WE LOVE LEARNING AND GROWING
By: Capstone Team - 6/25/18
We regularly provide candid, constructive performance feedback. At a minimum, your contributions and performance will be reviewed and discussed with you once per quarter.
Try New Things
We encourage all team members to try new things and bring fresh ideas to our attention. We would never claim to have all the answers. Please challenge us...and allow our company to grow and flourish.
When you try new things, you will make mistakes. They happen. But, it is critical that we learn from our mistakes and not repeat them.
We offer monthly opportunities for education, training and personal growth. We encourage all team members to seek out additional educational opportunities. If you see something you like, go for it! We are happy to support you, and will consider tuition reimbursement for those seeking additional higher education.
Interview with Pearlstone Partners CEO and Principal Robert Lee
By: Capstone Team - 6/20/18
In this week’s blog we had the pleasure of interviewing a great friend of Capstone Title, Pearlstone Partners CEO and Principal Robert Lee.
Robert Lee is an entrepreneur and CEO with a proven track record of successful real estate projects in the Central Austin area. With more than 35 years of commercial real estate experience, Robert has been responsible for over $500 million in transactions overseeing the development, construction, and sale of product types ranging from single-family, multi-family, condo, office, and light industrial. An active member of both the Austin Chamber of Commerce and the Greater Austin Asian Chamber of Commerce, Robert is heavily involved in civic and philanthropic causes that better his community. Recently, Robert’s business expanded to markets outside the Austin area and he looks forward to conquering future challenges as his business continues to grow.
We are grateful Robert took a moment to share the latest regarding Pearlstone Partners and some insight to their company!
1. Tell us about Pearlstone Partners and what projects you are currently working on.
Pearlstone Partners is a full-service real estate development firm that specializes in infill condominium projects in some of Austin's most desirable neighborhoods. We've been responsible for more than $300 million in locally developed real estate and manage every stage of the property development life cycle, from initial building concepts to sales and investments strategies for the final product.
Currently, we're in the construction phase for our EastGate condominium project in East Austin. EastGate embodies our philosophy of providing a quality product in a desirable area for a price that allows more people to enjoy living in Austin's established and burgeoning central neighborhoods. The convenience of the lock and leave lifestyle and attainable pricing make condominiums a great alternative to single-family homes for many Austinites.
EastGate will be completed by summer of 2019, but we also have several projects set up for delivery in 2020 that we're excited about. We have several mid-rise condominiums being developed in prime locations off of Webberville Road, Govalle, and 25th & Lamar and 48 East will be a high-rise residential tower constructed in the popular Rainey Street district. We're also currently in the process of filling our pipeline for 2021.
2. What commercial real estate trends are you currently seeing in Austin?
Right now the Austin real estate market is thriving, but affordability continues to be a concern. There is a population of interested home buyers that aren't being served by the market because of the high-cost of living in Austin and we are continually trying to find ways to provide a product that better serves them. Overall, there seems to be a decreasing interest in multi-family while office and commercial property interest remains high.
3. What role does community service play in your company?
I believe it's important to give back to the community that has helped to push us forward. Especially as an Asian owned company, giving back to the Asian community at large is very important. I have a family history of service. My grandfather was the secretary general of Taiwan and had a history of impacting his community at a national level and I want to make at least a minor impact in Austin where I've lived for the last 40-50 years. We try to listen to the community and participate in the programs and initiatives put forth by the city to try to better it.
4. If you could give one piece of advice to someone looking to invest or purchase a commercial property in Austin, what would it be?
Find someone competent and educated for representation. A lot of people like to think they can go out and do things on their own, but you have to think about it like you're participating in legal proceedings. Not many people would want to represent themselves in a legal case, you'd want to get proper legal representation and an expert in their field to guide you through the process and fight for your best interests. It's the same with real estate - there is no substitute for an experienced team that are there to help you through the process and ultimately reach your financial goals.
5. Where do you see Austin’s commercial development heading in the next five years?
Commercial development is going to increase and become more dense. As more people move here and space is limited, density will be the key to increasing housing availability and improving affordability.
6. What empowered you to develop some of Austin’s most impressive projects?
It all starts with one thing: seeing a need and filling that need. We saw a need for attainable housing in Austin, especially in the center of the city. We wanted to try to open that market up to more people.
7. What is your favorite summer activity in Austin?
Work, because real estate is like the temperature of Texas. When the temperature rises, so does the market.
WE LOVE SERVING OTHERS
By: Capstone Team - 6/18/18
We are a professional services company. We are here to serve our clients and each other. Lead with a servant’s heart and always ask first, “How can I help you?”
We are passionate about supporting and giving back to our community. We regularly volunteer our time to worthwhile non-profit organizations in our community. We encourage you to bring suggestions on where the company can focus its giving and to personally be involved in the communities in which you live.
Why you should get involved with community service in Austin
By: Leslie Mullen Odom - 6/13/18
Oh Austin! We love your rolling hills and beautiful lakes and all you have to offer but most importantly we love your heart. “Keep Austin Weird” is not just our slogan it’s our mantra that we Austinintes take to heart. We like to hold our city to a higher standard and because of this a rich culture of philanthropic giving has taken root.
Austin has more nonprofits per capita than any other city in Texas. We love to give and it shows. Take a look next time you’re at the dog park and I bet half of those dogs are rescues from Austin Pets Alive. Austin is celebrating its fifth year as the country’s largest no kill city.
With so many choices it may take a while to find your perfect fit but a world full of like minded and kind Austinites are waiting to show you the ropes. Here are a few favorite local charities that always need a helping hand.
Dell Children’s Trust
Joining the Dell Children’s Trust gives you the opportunity of a lifetime! You’ll make new friends, learn the latest in pediatric healthcare and have the ability to really make a difference in our community. dellchildrens.net/support-dell-childrens/get-involved/support-groups/dell-childrens-trust/
Partnerships for Children
As a nonprofit in Central Texas, Partnerships for Children leads a collection of programs that offer resources, support and comfort for foster children and families in our community. Our accessibility to CPS, efficient practices and ability to connect with kids at all stages in their lives allows us to better serve those who need us most by providing real and impactful solutions. Learn how you can get involved here: partnershipsforchildren.org
Provides personalized birthday celebrations to children in foster care, creating a moment of connection between the child and a loving adult. We believe that something as simple as a birthday party has the power to provide normalcy, joy and hope in a foster child’s life. Learn more about them here: popupbirthday.org
Austin Pets Alive!
Austin Pets Alive! is a nonprofit organization dedicated to stopping the killing of Austin’s adoptable dogs and cats. Led by Emancipet founder, Dr. Ellen Jefferson, they want to see the end of the killing of homeless pets in Austin, Central Texas, and the entire country. APA! is leading the no-kill movement in Austin by energizing the public and maintaining comprehensive, innovative, life-saving programs designed to save the animals most likely to be euthanized in shelters. Check out this great organization: www.austinpetsalive.org
Mobile Loaves and Fishes
Mobile Loaves and Fishes provides food and clothing, cultivate community and promote dignity to our homeless brothers and sisters in need. Check out this great organization here: mlf.org
Community First! Village
Community First! Village is a 27-acre master planned community that provides affordable, permanent housing and a supportive community for the disabled, chronically homeless in Central Texas Learn more about them here: mlf.org/community-first
WE LOVE OUR TEAM MEMBERS AND CLIENTS
By: Capstone Team - 6/11/18
We embrace diversity and encourage anyone and everyone to interview to be a part of our team.
We treat all team members with dignity and respect. Treat your fellow team members as you would your closest family and friends. We do not participate in politics or gossip. We care enough about each other to have honest, respectful conversations.
You are an adult. We are a professional services company. Use your best judgment in all situations, keeping in mind the best interest of our company and clients.
Unlimited Paid Time Off
We advocate for a healthy work-life balance. Get your work done. And spend time away from work to re-charge. Take as much time as you deem necessary to create balance in your life, keeping in mind your commitment to the rest of the team.
Wear clothes. Please. What exactly you wear is up to you. But please do keep in mind we are a professional services company. Dress appropriately.
We provide health and dental insurance coverage for all team members. Spouse and dependent coverage is available at your cost. We offer an optional 401(k) retirement plan and match 15% of 100% of your yearly contributions, vesting immediately.
We share our success with all of our team members. When the company makes a profit, you make a profit.
Communication is vitally important in our business. It is critical that we communicate clearly and consistently both internally and externally. And use your manners. We are a polite, kind, caring company.
We LOVE being open and honest!
By: Capstone Team - 6/4/18
We are an open-book company. As much as we can legally share, we will. Just ask.
Open Door Policy
Leadership is always available for questions, concerns, suggestions. We encourage and periodically directly elicit thoughtful, constructive feedback.
We invite all of our team members to actively recruit other wonderful, high character, driven individuals to join our team. If we hire a new team member you have actively recruited, we will pay you a recruiting bonus.
We are a collaborative company. We encourage everyone to ask for help. Be prepared to work with, and be willing and available to help, your fellow team members.
Commercial Real Estate Trends in ATX
By: Richard Ethridge - 4/18/18
The commercial and industrial real estate market in the Austin area experienced record demand over the last few years. The boom has triggered massive development and the area remains one of the most competitive business markets in the country.
Austin, Texas continues to attract the attention of many demographics. Not only from other parts of Texas, but from all over the world people are moving to our beloved area. Austin is known for its cool, trendy vibe as well as being a tech savvy region. This diversity is a reason the area has remained largely insulated from the effects of the global financial crisis and why the economic forecast remains confident.
Many economists and investors continue to have Austin commercial properties atop their list due to the growth in the professional and business sectors. In-demand jobs and a highly skilled labor force boost the diversity of the Austin economy.
With all this HQ2 conversation heating up, it seems Amazon isn't the only company considering a move to Austin. A new study based on Bureau of Labor statistics and the Yardi matrix has determined that Austin is one of the top markets for commercial office real estate investors in 2018.
Austin continues to appeal to millennials and their quest for the “live, work, play” locations and the co-working stations creates a larger number of available subleases. Even though some of this availability is caused by relocating or downsizing, it is still a strong desire for the younger members of Austin’s population growth.
The retail sector of Austin continued to grow in 2017 and there is no sign of that growth stopping in 2018. Restaurants, retail and major shopping centers continue to open at a fascinating rate. Of course, this is great for the consumer and Austin’s fun and trendy lifestyle.
As the prices for a single-family home continues to rise and the population does as well, there is a strong demand for multi-family housing in Austin. The result is interesting to investors due to the positive employment outlook and favorable demographic trends. Accordingly, we should expect low vacancy rates to remain the norm.
If we study the employment numbers, vacancy rates, lease rates, office construction pipeline and a 2.7 percent unemployment rate, Austin ranks among the top cities in the U.S. for job seekers. As a result, the city maintained a low 11-15 percent office vacancy rate throughout 2017.
Austin’s future construction in 2018 is forecasted at 1.8 million square feet, down slightly from the 2.5 million in 2017, it still represents a three percent increase in available inventory, making it a solid place to invest.
As we continue to see developers’ favorite bird, the construction crane, build downtown high-rises and suburban office parks, recent studies noted that smaller co-working spaces are rapidly expanding. This provides companies more flexibility for their employees, which in turn is impacting construction trends.
So, who is using all that space? The overwhelming majority of Austin office space is used by the technology sector, about 34 percent.
According to PWC’s 39th annual Emerging Trends in Real Estate Report, Austin ranked second in the country’s real estate markets, after Seattle. Austin and Dallas both made the Top 10. The report also predicts slower but more sustainable growth for the U.S. real estate market.
Austin, Texas continues to be an active market. Vacancies increased slightly in late 2017 commercial real estate arena, but the long-term outlook for the industrial market is good. Healthy economic conditions, steady business expansion, and popularity make Austin a top market for investors. The city is in high demand for all kinds of commercial spaces: retail, warehouse, office and flex space.
Renting VS Buying & The Value in Each
By: Clari McGougan - 4/11/18
The rent versus buy decision was pretty-straight forward until 2007 when the housing bubble that had been slightly growing came to a screeching halt. Many mortgages went under and a foreclosure crisis ensued. Meanwhile, the renters of the world were doing relatively well.
Today there is no clear answer whether to rent or buy. In certain cities and for certain individuals buying a home may make more sense, while for others renting a home may be the better choice. It all depends on one’s circumstances, job stability, love for the area and whether they want to spend the rest of their lives there. There are significant advantages to homeownership, one being the mortgage interest deduction, which is a tax benefit that allows you to deduct mortgage interest payment from your taxable income. The mortgage payment goes towards increasing the stake in one’s equity.
Rental payments in contrast have no such advantages. Rental payment goes entirely to your landlord, and tends to increase over time. The costs of renting can be much higher than buying. Rents can change drastically over a few years, and there’s the ever-looming threat of eviction if a rent increase is more than you can afford. As a homeowner many will not face spikes in their payment (adjustable-rate mortgages are one exception), however most will not have to worry about being tossed out on street if the payment becomes too expensive.
Then there’s the question of maintenance: leaky pipes, painting, cleaning gutters, roof & HVAC and all the costs of owning a home. This can be a personal preference. Many homeowners take pride in working on their homes and by the same token many renters complain of unresponsive landlords who refuse to deal with certain issues.
Answering the question should I rent or buy requires some serious soul-searching. In the end the rent versus buy decision comes down to one’s preferences and plans. If you know exactly how long you want to stay in your home and where you want to live, and you have money saved up, the decision could be as easy as calculating which option will cost you less. If your future is unclear, you may have more to consider.
Our team. Our values. Why love drives our company culture.
By: Capstone CEO/President Brad Compere - 4/4/18
“A company is stronger if it is bound by love rather than by fear.” – Herb Kelleher, Southwest Airlines
This quote is stamped on the front of the Capstone Compendium – our operational Bible if you will. When we first began contemplating starting a title company, my partners and I agreed on many things. The most important was people and more specifically loving people. Being successful in business and life boils down to one simple concept: love.
We love to spend time together. Once a month we have an off-site team building opportunity. We may have dinner, drinks, go out on the lake or bowling. Whatever we do, we’re doing it together as a team. Once a quarter we take our team building to the community with a group volunteer opportunity with a local non-profit organization.
Love is such an ephemeral word. It brings to mind the romantic love Shakespeare wrote about in his timeless tragedy, Romeo and Juliet. But the concept as we use it is much broader. Love is care, kindness, respect, humility, honesty, integrity, service and community. It is approaching every situation, every decision, every relationship with “How can I help? How can I be of service?”
At Capstone Title we believe that “we” is the key. The key to a successful organization starts internally by taking care of each other. My job as the CEO is to make sure our team feels loved and strengthened by the collective goal to be great and to make a difference in our community. We are good at what we do but are mediocre compared to how great we want to become. Because we are strong internally, our work product reflects that inner greatness and we are able to provide an incredible level of service to our clients.
Success to us means truly caring about people, asking about their families, helping them set and achieve both professional and personal goals and truly listening. It means being kind in every action, thinking that you have a person with cares, concerns, troubles on the other end of every phone call, every email and every interaction. It means treating everyone with respect and using your manners (as each of other mothers taught us). It means being humble…taking personal blame and sharing success with the group. It means telling the truth, owning up to mistakes, no matter how difficult that might be. It means always doing the right thing in any given situation, setting aside pride and ego. It means offering help to anyone and everyone….leading with a servant’s heart. It means giving back to your community, taking the time to help those less fortunate than we are and being grateful for the opportunity to make a difference.
The real estate industry can feel very sterile and transactional. Our amazing team strives daily to make sure that the human piece of each real estate deal is not lost. Put simply, we love.