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Texas Gulf Coast Real Estate Market Trends Exposed
826 Views ::
3 Comments ::  :: Gulf Coast, Real Estate, Market Analysis, Second Homes |
Texas Gulf Coast Real Estate Market Trends Exposed
Now You can explore the trends in our marketplace and make better decisions.
Whether you are buying or selling, TexasGulfCoastOnline.com has put together special programs and strategies to help you come out ahead in today's market. A second home can be your largest investment apart from a first residence and you need the most up to date data and tools available to make an informed decision.
TexasGulfCoastOnline.com has obtained local information from Multiple Listing Services (MLS), participating brokers, developers, news sources, and well-known industry experts and displayed in an easy-to-understand format. According to Mike Stuart, developer of texasgulfcoastonline.com, "You need the right information and need someone acting in your best interests to help you interpret and apply it to your particular needs and situation. We are here to help you when you need us."
 Thought about purchasing a property on the coast? You may want to know if the area you’re interested in is a seller’s market or buyer’s market. You may also want to know what people are paying for property in the area.
Interested in new developments? Find out what you must know before purchasing pre-built homes.
Thinking of selling your second-home? Learn about potential buyer’s demographics and how to better market your property. Decide if this is a good time to sell by reviewing the area’s average month supply and its average spread.
These tools will help prepare you whether you are looking for a second-home, thinking of purchasing an investment property or wondering if it’s a good time to sell your property. You can view graphs comparing the different areas as well as learn about the different determining factors in each market.
Learn more about the buyer demographics, market fundamentals, market analysis, analysis reports and factors in the community that affect each area on the Texas Gulf Coast! Below is a description of each of the pages now available.
Analysis Tools Reports & Videos: - Learn about simple strategies for buyers and sellers
- Read advice for buyers of systems built modular homes
- Watch real estate market videos
- Follow links to Home Value Tools such as: Rent vs. Buy Tool
- Compare Texas Real Estate markets to others around the nation
Buyer Demographics Analysis: - Discover the characteristics of second-home owners
- See the nation’s migration pattern for 2007
- Learn about each area’ Buyer Demographics
- Find out the top out-of-state interest on the Texas Coast
Market Fundamentals Defined: - Learn about Texas real estate market fundamentals
- What makes a real estate market be balanced, buyer’s or seller’s market?
- Discover the Guidelines for analyzing a local market
- Look at each area’s short term and long term market status as well as recommendations for each
Location and Community Factors: - 10 top ideas from the experts about choosing a second home location
- Top 3 standard arguments in favor of real estate
- Learn more about the communities on the Texas coast
Market Analysis Summary: - Learn what the real estate market drivers are for the Texas Coast
- Compare the Total Sales by Area
- Compare the Average Sale Price by Area
- Discover the Texas Gulf Coast Market Fundamentals for 2007
Thanks to Texasgulfcoastonline.com the general public can now view sales graphs, learn about buyer’s demographics and market fundamentals for the Texas Coast. Anyone interested in reviewing the data can analyze it and come up with their own conclusions as to what decision is best for them.
This is a great place to begin your research and if you have any further questions about a particular area, an agent may assist you and guide you in the right direction.
Click on the links below to learn more about the current status of the Texas Gulf Coast Real Estate markets.
Find out what's so HOT about the real estate market on the Texas coast
and why we lead the nation in almost every statistic for coastal property.
We served over 4 million pages to over 1/4 million people in our 1st year of operation! We are the voice for the Texas Gulf Coast! |
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By
Lawrence Yun, NAR Chief Economist @
Wednesday, January 23, 2008 6:39 PM |
Demand Versus Buyer Hesistation
by Lawrence Yun, NAR Chief Economist
Pent-Up Demand
The pent-up demand is indeed sizable once we run through the tapes. Job and income gains have risen solidly over the past two years – interesting when at the same time home sales have been falling. Net job gains have increased by 4.3 million according to both company payroll data and household survey data. U.S. aggregate personal income has risen by $1.4 trillion over the past two years. Such job gains should have translated into about 2 million additional homeowners, yet the actual rise over the two-year span was only 600,000. Over the same time period, housing affordability has actually improved with incomes rising, home prices falling, and conforming mortgage rates at near historic lows, yet … a very slow rate of net new homeowners.
Furthermore, household formation has mysteriously slowed. With normal population and job increases, household formation typically expands by 1.2 million to 1.5 million per year. The latest Census data points to only 650,000 net new households formed in 2007. Many people have evidently doubled-up with additional roommates or have moved back with parents and family members.
But buyers are hesitant. Why? Anticipated lower home prices are holding back many people from buying a home now. Foreclosures will continue to rise in 2008. There are many research reports and media reports (irrespective of validity) pointing to further price declines. Anticipated lower interest rates are also holding back many potential buyers. It is widely believe that the Federal Reserve will be cutting rates in the next two or three meetings. Though there is no direct relationship between a Fed rate cut and mortgage rate changes, many consumers perceive that mortgage rates will fall with the later Fed rate cut. Given this perception, it would be wise to make a one-time large rate cut rather than a series of small rate cuts in order to end the delay in home buying. Since the Fed Funds rate is likely to be at 3.5% by late spring, why not just cut it to that level (from its current 4.25%) at the next FOMC meeting?
Though pent-up demand clearly exists, it is still tricky to anticipate when a meaningful recovery will take place. I do not foresee any major existing-home sales declines from this point onwards, but sales could remain at their current soft pace for a while. Will it be spring or summer or fall when we will see a notable pick-up in home sales? Difficult to say, but it will happen in 2008. |
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By
Harvard University Joint Center for Housing Studies @
Wednesday, January 23, 2008 7:53 PM |
Strong Housing Demand Means Better Times Ahead
Factors that will drive up demand:
1. Net household growth should total 14.6 million from 2005 to 2015
2. Considering only changes in age distribution of the population, the period should see demand for 1.2 million additional second homes. The true demand could even be much higher.
On the strength of demographically-driven demand for housing, the market will bounce back from its currently suppressed levels |
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By
Conor Dougherty, The Wall Street Journal Online @
Wednesday, January 23, 2008 8:00 PM |
Affluent retirees and other high-income types have descended on remote areas, creating new demand for amenities like interior-design stores, spas and organic markets. For many communities, it's the biggest change since the interstate highway system came barreling through in the 1960s and 1970s.
With the Internet allowing people to work from almost anywhere, the distinction between first and second homes has become blurred. Many people are buying retirement property while they're still employed. Millions of soon-to-retire baby boomers, say demographers, will propel this trend for years to come.
Baby Boomers and the previous generation are moving to rural areas in increasing numbers, according to Kenneth Johnson, senior demographer at the University of New Hampshire's Carsey Institute.
76% more people over age 50 moved to recreation counties, places with lots of amenities and seasonal housing.
This suggests that people who are now in their 50s and 60s are moving into these recreation counties more than in the past |
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