Texas always amazes me. A big state. An independent kind of people. They say it is not a state but a state of mind. We were LAST in getting any kind of home equity loan program and then only getting to borrow on 80% of the equity back in 1999.
This now has Texans having more equity in their homes than all 49 other states COMBINED!! Wow.
What that means for those hunting the 40,000 foreclosures from 2007 in North Texas is that there are some profitable deals to be had out there.
We didn't have the run up in prices like California, Nevada, and Florida over the last few years so we haven't had the downturn either in prices.
What truly amazes my east and west coast friends is the "affordability" here. Yes property taxes are higher due to no state income tax, but what your dollars buy in a house from other areas of the country is amazing. Cash out in Massachusetts or California and buy a CASTLE (literally) in Texas. An it can be a totally NEW property too.
Texas just continues to amaze me. When it comes to real estate, it is truly like living ON ANOTHER PLANET!
Hi Gary - I went through Texas years back. Being from California, the humidity factor was daunting. But it may have been isolated to the places we traveled through. If it weren't for that, I'd probably give Texas a try. A neighbor friend just moved back to Texas and bought a mansion for pennies to what he would have paid here.
You are so right. Texas is almost the best value in the " known Universe " right now. ;0)
Michael: You are right, the humidity varies by area, with coastal and central areas holding in more the moisture. But then they have those break out thunderstorms in the summer afternoons. Other areas are drier. The weather is not for everyone, especially the heat. But then the cold is not for everyone in northern climes like WI and MN either. You have to balance everything out with what you want. Heat and humidity can be handled with pools and air conditioning.
Trey: I am "stunned" by the values I see sometimes. Others just probably wouldn't believe me if I told them.
Debbie: I thought the statistic was stunning as well.
Jill: Yes, Texas is a whole other country. As a Republic, it once was!
Gary...I had a piece of the Texas pie. Lived in Baytown and than bought a home in Houston in 1966. I recently bought a lot on the moon. Maybe I should reinvest in Texas.
Kathleen
Ive been scoping out Real Estate on Seti Alpha 7, great place ya just cant get there from here.
Ive also heard good things about the Pelidies Cluster & Aldebraan. ;)
Gary we are tipping our hat to you for your post we choose to feature on our Top Ten Texas Roundup! Congratulations Liz & Marchel (L & M), Texas Real Estate Group!
Gary - Sorry I'm late getting around to say I tip my hat for such a great post. I agree, we live in such a great state. Of course, I have never lived anywhere else but Texas.
90% of the houses I am inspecting are people moving to Texas. From all the comments above we all know why. Just keep them coming. Of course I don't really like some of the things that are happening because of the growing pains. Who would have ever thought talk of "toll roads" in and around San Antonio. Our sleepy area has awakened.