Africa Coming to Round Rock

Local news sources from KXAN and the Austin American Statesman report that an African themed water resort will be coming to Round Rock and is to be built near the Dell Diamond on 350 acres.  This is no small venture and won’t be ready until 2020.  Planned are a 200,000-square foot indoor water park and a 990-room resort hotel.  Also planned is a 150,000 square foot convention center.  There will be several small man-made lakes with restaurants near the water.  The price tag is estimated to be $250M and will have an estimated 700 permeant jobs.  Of course there will be hundreds of construction jobs over the next few years to pull all of this off.  The developer looked at Dallas, San Antonio, Frisco and Houston before deciding on the Round Rock location. What they liked most about Round Rock was the “can do” attitude that the city takes towards development.  Also coming into play were local events and large evens such as Formula One and the Austin City Limits music festival.

This just makes good sense to me.  Since we still have about 150 people a day coming into our area with about 100 of them landing in Travis and Williamson County these folks need a place to take their families and to relax, and of course to spend money.

These are more good reasons that owning Austin area real estate makes good sense.

Rick Ebert / Austin, Texas / 17 June 16

Austin Area Jobs:  Looking Good – No Looking GREAT!

According to a recent article in the Austin American Statesman Austin added 21,200 jobs from October 2015 to October 2016.  To me that figure represents a small city so it is pretty darn impressive.  Shadowing this figure is the Austin metro area unemployment rate which is reported at 3.2%.  To me this means that anyone who wants a job can have one.  In October, 2015 the unemployment rate was a whopping 3.3% so obviously the Austin area is the envy of any city, anywhere, period.  Drew Scheberly from the Texas Workforce Commission was quoted as saying that the average family income in the area is increasing as are the jobs responsible for that and he expects the trend to continue.  Namely there is a demand for people to fill positions in the areas of medical and high tech, all of which have nice pay scales.  Let’s not forget that Samsung recently committed to invest an additional $1 billon in its local chip manufacturing and plans to add 500 engineering jobs.

So for us investors in Austin area residential rentals the future looks sunny and bright.  I’m glad to hold several residential rentals. 

Rick Ebert / Austin, TX/ 21 Nov 16

Austin is a Landlord’s Market

Yesterday local news station KVUE ran a piece on the Austin apartment situation.  The reporter quoted AustinApartment.com which stated that apartment rents have increased more than 5%  this year.  This trend is expected to continue because, even though many apartment communities have been built construction is expected to slow down because of tightening lending require- ments.  The piece went on to state that renters these days are not necessarily just looking for larger spaces but want amenities.  What does this mean for us landlords of single family dwellings?  It means that we have to offer housing that is well maintained and in good repair.  It also means that we need to offer amenities to go along with the sticks and bricks.  In our area such amenities include ceiling fans in the living room and bedrooms, garage door openers, expanded decks or patios, irrigation systems, and similar items.  These amenities not only shorten the vacancy period but will be reasons for the tenant to remain in place.  Naturally it also adds value to the property.

So owning residential real estate in the Austin area is wise choice that is hard for any other investment to beat.

Rick Ebert / Austin, Texas / 1 Nov 16