Oil Crisis Creates Short Term Opportunity on LBJ
We have all seen the price of gas at the pump and have heard about the sharp decline in oil prices and the expectation for a negative effect on the Texas economy. While I do believe that this down turn in the oil market will have some negative effects on some parts of Texas, I believe that it is creating opportunities for Lake LBJ Real Estate.
Overall the economy in Texas is very strong, partially from the benefits of a booming oil industry over the last few years but also because of other sectors as well including technology, real estate, construction, and medical to name a few. While the lower oil prices may keep a few big money buyers and also some lower price point buyers that are tied to or work in the oil fields on the fence, we will also see some good listings come online and motivated sellers. Many properties owners at Lake LBJ have historically been involved in the oil industry and when things get tight, vacation homes are the first to go.
The flip side is that there are still some great, high paying jobs and healthy local economies in surrounding cities such as Austin and San Antonio. Potential buyers are also feeling the benefits of low gas prices putting more in their pockets. Historically low interest rates also push people to invest their cash and not keep it in the bank and also provide for very low holding costs for financed real estate. When you combine these factors its pretty easy to understand why people will still continue to buy real estate but also why property owners, that are tied to the oil industry, may get motivated.
If you are interested in pursuing waterfront homes on Lake LBJ and taking advantage of the current market conditions, contact me today at (512) 786-1515