Since the mortgage crisis of 2008, real estate is still,
generally speaking, a challenging field across the USA. But real estate is a field that must
be gauged region by region, and in some cases, neighborhood by neighborhood. At
the micro level, something as simple as the quality of the local high school
will determine the sell-ability of a home, just as much as local economic
dynamics usually do.
I am fortunate to live in an area that is experiencing an
economic boon. I am a real estate broker in Montgomery County, Texas, and it is
worthwhile to investigate what makes Montgomery County’s economy so vibrant,
and why in particular the Woodlands real estate market
here is so hot right now, to see how this can be emulated in other areas.
Texas is Business-Friendly
No question, Texas is friendly to business. An income tax –free
state, it is no wonder that approximately 2,000 people are right now getting
ready to relocate from Akron, Ohio and Fairfax, Virginia to The Woodlands,
Texas. No wonder because Exxon Mobile has invested in relocating its main
headquarters to a campus North of Houston and just south of The Woodlands.
Likewise, Layne Christensen, a drilling company employing about 5,000 people
worldwide, is moving its headquarters from Mission Woods, Kansas to The
Woodlands. The projected completion of their move is end of 2013. The reason
they cite for their decision to move to Montgomery County? Rene Robichaud,
President and Chief Executive Officer of Layne replies, “Houston provides
enhanced access to some of the nation's leading energy companies, an important
consideration as we build our total water management solutions business for the
oil & gas industry. Our new consolidated headquarters also offers an
attractive platform for expansion, while Houston provides a number of
advantages associated with its rank as the fourth-largest city in the nation.”
Clearly, Texas is ideal for both of these companies because they are players in
the energy-producing industry, and Texas is friendly to energy businesses. As a
result, jobs in The Woodlands TX is also very high.
But these companies could have moved to other areas besides The Woodlands. What makes The Woodlands
so special?
The Advantage of Planned Communities in Strategic Locations.
The Woodlands is a master-planned community with “villages”
that offer localized neighborhoods with homes in specific price ranges. The
Village of Panther Creek offers homes from low $100s, while Carlton Woods
offers homes typically $1 million on up. No matter which neighborhood you live
in, there are local shopping centers,
banks, fuel stations, professional offices, an abundance of walking paths,
playgrounds, parks, water features, and trees, trees, trees. It is a remarkably
well-kept natural setting, and so for the average family it is an ideal neighborhood
environment. The schools are all maintained with excellent ratings. The
Woodlands Corporation also maintains year-round festivals, and the Pavillion is
a local venue for some of the biggest concert tours every year. Of course, being
in such close proximity to Houston also allows easy access to plenty of other cultural
events. And Houston does possess a world-class opera company, and the Houston
Ballet Foundation is the fourth largest professional ballet company in the USA.
If you are trying to attract the industrious and upwardly-mobile, this would be
the kind of environmental dynamics that would be very appealing. And, where the
industrious and upwardly-mobile people go, productivity also tends to go.
The Only Problem: The Wodlands Real Estate Inventory
HAR.com (Houston Area Realtors’ website) reports that home
inventory for the Greater Houston Area is a mere 4.4 months (according to their
November 2012 evaluation). Likewise, homes for sale in
The Woodlands TX inventory is even lower. Some buyers may have a hard
time finding a good property selection in 2013, but luckily there are many
planned communities in development all around The Woodlands. Woodforest, for
instance, is an up-and-coming area, and is in extremely close proximity to The
Woodlands and all of its job opportunities and amenities.
As a real estate broker in Montgomery County, it is exciting
to see all the growth and prosperity. It is also my pleasure to help families
looking to relocate to Montgomery County.
Even when inventory is low, there is always a way to find the perfect
home!
