A changing economic landscape is updating and shaping forecasts for residential and commercial real estate industry nationwide — including real estate within Temple.
Realtor.com’s 2022 Housing Market Forecast Midyear Update in June of 2022 shared a new prediction for inventory that will grow double-digits over 2021, offering buyers a better-than-expected chance to find a home in the months ahead. Among its projections: sales that will hit the second-highest level in 15 years, trailing only the 2021 pace.
“The supply chain shortages are dragging out the building process, (while) all of these people (are) coming into the area needing a place to live, work and play,” said Damon Gottschalk, president of the Temple-Belton Board of REALTORS. “This puts additional demands on all parts of our local economy. Commercial growth is strong.”
Still, Gottschalk warns against rushing into buying your first home. “The first step is to get with a well-known mortgage company,” he said. “They will tell you exactly what you need to do to better your position for buying a house — for example, save more cash, pay off certain debt and (repair your) credit.”
As to making a move specific to the Temple region, Gottschalk acknowledged vying for a home is a competitive process. “People are flocking here for a better way of life, with a lower cost of living,” he said. “Research projections show steady growth for the next 10 years.”
Danielle Hale, Chief Economist for Realtor.com, shared that preparation will be key throughout 2022, as at the time of its June 2022 midyear report, it continues to be a seller’s market and asking prices remain high.
“For buyers who choose to wait until later in the year, take that time to assess your budget so you’re set up with a strong financial footing whenever you’re ready to move forward,” she said.
The Rotary Club of Temple, the Rotary Club of Temple-South, Temple College, and the Temple Chamber of Commerce recently celebrated the completion of the first cohort of Launch Temple. 13 aspiring entrepreneurs graduated from the 10-week program on June 7, 2022.
Launch Temple is part of the LaunchMyCity family of programs, modeled after LaunchDETROIT (Michigan) and LaunchRALEIGH (North Carolina).
LaunchMyCity is a program of Rotary International, the community service and global humanitarian organization located in over 200 countries. The program strives to develop successful entrepreneurs by expanding access to comprehensive business training and financial and business resources.
Launch Temple is a collaborative effort between the two Temple Rotary Clubs, Temple College and the Temple Chamber of Commerce, which provides training, mentorship, and networking to cultivate local entrepreneurs.
The program is offered at no cost to qualified applicants and held at Temple College. The curriculum is through LaunchMyCity, with Temple College staff, Rotary Members, and business community volunteers providing instruction.
The program has eight training sessions with topics including Business Models, Market Research, Funding, Legal Strategy, Marketing and Branding, and more. The participants are also matched with a Mentor to help them navigate the journey of an entrepreneur.
Some of the program participants did so to strengthen an existing business. Others participated to gain a great foundation to start their business on the right foot.
The Temple Chamber of Commerce, through a grant, can provide a one-year Chamber membership to the Launch Temple participants.
Congratulation to the first cohort of Launch Temple graduates, and welcome to the Temple Chamber of Commerce!
The 13 Launch Temple Graduates are:
The Temple Chamber of Commerce is excited to host the second annual Summer Sizzle Seltzer in the Santa Fe Plaza Friday, August 5, 2022. This free, family-friendly community event coincides with First Friday in Downtown Temple. It is an evening of live music, food trucks, an outdoor market, and fun for the entire family from 6:00 - 9:30 pm.
This year’s event is being “taken over” by one of Temple’s newest businesses, Polar Texas Bottling. They are bringing the “Chill” to Summer Sizzle Seltzer as they introduce their New England roots to Central Texas.
Founded in Worcester, Massachusetts, in 1882 by a savvy bartender, Denis Crowley recognized an opportunity in carbonation as Prohibition began to rumble in New England. He crafted what he considered the best-tasting bubble recipe and began selling sparkling beverages from a horse-drawn carriage.
Today, Polar Beverages remains owned and operated by the Crowley family’s fourth and fifth generations, under the leadership of President and CEO Ralph Crowley Jr. They are the largest independent beverage company in the United States. They are purveyors of premium-quality sparkling beverages, including Polar® Seltzer, heritage sodas, and Polar Orange Dry®.
Polar Beverages invites you to sip into their world on August 5, 2022.
Visit templechamber.com/summerseltzer for more information.