Unique Original Articles » Keeping an eye on the Texas property values

Depending on which side of the fence you stand on Real Estate in Texas is either an art or a science. Those who feel it is the former say that in order to succeed in real estate (particularly in the ultra competitive Texas properties market) you need to have a certain amount of talent which helps you spot good deals, sense the right prospect and quickly close sales. Those who believe in the latter cite the requirement to be kept informed of developments on a global not just local scale and be aware of movement across the entire real estate sector. The key to success, they say, is information.

Whichever way you cut it, it has to be argued that information is always a requirement for making sound real estate decisions, even if you are relying on talent and gut instinct to reach a conclusion on a particular deal.

Valuable information on the Texas Real Estate market
Texas Real Estate magazine is at the very heart of Texas Real Estate and our print titles and our website have become the focal research point for Texas Realtors as well as those interested in investing in Texas property.

We keep a close eye on the reports released by the Real Estate Center at Texas A&M University where researchers file monthly reports of figures that affect Real Estate trading across Texas, the continental USA and, also the rest of the real estate market, globally.

The US economy and real estate in Texas
To a certain degree the Texas Real Estate scene is linked to the US economy. Nationally the United States is undergoing an economic downturn which is linked to a reduction in ?easy? credit, an increase in foreclosures, and an unwillingness of investors to jump into the real estate market in fear of losing money as the bubble bursts and property prices drop.

All this may sound like really bad news which is why it is important to study the figures.

Nationally housing starts are down by over a fifth, 27.7% to be precise and new home sales are down 20.5% against the same time last year.? The new home inventory has shown an increase from 6.2 months (last year) to 6.5 months this year and existing home sales are down by 7.6% with an 8.3 month inventory.

Against this backdrop the Texas real estate market is booming. Real estate inventory in Texas is 5.5 months and has remained steady against last year. Home sales are down by just 1%. Residential permits are down by 27.3% (which may affect new housing later in the year or next year). The demand in Texas properties and Texas land has meant that Texas real estate prices are rising faster than the rest of the USA with Texas showing a 6.9% increases as opposed to 4.3% price increase in the U.S. with the average Texas home being $193,700 as opposed to $269,500 in the rest of the country.

Good news for investors and Texas land and property buyers
For investors and those interested in buying Texas land or a Texas property the news is excellent. Real Estate in Texas is not experiencing, yet, any of the downturn felt in the rest of the U.S. and the lower cost of the average Texas family home and the higher level of appreciation make the buying of a Texas property very attractive to investors as well as to those looking for a recreational property, a second home or even a family home with a view to re-location.

While the fiscal pinch felt in other parts of the country has slowed down the amount of money coming into Texas as out-of-State investors have less money to spend, the lower prices and higher returns have compensated somewhat and contributed to the picture remaining largely unchanged.

Texas at the heart of American Real Estate market
The news, so far, indicates that the Lone Star State is the champion performer in terms of Real Estate in the U.S. with interest in Texas land and Texas properties looking to increase rather than slow down.

Out-of-State investors are still predominantly American as the interest rates in Europe are lower and make the purchase of foreign real estate, at the moment, unattractive. With a considerable amount of equity still waiting in the sidelines eyes are now on the economy. A slowdown or a reversal in the downturn will signal a boom in Texas real estate as the smart money rushed in to snap real bargains.

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