[real-estate-investing] PROPERTY NEWS: Texas homes overvalued by 10 to 15 percent & Drug Houses site BELOW

Coolman 11.24

PROPERTY NEWS: Texas homes overvalued by 10 to 15 percent & Drug Houses site BELOW

On average, Texas homes are now overvalued 10 to 15 percent after home prices grew faster than incomes in Dallas and Houston over the past two years, according to credit ratings agency Fitch Ratings.

According to Fitchs February U.S. RMBS Sustainable Home Price Report, Dallas became overvalued in 2014 and Houston in 2013. Price growth rose for 42 and 54 consecutive months respectively in these cities. Over the past two years, increasing prices increased more rapidly than income growth by 3.3 percent.

In some cities, the declining prices of oil had an impact on the market as it pushed down drilling activity. This decline in income diminishes sustainable prices. The Baker Hughes oilrig count was down 42 percent in March from a year ago, and down 75 percent from November 2014.

The greatest potential for impact from the declining oil prices is in cities such as Midland, where the natural resources industry makes up about 40 percent of the income.

Houston faces less risk, with only 10 percent of wages originating from oil and gas, and Dallas is well diversified in around the private sector, outside of natural resources.

SOURCE: Kelsey Ramírez

FREE TIP, SERVICE OR PRODUCT: Drug Houses site at http://www.bcd.oregon.gov/druglabs/druglabs.html

Motivational Quote of the Week

You may only succeed if you desire succeeding you may only fail if you do not mind failing

POSITIVE QUOTE ON PROPERTIES: Watch it here http://youtu.be/ffH-nSBD7bQ

Thank you for your time.

Mark Bordcosh

1281Solutions

http://1281homes.com/

http://1281solutions.com/

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