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Home    Education    Legislative    Publications    Calendar    Sunbelt Builders Show    Resources Oct. 9, 2012


TAB News Briefs
Oct. 9, 2012
TAB Quick Links >    Home     Education     Legislative     Publications     Calendar     Sunbelt Builders Show     Resources



CoreLogic: US shadow homes inventory lowest in over 3 years
Reuters    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The number of U.S. homes that could soon come onto the market fell to the lowest in more than three years as of July as distressed sales offset new delinquencies in an encouraging sign for the housing market, a data analyst firm said. The pending supply of homes, also known as shadow inventory, fell to 2.3 million units as of the end of July, down 10.2 percent from 2.6 million units a year ago and at the same level as March 2009, CoreLogic said. More



Deadline for voter registration is turning point
Lubbock Avalanche-Journal    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The voter registration deadline on Tuesday marks an important turning point for the Texas elections. Who turns out to vote is unlikely to decide the presidency — Mitt Romney pretty much has Texas wrapped up — but many races for the Legislature or county offices will depend on who takes the time to cast a ballot. More

All Texas metropolitan areas added construction jobs for 12 months through August
Dallas Morning News Biz Beat Blog    Share    Share on FacebookTwitterShare on LinkedinE-mail article
All 26 Texas metropolitan areas added construction jobs for the 12 months ended Aug. 31 — even as other areas of the country struggled, according to data released by the Associated General Contractors of America. Houston saw the most new construction jobs (6,900 jobs or 4 percent). The Fort Worth-Arlington area was No. 2 (5,100 jobs or 9 percent) and Dallas-Plano-Irving was third (4,500, or 4 percent). More

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Presidential decision impacts housing sales
CBS MoneyWatch    Share    Share on FacebookTwitterShare on LinkedinE-mail article
A recent poll by Harris Interactive on behalf of MortgageMarvel.com asked consumers if the presidential election would cause them to delay home purchases if they were in the market for a new home. A full 25 percent of Americans surveyed would prefer to know who our next president is before putting a down payment on a house. Among the 2,570 U.S. adults surveyed, 13 percent said they would definitely delay a home purchase until after the election; another 12 percent said the uncertainty might cause them to delay their purchase. More

Fed officials: Housing still impediment to US growth
Reuters    Share    Share on FacebookTwitterShare on LinkedinE-mail article
A disappointing rebound in U.S. housing continues to trip up the country's overall economic recovery, two influential Federal Reserve officials said, highlighting a corner of the economy that still frustrates monetary policymakers. New York Federal Reserve Bank President William Dudley said the housing market's failure to fully respond to the Fed's easy money policies remains a headwind to U.S. growth, while Elizabeth Duke, a governor at the central bank, highlighted problems associated to the "extraordinary" level of abandoned properties. More

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North Texas home sales up 10 percent in September
Dallas Morning News    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Back-to-school days didn't mean that North Texas homebuyers backed away from the housing market in September. Pre-owned home sales in North Texas were up again in September — the 15th month in a row that monthly home purchases have been higher than the previous year. Real estate agents sold 6,103 single-family homes through their multiple listing service last month, a 10 percent year-over-year gain, according to the Real Estate Center at Texas A&M University and North Texas Real Estate Information Systems. More

Rate on 30-year mortgage hits record low 3.36 percent
The Associated Press via USA Today    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Average rates on fixed mortgages fell to fresh record lows for the second straight week. The declines suggest the Federal Reserve's stimulus efforts are having an impact. Mortgage buyer Freddie Mac said that the rate on the 30-year loan dropped to 3.36 percent. That's down from the previous week's rate of 3.4 percent, which was the lowest since long-term mortgages began in the 1950s. More

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Interstate construction causing major water issues for Central Texas city
KXXV-TV    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The construction on I-35 continues to cause problems for Central Texas, but people in Lorena might have been hit the hardest. Since it has started, the interstate construction has caused three major water main breaks in the city. Each break left over 500 people without water for long periods of time. City officials are expecting the number of breaks to rise as construction continues. More

Texas great-grandmother arrested for trespassing on own property
Salon    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Eleanor Fairchild, a 78-year-old great-grandmother, was arrested for trespassing on her own land. Fairchild was standing in the path of bulldozers on her 300-acre ranch in Winnsboro, Texas — the site of construction of the southern part of the Keystone XL Pipeline. Fairchild threw her arms up in front of the machinery and proclaimed: "I don't want tar sands anywhere in the United States. I am mad. This land is my land…it's about all of our country," but to little avail. Fairchild was arrested on eminent domain grounds. More



Eagle Ford boom driving on roads of ruin
San Antonio Express-News    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Some of the roads here are so beaten down that Laura Hahn scraped the bottom of her car the other day when her tires drifted into the deep ruts worn by oil field trucks. Her boyfriend was nearly hit by a truck recently. And her sister's home and garden in nearby Yorktown are covered by a fine, white layer of caliche dust kicked up by the traffic of the shale drilling boom. More

Top Texas news for Oct. 9, 2012
The Texas Tribune    Share    Share on FacebookTwitterShare on LinkedinE-mail article
With the start of early voting less than two weeks away, a crucial deadline dawns today. It's the last day to register to vote. Haven't done so yet? You can't do it online (the secretary of state's office requires a signature), but you can print out this form and mail it in by the end of the day to make the deadline. More

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Redrawn district may help challenger in Texas House race
Austin American-Statesman    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Starting in April and carrying on through the dog days of summer, Republican Robert Thomas has worn out the soles of his shoes block-walking in his campaign to represent House District 48 in West and South Austin. Thomas is counting on more than hard work and sweat, though. There's a wild card in this election that could level the playing field. More

Even after rains, facing long-term water needs
The Texas Tribune via The New York Times    Share    Share on FacebookTwitterShare on LinkedinE-mail article
With its pretty rivers and lakes, this city of 95,000 people is sometimes called the oasis of West Texas. But San Angelo recently came within a year of running out of water, as it faced a severe drought that produced brown lawns, dying bushes and fear. "Who wants to pull up to a hotel and it's dead?" said Bob Banskter, general manager of the Rodeway Inn in San Angelo, referring to the state of the landscaping. It was late September, a day after City Council members had voted to ban the use of outdoor sprinklers, and as he walked around the hotel, Mr. Banskter pointed out shrubbery that was sure to die without watering. More

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Remodeling resurgence boosts sales for contractors
The Associated Press via Lubbock Avalanche-Journal    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Glenn Bridges can tell that the market for home remodeling is picking up — when he's hanging cabinets or laying a floor in a customer's house, a next-door neighbor is bound to knock on the door and ask if he's available for another project. They'll look at his handiwork and then say, "we have something we're interested in doing," Bridges says. "It's quite uplifting." More

In rural Garwood, a project that points to the Colorado River's future
Austin American-Statesman    Share    Share on FacebookTwitterShare on LinkedinE-mail article
pair of old gravel pits on the fringes of this South Texas town may spell the future of water supplies in the Colorado River basin. Here, in the midst of rice country, the Lower Colorado River Authority is six months into a project to figure out whether it can call on its vast network of canals, which stem like capillaries from the river, to store water in the lower part of the basin. More

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New lenders emerge, where banks fear/fail to tred
The Wall Street Journal    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Banks have increased their lending for four of the last five quarters, but FDIC acting chairman Martin Gruenberg, is still in a "wait and see if the trend toward increased lending can be sustained" kind of mood. And even if the trend holds, lending is still nowhere near where it was five years ago. More

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Senate race in Tarrant County key to Texas future
The Associated Press via Houston Chronicle    Share    Share on FacebookTwitterShare on LinkedinE-mail article
A race to represent western Tarrant County in the state Senate has become the most important legislative race of the year, determining whether Democrats can continue to demand compromise. The choice between Democratic state Sen. Wendy Davis and Republican Rep. Mark Shelton is a pivotal and closely watched race for the GOP, which is two seats shy of a two-thirds supermajority that would allow it to pass any legislation it desired. More

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Country Club Road plan in El Paso's Upper Valley raises concerns
El Paso Times    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Residents voiced concerns recently that a plan to reconstruct Country Club Road may not do enough to alleviate traffic congestion and that a construction period of more than two years could hurt neighborhood businesses. About 80 people attended a public hearing Monday night on a project intended to improve traffic on the two-lane, tree-lined road that has become one of the most congested streets in El Paso due to growth of neighborhoods in the Upper Valley. More



Marathon acquiring BP Texas City refinery, assets
San Antonio Business Journal    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Marathon Petroleum Corp. has agreed to buy BP's Texas City refinery and related assets for $2.5 billion in a deal that would make the company the fourth-largest refiner in the U.S. Several refiners, including San Antonio-based Valero Energy Corp., had been eying the 451,000-square-foot complex. More
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