Bad news about plummeting home values and foreclosures dominate the headlines, but the forecast is not so bleak for Texas landowners.
According to the Texas A&M Real Estate Center, 2008 statistics indicate an overall positive shift in Texas real estate values. From 2007-2008, the price of Texas agricultural lands increased an average of 10.5 percent. And, as sales data for the first quarter of 2009 trickles in and projections are made for the rest of the year, trends indicate buyers are active in the market and banks are lending.
Real estate is an appealing investment during a bear market, and while the Texas real estate economy is in a correction phase and market participants need to keep abreast of the latest information, data indicates buyers are looking for quality property. This is what they can find in the Lone Star State--our pledge to private property owners’ rights and economic development make Texas a great place to invest.
You can read more about a variety of issues affecting property owners and the real estate market on the Real Estate Center's Web site.