Welcome to the Mission Mortgage of Texas, Inc. blog page. We use this blog to highlight news, announcements, and information that is relevant to the real estate market, with an emphasis on Austin and Houston, where we have offices located. Our goal is to help real estate agents, brokers, builders, developers, and anyone else with an interest in the housing industry to obtain the latest info needed to be successful.
The Mission Mortgage Blog
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Local Tech Companies Raise Over $15 Million
Posted by in Austin Facts, General Information
Tagged Austin, development, investing, technology, texas
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Two of Austin’s emerging technology companies, NextIO Inc. and Mass Relevance Inc., have managed to raise $15.6 million in new investments.
NextIO is an information tech that has been a leader in data-networking equipment. It was founded in 2003 and it based here in Austin, TX. Their main offering includes rack mounted components that provide virtualization solutions for data centers.
They have just completed their sixth round of investing of $12.3 million, which will assist them in expanding sales, marketing, and product development. Since the company’s inception they have been able to raise $75 million.
Mass Relevance is a social media and marketing company who has worked with the likes of the NFL’s New York Giants, Target, Ford, and the NBC, CBS, FOX, and ABC Networks. Mass Relevance works with these brands to help expand and develop their social media presence through effective marketing campaigns.
Earlier this week, Mass Relevance was able to raise $3.3 million in their second round of investing. Since Mass Relevance’s beginnings just a mere 16-month ago, they have been able to raise $5.5 million.
Both of these companies will help in Austin’s recent growth, as well as help Austin define itself as a viable market for the technology industry.
To read more the original Statesman article, please click here.
Intel Opens New Austin Office
Posted by in Austin Facts, General Information
Tagged Austin, city, construction, development, economic indicators, jobs, technology, texas
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Intel opens the doors at a new larger Austin office that will house 1,000 employees this week. The new office is sized at 389,000 square feet and is located at 100 S. MoPac Blvd. The new building will be used to merge and develop its engineering operations.
The building on South Mopac that was purchased by Intel formerly held the headquarters for Guaranty Bank and had been held by the FDIC since August 2009 when the bank was shuttered. The FDIC put the building up for auction by sealed bid earlier this year. Last year we did a write-up when Intel had initially purchased the lot and building for their new expansion.
Intel engineering manager Rohit Vidwans says the new office shows “the criticality of the Austin site to Intel. Intel is very serious about Austin as a main design center. We are expanding. We will continue to focus on very key products.”
Intel has been hard at work trying to prove itself as a viable competitor in the mobile computing marketplace that has developed in the past few years. This new office will be essential in the function, as Intel works on its Medfield chip platform, which is already being used in prototype phones.
This news comes off the heels that Apple will be releasing new, slimmer laptop computers later this year with Intel’s newest processor chips. These new MacBook Pro machines will most likely be announced at the Worldwide Developers Conference taking place next month.
For information about jobs at Intel, please click here.
For the original article from the Austin-American Statesman, click here.
Four Things To Do In Austin This Week
Posted by in Austin Facts, General Information
Tagged Austin, events, music, texas, things to do
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This feature highlights four events or activities in Austin and the surrounding area every week. If you have suggestions for events to be mentioned, please email them to info@missionmortgage.com.
1. Join the Metz Recreation Center on Monday and Friday nights on their Ride Around Austin. For more, click here.
2. Celebrate Mother’s Day this Sunday at the Mother’s Day Concert at the Capitol. The Austin Symphonic Band will be playing an hour long set beginning at 7 pm. For details, please click here.
3. Immerse yourself in Latin-themed music, arts, and food at the Pachanga Latino Music Festival taking place this weekend. For more information, click here.
4. Another week of great Music in Austin: Anders Osborne at The Parish on Friday, Foreigner at The Backyard on Saturday, Jane’s Addiction at Bass Concert Hall on Saturday, and Snow Patrol at Stubbs on Thursday
Compiled by Diego Menchaca for Mission Mortgage, May 11, 2012
For those seeking more options for things to do in Austin, we recommend the following websites:
www.do512.com - By far the easiest to navigate and search and they give away plenty of tickets to shows every week.
www.c3concerts.com/ - Another easy-to-use site provided by the same folks that produce the ACL Music Festival every year.
www.austinchronicle.com – Less user-friendly, but a wide variety of events, activities, and stories about the Austin music scene.
www.austin360.com – Provided by the Austin American-Statesman newspaper. Again, not the most user-friendly, but filled with great ideas every week.
Silver Oak Keeps Growing
Posted by in Austin Facts, General Information, Mortgage News
Tagged Austin, builder, buyers, city, construction, development, real estate, SIlver Oak, texas
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Silver Oak Townhomes is growing and Mission Mortgage of Texas, Inc. is proud to offer our lending expertise to this inspiring project. The new model is open and construction continues on the newest phases of the development. With high quality construction and a keen attention to detail, these brand new homes offer a low maintenance lifestyle in a very hot part of town.
Located just 20 miles northwest of downtown Austin, the Silver Oak community is ideal for those who wish to have access to the entertainment opportunities of the city as well as the ability to step away from the city for relaxing times at home. The northwest location also puts these townhomes just minutes away from the Cedar Park Center, home of the Austin Toros basketball team and the Texas Stars hockey team. Dell Diamond, home to baseball’s Round Rock Express – the AAA affiliate of the Texas Rangers, is just 10 miles away.
Construction at Silver Oak follows a long tradition of quality. When Thyssen Development embarked on bringing new life to the project, they brought with them useful, resident-focused designs at a smart price. Units range from 1,653 to 2,464 square feet and are loaded with standard features that would be considered an upgrade in homes twice this price. The result is a lively community that is still growing, filled with satisfied residents who love their homes and their neighborhood. With over 25 years in the home building industry, Thyssen Development has come to Silver Oak and made it their own. Silver Oak Townhomes has now found new life and new residents continue to move in. Driving through the project it is clear that a beautiful community has taken root.
Mission Mortgage of Texas, Inc. was brought in to offer our expertise to potential new residents and we have watched the project blossom. More sales have led to more plans which have led to more construction. New homes are still being built (with plans for more in the works) and Mission Mortgage is helping along the way to provide FHA, VA and Fannie Mae condo project approvals, which makes these homes more obtainable to a wider range of potential buyers. Silver Oak Townhomes continues to grow, helping to provide an outstanding residential product for a highly competitive price in an area that is growing.
We are proud to be the preferred lender for Silver Oak Townhomes and we invite you to learn more about the community by visiting their website at silveroakcedarpark.com. If you would like to know more about our financing options available for this project, please contact Nelleen McCormick, Senior Loan Officer for Mission Mortgage of Texas, Inc. at 512.328.0400 or by emailing nmccormick@missionmortgage.com.
ABOUT SILVER OAK TOWNHOMES
Silver Oak Townhomes offers three different floor plans with 2, 3, or 4 bedroom options available, priced from the low 160s. Units range from 1,653 to 2,464 square feet and are loaded with standard features that would be considered an upgrade in homes twice this price. FHA and VA approved allows for a low down payment option for buyers. Many ready to move-in options available. To set up your no obligation appointment to tour the property, please contact Andrew Gomes at 512.293.3987 or email him at agomes@silveroakcedarpark.com.
Austin Named America’s Fastest Growing City
Posted by in Austin Facts, General Information
Tagged Austin, development, economic indicators, rankings, texas
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In a new Forbes list, Austin was named the number one fastest growing city in the United States. Austin shows a projected economic growth rate of 6.1% between 2011 and 2016. Furthermore, Austin’s population growth rate is at 2.8%, with a median income of $56,613. Austin’s current MSA (Metropolitan Statistical Areas) population is 1.8 million.
Texas as a whole did very well in Forbes’ list, with Dallas, Houston, and San Antonio also ranking in the top ten alongside Austin. Variables such as low taxes and cheap real estate helped in drawing jobs from around the country to Texas.
In the past year Austin has shown an eagerness to expand and grow, especially through making efforts to increase the presence of companies like Amazon and Apple. Growth in Austin has also been aided by increases in construction and clean-energy jobs, as well as a thriving real estate market.
In compiling their Fastest Growing Cities List, Forbes puts emphasis on cities that are growing, but more so on cities that are creating opportunities.
See the full list below:
To see the original Forbes’ article, please click here.
Four Things To Do In Austin This Week |
This feature highlights four events or activities in Austin and the surrounding area every week. If you have suggestions for events to be mentioned, please email them to info@missionmortgage.com.
1. Get a sampling of some great homemade art and craftwork at the Old Pecan Street Festival taking place Saturday and Sunday. For more, click here.
2. Enjoy the Cinco de May Festivities taking place this Saturday at the 4th Annual Cinco de Mayo Downtown Block Party at La Condesa. For details, please click here.
3. You or someone you know looking for a job? Check out the Austin Job Fair, taking place Monday from 11:00 am to 2:00 pm at the Holiday Inn Austin Midtown. For more information, click here.
4. Another week of great Music in Austin: Death Cab for Cutie at ACL-Live on Friday, Gipsy Kings at The Backyard on Saturday, Rodrigo y Gabriela at Stubbs on Saturday, and Tom Petty and the Heartbreakers with Regina Spektor at Frank Erwin Center on Saturday.
Compiled by Diego Menchaca for Mission Mortgage, May 4, 2012
For those seeking more options for things to do in Austin, we recommend the following websites:
www.do512.com - By far the easiest to navigate and search and they give away plenty of tickets to shows every week.
www.c3concerts.com/ - Another easy-to-use site provided by the same folks that produce the ACL Music Festival every year.
www.austinchronicle.com – Less user-friendly, but a wide variety of events, activities, and stories about the Austin music scene.
www.austin360.com – Provided by the Austin American-Statesman newspaper. Again, not the most user-friendly, but filled with great ideas every week.
Amazon To Bring 2,500 Jobs, Sales Tax to the State
Posted by in Austin Facts, General Information
Tagged Austin, investing, jobs, taxes, texas
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After a two year battle between the Texas Comptroller and online realtor Amazon.com, the two have finally come to an agreement in which Amazon will bring 2,500 jobs to the state along with a $200 million capital investment.
Also part of the deal, Amazon will begin collecting sales taxes in Texas starting July 1. Up until this point, Amazon did not charge standard sales tax to its customers on items purchased from Amazon.com.
Amazon is being given four years to meet its side of the agreement on jobs and the capitol investment. According to the comptroller’s office, in return Amazon resolves all sales tax issues it had with the states of Texas. Part of these previous issues was a $269 million assessment levied against Amazon by the comptroller’s office in September 2010 because of uncollected sales taxes between 2005 and 2009.
This is a big win for the state of Texas, as most agreements Amazon has made with other states involves them delaying the collection of sales taxes for several years. For Texas, Amazon will have to begin collecting sales taxes in just a few short months.
Amazon currently has a small distribution center in Irving, TX that houses 119 employees.
To read the full article from the Statesman, please click here.
Austin Sees Tighter Home Sales Market in Q1
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According to the Texas Quarterly Housing Report, the Austin home sales market is getting tighter as a result of lower inventory and higher median and average prices. The report was released Tuesday by the Texas Association of Realtors.
The Real Estate Center at Texas A&M University defines a balanced market as having 6.5 months of inventory. During the first quarter of 2012, inventory in Austin has been at 4.3 months, creating a market that weighs in favor of sellers. At the end of 2011, Austin’s inventory was at 4.6 months, while one year ago inventory was at 6 months. This is an indicator, as previously reported, that the housing market is continuing to improve in Austin.
Jim Gaines, an economist with the Real Estate Center at Texas A&M, said “We believe several factors are driving the strong performance of the first quarter, including continued job growth in Texas and some increased access to credit for home buyers.”
Compared to a year ago, sales of single-family home sales are up 12 percent in the first quarter of 2012. Furthermore, the median sold home price in Austin went from $185,700 last year, to $191,900 the first quarter of 2012.
Texas Association of Realtors chairman Joe Stewart feels that the momentum looks good. “If all the indicators play out as we expect, the Texas real estate market is in for a busy spring and summer,” Stewart said.
To read the full article from the Austin Business Journal, click here.
Texas a Leading State for Clean-Energy Jobs
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According to a new Environmental Entrepreneurs report, Texas has managed to create 1,681 new jobs in the clean-energy industry through the first quarter of 2012.
Texas, and specifically Austin, has shown to be a leader in job creation in the last decade. Within the past year Texas has experienced significant job growth, with several corporate expansions planned that will pave the way for new jobs. Companies like Lumeris and Apple have committed to expanding and creating new jobs in Austin. Because of increases in the housing market, construction jobs have also risen 6 percent in the last year.
According to the report, 42 states have announced increases in jobs. Of those 42, about two-thirds of the job announcements came from ten states, with Connecticut leading the way with 4,500 jobs announced in the first quarter of 2012. Texas ranked number 10, creating 1,681 new jobs. Sectors that showed the most improvement in job growth included wind and solar power, which accounted for over 27,000 new jobs nationwide.
Below is a graphic of the top ten states for clean-energy jobs announced in the first quarter of 2012.
To read the original article from the Business Journal, please click here.
Four Things To Do In Austin This Week
Posted by in Austin Facts, General Information
Tagged Austin, music, texas, things to do
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1. Enjoy the amazing food that Austin’s best have to offer at the Austin Food and Wine Festival taking place this weekend. For more, click here.
2. Watch the University of Texas Men’s baseball team take on arch-rival Texas A&M one last time, as the rivalry comes to an end with one last game in Austin. For details, please click here.
3. Take a look at the incredible work of Jared Dunten at the 2012 Dunten Gallery Spring Show on Saturday and Sunday. For more information, click here.
4. Another week of great Music in Austin: Eddie Veder at Bass Concert Hall on Saturday, Steel Pulse at La Zona Rosa on Saturday, Deer Tick at Antone’s on Sunday, and The Fray at Stubbs on Sunday.
Compiled by Diego Menchaca for Mission Mortgage, April 27, 2012
For those seeking more options for things to do in Austin, we recommend the following websites:
www.do512.com - By far the easiest to navigate and search and they give away plenty of tickets to shows every week.
www.c3concerts.com/ - Another easy-to-use site provided by the same folks that produce the ACL Music Festival every year.
www.austinchronicle.com – Less user-friendly, but a wide variety of events, activities, and stories about the Austin music scene.
www.austin360.com – Provided by the Austin American-Statesman newspaper. Again, not the most user-friendly, but filled with great ideas every week.
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