subject: Should You Try Investing in Property in Texas? [print this page] Should You Try Investing in Property in Texas?
After the federal tax credit program helped shore up home prices and other related figures a couple of months ago, it seems that everything is heading for a downward trend now that the government incentive is gone. In a latest blow to the beleaguered industry, reports showed that home builder confidence fell to the lowest level this month. This led to some people to question if investing in property is indeed a good idea.
Well, the answer to this question really depends on the location of the property you want to invest in. While it is true that most real estate markets across the country are struggling to get back on their feet, there are places in the U.S. that have healthy housing markets.
Take the state of Texas as an example. According to a recent study, the Lone Star State has one of the healthiest real estate markets in the United States. A market research conducted by Metrostudy Inc. also showed that the southern state is leading the country in housing starts and population growth. And while foreclosures remain a big issue in Texas, the state's problems with foreclosed homes were not as tough as those being faced by other parts of the country.
If you want to try investing in property, you might want to consider doing it in the Lone Star State. Reports said construction of new properties surged by more than 50% in the Dallas-Fort Worth area in the first quarter of the year. The median price of existing homes in Dallas, on the other hand, rose by 2% from 2009 to about $151,000 this year. These are definitely good signs of a healthy real estate market so if you're thinking of making some real estate investments, the state of Texas is the place to be.
But before you buy an investment property in Texas, or any other places for that matter, you have to be sure that you're spending your money on the right investments. Always remember that it is important for a real estate entrepreneur to carefully study the market he wants to invest in as it enables him to avoid making mistakes that can cost him tens of thousands of dollars.
Meanwhile, if you want to learn more about the process of investing in property, you can go to www.REIWired.com. By logging on to the website, you can access its quality articles, audio files, and videos on real estate investing.
