Houston Real Estate Could Attract Out-of-State Buyers
Posted by 2M Realty on Thursday, January 14th, 2010 at 3:27pm.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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Mark W. Martin is President of 2M Realty. He is active in real estate sales and develops land in the Houston real estate market. Areas of current development include the Conroe real estate, New Caney real estate and Porter real estate markets.
2M Realty has simple goals in mind: Simplify the real estate process, reduce stress for Buyers and Sellers, earn client trust, and keep client trust. These simple but lofty goals are backed by over 20-years experience as a Texas real estate broker and Houston Realtor.
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[...]Houston Real Estate Could Attract Out-of-State Buyers[...]
Posted on Friday, January 15th, 2010 at 1:37 AM.