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Top 10 Reasons Why the Texas Coast Real Estate Market Will Boom in 2008

Texas Gulf Coast Online reports the Top 10 reasons why the Texas Coast real estate market will boom to record levels in early 2008.

The evidence that Texas Gulf Coast Online has uncovered which predicts a real estate boom for the Texas Coast is supported by several facts that make the argument convincing.

  1. Baby Boomers from thriving Houston/Dallas/San Antonio/Austin are coming in mass starting in 2008
  2. Investors from California/Florida are now turning to Texas
  3. Huge capital projects in Beaumont area for energy plants - 3.6 billion
  4. Federal Spending on the Border Security Fence - 3 billion, construction starts in fall 2007 for Texas
  5. Strong rental demand for coastal properties for massive local and growing populations within driving distance to the coast
  6. Texas Exports to Booming China’s economy are skyrocketing
  7. New high-end developments transforming the resort markets to accommodate all the new and different buyer profiles.
  8. State expenditures to improve and protect the coastlines with beach replenishment, geo-tubes and other major coastal initiatives already funded or soon to be funded
  9. The affordable prices for Texas coastal property and steady appreciation rates. We are 1/3 of California’s and half price of Florida’s median pricing for ocean front property and our newer products are on par
  10. Consumer Confidence Index Climbs to a Six-Year High and Insurance companies are now returning to the Texas Coastal markets

The study also includes comments from some of the major developers and real estate agencies on the Texas Coast.

When asked where buyers on the Texas Coast are coming from, Alice Donahue, owner of the leading real estate brokerage for the Texas Gulf Coast, says, “What we are seeing are sophisticated buyers who are retiring within the next few years and want the ’sun, sand and water.’ The Texas Gulf Coast offers this plus much, more!”

According to Edith Personette, owner of a leading marketing agency for the Texas Gulf Coast, “people buying along Galveston are many empty nesters who want a place an hour away from Houston - many still very active executives or business owners - some perceive they may keep for retirement. They are primarily driven by closeness to Houston and reasonable prices.”

Texas Gulf Coast Online also talked to major developers in the area such as Jim Hayes, Senior Partner of Crown Team Texas, and Jeff Lamkin, Senior Partner of Sea Oats Group Atlanta, to find out some of the environmental/political issues developers face when trying to build along the Texas coast.

According to Jim Hayes, “New development on the Texas Gulf Coast requires a wetlands delineation that is performed by a professional and must be approved by the Corp of Engineers. The Delineation report can take about 2 months to produce and then take from 9 months to several years to get approved.”

Jeff Lamkin shared that, “it is important to be mindful of the environmental issue along the coast. On Mustang Island in particular there is an incredible dune system and a stable (non-eroding) beach. These are 2 critical factors that cannot be overlooked when purchasing beach property. In the good ole’ days people would bulldoze a path straight through the dunes - modern developers recognize the importance of these dunes and guard them as protection from the weather.”

Read more about the study at: Texas Gulf Coast Online

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