HI,
Many investment clubs are recommending to invest in TEXAS? I am in a very competitive market here in CA, and we are a successful real estate investment company seeking other avenues. However, most of our competitors are in other states investing, such as TEXAS.
So, how is it there, buyer or seller market, foreclosures or not. etcc…?
Love to here from all of you.
Robin
Prices are down here in Austin. Foreclosures are almost as high as late 80’s and HUD is busy selling again. I believe I saw 147 houses on Foreclosure World yesterday. Time to buy and hold till the market corrects. Contact me and I can help with foreclosures, preforeclosures, sub2, 0 down condos and much more.
Happy Hollidays and Thank you,
Ted,
What can you tell me about the El Paso market? We were one of the lucky towns that didnt get a base closure and in fact we will be receiving 38,000 troops with the next 2 years here at Fort Bliss. Prices are still very affordable, considering other texas markets like Dallas and Austin.
thanks,
Angela
Howdy SunnyD:
Get me a motel room and I will be there tomorrow to start buying or lets just buy the motel. With upside like this there has to be a growth opportunity. Killeen is growing like crazy and hopefully will continue when the war is over and all the base closures are done.
What kind os deals are you finding cash flow wise?
I would not hold your breath on that one. After WWII, we were in Japan for 8 years and that was a much easier situation that this mess.
If we decide to pull out of Iraq, it will only be to strike next door (IRAN). We are in the middle east for the long haul ladies and gentlemen.
I am still trying to understand the logic from mainly the Left. We have military committed all over the world. The world is hostile and we need military more than ever. Not just development but personnel too. So what do we do? Cut military spending and close bases.
Good luck with the Texas RE though 
Yea those two left wing liberal presidents Reagan and H.W. Bush closed those bases and cut spending. Damn them!
We have presidents in this country, not dictators.
The president can’t do anything without help and many times can’t stop much.
Reagan was one of the best Presidents this country ever had.
Also, closing a base in the 80’s has little to do with the present situation. We thought the cold war was over, which is was. However, a new war has emerged and it is time to shift thinking.
The figure I saw was for 3,800 to be moved to the El Paso base. That is still a good influx, but definitely a few shy of 38,000.
Austin, Dallas, and Houston are popular. I hear of more people being interested in the coast or properties outside of large metro areas. Austin is moving closer to sellers market in some key areas of the city. In East Austin, we’re having multiple offer situations when the home is priced around market.
We’ve been getting a large number of out of town investors interested in our area. Some investment groups in Florida and CA have been buying a very large number of new homes as well as resale homes to hold for investment purposes.
I’m in the Dallas-Ft. Worth metroplex, and our prices are relatively flat here. That is, they are definitely not in a “bubble”.
Most areas around here have only gone up from 1% to 5% in the last year. A few suburbs have gone up more than this (Southlake, Westlake, Park Cities), and a few areas have actually seen slight median price declines in the past year (Flower Mound and Lewisville).
The builders are still adding inventory at a fast pace. Cheap labor and lots of available land are helping to keep the prices down despite a recovering job market. Hence, the low appreciation rates.
I’ve been selling a few houses to California investors. It’s amazing what they will pay for a house.
I warn them that the appreciation rates do not compare between Texas and California, but they don’t seem to believe me. (I have even shown them the rental houses I got ten years ago that haven’t doubled yet.)
They are just focused on the low relative price of the houses here. The same house in California would cost several times as much.
Don’t you love that you can buy a 5000 sqft in 20k sqft of land for less than 400k?
Can you guys in California or New York top that?
Yea. Only downside is the air (especially Dallas and Houston) is the worst in the country, the rivers and streams are highly polluted, and the laws prevent things from getting better.
Other than that, it is nice
Of course, east coast is not all that much better.
Still, the homes there are so cheap. Easy to be a cash buyer there