Midland, Texas : 100% Occupancy ?

I'm sure you've all heard about this housing problem: thousands in foreclosure, markets across the nation have crashed, people are being kicked out, etc. Well, welcome to Midland, TX.!

www.rentmidlandtexas.com

If you click on this link, you'll see a front page article from the Midland Reporter-Telegram. (Image of paper courtesy of the MRT) Back in April when this article came out, you couldn't hardly find a place to live in this town. Rents were at an all-time high, apartments were full, houses were full, mobile home parks were full, RV parks were full. It was a pretty sad state of affairs.

Well guess what? Still that way.

Yes, ladies and gents, if you want to rent a basic, 80's built 3 bedroom, 2 bath, 2 garage standard house with no updating really... you'll be paying in excess of $1,500/month easily. Nicer, newer homes are renting for $1,900 and up. Apartments have no come down. And the new ones recently built in both Midland and Odessa are all full with at least a 2 month waiting list.

Being a property manager, this is all job security for me. Being a caring human being, I'm almost sick over how the market has shot up! I've been encouraging investors to come to Midland to buy and lease, only we have less than 330 properties for sale on the MLS market!

Oil is up, and that is good for Midland. But if you are planning to move here for the work, PLEASE do a little planning ahead.

And for those of you checking Craig's List: BE WARY. I've heard more than one story of someone mailing/wiring their deposit money to someone to hold a property, only to find they were bogus, took the money and ran! If you are not dealing with a reputable REALTOR who's got your back, then it really is Buyer Beware!

By they way, if you are an investor: you still need to check us out. Midland is going nowhere but UP from this point, and continued into the future for minimally a year, potentially next 5 years ... straight up and vertical growth.

Future projects coming on-line in the Permian Basin:
UTPB Fine Arts building - 1,800 capactiy theater
Summit Energy clean coal plant in Penwell just outside Odessa
191 Development, including Sewell Village development
Completion of Loop 250 to I-20, fostering growth along the interstate and in Greenwood
Over a dozen subdivisions, many of which are on to phase 2 or 3 of their expansion
..and much, much more.

I'll be back!