Residential real estate: a rare commodity?

Across the nation, home sales have been seeing record numbers. From the east coast to the west, new home sales, resales and investments have seen staggering growth leaving many people wondering just how long this can go on. With lowered interest rates stretching into another year, the demand for homes is still on the move up. Rates can not remain at this level forever, but they have generated an unprecedented boom for the nations economy and have help bring to fruition the American Dream: the ability to own your own home.

Midland itself is in the middle of a housing flux that is a growing concern for Realtors such as myself. "We're running out of property to sell!" You can see it in their faces as you walk in the door. Your kindly real estate agent greets you, welcomes you to their office, sits down for an interview to find out just what you are looking for: 2 bedrooms or 3? garage? square footage? price range? The list goes on and on. But the sad thing is, at the end of this interview the odds are that you'll end up looking over a list of properties about 20 to 30 long. That's about it!

"Huh?" That's correct. In almost any price range in Midland, the inventory of houses is rather limited. Homes under the price of $100,000 are especially low in quantity. "But how can this be?" Glad you asked. I asked myself and others the same question. Here is what we found.

Throughout Midland, people are moving up! With interest rates so low, people who bought a house 10 years ago for apx. $100,000 can now afford a $200,000 house and still have the same monthly payment! Hey... that's a lot more house! So this then created an inventory of homes in the $100,000 range that were now affordable to people that could only afford less. Thus, they are taking a step up. People that were heretofore "renters" are now finding that they can afford to buy and are finding it easier to do so than ever before. On top of all this, with Midland's new bout of growth... people are moving to Midland in droves and are becoming our new renters.

Demand is up for residential property across the boards: rent property, new homes, resales, you name it! Prices have been going up recently despite it all, finding a vacancy in this town is a hard thing to do! On a daily basis, I can personally find myself taking ten calls each day from people looking for a place to live... and I just don't have it right now! I have great tenants! All my properties are filled up and the chances of someone moving are slim and none!

What does this mean for you? Well, let me tell you. For anyone in Midland with a home, apartment, guest house or money to invest... you are sitting on the opportunity of a lifetime! We can find a way to create rental property for you that can do many things: 1) Make your mortgage payment for you. Instead of being foreclosed on, rent a place for yourself and rent your home for a profit! 2) Build equity. If you own your home, or have inherited a property in Midland, you can hold on to it and turn it into a monthly payment that goes directly to you! 3) Save for the future! Property you own now can pay for itself now... but as you near retirement, if you don't want to worry about taxes on an extra house... sell it! That investment will now become liquid assets: Money.

Currently, my office Williams & Assoc. is building townhomes all over Midland. These properties are selling around the $80,000 range and are beautiful, new, easy to take care of and best of all: affordable! Couples are living in one side and renting out the other for spare income. Single mothers are getting a nice, new, secure home for themselves and their children. Retirees are finding a low maintenance estate that cares for itself and is comfortable and easy to relax in.

I'm not ususally one to toot my own horn, but I gotta tell you, there are so many ways to not just save yourself some money in today's Midland market, but ways to make money as well! If you had any idea what your property was worth... think again! I'll bet you dollars to doughnuts its worth more than you think.

Give me a call and let's see what we can find that is best suited for you! Call (432) 694-9663 and ask for John Boswell. Mr. Williams is "John" too, so you need to ask for me. Just ask for the "good looking guy," or humble. Either one works. ;)

Have a great day!