Texas
Why is Different
Downtown Houston
Strong, Diverse Economy Texas is strong in industries that are still growing (such as energy, education & health services, government and hospitality), according to the Texas Workforce Commission. In addition, the state’s four largest metros (Dallas-Fort Worth, Houston, Austin, and San Antonio) were recently ranked in the top 10 cities projected to recover from the economic recession nationwide (America’s Fastest Recovering Cities , by Francesca Levy, Forbes Magazine, Nov. 19, 2009).
Enduring Home Values From 1999 to 2009, the median home price in Texas increased 45% while home sales increased 16% (Real Estate Center at Texas A&M University).
Relocation According to the Allied Van Lines 42nd Annual Magnet States Report, Texas is the No. 1 destination state for residential relocations in 2009 for the fifth year in a row.
Statewide facts
Texas real estate remains a strong long-term investment.
In five years, the average home sales price in Texas has increased 13% in value, or $21,300 (November 2004 to November 2009); over the same period, median sales prices (half of all homes sold are priced higher and half are priced lower) also increased 12% in value, or $15,100. Also, with the state’s population growth expected to rise 11 % by 2015, all those people will need a place to live. In fact, Texas home sales have been on a steady upswing, increasing 62% from January 2009 to November 2009. * Data from the Real Estate Center at Texas A&M
Texas homes have appreciated steadily.
Appreciation refers to an increase in value of a property. It is a measure of the demand for the property. While home sales prices in places like California, Florida, Nevada, and Arizona have experienced rapid rises and drops in values, Texas prices have remained relatively steady. Home price appreciation in Texas has not fallen below zero in the last 16 years. At the end of September 2009, Texas ranked eighth in the nation for home appreciation according to the Federal Housing Finance Agency.
Texas homes are more affordable
Using a ratio of average family income to income required to qualify for a loan, the Housing Affordability Index indicates the proportion of the population that can afford to buy the average home sold during a certain time period. The higher the index, the more affordable the housing in that area. See the Housing Affordability Index Comparison chart below from the Real Estate Center at Texas A&M. Area
2009
2008
2007
2006
2005
2004
2003
2002
Texas
1.84
1.59
1.45
1.52
1.68
1.77
1.81
1.68
USA
1.57
1.33
1.11
1.09
1.23
1.34
1.61
1.43
Great rates are available
The screenshot in this page contains mortgage rates in Houston, Texas as of January 12, 2011. Mortgage loan rates are the lowest they have been in decades.
Austin, Texas
Additional Resources Houston Association of Realtors (www.har.com) Real Estate Center at Texas A&M (www.recenter.tamu.edu) Texas Real Estate (TexasRealEstate.com)
Find your home with Intero Web 2.0 Site All properties, one site.Visit www.interowestave.com
Closing Doc Storage Retrieve or add to your set for as long as you own your home Transaction Management Featuring online access. See your transaction 24/7
Find
Close
Negotiations Great negotiators with the right attitude and high expectations.
Text HOUSTON to 59559 Any yard sign, any neighborhood, any phone. Try it now!
InteroRE app Featuring map search and neighborhood explorer
Learn
Mortgage Center Lots of information to master the loan process
Calculators Crunch the numbers from a single location
My Intero Your personal account. Customize your search, setup email alerts and more
Professional service A dedicated agent showing you properties and providing advice Market Data The Reading Room Get market reports straight A facebook library with valuable from the MLS guides from top leaders in the field
WEST AVE OFFICE
a 2800 Kirby Houston TX 77098
t 713 568 2389 e info@interowestave.com