Commercial Real Estate in Texas looking grim ~ Pinoy Reviews

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Wednesday, December 17, 2008

Commercial Real Estate in Texas looking grim

Looks like bad news for property investors living in Texas. According to BizJournal not only does commercial real estate foreclosures in Central Texas jumped to 60 percent in 2008, analysts also predicted that North Texas real estate investment will bottom out in 2009.

This means that Austin Real Estate owners and developers would most likely be affected. The bulk in the rise of commercial foreclosures were due to the 410 foreclosure postings reported compared with the 256 figure compared with last year. The rise in commercial foreclosures resulted in the grim forecast for commercial real estate development for 2009.

Leander Texas real estate values are also affected but for those thinking of relocating to Texas, this could be good news as property values are lower.

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