Houston, Dallas-Fort Worth and Austin made the top 20 list of cities in Policom’s 2010 Economic Strength Rankings report.  The report, which is published annually and uses data going back to 1989, focuses on long-term trends inside of 366 different Metropolitan Statistical Areas.  Volatility is a main consideration in terms of how the areas behave over time.

• Houston-Sugar Land-Baytown ranked 4^th
• Dallas-Fort Worth-Arlington ranked 10^th
• Austin-Round Rock-San Marcos ranked 12^th

The report can be found here

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The newest development in Dallas’s Uptown neighborhood is scheduled to be finished and completed by July 1, 2010.  The office tower, which is connected to its sister tower Park Seventeen, offers 361,524 square feet of Class AA office space.  The 19-story property will also contain roughly 6,500 square feet of space for a bank lobby, 9,000 square feet of restaurant space and around 6,000 square feet of retail space.  Granite Properties is the owner and developer. 

The residential tower will offer 292 luxury apartments by Gable Residential.  Covering 19 stories and 343,000 square feet, the residential property will boast some enticing amenities such as scenic views of the Dallas Arts District and Downtown skyline, the soon to come Woodall Rogers Park and a one-acre park deck with pool and 4,000 square foot fitness center.

A report just out by Newgeography.com shows that Texas has again held top spots for job growth.

The report, which pulls monthly employment data from the Bureau of Labor Statistics on metropolitan statistical areas, comes from 10 years of three month rolling averages from 1999 to 2010.

Texas benefits from a consistently lower cost of living, a favorable climate for entrepreneurship and diverse industry opportunities.  Energy has naturally also been a helpful buffer for the Lone Star State.

The Texas cities include:

1. Austin-Round Rock-San Marcos
2. San Antonio-New Braunfels
3. Houston-Sugar Land-Baytown
4. Dallas-Plano-Irving
5. Fort Worth-Arlington

Hotel Foreclosures continue

The Dallas Morning News has reported that Dallas/Fort Worth area hotels are seeing higher numbers of distressed properties being sent into foreclosure this year.   Data from Foreclosure Listing Service shows that this year has already eclipsed 2009 in terms of foreclosed hotels operating in the Dallas/Fort Worth area.

Hotel properties going into foreclosure this year are touching both ends of the spectrum – from high end hotels holding up to $183 million in debt to small motels with up to $1 million in debt.  With occupancy around 45%, the U.S. hotel industry has not seen times this bad since the 1930′s.

• 2008 – 18 foreclosures
• 2009 – 41 foreclosures
• Q1 of 2010 – 43 foreclosures

George Roddy with Foreclosure Listing Service says that the Dallas/Fort Worth hotel market was “overbuilt and overfinanced”.  The hotel industry currently has a higher proportion of distressed properties than any other real estate asset class nationwide.

Canyon Creek is one of the most prestigious neighborhoods to live in, because of the beautiful winding tree-lined streets, and Creeks that runs through the neighborhood.  The prices of homes for sale in Canyon Creek Richardson TX start in the $200′s and go over $1,000,000.  The average list price of homes for sale in Canyon Creek is about $250,000, and the average home size being about 2200 Square Feet.  (more…)

This Live Oak Dallas Condo for Sale is an interior unit, which makes it very quiet, with only 1 neighbor on one side.  It also has a pool-view. The loft is extremely energy efficient with energy bills ranging from just $30 to $150.  (more…)

Lake Park Estates Townhomes in Richardson TX is in a fantastic location, located just North of Campbell on Mimosa (between Coit and Waterview). 

The subdivision is conveniently located, right behind a large grocery store (Tom Thumb) and many restaurants, including Mi Cocina, La Madeleine, and several boutique shops, all within walking distance!  Also, it is located near within a few miles of a large hospital (Methodist Richardson Medical Center).  (more…)

Homes for Sale in the Reservation in Richardson, TX do not last on the market for very long.  This highly sought after neighborhood is in a fantastic location, located between Coit and Waterview (East to West), and between Melrose and Arapaho (North to South). The streets are draped with mature trees, and the streets wind with character. (more…)

This 1 Bedroom 1 Bath loft in Live Oak Lofts, Dallas TX has a great Urban feel, with exposed Ducts and Beams, and is upgraded with Slab Granite Counter-tops, Wood flooring, and Stainless Steel appliances.  This loft has a full-sized washer/dryer area.  It is a quiet corner unit with a great view of the pool & courtyard.  (more…)

Lennar Homes at has new construction homes for sale at Hidden Cove in Frisco, TX from the $140′s-$170′s (Nuhome Collection) and from the $180′s to $240′s (Highland Addition).  The Highland Collection has more options and upgrades than the NuHome Collection (Granite, Stone Elevation, wood flooring, & versatile floorplans available).  (more…)