By AMY DuBOSE
San Marcos Area Board of Realtors
Everyone knows the old adage that “all real estate is local,” but we seem to forget it when we start listening to national cable news or reading the New York Times. The San Marcos Area Board of REALTORS® aims to change that.
“Like so many other things in Texas, the real estate market in our state, and here in San Marcos specifically, is just different,” said Ron Brewer, president of the San Marcos Area 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. 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 & gas, professional & business services and leisure & hospitality; and
* Texas’ real estate values have endured, with median sales prices decreasing by only five percent compared to 2007 (unlike the 40+ percent drops seen in states like Arizona) and average sales prices remaining unchanged year-to-date.
In San Marcos, the news isn’t as bad as national headlines would lead homeowners to believe, either. The average sales price for a home in San Marcos has increased 10% (when comparing January 2008 and January 2009) and average days on the market are down from 106 (January 2008) to 90 (January 2009).
Brewer 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 San Marcos. Homeowners should consult with a Texas REALTOR® to learn more about what’s really happening here in San Marcos 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. You can also visit SMABOR.com to search for active properties in this area.