So what is going on in Real Estate in Texas?

[zork]

So what is going on in Real Estate in Texas? Is there really tens of thousands(or more) of foreclosures that aren't even on the market being held by the bank? If so then why? It seems like Texas wasn't as hot in the boom and still suffered some here in the the bust but not as bad as other places?

Will real estate taxes change in the coming years?

Here is a more general article on real estate. The Link (not Texas specific)

 

[general35]

lots of people are moving to texas for jobs and the influx of people has been a stabilizing factor on the value of homes despite some foreclosures. the energy sector has saved this state for the time being.

 

[UTChE96]

Real estate in Houston never moves much in either direction. My property has actually gone up slightly in value during the housing collapse but I live in a good area.

 

[orangecat1]

It's still settling to the bottom in some areas. Our town, McKinney, for example, a friend with a moderately high end home, Paul Taylor homes, his tax appraisal went down another 10k for this last round, meanwhile my low end Fox and Jacobs home went down only about 2k.

The good news is they are finally catching up on highway construction, the 121 tollway and 75 interchange is done, and in another year part of 75 will have four lanes in each direction, yea!!!


But, there is actually a tiny amount of construction going on, not sure why. The growth has come to a screeching halt, and the school district is growing only because there are more babies growing up and entering school than there are HS seniors graduating.

 

[theiioftx]

Real estate in Houston is fine in my area (west). Purchased my house in 2001 at $112 per square foot. Houses in neighborhood selling at $150 per square foot now. Houston is a great city for oil and healthcare jobs, so I think we will continue to survive this recession pretty well.

 

[SomeMildLanguage]

Texas has about 4% of the nation's foreclosures and 8% of the nation's population.

 

[SomeMildLanguage]

And new data just came out. June 2011 foreclosures in Texas were down 23.3% from June 2010.