hurricane Dolly, and tax assessments could be lower for the property owners. But the owners must apply to the appraisal district with evidence that their appraisals should be reduced before they will see lower taxes. And wind-damaged homes are likely to be treated differently than flooded buildings. Wind damage can be repaired, but flooding could permanently affect the property's market value, Cameron Appraisal District Chief Appraiser Frutoso Gomez said. More

Study: 16.5 Percent of Texans Owe More Than Their Home is Worth

Almost 450,000 Texans owe more on their houses than they're worth, according to a new study. But the percentage of Texas homeowners who are upside down on their home loans is slightly less than the national average, the report released Friday by First American CoreLogic said. In Texas, about 16.5 percent of homeowners have mortgages that are larger than their homes' current values. Nationwide, the rate is 18 percent. About 7.6 million U.S. homeowners are faced with loans that are more than their homes' current value. "In Texas, home prices are still appreciating" in some markets, said Sam Khater, senior economist with First American CoreLogic. "That's a huge a difference with some of the other states." More

Foreclosures Hit Tenants, Too

Derek and Lee Manuel thought they were getting a great deal when they signed a special rental contract on a house this summer. They would be able to rent a three-bedroom house in south Fort Worth while they improved their credit. When their credit was better, they understood that they could either buy the house they were living in or buy one built by an associated group of builders. But it hasn’t happened that way. Now they are facing the same problem that many renters are facing when the landlord doesn’t or can’t pay the mortgage: They are finding that they can be evicted through no fault of their own. More

Economist: Texas Home Prices Aren’t Headed for a Fall

Mark Dotzour, chief economist for the Texas A&M Real Estate Center, disagreed vigorously with predictions by other real estate observers who said the Central Texas’ median home sales price will decline by the end of the year, or sometime next year. “If you need to sell, sell,” he said. “This market is good. This market is healthy. It’s not going down in price,” Dotzour told a standing-room-only crowd at the Austin Board of Realtors’ annual trade show. Earlier this week, several other real estate experts predicted in a Statesman story that the median price would fall between 5 and 10 percent in coming months. They cited a near-record supply of homes on the market, anticipated rising mortgage rates and the continued impact of the national housing slowdown. But Dotzour said Austin’s inventory of unsold existing homes is still around 6 1/2 months, which is considered a balanced market. More

Green Building Lawsuits Increase Nationwide

The meteoric rise of the green-building industry seems like a feel-good tale suited for the Disney Channel. Builders, contractors and tenants all want to be part of projects that are energy efficient. Owners find that green buildings are good investments because people will pay more to work or live in them. Design professionals and law firms tout their credentials in lending a green guiding hand to those who need advice. But lawyers familiar with green construction say the good feeling is fading. “I think disputes are inevitable,” warns Joel Lewin, an attorney at Hinkley, Allen & Snyder in Boston. More

Ike’s Surge Means Slow Coastline Recovery

Hurricane Ike's storm surge was so widespread, so high and so violent that it will take much longer than usual for the Texas coastline to recover, the director of coastal resources for the Texas General Land Office said. Ike washed millions of tons of beach sand into coastal marshes so far out into the Gulf that some beaches will be changed forever, Eddie Fisher said at a town hall meeting at the Brazoria County Courthouse. More

Gov. Perry Meets with Texas Industries

While Texas Gov. Rick Perry reiterated the message Friday that Texas remains more financially stable as compared to other U.S. states, he spent time meeting with key industry leaders to delve into more industry-specific economic data. “By meeting directly with industry leaders, I can gain a better understanding of how Texas industries are faring and what they expect to see in the marketplace in the near future,” Gov. Perry said. More

Many High-Profile North Texas Races on Ballot

The presidential race is capturing all the attention, but North Texas voters will also have to decide a host of local races today, including who will be Dallas County sheriff as well as dozens of congressional, state and judicial contests. The most important race locally for both parties in Dallas County is the battle for sheriff between Democratic incumbent Lupe Valdez and Republican Lowell Cannaday. More

Uncle Sam About to Borrow Record Sums

The U.S. government will borrow a record $550 billion in the current quarter as it scrambles to fund rescue programs being put in place to deal with the worst financial crisis in seven decades. In addition to the amount for the October to December quarter, the Treasury Department said Monday that it plans to borrow an additional $368 billion in the first three months of next year. The government raises money by selling Treasury bills, notes and bonds. More

Comptroller Revamps Property Tax Units

The Texas Comptroller’s office is reworking its property tax division. Comptroller Susan Combs said the division is being renamed the Property Tax Assistance Division. The unit is also being removed as an arm of the Local Government Assistance and Economic Analysis Division and will now be a stand-alone division of the comptroller’s office. Combs says the move is intended to increase efficiency and transparency. More

Uncle Sam About to Borrow Record Sums

El Paso County Commissioners formally said Monday morning they shouldn't have to pay tens of thousands of dollars each year in stormwater fees to the Public Service Board, but will continue payment until the issue is resolved. The vote was unanimous. More

Bathrooms Awash in Green Options

The It's smart and smart-looking to think green in the bathroom. In an uncertain market, custom and mass-market builders, as well as homebuyers, are OK with eliminating living rooms and downsizing massive kitchens but remain satisfied with the number and size of baths in the typical home, a recent National Association of Home Builders survey shows. More

New Henderson Home First to Make East Texas Parade of Homes

The 55th annual East Texas Parade of Homes will make its first ever stop in Henderson during November, Parade officials have confirmed. For the first time since its inception, the 2008 event will make stops at a new home outside city limits when it is held 1-6 p.m. daily Nov. 7-9 and Nov. 14-16. The new four-bedroom three-bathroom house is located on County Road 217 in Henderson. Sponsored by the East Texas Builders Association (ETBA), the Parade will showcase 22 new homes throughout the East Texas area. More

Hutchison Hits State Legislative Campaign Trail

U.S. Sen. Kay Bailey Hutchison has played a larger role than usual this year in helping Republicans fight for seats in the Texas Legislature as she prepares her likely run for governor in 2010. Hutchison has held 24 fundraisers for legislative candidates this year, including 13 that she headlined in October alone. Aides say she's spending more time campaigning for state legislative candidates than in years past. More

Q&A with Tom Craddick and Bill Dingus

Both Tom Craddick and Bill Dingus took the time to answer questions regarding important issues. Here are the questions and how each candidate answered. More

Housing Market Holding Steady in Unsteady Times

Hitting bottom can be a good thing. And according to the latest analysis by Houston-based housing-research firm Metrostudy, the local market is well on its way to hitting bottom — thus paving the way for it to rebound once again. More

Recapping U.S. Senate, House Races

Presidential candidates Barack Obama and John McCain have hogged the spotlight for Tuesday's election, but there are other important national races for Central Texas voters to consider. More

State Sends Violation Notices to Builders, Remodelers

The Texas Residential Construction Commission has issued 29 violation notices against builders and remodelers that are allegedly unregistered and working in Ike-affected areas. Builders and remodelers with projects valued at more than $10,000 must be registered with the commission. Out-of-state builders must work with registered Texas builders or remodelers. More

More Inspections for New Rural Homes

New regulations went into effect Monday that may change homebuilding in rural Kerr County. State legislation passed last year toughens inspection requirements for construction in unincorporated areas. Building a new home or remodeling an existing home by at least $10,000 outside of city limits now are subject to undergo three inspections. More

New-Home Starts Down 28.3 Percent in San Antonio

San Antonio builders started 28.3 percent fewer new homes in the third quarter as they continued to pare back in an effort to recover from overbuilding during the boom period, according to a report released Thursday by Metrostudy, a housing research firm. More

Hollaway Named Top Custom-Home Builder

San Antonio home builder Mike Hollaway, president of Mike Hollaway Custom Homes, has been honored by the National Association of Home Builders as one of the top custom-home builders in the country. Hollaway was one of three builders recognized Oct. 25 as a finalist for the Custom Home Builder of the Year Award. There were 78 builders nominated nationwide. More

Builders Find Good Things Can Come in Small Packages

With the U.S. housing market in turmoil, home builders that thrived by offering large homes and expensive amenities began to rethink their home designs with an eye toward making smaller, less costly homes. That trend appears to be intensifying, as many builders make their wares palatable and affordable to first-time buyers. Los Angeles-based KB, which builds homes to order, began downsizing some of its floor plans last year. More