...Houston is one of the riskiest cities nationally for falling home prices, according to a recent report by a national mortgage insurance company. Arch Mortgage Insurance Co. ranked Houston No. 2 among 386 metropolitan cities nationally for having the highest risk for declining home prices. The Bayou City has a 38 percent chance of lower home prices in two years. The average risk nationally is 8 percent, according to the Walnut Creek, California-based company. “ Houston home prices are probably going to come down a little bit,” said Ralph DeFranco, Arch’s senior economist and director of risk analytics and pricing. “ I don’t think it’s going to continue to accelerate.” Although Houston has a relatively high risk for falling home prices compared to other cities, it’s important to remember that Houston’s risk is considered “moderate,” according to Arch’s risk model. Houston still is far from reaching the 90 percent risk level that Florida and other parts of the country saw right before the 2008 housing crash, DeFranco said. “Houston is the riskiest in a very stable national economy,” DeFranco said. “There’s a potential risk (for home price declines), but it’s not inevitable.” Houston is at risk because its economy is still largely oil-dependent, DeFranco said. Although the Bayou City’s economy has become more diversified since the devastating oil crash of 1980s, the oil and natural gas industry still constitutes about 38 percent of the local economy, according to the Greater...
Words: 517 - Pages: 3
...home buyers about the state of real estate market in Houston. My focus is on Houston because this where I reside, having said that my interest in real estate and issues related to the housing market has also been a source of inspiration. My feature story which I intend to publish in a magazine called Houston Realtor, a professional magazine for real estate agent in the city of Houston will inform my audience of the reason why they can buy in that city. Prior to 2006 in the United States the Housing market was bubbling, banks were giving loans and by early 2006 housing prices reached their peak. Later that year and in 2007 and up till 2008 the United States recorded increase in foreclosure rate among home owners. According to the case- Shiller home price index reporter its largest price dropped in his history. Between that time and now the Houston real estate market remains one of the strongest in the country. According to statistics generated from many real estate and economic analysis the general conclusion is that the Houston real estate market was ranked the no.2 this year, in terms of home values. According to research Houston gained nearly 10,000 new jobs in 2010 because the real estate market is attractive, hesitant home buyers have a good reason to go ahead with their purchase. Mortgage rates are expected to stay below five percent. The phrase “Now is the time to buy” it’s very applicable to the Houston area real estate market. This article will go through the process...
Words: 342 - Pages: 2
...a Continuing Care Retirement Community – a kind of senior housing retirement living center – on one (1) contiguous parcel of land located in a northeastern suburb of Houston, Texas by BGG Development, LLC – a Texas Limited Liability Company engaged in the development, capitalization, marketing and operations of senior housing facilities in Texas. BGG Development, LLC’s management has assessed the initial opportunity and believes the total development budget for the initial phase of this project will be approximately $54.1 million, but the project is expected to have three (3) phased stages developed over a 3-year period (if all operations are met with material success). Should BGG Development, LLC be successful in executing its business model, the expected result will be a near-term net profit pool of approximately $6.2 million and BGG Development, LLC will be seeking to acquire approximately $1.2 million in pre-construction phase capital financing to address this business opportunity. To these ends, the company is providing this proposal for the purposes of entertaining discussions with qualified institutions, businesses and accredited investors regarding the potential investment preferences. This document is not an offer to sell securities of any kind, nor does it constitute a guarantee or warranty as to future performance of any kind. This Document is For Discussion Purposes Only. Northeast Houston Senior Housing Project Development Financing Proposal Pre-Development Phase...
Words: 5397 - Pages: 22
...Reid Weber February 6, 2016 Real Estate Principles Chapter 5 Essay In chapter 4 of the text, Real Estate Principles: A Value Approach- by David C. Ling and Wayne R. Archer, there is a discussion on having limited or no public real property zoning regulations. In this short essay I will discuss the pros and cons of pubic real property zoning regulations as well as the effectiveness of this policy as it relates to Houston, Texas’s overall real estate market. I will then relay my thoughts as to whether this is a model that other municipalities should adopt or not. Before we dive into the pros of public real property zoning regulations, first lets answer the question, what is the purpose of zoning? The main purpose of zoning is to use the land or a property for the common good of society. Zoning is also used to maintain the unique characteristic of the society, to protect and conserve the value of buildings, and to prevent new development from meddling with the existing uses. So what are some pros of these zoning regulations? One of the more important benefits of zoning is that it can give a community some control over its land uses, appearance, and quality of life in the future. This may help with implementing community goals and objectives such as allowing potential nuisance uses to be located away from residential neighborhoods or other sensitive areas as well as preventing the mixing of incompatible land uses (such as erotic...
Words: 915 - Pages: 4
...Marine Enterprises Memo To: Chris Shakra From: Date: December 14, 2011 Re: Houston Relocation Mr. Chris Shakra, Congratulations on your decision to relocate Marine Enterprises to Houston. Our move to Houston will improve morale, cost effectiveness and profitability for Marine Enterprises. This is a big move for the company and the many employees willing to relocate. We are promoting the move by showcasing the many benefits of living in Houston and relocation assistance for an easy transition for our employees. Our employees will also have an opportunity to see a 1:18 scale model and take a virtual tour of our new facility. I have scheduled a seminar on Monday to announce the relocation, benefits of living in Houston and company assistance for the move. Below is an outline of the seminar we will hold on Monday. We will convey the many benefits of living in Houston to our employees: -Lower cost of living -Affordable Housing -Excellent Weather and Low pollution -Excellent School System -Lower Crime Rate We will review our company assistance program for the relocation: -$3,000.00 Relocation assistance to all employees -Real Estate Assistance -Job assistance for those who wish to remain in New York I strongly feel our employees will view this as a good move for them and their families. I am confident this transition will be a success for Marine Enterprises and it’s employees. Administrative Assistant II 30 Rock...
Words: 2057 - Pages: 9
...Homelessness Houston/ Harris County Blue Ribbon Commission to End Chronic Homelessness Houston/Harris County May 2006 Table of Contents COMPONENTS OF THE 10 YEAR PLAN 1. Strategic Plan to Address Homelessness……………………………………Tab 1 a. Context b. Synthesis of Research Findings c. Strategic Plan Goals d. Summary of Year 1 Action Steps e. Funding Requirements f. Summary of Data Report Findings g. Models used to Develop Plan 2. Summary of System Management Function…………………………………Tab 2 3. Enumeration and Needs Assessment………………………………………...Tab 3 a. Enumeration b. Community Profile c. Profiles of Specific Sub-Populations d. Conclusions e. Recommendations 4. Gaps Analysis……………………...………………………………………...…..Tab 4 5. Rapid Re-housing Demonstration Report………………………………….....Tab 5 a. Pierce Intervention Evaluation 6. Open Doors Report………………………………………………………………Tab 6 a. Rapid Assessment of Needs of Hurricane Evacuees Blue Ribbon Commission to End Chronic Homelessness Anna Babin United Way of the Texas Gulf Coast David Benson Harris County Commissioners Court David S Buck, MD, MPH Department of Family & Community Medicine Baylor College of Medicine James Calaway Center for Houston’s Future Robert Eury Central Houston, Inc. The Most Reverend Bishop Fiorenza The Diocese of Galveston – Houston Skip Kasdorf Greater Houston Partnership Richard Lapin City of Houston Anna Leal Houston Endowment, Inc. The Honorable Pat Lykos Harris County Anthony Love Coalition for the Homeless of Houston/Harris County...
Words: 17499 - Pages: 70
...plan land development (Caplan, 2008). With respect to Pigovian taxes, given that land supply is relatively inelastic, these will have little effect on the mitigation of negative externalities of, for example, urban sprawl (Caplan, 2012). Further, the Coasian solution to deal with land use externalities involves deal-making between parties which, if there are no transaction costs result in the internalization of externalities. In practice, the Coasian solution is at work in tandem with zoning regulation which affects transaction costs (Staley, 1997). Because of the pervasiveness of zoning regulation throughout the United States, the following will examine two different cases of land use regulation, namely, the lack of formal zoning in Houston, Texas and private zoning in the town of Celebration, Florida. It will be shown that the effectiveness land use regulation is...
Words: 3790 - Pages: 16
...Pier. Millennium Park has free events throughout the summer like the Jazz or Blues Fest too. You can experience the rich history that the city has to offer as well as spend time by the lake. Wrigley Field is an iconic location for anyone who loves baseball to visit too. http://travel.usnews.com/Chicago_IL/Things_To_Do/ Atlanta, Georgia This southern city has plenty of hospitals where they need qualified nurses. There's also plenty for nurses to do in their time off from work. The pay is good while the cost of living is reasonable, which makes the state highly desirable for travel nurses. You can enjoy visits to the aquarium as well as local museums. Atlanta has a cultural aspect that can't be missed. Foodies can appreciate the Ponce City Market, which has been transformed and renewed with many new restaurants. Brattleboro,...
Words: 989 - Pages: 4
...FHA 203k loans are provided in cases where the property you want to purchase in Houston may need repairs or rehabilitation. These loans will enable you to arrange for finances to attend to the needed repairs. Borrowers could expect the sale price amount and add the cost of repair estimates to that. The maximum amount that you can get under a regular 203k loan is the lesser of 110% of the estimated property value or the as-is value of the concerned property with the added cost of repairs. 203k Loan Eligibility The properties that are eligible for an FHA rehab loan are the single family to four-family homes which have been completed for at least one year. There is a possibility that you may have liked a place whose existing base structure is perhaps in good condition but the building looks rather torn down. What really matters is that the property has to qualify for an FHA approval under the home loan requirements established by the Federal Housing Administration. The terms that have been set aside for FHA 203k loans are for fifteen and thirty years. Most borrowers under this plan may feel that the thirty-year term may work out beneficial for them due to the lower and easy monthly instalments. Repair and Mortgage rolled into one plan...
Words: 539 - Pages: 3
...Houston is the largest city in the state of Texas and the fourth-largest in the United States. As of 2006, the city had a population of 2.14 million and anchors a metropolitan area of 5.5 1 million people. Houston is the economic and cultural center of the western Gulf Coast Region and southeastern Texas. Over the past several decades the city has rapidly added population and developed in a low density autocentric form. Houston is well known for being the largest city in the nation with no zoning. This laissez-faire government structure allowing for the market to dictate urban form is one of the reasons why Houston has remained an affordable and viable place for people and businesses to relocate. However, the loosely regulated growth throughout Metropolitan Houston is having many negative impacts on the quality of life and poses serious implications to the future viability and livability of Houston in the future. In most cities, zoning is one the most effective instruments used by planners to shape the built environment. However, since Houston and Harris County have no zoning powers, deed restrictions and ordinances are used as land use planning tools. Many planning decisions in Houston are made at the neighborhood level and are spear headed by non-profits such as the Gulf Coast Institute 2 . The Gulf Coast Institute (GCI) is an organization that seeks to create a livable community with a dynamic economy that revitalizes and protects neighborhoods, improves access, increases mobility...
Words: 1136 - Pages: 5
...MLB’s International Expansion Thomas Cyhan June 25, 2012 Nina Campanicki The Major League Baseball team, Houston Astros was founded in 1962, known as the Colt .45s. However the process in creating this team took nearly a decade before they were able to throw out their first pitch as a MLB franchise. MLB refused consideration on multiple occasions to expand the National League from eight to ten teams until other potential owners would form a new baseball league called the Continental League to compete against the National League. Starting baseball operations in 1962, the Colt .45s changed their name in 1965 to the Houston Astros when Judge Roy Hofheinz became sole owner of the team. Houston was renamed the Astros to honor the city’s location as the nation’s space station. Since the Astros were created they have played in three stadiums; Colt Stadium from 1962 to 1964, the Astrodome from 1965 to 1999 and in their current home Minute Maid Park from 2000 to present time. Houston has only made it to the World Series once back in 2005 by defeating the St. Louis Cardinals, but lost to the Chicago White Sox in four games. The Astros have had some success in the late 90’s but still have not won a World Series. The team was sold in 2011 to Jim Crane for $610 million dollars. Originally the price tag for the franchise and 45% of the team’s new regional contract was $680 million but the team was discounted because in 2013 the team will be moving from the National League to the...
Words: 2120 - Pages: 9
...America Wilder Research Wilder Research Wilder Research Report prepared for the RWJF Commission to Build a Healthier America by Paul W. Mattessich, Ph.D. Wilder Research Saint Paul, Minnesota Ela J. Rausch, M.P . .P Federal Reserve Bank of Minneapolis Minneapolis, Minnesota With support from the Robert Wood Johnson Foundation June 2013 Creating Healthy Communities Cross-sector partnerships are sparking widespread action to improve community health COATESVILLE , PA SEATTLE, WA Access to healthy foods Access to preventative care and healthy housing LOS ANGELES , CA Quality early child care and education CHICAGO, IL Data and evidence to build health into all policies and practices MIAMI , FL Opportunities for physical activity and healthy living health community development • community development finance • community planning • early child care/education • human services • housing Introduction “ Building a healthier America is feasible in years, not decades, if we collaborate and act on what is making a difference.” —Robert Wood Johnson Foundation In 2008, the Robert Wood Johnson Foundation convened a commission of nonpartisan leaders to identify opportunities to improve the health of all Americans by creating environments that protect and actively promote health. Their report, Beyond Health Care: New Directions to a Healthier America, included 10 recommendations for improving the health of our communities, several of which focused...
Words: 10523 - Pages: 43
...2. (TCOs A and E) Writing an Employee Memo Your Role You are the manager of the Sales Department of The Medical Corporation (TMC), a department that employs 25 sales representatives. As a result of reduced revenues and increased expenses, TMC's Management Board has voted to implement a "right-size action" that could result in personnel reductions in your department in the next two years. As the manager of the Sales Department, you are responsible for informing the sales staff about the proposed right-size action, and its potential impact on the Sales Department, in a way that will explain the situation clearly and also maintain the good will of the employees. Background The Medical Corporation (TMC) is a worldwide marketer of medical supplies and services. Established in 1980, the company enjoyed dynamic growth during its first two decades as part of the flourishing pharmaceutical industry. TMC's revenues surpassed $1 billion in just five years, its stock rose an average of 12 percent a year during its first decade, and per share earnings consistently exceeded industry averages. However, despite revenue increases of over 10 percent each year for the past twenty years, TMC's growth appears to be slowing down, partly because the pharmaceutical industry as a whole is now being scrutinized for its excessive prices and declining service. Last year, TMC revenue in the United States was $5 billion, an increase of only 2.0 percent over the prior year; non-U.S. operations...
Words: 1513 - Pages: 7
...Executive Summary Olat Western Wear is a new apparel store that caters to the African cowboy community in Lagos, Nigeria. As our name suggests our focus is to provide western wear apparel and accessories, and position us as the top retail store servicing this particular market. We are the first and only African owned western apparel store in the city of Lagos. Our intentions are to obtain 80% market share and become a central hub of shopping activity for the local African cowboy population as well others who enjoy wearing western apparel. Olat Western Wear will be located at 20 Niran Ojo streets, Lagos in Nigeria . Olat Western Wear has centralized itself directly in position to the residental location and social activities of our target market. We believe that this is critical to our initial success and long-term growth. Objectives 1. To create a shopping environment that caters to the apparel needs of the urban African cowboy and cowgirl. 2. To earn 80% market share and become the number one ethnic western wear apparel store in 20 Niran Ojo streets, Lagos Nigeria and achieve name recognition in the local cowboy community. 3. To receive a 50% profit margin within the first year. 4. To have a customer base of 1,000 by the end of the first operating year. 5. To achieve a net profit of $75,000 by year two and $100,000 by year three. 6. To be an active and vocal member in the community supporting agricultural events, and equestrian organizations work ...
Words: 3891 - Pages: 16
...Relevant? The Short-Run Aggregate Supply New Construction NEW CONSTRUCTION BEHAVIOR What Determines New Construction? REAL ESTATE PRICE ADJUSTMENTS PRICE DETERMINATION MECHANISM LONG-RUN VS SHORT-RUN PRICE ADJUSTMENTS THE STOCK-FLOW MODEL: A FORECASTING TOOL ASSESSING DEMAND-SUPPLY IMBALANCES DEMAND-SUPPLY INTERACTIONS: MARKET INEFFICIENCIES ASSESSING THE EXTENT OF DISEQUILIBRIUM: POPULAR/SIMPLISTIC MEASURES Construction Minus Net Absorption (C-AB) Nominal Vacancy Rate (V) ADVANCED MEASURES/METHODOLOGIES Nominal vs Structural Vacancy (V-V*) Prevailing Rent vs Implicit Equilibrium Rent (R-R*) CHAPTER SUMMARY QUESTIONS REFERENCES AND ADDITIONAL READINGS - 30 - INTRODUCTION Urban real estate markets may be peculiar and idiosyncratic in a number of respects, but they still obey some basic economic principles: the principles of demand and supply. In what follows, we are going to elaborate on some basic/generic demand and supply concepts and demonstrate how they determine market prices. The premise is that supply and demand frameworks provide basic analytical tools for conceptualizing the workings of urban real estate markets. As one of the readings by a down-to-earth practitioner suggests, these simple principles have been ignored by the real estate industry in favor of boilerplate analysis or simple hunch and intuition (Featherstone, 1986). Hunch and intuition may be useful when they are based on a...
Words: 11871 - Pages: 48
