The word is out from the state think tanks. Real estate is on the rebound in Central Texas. If you’re looking to make a good investment in property, you might consider this fast growing part of the country. Central Texas is considered “The Hamptons” of Houston.
Houston is a city of considerable wealth. Oil and gas, chemical plants, shipping, and medical industries continue to be strong in this large international mecca. Often times, wealthy residents want to buy that extra get-a-way home that’s close by. The area between Houston and Austin is ripe for these kinds of homes. Therefore, as the economy recovers, wealthy Houstonians will be buying real estate in 2011.
In 2010, real estate in Central Texas bottomed out, but even at the bottom it retained most of its value. For someone looking to get a good deal in the area, now is the time. When the spring arrives and the wildflowers bloom, the prices will go up. Probably the most attractive county in Central Texas will be Fayette County. There are no congested communities in this area, and it’s only an hour and a half from Houston.
Properties long held by one family are starting to be sold. Many require some minimal improvements, but many are already set for a weekend home. Typically, these large farms are subdivided and sold as several properties. Their location to a variety of activities makes them enjoyable to own. There are various music halls that offer different genres of music, various art guilds and organization, antique fairs, great cycling routes and some excellent restaurants. The weekend guest will never get bored.
One of the great values in rural Central Texas property is that most of it is in tax exemption due to agriculture. That’s a big selling point. It’s also rumored that oil production is about to increase again, and that could mean royalty income. Buy now! Summer of 2011 will be too late.