Austin Commercial Real Estate Recap
June 2010Issue 24
 
 
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   Building Relationships,
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Gump Realty Group, INC.

 

Bill Gump: Bill@gumprealty.com

In This Issue
Bailout Missed Main Street
Are Pension Funds Warming Up to CRE Again?
Austin Home Sales up 31%, Condos up 63%
Forbes: Austin No. 2 Most Innovative
10 Best Cities for the Next Decade
wsletter Subtitle Month Yar
Bailout Missed Main Street, News Report Says
Wall Street Journal, Emily Maltby
May 14,  2010
 
The value of large banks' loans to small businesses shrank 9% between 2008 and 2009, more than double the 4.1% drop for overall lending, said a report released by the Congressional Oversight Panel.  Based on the Treasury's own research, smaller banks that took capital from the rescue efforts showed stronger small-business lending than comparable small banks that did not.  The oversight committee's report said it's unclear whether lending has been constricted more by a lack of lenders or a lack of borrowers.
Are Pension Funds Warming Up to CRE Again?
CoStar, Mark Heschmeyer
May 12, 2010

In the past couple of weeks, pension plans both in the United States and Canada have been showing up as buyers in trophy properties, pumping money into new investment funds and lining up joint venture investors and partners in other deals. Yet those individual deals have been trumped by the Employees Retirement System of Texas, which in the same time frame, has revealed plans to increase its commercial real estate portfolio to up to $1.7 billion from about $460 million. The increase allocation for investment.

Austin Home Sales up 31%, Condos up 63%
Austin Business Journal
May 20, 2010

Austin home sales continued to rise last month, increasing 31 percent compared with April 2009, according to Austin Board of Realtors statistics released Thursday.

Home sales for the month totaled $486 million with 2,043 single-family homes sold, according to the Multiple Listing Service report. When compared to April 2009, the median price of real estate was unchanged in Austin at $190,700. Most promising, pending sales increased 47 percent to 2,813.

Home sales also increased month to month compared with the March $422 million sales total, or 1,784 single-family homes sold. The median price also rose by $10,700 from March to April this year.


 
Forbes: Austin No. 2 Most Innovative 
Austin Business Journal 
May 25,  2010
 

Austin was ranked No. 2 on a Forbes.com listing of the nation's "most innovative" cities.

 To no one's surprise, Silicon Valley technology mecca San Jose, Calif. took the crown on the list ranking 100 of the nation's largest metros. Cities were lined up according to its patents per person, venture capital investment per capita, and finally, its ratio of high-tech, science and "creative" jobs.

U.S. Patent and Trademark Office reported Austin having about 2,900 filings in the year considered, from laser-guided pet nail clippers to an explosive chemical detector for microphones. Austin and Round Rock averaged about 2 and 1.7 patents for every thousand residents in the past 12 months, according to Forbes.



Read more: http://austin.bizjournals.com/austin/stories/2010/05/24/daily12.html?ed=2010-05-25&ana=e_du_pub
10 Best Cities for the Next Decade
By the Editors of Kiplinger's Personal Finance Magazine
May 25,  2010 

They're prosperous, innovative, and they'll generate plenty of jobs, too.

We live in challenging times. Unemployment remains high, and the U.S. lead in technology and science is slipping as many foreign countries gain ground. But some U.S. cities, though slowed by the Great Recession, still thrive by lifting good old American innovation to new levels. And that will help put more Americans back to work and keep our international edge.

In Kiplinger's latest search for top cities, we focused on places that specialize in out-of-the-box thinking. "New ideas generate new businesses," says Kevin Stolarick, our numbers guru, who this year evaluated U.S. cities for growth and growth potential. Stolarick is research director at the Martin Prosperity Institute, a think tank that studies economic prosperity. "In the places where innovation works, it really works," he says.