Tribune Print Share Text

Home values hold strong

Lone Star State avoids real estate crunch

Created date

August 3rd, 2009

A recent study found that home prices are remaining stable in the great state of Texas. A new report from Lewis Realty Advisors, a real estate advisory firm based in Houston, says Texans should not fear that property values will plummet like they did in the 1980s or how they have in other parts of the country. Demand for property in the Texas real estate market is generally good, and overbuilding has not been widespread, says David Lewis, chief executive officer of Lewis Realty Advisors. The more I speak with real estate associations around the country, the more I appreciate the strength with which [our] market has weathered the economic downturn, says Vicki Fullerton, Houston Association of Realtors chair and broker at RE/MAX. Our current housing climate has been performing at about 2004 levels, while other regions of the U.S. are suffering what Houston endured back in the 1980s. Moving made easy Blaga Bayer, the personal moving consultant at Eagle s Trace, helps people move to the Houston-based retirement community every day. Houses are staying on the market longer for people trying to sell without professional help, says Bayer. But if you have a good real estate agent who knows the area, houses are selling very well here. Bayer says future Eagle s Trace residents who have been taking advantage of the Erickson Realty & Moving Services program, which provides people with prescreened real estate agents, are having quite a bit of success. We ve seen a number of people who have used our recommended Realtors and had no problem selling their old homes, Bayer says. Margot Curtis, who recently moved to Eagle s Trace, sold her home in just a couple of months. It wasn t bad at all, she says of the process. You never expect perfection with something this complicated, but my experience was very good. With the help of Erickson Realty & Moving Services and the recommended real estate agent, things went very well. It went quickly and smoothly. I was really impressed with Blaga and everyone at Eagle s Trace who helped with the process. Key indicators Lewis points to other economic indicators supporting his belief that the Texas real estate market will remain strong in the coming months. Among those indicators is the fact that Dallas, Austin, Houston, and San Antonio have continued to create new jobs during the course of the last year. Also, Texas realty prices did not appreciate wildly like the Californian and East Coast properties did a few years ago, Lewis says. So there is no big decline or correction coming to Texas.