The Only Real Estate Market is Your Local Market.

I keep trying to convince people in Collin County of this fact. We still have a good market. This fact struck home this week as I spent the week in Lee(Ft. Myers) and Collier(Naples) counties in Florida. Everyone wanted to talk about real estate when they found out that I am in the business in Texas. Those of us in North Texas still have a predominantly positive story to tell. True we have our share of foreclosures, but the bubble that burst in Florida never happened in our part of the country. We haven't had the drop in prices that have  happened in Florida. There is a modest house on the market next door to my son's house in Ft. Myers that was priced at $225,000 a few months ago. The flyer in front of the house today has an asking price of $149,900. The first price was high and the second has to be too low, but in todays' Ft. Myers market buyers are not beating down the door to see this one. The house needs some work, but it is in a great location near freeways and a few blocks from a city park and recreation complex. Even the foreclosures in Texas are not seeing these kinds of price declines. Without the inflationary bubble seen in parts of the country like Florida, California, Nevada and Arizona, our market in Texas, even with its flaws, is the envy of everyone I met here in Florida.