| | | | | | | |
|
|
|
|
Corpus Christi Area Market Analysis Early 2008
185 Views ::
1 Comments ::  |
|
Market comparisons for January 2007 to January 2008
for the Corpus Christi - Port Aransas area
MLS records reflect sales a very slight decrease by 8 units in January 2008, resulting in a dollar sales decrease of slightly over two million dollars. This is most likely directly related to uncertainty in the economy, the Presidential race and tightening of the credit market.
Median unit prices rose slightly for the period.
Showing Market Strength and outperforming the nation.
click here for more sales analysis
|
The Port Aransas, North Padre and Mustang Island second home market has a great future
Because of the economic strength and population growth of Texas - in particular, their primary "buyer pool" of: Austin San Antonio, and the Corpus Christi Metro area - which alone, could provide all the buyers their market needs.
And this strong buyer pool has a very large - elite retiring population who are looking for a second home that is not only close-by, but also has all the 1st class attractions and medical facilities that Corpus Christi offers just across the bay
click here for more Texas coast buyer demographics
|
The national credit issue has little effect on the second home market
The banking system is welcoming back many of the more creditworthy customers, but the process is expected to take some time. However, Texas coastal property is the land of second homes. The majority of second home purchasers can afford larger down payments; have above substantially above average credit and enough income to lead the industry to recovery once the mortgage situation corrects itself.
Most important, while economic growth is expected to continue to slow, Texas is still expected to outpace the national average.
In the longer term, Texas’ location and cost advantages, fast-growing population and relatively buoyant economy put the state’s housing industry in a strong position to respond when demand turns the corner. Learn More
Climate for the Corpus Christi Area
 |
Texas's climate has always been variable and sometimes extreme—and climate change may intensify this historical pattern. Average state temperatures have varied substantially over the past century, with a warming trend since the late 1960s.
Average rainfall has increased slightly, both in the summer and winter, and extreme rainfall events have become more frequent. |
Risk Reduction and Adaptation - Improved Building Codes and Modern Systems Built Homes Helping to Reduce Risk for the Newer Homes
Sadly, some climate change is inevitable. The U.S. needs to "climate proof" its domestic infrastructure including military installations, particularly along its coasts, to ensure it is prepared to withstand and respond to extreme weather events. As Hurricane Katrina showed, investments in risk reduction are likely to be much cheaper than disaster response. Substantial investments in risk reduction include: coastal defenses, building codes, emergency response plans, and evacuation strategies. Read More on Risk Reduction
Towards that end many coastal builders are building homes well beyond the established local building codes. The Insurance Industry has embraced these higher standards as the result in less likelihood of storm damage. Read More on these hurricane resistant, systems built homes that have actually added value for the homebuyer.
|
|
The Nation's other coastal markets are having problems - while Texas continues to shine.
Read More on how the recent real estate value crisis wrecking havoc on California coastal properties has helped produce potential buyers in the Corpus Christi area.
States that are clearly in trouble: California with a 286% increase in foreclosure activity from 2006;
Arizona up 168%, Nevada up 279% and Florida up 144%.
New Yorkers also expressed high interest in the Corpus Area, followed by Colorado and Georgia.
Foreign Buyers also made numerous inquiries about the Corpus area as a falling dollar produced bargains for foreign buyers. Canadians showed the most interest followed by Germany England and Spain.
The events of 2007 have made the United States much more affordable for international home buyers. Severe dollar declines against the euro and pound have made U.S. homes much cheaper for Europeans.
But even foreign buyers without that sort of currency advantage are benefiting from sharp drops in housing prices at a time when problems in mortgage lending are keeping many Americans out of the market.
At the same time, many foreign real estate markets, especially in Europe, have experienced sharp increases in home prices.
Read More... |
|
|
|
|
|
| Comments | |
Bycraftmaster construction @
Wednesday, May 14, 2008 1:07 PM | |
BUILD YOUR NEW HOME WITH APEXBLOCK THE ANSWER TO STORM RESISTANT AND ENERGY EFFICIENT CONSTRUCTION , DIRECT FACTORY MATERIAL CONTACT AND ICF BUILDING COMPANY. LET US PROTECT YOUR INVESTMENT. 832- 247- 4187 |
|
|
Click here to post a comment |
|
| | | | | | | |
|
|