Texas Coast Property Buyers Cost Conscious and Risk AdverseThe current economic climate and technology innovations has created a more market savvy - value seeking consumer for Texas Coast real estate.
While overall market statistics show sales volume and median prices which indicate the coastal markets in Texas are in recovery and doing well, there are shifts in the type of products that are selling well and also new criteria that is being considered.
What we see are consumers who are doing more research and looking more carefully at longer term factors concerning their second home and retirement home purchases on the coast.
Some of the most noticeable changes and factors include:
- An avoidance of incomplete projects
- A shift to the more popular locations and markets areas
- Concerns about coastal erosion and potential flooding
- Demand for storm resistant and energy efficient homes (Green)
- Checking the financial health of the owners and projects
- Looking at the rental income potential and demand
- Ensuring medical and shopping preferences are close-by
- Asking other owners in projects their opinions
- More bargain seeking and seller concessions
It's clear we have "smarter" buyers and shifts in buying behavior and we think that the better products and locations will stand-out with more growth - and less valued products or weaker ownership will reduce in price and demand.
At the end of the day this will:
- help produce better products,
- increase value across all product types and locations,
- and help identify the best from the worst products and people.
A silver lining to down-cycles.
It takes more than marketing to succeed as a new home developer today, it takes true value and innovation. Thanks to the transparency made available with today's technology and open social community sites - and more savvy consumers who are doing more research & voting with their pocketbooks.
Those who are having success today - are clearly delivering more value.
Contact us if you are unsure about real estate products and/or locations you are considering purchasing on the Texas Coast - or if you would like our opinion on which are the best values for real estate on the Texas coast today.