Submitted by: Jack Jones, Realtor- Boerne Office
Hill Country landowners (and folks thinking about becoming landowners) will be encouraged by a recent article written by Dr. Charles Gilliland, a research economist with the Real Estate Center at Texas A&M.
In the January issue of “Tierra Grande”, Dr. Gilliland writes that land prices in Texas increased in 2006 by 18% over the previous year. That means that prices saw double-digit increases in each of the past four years.
Getting top-heavy? The article suggests otherwise. Here are some of the points Dr. Gilliland makes:
- Many people are paying cash for land, so there’s not the danger inherent in a highly leveraged market.
- Texas’ population is expected to increase by 16% in the next ten years, which means the demand for land (and prices) will increase as well.
- The population over 65 will increase, and many of those are increasingly well off and in the market for land to enjoy as a place to live and invest in.
- The Texas land market, while at record levels, is according to historical statistics not over-heated.
- Other parts of the country are seeing land prices much higher than Texas, and folks from other states are turning to Texas as a good place to invest!
Bradfield Properties’ experience in the Boerne area certainly confirms these findings. The beauty of the Texas Hill Country, the culture and quality of life here in the wide open spaces and the proximity to San Antonio combine to attract more and more people to Boerne, Texas, as the place to personally grow, raise kids and enjoy life!
