“Like so many other things in Texas, the real estate market in our state, and here in Beeville specifically, is just different,” said Jesus C. Mendoza Jr., president of the Bee County Board of Realtors. “For example, the national news doesn’t report that the Texas economy added more than 150,000 jobs in December 2008 in their story about how the nation lost 2.8 million.”
There are many things that make Texas different, he noted. For example:
– The state continues to experience job growth, despite continued job losses nationally, and has the second-largest economy in the nation as judged by GDP;
– The Texas economy is diverse, including industries that continue to perform well, such as oil and gas, professional and business services and leisure and hospitality; and
– Texas’ real estate values have endured, with median sales prices decreasing by only five percent compared to 2007 (unlike the 40 plus percent drops seen in states like Arizona) and average sales prices remaining unchanged year-to-date.
In Beeville, the news isn’t as bad as national headlines would lead homeowners to believe either. Mendoza continued, “National news has created an environment of doom and gloom that has many Texans believing it’s a bad time to do anything in real estate and that’s simply not true here in Beeville. Homeowners should consult with a Texas Realtor to learn more about what’s really happening here in Beeville and evaluate their own personal situation to make sound decisions about their next real estate investment.”
To learn more about how Texas real estate is different, visit TexasRealEstate.com.