We have been blessed, here in Texas, to not have been affected as much as the rest of the country by the economic downturn.
Our property values remain pretty steady and growth of of around 2-5% is good for us. Some areas, certainly grow faster, and others seem to never move much in their values. But, all in all, we don't have the peaks and valleys.
Investing in Texas real estate has been growing with the West Coast investors looking for a place that their investment dollars are relatively safe.
In a recent Keller Chamber of Commerce luncheon, Dr. James Veitenheimer stated that Keller ISD bases its budgets and projections for enrollment on new housing starts. He said that we did see a decliine in starts this past year, but that the projections were that we had completed the downturn and were now looking toward the recovery in the Spring of 09.
There are other sources that say we will be in full recvery by 2011, but of course, there are no crystal balls in this business.,
Although we have had our share of hits from foreclosures and the mortgage debacle, it appears that we are poised for a better year next year.