Houston Real Estate Could Attract Out-of-State Buyers
Posted by 2M Realty on Thursday, January 14th, 2010 at 3:27pm.share the Houston Real Estate Blog!
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According to the Houston Chronicle’s real estate blog, more people moved to Texas last year than anywhere else in the U.S. It was the fifth consecutive year in which Texas secured the top spot in this category, according to a study performed by Allied Van Lines (www.chron.com).
This trend certainly bodes well for the Houston real estate market. The study reported 2,000 net relocations to Texas in 2009 (www.chron.com).
Like most cities and towns across the country, Houston property values dropped significantly during the housing crisis. When the bubble eventually popped, Houston real estate suffered along with other Texas metro areas.
And while Houston home sales have increased in recent months, the housing crisis cannot be considered recent history just yet. Sure, November 2009 marked the third straight month in which sales volume and pricing managed positive results according to the Houston Association of Realtors (www.har.com).
However, with interest rates poised to jump at some point in the not-too-distant future, and the first-time homebuyer federal tax credit set to expire on April 30, 2010, the Houston real estate industry is certainly not out of the woods.
It is clear, per the aforementioned statistics, that individuals from out-of-state are looking to make their homes in Texas. How many of these transplants actually purchase property in Texas – as opposed to rent – is unknown. Houston, though, is as promising a city as any the Lone Star State has to offer where real estate is concerned.
Houston offers a variety of trendy urban areas and sprawling suburban properties that can surpass all expectations. Houston also boasts the second-lowest cost of living among major American cities (www.houston.com) and was recently named the top U.S. city in which to live and work by Kiplinger’s Personal Finance.
Not only does Houston claim 16 companies on the Fortune 100 Fastest Growing Companies list, but the city also features enough nightlife, dining, entertainment and cultural options to suit even the most demanding critic.
Houston is a young, thriving metropolis that presents abundant opportunity. It is no wonder that so many are choosing to migrate to Texas.
The December 2009 Houston real estate numbers were not available at publication. But even if the positive trend does not continue over the near term, Space City has proven itself to be quite worthy as a relocation destination for out-of-state buyers.
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2M Realty is a unique brokerage firm providing agents both traditional and Internet services throughout the Greater Houston real estate market. With its' Treehouse virtual platform, participating agents experience the freedom of working from home and get to retain 100% of the commission. This platform is an end-to-end online solution giving agents personalized websites, lead management programs, marketing collateral tools, form libraries, transaction management, electronic signature functionality and more.
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Share2 Responses to "Houston Real Estate Could Attract Out-of-State Buyers"
Even with the decline in prices, Houston is still a very hot market in comparison to the rest of the county. We are seeing a lot people from California and New York buying investment properties here in Houston because the market value is not declining as fast and in some parts the value is still on the rise.
Posted on Tuesday, February 1st, 2011 at 11:51 AM.
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Posted on Friday, January 15th, 2010 at 1:37 AM.