Texas Hill Country Blog

WHAT TO DO, WHAT TO DO
June 9, 2010

Filed under: Blogroll
, Local Events
— EasyMoneyNeverWorks @ 5:45 am

We get calls all week long asking about the market. When we get these calls the caller usually has been listening to the news of CNN, FOX, CNBC, CBS, etc. hearing conflicting reports that they feel like they don’t know what to do.The DOW’s up, the DOWs down, now it’s moving sideways. Should I buy gold or silver? Or is it too late? Greece is pulling everything down, now China’s got problems, the EURO is up and then it’s down, PIIGS are the problem and what is going on in real estate? Real estate sales are up, confidence is up, but there are so many for sale signs on homes? In Fredericksburg Realty’s 45 years of business there has never been more confusion. This short column can in no way give you the answers for the world or even our own country regarding the many financial markets, but we can tell you why real estate is the place to be, especially in the Texas Hill Country.The Gillespie County MLS covers Gillespie, Blanco and Mason counties, in addition, we have sales in Llano, Kerr, Kimble, and Kendall Counties. As of Monday, May 17, 2010, 176 properties have sold in the entire MLS compared to 122 this time last year. For the entire MLS the dollar sales are double over last years $25,000,000 to just over $50,000,000 for this year. For Gillespie County only 2009 had 69 sales compared to 99 in 2010 thus far and $16M in dollars sales in 2009 compared to $28M this year. The record year of all time for sales was 2006 when 274 properties had sold year to date for $63M in the entire MLS and in Gillespie County there were 210 sales for $42M. While sales are down from these highs, they are actually doing very well in this area considering what we hear from Phoenix, Detroit, Florida, California and Las Vegas. So if you have cash and you aren’t happy with the .05 per cent you are getting at the bank or you don’t trust the news media, Washington or Wall Street, then what you should consider is investing in Texas Hill Country Real Estate. There are a few bargains to be found, there really aren’t any ‘real steals’, but that is a testament to the stability of our market, the equity of our market, and the conservative nature of borrowers & lenders.

We don’t have those wild fluctuations where values went up 30-60% in a year or people doubling their money. Consequently prices haven’t dropped 70% either. If you are looking for a home there are many choices in every price category. It is a great time to be a buyer with low interest rates and so many choices to pick from. If you wish to be in the country, land offers many opportunities not only the enjoyment of ownership, but a place to go to get away from everyday life, to picnic and hunt, build a cabin or a permanent home. City building lots and rural land residential tracts are important buys right now. We feel there has never been a better time to buy for your future home.

Since 1965 Fredericksburg Realty has been helping buyers and sellers with their real estate needs. We don’t know much about Wall Street or Washington, except we don’t like what we see and hear. So we are glad to be right here in the best place in the world….

Texas Hill Country Fredericksburg, Texas….Sherman D. Durst