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Old 06-20-2010, 02:54 PM
 
1,632 posts, read 3,306,546 times
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Quote:
Originally Posted by texas7 View Post
It's more than speculation. My cousin (a 30-yr employee) has been told by his manager to anticipate moving in 3-4 years and they already have a group in place in Houston to manage the move. There is a moratorium on any building renovations, office remodels, etc. No more money is being pumped into the building other than what is absolutely necessary for day-to-day operations.
Perhaps more than speculation, but the fact is, they are in the middle of a real estate study. The company wouldn't make a decision before having finished the study -- that isn't how they operate. They obviously see it as a very realistic option, or they wouldn't have begun the study in the first place, but until it's over and the board meets to talk about it, take it all in with a grain of salt.
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Old 06-20-2010, 03:47 PM
 
Location: Houston, TX
8,891 posts, read 19,875,808 times
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Quote:
Originally Posted by Texascrude View Post
Perhaps more than speculation, but the fact is, they are in the middle of a real estate study. The company wouldn't make a decision before having finished the study -- that isn't how they operate. They obviously see it as a very realistic option, or they wouldn't have begun the study in the first place, but until it's over and the board meets to talk about it, take it all in with a grain of salt.
Do you work there?
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Old 06-20-2010, 04:21 PM
 
1,632 posts, read 3,306,546 times
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Quote:
Originally Posted by texas7 View Post
Do you work there?
I do, but sadly, Rex Tillerson doesn't give me very many updates on the company's strategic thinking .

Seriously though, I don't have any knowledge other than what's been made public, and would suspect that outside of the C-level executives most of the 80,000 employees are in the same boat.

I found this article did a pretty good job of summarizing what I have heard though.

http://www.hcnonline.com/articles/20...xxon021710.txt

It basically says that they started a big study that will finish in 2011. I agree with previous posts that it would make plenty of sense for them to consolidate here, and it's definitely possible that that's where they are leaning. I'm just pointing out that they have made this study public knowledge and it is unlikely that they would finalize their plans before they have finished evaluating all the options. I would LOVE to live in the Woodlands though, and only have a 10 minute commute to work!
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Old 06-20-2010, 05:42 PM
 
1,042 posts, read 3,248,283 times
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Quote:
Originally Posted by Texascrude View Post
That's not an accurate statement. Like a previous poster mentioned, the company is in the middle of a complete evaluation of their real estate holdings / needs. If you know anything about Exxon as a company, you should know that they are very process oriented and take their time to make decisions -- especially something as drastic as uprooting thousands of employees at their downstream headquarters, and their company headquarters, and moving them across the country/state.

Will it happen? NOBODY KNOWS! It sure sounds like a realistic possibility, but until they've researched it, finished the evaluation, looked at all the options, etc, it's just speculation.
Okay, I guess that the people we know who are working for this company and have had this situation happen to them is misinformed. Some of the big wigs ARE looking at purchasing homes up there and have found homes prices to have risen since it was announced that they were debating this situation. My inside source was going to be moved to Fairfax but again the company opted to not move them because they will be shutting down that office and moving them out here. Now wether that will be the Woodlands area or not who knows. It is under way though even if it will take a process to get it done. They are a company who likes to only tell you things on a Need To Know basis and as of right now unless you know certain people then you do not need to know until it is final.
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Old 06-20-2010, 05:52 PM
 
1,042 posts, read 3,248,283 times
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Quote:
Originally Posted by Texascrude View Post
I do, but sadly, Rex Tillerson doesn't give me very many updates on the company's strategic thinking .

Seriously though, I don't have any knowledge other than what's been made public, and would suspect that outside of the C-level executives most of the 80,000 employees are in the same boat.

I found this article did a pretty good job of summarizing what I have heard though.

http://www.hcnonline.com/articles/20...xxon021710.txt

It basically says that they started a big study that will finish in 2011. I agree with previous posts that it would make plenty of sense for them to consolidate here, and it's definitely possible that that's where they are leaning.I'm just pointing out that they have made this study public knowledge and it is unlikely that they would finalize their plans before they have finished evaluating all the options. I would LOVE to live in the Woodlands though, and only have a 10 minute commute to work!
It is at least a couple years out but as of right now the plans are being set in motion. It takes some time to undergo such a move. In the meantime they may just decide to opt out. And yes a 10 minute commute to work would be nice. So when and IF this does occur home prices will not only rise in The Woodlands area but I also feel that they will rise between The Woodlands and the Atascocita area. Just my opinion though.
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Old 06-20-2010, 06:01 PM
 
Location: Charleston Sc and Western NC
9,273 posts, read 26,373,824 times
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Quote:
Originally Posted by Txgal33 View Post
It is at least a couple years out but as of right now the plans are being set in motion. It takes some time to undergo such a move. In the meantime they may just decide to opt out. And yes a 10 minute commute to work would be nice. So when and IF this does occur home prices will not only rise in The Woodlands area but I also feel that they will rise between The Woodlands and the Atascocita area. Just my opinion though.

Inventory has never been under a demand stress situtation up there. They keep building more, and turnover is about every 3 years.It's very much a transfer area. Growth has occured, but it's been a gradual process over 40 years,and the development company keeps on throwing up houses.. Any influx of population will be anticipated by the development company and they will build another village. When I went to rent in '05, I literally had 30+ empty houses to look at in my range, 90% of which were also for sale.

To have price inflation of any significance, turnover has to be low, no more room to build out available, and close to one house for each buyer in the market,sales within a week due to demand. Currently it appears to be 10 houses on the market per one buyer, houses don't seem to move that quickly over 500k. For the sub-350 price range it appears better odds for the Woodlands. But they don't seem to like building those.

4,000 from Va is a good influx, but there's a ton of inventory in Spring/Woodlands/Montgmery/Kingwood/Augusta Pines/Magnolia/ etc...and aren't they building some other huge MPC north of the Woodlands?

As to the 10 minute commute: It can take 30 minutes to get from the flyover to the CURRENT back of the woodlands

Not saying it won't happen, but some crazy price jump/appreciation is unlikely to happen. JMHO though

Last edited by EasilyAmused; 06-20-2010 at 06:36 PM..
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Old 06-20-2010, 07:23 PM
 
17 posts, read 36,571 times
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People in Fairfax pay $400-800,000 for a house. Anything in the 200-500,000 range is a bargin. I've seen plenty of $175,000 houses in Houston that blow away our $500,000 house in NVA. It's at least a few years away. Should know within the next year.
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Old 06-20-2010, 08:44 PM
 
1,042 posts, read 3,248,283 times
Reputation: 332
Quote:
Originally Posted by EasilyAmused View Post
Inventory has never been under a demand stress situtation up there. They keep building more, and turnover is about every 3 years.It's very much a transfer area. Growth has occured, but it's been a gradual process over 40 years,and the development company keeps on throwing up houses.. Any influx of population will be anticipated by the development company and they will build another village. When I went to rent in '05, I literally had 30+ empty houses to look at in my range, 90% of which were also for sale.

To have price inflation of any significance, turnover has to be low, no more room to build out available, and close to one house for each buyer in the market,sales within a week due to demand. Currently it appears to be 10 houses on the market per one buyer, houses don't seem to move that quickly over 500k. For the sub-350 price range it appears better odds for the Woodlands. But they don't seem to like building those.

4,000 from Va is a good influx, but there's a ton of inventory in Spring/Woodlands/Montgmery/Kingwood/Augusta Pines/Magnolia/ etc...and aren't they building some other huge MPC north of the Woodlands?

As to the 10 minute commute: It can take 30 minutes to get from the flyover to the CURRENT back of the woodlands

Not saying it won't happen, but some crazy price jump/appreciation is unlikely to happen. JMHO though
Not sure which hood they were in but hubby was talking to a friend who was looking up there due to the possible move up there. He went back a few months later after all the talk started and the house he was looking at was $40,000 more base than what he originally saw. Could have just been a builder jacking with prices but who knows.
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Old 06-21-2010, 12:42 AM
 
Location: ATX-HOU
10,216 posts, read 8,072,360 times
Reputation: 2037
This location actually does make sense for the company. It is close to the airport, in a region where many of its operations are (North Houston metro), allows them to build a "customized" campus office on a large swath of land, and it is conveniently located where the future Grand Parkway will be built (I believe).
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Old 06-21-2010, 03:16 AM
 
Location: Austin, TX/Chicago, IL/Houston, TX/Washington, DC
10,138 posts, read 15,939,206 times
Reputation: 4047
Quote:
Originally Posted by RenaudFR View Post
And Woodlands = in Houston (city) ? Or in the metro area ?
Northern suburb of Houston. Near the Airport, and in the metropolitan area.

As for Exxon's relocation. Yeah they are building a new campus in Spring, Texas. It'll be a large facility, and a very nice one at that. It's to expand employment in the future and having the facility to accommodate that.

They are keeping some floors in their downtown office as well.
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