Pearland Real Estate | Texas Real Estate | Cindy Cristiano | 713-733-8200

  

Cindy Cristiano was published in

"The Southwyck Newsletter ~ 2011 Summer Issue"

  

"TEXAS ON TOP"

By Cindy Cristiano ~ RE/MAX Top Realty

A recent article I read says that America's Top 2 Real Estate fears are 1) Foreclosure and 2) Declining Property Values and I am glad to report that Texas has weathered the economic downturn better than everyone else.  As a country, we have experienced a paradigm shift over the last few years and Texas Real Estate has been no stranger to all the changes.  Despite all the negativity the national media reports about the housing market, Texas remains on top and is continuing its remarkable growth.

Consider these facts from the Bureau of Labor Statistics published May, 2011:

  • Texas Tops the States for 10 year job growth
  • Texas had the 5th highest payroll growth in the Nation
  • Texas creates 1 in every 6 jobs in the U.S.
  • Texas is only 1 of 2 States to expand job growth this past year
  • Houston is the #1 Most Affordable City to do business

There is more good news!  Did you know that only 12 nations in the world have an economy valued at more than 1 Trillion Dollars?  AND...TEXAS is one of them!  In fact, Texas has the 2nd largest economy in the U.S. per a recent article in USA Today, June 2011.

Those figures mean better news for the real estate market in Texas.  Although we avoided the real estate bubble that other areas of the country experienced, we did see a decline in prices and volume of sales but recent housing statistics show a much brighter future here in Texas:

  • Texas is not in the Top 5 Foreclosure States in the Nation
  • The Top 5 represent 70% of foreclosures in the entire Nation
  • May 2011 - Foreclosure filings were the lowest since 2006
  • Nationally, 1 in 605 homes are in foreclosure
  • In Texas, 1 in 1,074 homes are in foreclosure
  • May 2011 - Texas has the 6th lowest rate of residential mortgages in foreclosure in the Nation

To further support that things are looking brighter here in our area, the Houston MLS data reflects that:

  • 4 of the last 6 months in Houston, the Average Sales Price has gone up
  • Every month, the percentage of sales price to list price has gone up

So, don't let the national news scare you into thinking that you need to wait until things get better when it comes to making a real estate move, the signs are there that things are better.  Just recently, the Texas Department of Housing and Community Affairs has made down payment and closing cost assistance money available in Pearland and surrounding areas for a limited time, up to $20,000 to first time home buyers or those who have not owned a home in the last 3 years. (Click here to find out more information on this program).   Interest rates are still historically low, in fact, we just had a customer close with a 3.5% interest rate!

Opportunities like this cannot last, take advantage of it now.  If you would like additional information, please don't hesitate to contact me at Cindy@MoveWithCindy.com or 713-733-8200 and become a fan of The Cindy Cristiano Team on Facebook!

 

 

UNLP * Summer 2011  /  Southwyck Sec. 1 * Page 5