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Southwest dominates U.S. growth:

Location Intelligence Firm Announces the ‘10 from 2010’

Gadberry Group names the ten most notable high-growth areas in the nation from 2010

LITTLE ROCK, AR – January 5, 2011 – Gadberry Group today announced its list of the ten most notable high-growth areas in the U.S. last year – Gadberry Group’s 10 from 2010.

• Katy, Texas (Houston suburb)
• Haslet, Texas (Fort Worth suburb)
• Keller, Texas (Fort Worth suburb)
• Queen Creek, Arizona (Phoenix suburb)
• Lehigh Acres, Florida (Fort Myers suburb)
• Frisco, Texas (Dallas suburb)
• Casa Grande, Arizona (Phoenix suburb)
• South Jordan, Utah (Salt Lake City suburb)
• Lincoln, California (Sacramento suburb)
• Cary, North Carolina (Raleigh suburb)

“Compiling the 2010 list was especially interesting as we anticipate the release of the 2010 Census household counts, which we are confident will confirm our household counts,” said Gadberry Group principal Larry Martin. Headquartered in Little Rock, Gadberry Group provides location intelligence services and data for the world’s top retail brands.

The ten selected places in this year’s list had average household growth of 150% from 2000 to 2010, compared to last year’s list average of 170% from 2000 to 2009. Martin noted that, in spite of the economic challenges of the past few years, there continue to be pockets of growth in the most resilient areas of the country.

Texas appears to once again be bucking national economic trends by capturing four of this year’s slots. The Lone Star State claimed four spots on the 2009 list, as well. Industry research indicates that 1.8% job growth over the last year is likely a contributing factor.

According to Martin, most researchers agree that Census data has been the standard for understanding the distribution and demographic makeup of the U.S. population. But with the changes in how the Census data is collected under the new ACS (American Community Survey), retailers and others that rely on Census data and products which utilize Census data will have to make adjustments.

“Smaller samples and the resulting increased sampling error, along with less small-area data and less frequent collection of that data for less populated areas, means big changes in the data landscape, ” Martin said.

Gadberry Group uses its own proprietary products and a statistical ranking system that evaluates over 17,000 Census Places. The firm’s selection criteria and ranking methodology include variables such as percent change, absolute change and emerging Census blocks (those growing from less than 10 households in Census 2000 to over 100 in 2010). The analysis considers total growth from 2000 to 2010, as well as change from 2009 to 2010. Gadberry also weights the analysis using key demographic variables such as ethnicity, household income, net worth, economic stability, length of residence and age.

“This year the number-one spot went to Katy, Texas, where household growth seems unaffected by the economic conditions that challenge many parts of the nation,” Martin said. “Katy topped the list with an 8.71% increase in households from 2009 to 2010.”

Many of this year’s finalists repeatedly make the top 25, including: Helotes, TX; McKinney, TX; Summerlin, NV and Wentzville, MO.

By the Numbers – 10 from 2010

Katy, Texas

Katy was one of the top 25 candidates in 2008, took the number-five position on the 9 from 2009 list, and occupies the number-one position on the 2010 list. This suburb of Houston added 17,641 households since 2000, increasing 8.7% from 2009 to 2010. Overall, Katy was the fourth fastest growing area of the ten since 2000, with a 267.0% growth rate. The Cinco Ranch development continues to contribute new households to Katy’s growth.

Katy’s average household income grew over 21% since 2000 to end the decade at $85,810. Average household net worth for 2010 was $250,498, while average length of residence was 4.7 years. Katy continues to be very diverse ethnically. Asians increased over 3,000% to 1,935 households, representing 8% of the total current households. The two largest Asian groups are Chinese with 2.89% of all households and Indian with 2.59%.

The oil industry draws some of the area’s largest employers, including companies such as Exxon, BP & Conoco. The rebound in oil prices has undoubtedly helped the growth of this community and Texas as a whole.

WHAT FUTURE HOLDS FOR HOMES

ORLANDO (Real Estate Center) – The home of the future doesn’t include Jetson-style hovercrafts or robotic maids — yet — but there are some key changes worth looking for if you’re a builder.

Based on responses to a recent survey by the National Association of Home Builders (NAHB), here are some ways in which builders can expect homes to change by as early as 2015:

• Single-family homes will get smaller (74 percent of respondents said).
• Homes will have more “green” features (68 percent).
• Homes will have more technology features (29 percent).
• Homes will have more universal access features (20 percent).
• Homes will have more outdoor living features, such as kitchens and fireplaces (10 percent).
• The average home size will be roughly 2,150 sf.
• Living rooms will merge with other spaces in the home (52 percent), vanish to save on square footage (30 percent), or become a parlor/retreat/library or music room (13 percent).
• If the living room doesn’t vanish, it will likely decrease in size (76 percent).
• Also downsizing are the entry foyer (66 percent) and dining room (63 percent).
• Features “very likely” to be included in a new home in 2015 include a kitchen-living room combo (“great room”), walk-in closet in master bedroom, laundry room and two-car garage.
• “Unlikely” features include three or more bathrooms, mudroom, unheated porch, dining room, skylights, three-car garage, four or more bedrooms, media room and two master bedroom suites.
• Homebuyers are “somewhat likely” to want universal design features such as stepless entries, three-foot-wide doorways and four-foot-wide hallways, stepless showers that have seating, non-slip floor surfaces and grab bars in bathrooms.
• People seem likely to lavish more attention on the kitchen, ensuring that room will retain its status as the home’s social center. Survey respondents said they are “very likely” to want double sinks, recessed lighting, table space for eating and breakfast bars. They’re “somewhat likely” to want a central island, walk-in pantry, recycling center and desk/computer area.

Help your buyers find help
The federal tax credit is gone, but many assistance programs in Texas are still available to your buyers. Help them find one at TxHomePrograms.org, a searchable database of homebuyer-assistance programs created by the Texas Association of REALTORS®. Your clients enter basic household and income information to see if down payment assistance, below-market interest rates, or other programs are available to them.

TxHomePrograms.org also has a glossary of real estate terms, outlines the hombuying process, and provides information on issues that affect many first-time buyers, such as predatory lending and credit repair. 

Except for June 10,2010, Texas Realtor Focus

Where Do Buyers Come From?

·      REALTOR^® Contact                                  40%

·      Yard Sign                                                  20%

·      Responded to Ad                                     18%

·      Responded to Open House                       8%

·      Referral by Relocation Service               7%

·      Bought Advertised Property                    3%

·      Bought for Combination of Reasons       3%

·      Bought Open House They Saw               1%

Determining the market value of your home

Market value is the value of your house as seen through the eyes of a prospective buyer who has many properties to choose from.