Real Estate Investing

Archive for the ‘texas real estate’ Category

Want to Live in the Best Place?

austintexas.jpgU.S. News and World Report just released it’s 2009 list of “10 Best Places to Live” … a list most communities would love to make!  The magazine explains this year the list was created based on thrift,

We looked for affordable communities that have strong economies and plenty of fun things to do. The cities we selected are as distinct as America itself—ranging from a quaint suburb to a live-music mecca.

Did your town make the best dressed best place list? If you live in Albuquerque, New Mexico, Auburn, Alabama, or Austin, Texas then yes!  If you live in Atlanta, Georgia or Anchorage, Alaska, then no. People from Boise, Idaho, Durham, North Carolina, and La Crosse, Wisconsin have much to celebrate!  But I’m sorry to see my own Nashville, Tennessee didn’t make the cut.  The magazine also loves Loveland, Colorado, San Luis Obispo, California, St. Augustine, Florida, and Upper St. Clair, Pennsylvania.

I’ve actually visited Austin several years ago and fell in love with the entire area.  I’d move there in a heart-beat if given the opportunity!  Also, New Mexico and Wisconsin are two of my favorite states so I was very pleased to see them make the list.

Photo by Shane Pope via Flickr Creative Commons.

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Real Estate News: Today’s Highlights

California is getting closer to having one state-wide MLS system, according to the San Francisco Chronicle.  Expected to be available in 2009, 66 local REALTOR® associations and three regional MLS groups — representing 60 percent of the market in California — have signed nonbinding letters of intent to participate in CALMLS so far.  Read more from Realtor.org.  In my own MLS area, we’ve faced challenges simply to get the various associations to embrace on preferred lock box … this will be very interesting to see how one MLS works itself out.

Donald Trump is lending a helping hand to Ed McMahon who has been facing foreclosure of his personal home following health issues.  He is buying the home so he can lease back to McMahon.  Says Trump, “When I was at the Wharton School of Business I’d watch him every night,” the mega-developer said. “How could this happen?”

Austin, Texas is set to recover from the real estate slump faster than the rest of the U.S., according to the Austin Business Journal

In the coming year Austin will outperform the rest of the country in job growth and in the health of its housing market, according to Mark Dotzour, chief economist at Texas A&M University’s Real Estate Center.

empty_lot_front.jpgFinally, ghost towns are popping up all over the country due to halts in new construction developments.  According to MSNBC,

The Colonial-style brick home had four bedrooms, three-and-a-half bathrooms, and designer touches and offered everything they expected in a town known for great public schools and homes fit for Ford execs. 

Everything, that is, except neighbors.

When the MacDonalds arrived, there were fewer than 15 homes in Kirkway Estates, where 179 were planned. Their home was the only one built thus far on a cul-de-sac with six lots.

I’ve seen many developments that look like this.  There’s a monster-sized subdivision near where I live and I’ve seen that construction has come to a skidding stop.  I have to wonder what all those workers are now doing to earn a living.

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Best Places To Invest In Real Estate Now

Real estate investing is a hot topic right now. Interest rates are low, prices are low — what’s not to love, right? If you’re looking to seize the day, keep one thing in mind. Go west, young man … or east, depending on where you sit as you read this. The Lonestar State is the place to be and other western states like Utah, Colorado and New Mexico are also getting some nods. It’s a veritable gold rush for the 21st Century.

Of course, the list of where to invest in real estate varies depending on which you look at. We looked at the Top 10 list compiled by real estate valuation company Fiserv Lending Solutions, the Top 10 list compiled by investment company HomeVestors, and the Top 7 compiled by HousingPredictor.com. One thing all three of these lists have in common is that Texas cities appear in the top three listings. Some say El Paso and McAllen, while others say Dallas, Houston or Austin. Regardless, it’s clear that Texas is the place to be. San Antonio and Ft. Worth are even mentioned in lower spots on some of the lists.

Actually, plenty of developers, second home buyers, snowbirds and vacationers truly are turning their sights from Florida to Texas. This has been a known fact for a while, but home prices are rising fast so capitalize before it’s too late.

Interestingly, Syracuse and Rochester in New York state made one list, with an expected 3.60% and 4.20% price appreciation this year. Asheville, North Carolina made another list because it has seen steadily increasing prices with no signs of slowing down and pro golfer Tiger Woods recently announced his plans to build a golf course megalopolis there. I am an avid golfer, but given the choice, I’d still have to head southwest, where the prices are lower and appreciation forecasts are greater. Grab your gun, boots and spurs — Lonestar State, here we come.

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