Texas improved its position on Forbes' Best States for Business this year.
The Lone Star State ranked 8th on this year's list, up from 9th in 2008.
The magazine ranks all 50 states based on costs, labor supply, regulatory environment, current economic climate, growth prospects and quality of life.
Business costs, which include labor, energy and taxes are weighted the most heavily.
Texas ranks No. 1 in the land for overall economic climate and third for growth potential. But the state ranked fairly low (39th) for quality of life and was 29th when it comes to cost of doing business.
Virginia garnered the top spot for the best business climate in the country for the fourth straight year. Virginia is the only state ranked in the top 20 in each of the six categories, and its $325 billion economy is expected to be the 10th largest in the U.S. in 2009.
Rhode Island ranked last on the list with the worst regulatory environment and high costs of business.
For more austin real estate information, visit us at http://www.RomeoM.com
Friday, September 25, 2009
Friday, September 11, 2009
Predictions for Austin Texas Real Estate Home Values
· The rest of 2009 and the first half of 2010 will see continued lower than average sales volume and stagnant but generally stabilized prices. Foreclosures will continue to put downward pressure on prices of property in lower income areas. Owners in these areas may want to "get out now". But most owners should hang tight, especially if they're receiving cash flow neutral or cash flow positive results. Those with toxic loans should absolutely renegotiate with their lenders.
· Though demand will return in the second half of 2010 as lenders become more realistic with their lending standards and investors realize the worst of the panic is over, there will be a lot of new "pent up" inventory from sellers who were waiting out the market downturn. I am aware of hundreds if not thousands of sellers that will put their property on the market once they feel values are on the rise again. This phenomenon will probably keep values going up only modestly for another year or more.
· Based on current growth trends (Austin's continued low unemployment and net migration) and availability of housing, we will see a return to strong growth in 2012, and will hopefully enjoy another two or three year "boom", though not as remarkable as that we saw from 2005 through 2007. Fed monetary policy has probably put an end to the remarkable real estate bubbles for this generation.
For more information, please visit my website at http://www.RomeoM.com
· Though demand will return in the second half of 2010 as lenders become more realistic with their lending standards and investors realize the worst of the panic is over, there will be a lot of new "pent up" inventory from sellers who were waiting out the market downturn. I am aware of hundreds if not thousands of sellers that will put their property on the market once they feel values are on the rise again. This phenomenon will probably keep values going up only modestly for another year or more.
· Based on current growth trends (Austin's continued low unemployment and net migration) and availability of housing, we will see a return to strong growth in 2012, and will hopefully enjoy another two or three year "boom", though not as remarkable as that we saw from 2005 through 2007. Fed monetary policy has probably put an end to the remarkable real estate bubbles for this generation.
For more information, please visit my website at http://www.RomeoM.com
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