Originally uploaded by thenelsonproject
Loved the special report in the real estate section of today’s Austin American Statesman regarding gulf coast living and the health of the related condo and development market. Texas markets including the TX coast remain some of the healthiest real estate markets in the country. The article tells us that “nearly two-thirds of the states’ shoreline is protected from development [love that]. But where it’s permitted, development has been revving up, from Galveston to Mustang Island.” And Corpus and South Padre. It’s all good.
The TX gulf is a great place for a bargain. “For anyone interested in oceanfront property, it’s the only game left where you can get in for less than $1 million,” says Jim Gaines, research economist at the Texas A&M University Real Estate Center. Heck, you can get in for under $250k. I’ll personally stick to the $219k new ICF construction town home I am building 2 blocks from the beach in Port Aransas. It’s called The Commons and fits nicely into my budget and my plans to invest outside of Austin and, quite possibly, retire or semi-retire to Port Aransas in 9 or so years. Yes, you can purchase 2 blocks from the beach for under $250k. I’m thinking get in now while you can.
One thing I found in the article that I totally had not considered has to do with foreign investment. “Because of the falling dollar, it’s like a 30%-off sale for homes in the States. And if you’re a European or Mexican who’s looking for coastal property, it’s far more affordable here than anywhere else.”
The fishing’s great. So is the real estate.
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