Investing in a New Home in the Lone Star State – The Sublime State of Texas

Texas has been cited as a forerunner in the ongoing economic recovery and a solid location for investment in retirement and second home communities.  Located in Texas’ famed Hill Country, both San Antonio and Austin have become well known for abundant opportunities to purchase second homes and retirement homes in an upscale recreationally-oriented environment.  Private communities that personify this perception include Cordillera Ranch, a multi-recreation community located in Boerne, a suburb of San Antonio. The 8,700-acre private community exemplifies the active adult lifestyle, boasting seven different club opportunities featuring golf, tennis and swim, equestrian, hunting and fishing, health and fitness and water sports.  With regard to size, First Mountain on Canyon Lake represents the opposite end of the housing spectrum. At just 90 acres and fewer than 50 homes, this intimate enclave is situated on the 8,300-acre Canyon Lake, aka, the “Water Recreational Capital of Texas.” Conveniently nestled between San Antonio and Austin, First Mountain on Canyon Lake is located on its own private mountain and is endowed with some of the most panoramic vistas of the Texas Hill Country.  Ancillary amenities include a resort-style swim facility, miles of walking trails and access to the Guadalupe River by way of Canyon Lake, two full-service marinas and Canyon Lake Golf Club.

Canyon Lake

According to Allied Van Lines’ 42^nd Annual Magnet States Report, more individuals and families chose to settle deep in the heart of Texas than anywhere else in the US in 2009.  This is Texas’ fifth consecutive year outpacing every other state, and based on recent achievements and projections, the recognition appears well deserved. Texas added 50,000 new jobs in the 4^th quarter of 2009, and projections for 2010 call for continued job growth in several of the state’s larger markets. San Antonio is expected to add 22,000 jobs in 2010 and Austin is projected to expand local payrolls with the addition of 19,000 payroll positions. On the housing front, Austin area homes sales jumped 5% in January 2010, and the median price was up 1% to $179,250. Statewide, housing inventory fell approximately 5% in January. Both conditions suggest that now may just be the time to buy.