I hope everyone is enjoying 2011!  It seems like most forecasters are predicting a stable, slightly better upcoming year.  I recently read an article in The New York Times which analyzed the population shift to the Sunbelt.  Expanding on the two most common explanations of climate and commercial (right-to-work laws), it focused on economic productivity created by low regulations.  One premise is that housing costs are lower not because of land availability but because the rules that regulate local land use.  In many areas the writer felt regulators focused on the wrong regulations which in turn made it hard to build. Obviously that is not the case in west Houston!  Katy recently topped a list of the 10 growth areas in the country published by Gadberry Group.  Katy added 17.641 households since 2000, with a 8.7% increase from 2009 to 2010!  Two other Texas cities were behind Katy—Haslet and Keller (Frisco was number 6).   

Texas is one of six states projected to grow more than 2.1% between 2010 and 2016 according to HIS Global Insight.  The expected 2.3% growth will be pushed in part by high-tech manufacturing.  Texas also leads the nation as the number one magnet state according to Allied Van Lines.  Texas had the highest net relocation gain (inbound moves performed by Allied minus outbound moves).  Manufacturers’ News Inc. reported that Houston is the No. 1 manufacturing employer in the country, with 228,226 workers in a report released December 29th.    

With all this good news—it’s good to have a place to celebrate!  Did you know that Esquire magazine named Houston as one of the top 10 restaurant cities in the nation (ranked #7).  Maybe it’s time for you to discover Houston’s hidden haunts!  Fourteen area top chefs have created the “Where the Chefs Eat” Culinary Tours.  The tours, limited to 16 participants, are $180 per person, which includes tasting at each stop, complimentary Saint Arnold’s beverages, limo-bus transportation and a gift bag.  Ticket proceeds benefit the Houston Food Bank.  Several of the events have already sold out, but you can go to www.HoustonCulinaryTours.com  for more information.    

 If you are looking for a place to go on your own, Anvil partners are planning a new craft-beer bar that “will offer great food.”  Located at 1100 Westheimer, the new establishment called Hay Merchant will have a carefully edited 80 microbrews on tap.  They are targeting a fall opening date.  A new yogurt retailer just opened at First Colony Mall called Maiberry (pronounced my berry).  What sets Maiberry apart from other frozen yogurt shops is that it uses dextrose, agave nectar and organic sugar products instead of regular sugar—according to the owner it makes it “diabetic friendly.”  Carl’s Jr. recently opened its first Houston restaurant at 8491 Highway 6 North at West Road.  The West Coast-based company is known for its sit-down restaurant quality burgers.

For those budding chefs, Urban Harvest is partnering with Highland Village (4000 Westheimer) to manage and expand the upscale shopping center’s farmer’s market this year.  Open on Sundays from 9 a.m. to 1 p.m., the farmers market will feature a farm-to-table market brunch theme each Sunday with chef and farm-driven market menus.  It will also have a Chef’s Corner, sponsored by My Table magazine, where chefs perform live cooking demos using local products.    

Citizens for Animal Protection (CAP) has moved from 11925 Katy Freeway to 17555 Katy Freeway (near the Barker Cypress exit).  Two developers are exploring new outlet centers on the southeast side of town.  Tanger Factory Outlet Centers (owns the San Marcos Outlet Center) is considering 35 acres in League City near I-45 and FM 646.  At the same time, Simon Property Group (Katy Mills owner) is planning to build a 350,000 sq.ft. center at I-45 south of Holland Road.  We’ll keep you posted on what develops!

Recently Houston Business Journal published the wealthiest zip codes in the Houston area and gave them names.  For example 77494 (West Katy) is referred to as “Sophisticated Squires” (often married with families, good jobs, long commutes, like working on their homes & lawns; drive SUVs and minivans); 77450 (South Katy) “Boomburbs” (the new suburbanites—busy, affluent young families with median age of 34, two income families, two cars and the latest electronics).   So, where is the wealthiest ZIP code?  77094 (West Houston).  West University (77005) was listed number 2!

 On the real estate front, area 36 (South Katy) was number one on the Hotness Index.  Citywide, December statistics showed home sales were down from December 2009, but prices were up.  A total of 51,428 homes were sold in 2010 as compared to 54,531 in 2009; however the average price of a single-family home increased 4% last year to $211,765 in 2010 as compared to $203,626 in 2009.  The Houston inventory rate is currently at 7.2 months as compared to a national rate of 9.5 months supply.  6-7 months is considered a “normal market” whereas 9 months is considered a “buyer’s market” and under 5 months a “seller’s market.”     

As a reminder, if you want to know what is happening in your neighborhood Prudential has a service where we can enter your name & e-mail address.  You will receive a monthly activity report on your area.  If you are interested in receiving this, please e-mail or call me and I will sign you up.  Sometimes it is nice to just see the pulse of a neighborhood—especially if you are considering selling and have the flexibility of timing.