Texas Home Sales Continue To Increase in 3rd Quarter

Texas home sales increased 6.4%—to 100,733 sales in the third quarter of 2019—compared to the same period last year, according to the 2019 Q3 Texas Quarterly Housing Report released today by Texas REALTORS®.

The statewide median home price for the quarter also increased to $245,000, a 4.3% increase over the third quarter of 2018. Of all sales during the third quarter of 2019, 33.4% were priced from $200,000 to $299,999. Homes priced from $100,000 to $199,999 represented 26.9% of sales for the quarter.

“Texas ended the summer selling season with continued growth in home sales and median price in most of the major markets,” said Tray Bates, chairman of Texas REALTORS®. “Our housing market remains healthy due to strong demand and steady increases in housing inventory.”

There was an increase of active listings from the previous year of 3.5% for 111,013 listings in the third quarter of 2019. Texas homes spent an average of 54 days on the market, two days longer than the same quarter last year.

“The Texas housing market continued to spur strong demand during the third quarter,” said Jim Gaines, Ph.D., chief economist with the Real Estate Center at Texas A&M University. “Based on sales activity, we saw prices, months of inventory, and active listings all experience significant growth in most of the markets across the state. During the remainder of the year, we expect attractive interest rates to incentivize homebuyers. In addition, new home construction will continue to pick up in markets such as Houston and Dallas, leading to an increase in housing inventory availability.”

Update on Lakes and GBRA

The Guadalupe-Blanco River Authority won’t be draining its 4 remaining lakes on the Guadalupe River, but all recreation on the water will soon be banned. This is a temporary ban possibly, with more details to follow.

On Monday it was agreed that lakes McQueeney, Placid, Meadow and Gonzales will stay full for at least the next year. But starting Thursday, no one will be allowed to use them for any reason. This will be a monitored situation by local law enforcement.

A panel of three experts will then determine whether the lakes are safe to reopen any sections. The panel will include one expert selected by GBRA, one selected by the property owners that sued GBRA and those two experts will select the third. The panel is expected to take 30 days and possibly up to 60 to determine any safe sections of the lakes for use.

This has been a situation that was highly emotional for many as the possibility of the impact on property values, the local economy and the ecosystem was called into question.

Melissa Trost is the Chair of the Seguin – Guadalupe County Governmental Affairs Subcommittee and is continuing to be part of this situation and rendering information and support as able. The Four Rivers Association of REALTORS supported a resolution requesting the lakes not be drained without a solid plan in place and a timeline for moving forward. Texas REALTORS are adamant in protecting private property rights and we will continue to monitor this situation and be involved at a local level.

Call to action – Dam update

For those following the GBRA dam issues we are being encouraged to call the Office of the Governor to let them know you are opposed to the dewatering of the lakes.
512-463-1800
You do NOT have to live on the lake to call. This has a substantial ripple effect that will be felt in many ways in our community! This information and many more has been going around on Facebook and other social media and there are a lot of concerns not being addressed. If you have any questions please call us!

GBRA Dam and Lake Update

Unfortunately those that live on our area lakes did not get the news they were hoping for today. GBRA released information that they will begin draining the lakes September 16th. The dewatering will begin with Lake Gonzales then move to Meadow Lake, Lake Placid and Lake McQueeney. Each lake is expected to take 3 days and all lake are expected to be completed by the end of September.

More information is available at the GBRA website. We will continue to monitor this situation and bring updates as available. Lake Dunlap property owners are still working hard to find a way to save their lake and fix the dam. They are working on meetings and options moving forward. Lake McQueeney owners were in discussion as well and are trying to come up with options and have a lawsuit filed against GBRA.

Lake Dunlap Update

As REALTORS, it is important to use to advocate for the rights of our clients and this includes being in the know on local matters. The dam failure has been a hot topic and we are working together to understand options for those dealing with property concerns after the failures. Call us if you have questions. Here is an update below:

There’s hope for our lake! A plan has been put together by several people including our local lawmakers, not just a select few people. Here’s a viable plan to return Lake Dunlap.

Read below for details and get involved if you can.

If you have ideas or questions, get with a PLDA board member or your representatives who helped craft the plan.

——————————-
UPDATE FROM PLDA

Lake Dunlap Restoral Proposal
June 20, 2019

The Preserve Lake Dunlap Association (plda.org), in collaboration with local government agencies and local political leaders, has been working to locate funds that can be allocated to repairing our dam since the day the dam broke on May 14, 2019. Unfortunately, to date, all the many avenues that these groups have pursued in the search for help — at the federal, state, and local levels, including the legislature, FEMA, local government, disaster and economic relief and more — have turned out to be dead ends for a variety of reasons related to the special nature of this dam and its particular form of demise.

The consensus is that the possibilities for government aid will likely diminish even further as the dam failure moves from the public’s recent memory. At this point there seems to be no where we can turn.

Thanks to the hard work of our local state representatives, State Senator Donna Campbell and State Representative John Kuempel, as well as Guadalupe County Judge, Kyle Kutscher, along with the PLDA board, there is at last some good news.

A plan for the waterfront property owners to take over control of the dam via the creation of a water district has been proposed, and was shared last night with members in attendance at the PLDA monthly board meeting. Essentially, this plan has the lakefront owners, as the ones most affected by this, to now step up and fix it ourselves. The goals of the plan are straightforward:

1. To restore and preserve the value of the waterfront property along the shores of Lake Dunlap.
2. To restore the economic viability of businesses that support recreation on Lake Dunlap.
3. To ensure that the dam is repaired in a way that preserves the legacy of Lake Dunlap for our families and future property owners for generations to come.

The fact is that unless we come together with one mind, determined to create a solution where none currently exists, the lake is going to stay the way it is, and in time, few will remember the quality of life we enjoyed here. This proposal is currently the only viable solution on the table anywhere, and it gives the lakefront property owners a direct say in the operation and maintenance of the dam.

The essence of the plan is to create a water district under the authority of the Texas Commission on Environmental Quality (TCEQ). You can learn more about water boards and what they do at https://www.tceq.texas.gov/waterdistricts. The entities creating the district would be the PLDA, the GBRA, and Guadalupe County, but the district would be under the control of the lake front property owners via a board of directors. The district would actually own the dam, which the GBRA has offered to transfer to the district for one dollar.

It is too soon in the process to know the final numbers, but our initial plans indicate that an assessment of $6-8 a linear foot of lakefront per year for 30 years would do the job, and then of course the assessments would drop considerably. To help keep the assessments low, our partners, the GBRA and Guadalupe County would make significant investments as well.

There is still a great deal of work to be done, and currently this is just a proposal, but the PLDA Board endorsed it last night in their meeting. More than 100 members of the PLDA were in attendance, as well as the PLDA board.

As soon as the details are hammered out, and we have formal commitments from the partners, we will plan another public meeting for the lakefront property owners to present the plan, answer the many questions we know will need to be addressed, and to continue to preserve the transparency we have been encouraging throughout these challenging times.

Please continue to look to the PLDA as the best source for news as this proposal makes it way forward in the coming days and weeks.

Thank you for supporting PLDA,

J Harmon
President

jrharmon123@yahoo.com

We advocate for you!

Does your REALTOR advocate for you? At Corner Post Real Estate, our clients are always our top priority. This means staying current on any events that could impact private property rights. From taxes to the GBRA Lake Dunlap dam collapse and more. We have attended meetings and are part of a group hoping to help brainstorm to get our lakes back. Call us today if you have any questions. Click the link below to visit the Guadalupe Blanco River Authority webpage for additional information.

https://www.gbra.org/news/default.aspx

New listing – oversized lot and shop!

This home has it all! 3 bedrooms, 2 bath with a 25 by 50 insulated shop built in 2017 and an oversized door for all of your toys! The back patio was recently added and is the perfect place to enjoy the country views on this oversized lot. Modern updates and conveniences abound! Gutters on the home and shop, an additional 8 by 12 storage building, solar screens and new roof! The stools, refrigerator, washer, and dryer convey. Almost half an acre lot gives you elbow room but the location is perfect for commuting and offers the conveniences of high speed internet and NO HOA! Give us a call today to schedule your showing today!

https://cornerpostrealestate.com/idx/Residential/376241.html