GALVESTON (Galveston County Daily News) – City council members yesterday released $25 million in federal disaster recover funding to begin the plan to rebuild 569 units of hurricane-damaged public housing.
The Galveston Housing Authority will use the money not only to rebuild the units, but also to leverage support for federal Hope VI grants to revitalize entire neighborhoods on the island.
The housing authority must rebuild 569 rental units of public housing, not homeownership units, according to an agreement with advocacy group Lone Star Legal Aid.
The first round of federal funding must be spent by September 2011, two years after the council approved the plan for spending the money.
Council members also approved conceptual plans for rebuilding three of the four public housing developments. These include Oleander Homes, Cedar Terrace and Magnolia Homes.
The housing authority will begin searching for architects for these developments as it draws up plans, which will then be sent to the planning commission to make a recommendation to the council for final approval.

The neighborhood you choose can have a big impact on your lifestyle – safety, available amenities, and convenience all play their part.

1.  Make a list of the activities – movies, health club, church – you engage in regularly and stores you visit frequently.  See how far you would have to travel from each neighborhood you’re considering to engaging in your most common activities.

2.  Check out the school district.  The Department of Education in your town can probably provide information on test scores, class size, percentage of students, who attend college, and special enrichment programs.  If you have school-age children, also consider paying a visit to schools in the neighborhoods you’re considering.  ven if you don’t have children, a house in a good school district will be easier to sell in the future.

3.  Find out if the neighborhood is safe.  Ask the police department for neighborhood crime statistics.  Consider not only the number of crimes but also the type-burglaries, armed robberies-and the trend of increasing or  decreasing crime.  Also, is crime centered in only one part of the neighborhood, such as near a retail area?

4.  Determine if the neighborhood is economically stable.  Check with your local city economic development office to see if income and property values in teh neighborhood are stable or rising.  What is the percentage of homes to apartments?  Apartments don’t necessarily diminish value, buyt they do mean a more transient population.  Do you see vacant businesses or homes that have been for sale for months?

5.  See if you’ll make money.  Ask a local REALOR or call the local REALTOR association to get information about price appreciation trends in the neighborhood.  Although past performance is no guarantee of future results, this information may give you a sense of how good an investment your home will be.  A REALOTR or the goveernment planning agency also may be able to tell you about planned developments or other changes in the neighborhood – like a new school or highway – wthat might affect value.

6.  See for yourself.  Once you’ve narrowed your focus on tow or three neighborhoods, go there, and walk around.  Are homes tify and well maintained?  Are streets quiet?  Pick a warm day if you can and chat with people working or playing outside.  Are they friendly?  Are their children to play with your family?

Reprinted from REALTOR Magazine Online by permission of the National association of REALTORS.  Copyright 2005.  All rights reserved.  http://www.REALTOR,org/realtormag.

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NEW YORK (McGraw-Hill) – The value of Texas construction starts will advance 16 percent to $52.5 billion this year, according to the 2010 Texas Construction Outlook from McGraw-Hill Construction.

Growth is expected for each of Texas’ major metropolitan areas: Austin is expected to climb 30 percent, Houston 17 percent, Dallas 16 percent, El Paso 8 percent, and San Antonio 6 percent.

Other highlights from the report:

• Housing starts in Texas are expected to advance 31 percent to $21.8 billion in 2010, with single-family housing growing 31 percent and multifamily housing gaining 34 percent.
• Nonresidential construction starts will slip 1 percent to $17.6 billion, suffering from declines in commercial and industrial starts.
• Federal stimulus funding will assist public works and utilities construction as starts rebound 21 percent to $13.1 billion in 2010.

HOUSTON (Houston Chronicle) – The Architecture Building Index remained negative in December as developers continued to struggle to attain financing.  The national index, an economic indicator of construction activity, rose slightly from 42.8 in November to 43.4 in December.  The index reflects the approximate nine- to 12-month time between architecture billings and construction spending.  Any score above 50 signifies an increase in billings.

So you’ve accepted your new job and have moved on to your new life in a different city.

The only problem is that your previous house hasn’t sold yet and now you’re faced with the prospect of selling a vacant house—a sure way to look desperate, lose money, and ensure the place languishes on the market, right? Not necessarily. There are steps you can take to make your house more appealing and marketable, even though it’s—gasp—unoccupied.

Vacant or not, the curb appeal of your house is important. Since your house is uninhabited, it’s important to make sure that the lawn is mowed, the newspaper has been cancelled, and your mail has been forwarded. Invest in some motion-activated lights for the outside. Also you may want to have a neighbor park in the driveway, if possible.

When talking about the inside of the home, keep some furniture and lamps. It seems counter-intuitive, but an empty house looks smaller than a home with a few pieces about. Additionally, when a house is totally vacant, minor defects, like a stain on the carpet or a scratch on the wood floor, tend to stick out a bit more.

Also, remember that it’s very important to keep the utilities turned on—buyers don’t like walking into a sauna in the summer or an icebox in the winter. Plus, frequent dramatic temperature and moisture changes are not good for the structure’s integrity.

Unfortunately, sometimes vacant houses can attract vandals and thieves. If you’ve got a security system, make sure it’s set, but leave your code with your Texas REALTOR®. You also want to make sure the house has the appearance of occupancy—some timers for lamps you’ve left behind are a good idea.

Some folks will even hire professional home sitters, who will rent your home for a nominal fee, furnish it with their own stuff, pay utilities, and are obligated to maintain the home in showing condition.

Finally, realize that it may be hard to insure a vacant house, so review your policy and speak with your agent to evaluate your coverage needs.

This information was provided on the Texas Association of Realtors® website.

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