Affordable housing, Move to Texas

Affordable housing. Maybe you need to move to Texas if this is a problem.

I think you do. That is Shana Acquisto. She’s a luxury real estate broker. We’re based here in Frisco, Texas. And we’re going to talk about how affordable Texas homes are compared to the national average and how everything’s still doing great here.

And it’s still super affordable. So we’ll talk about that first. Then we’ll talk about the prices being super valuable and favorable here. We’ll talk about how price appreciation has been 10 percent or more and I believe 48 states over the last recent past. So it’s crazy that it’s up that much. Yeah, and some have been as much as 20 to 30 percent.

Yes. Can you guys guess which two states have had, you know, the least amount of growth,

A price appreciation, price appreciation for the same home? So we’re going to have a link for you and we’re going to share the screen and chat in some stuff and we’ll get a little interactive and kind of move around this map and show that off.

Ok, so that link’s going to be coming over to you. You’ll be able to find that in the description, and I’m going to borrow the mouse right now and move it around just a little bit and see what we can showoff here. Let’s see. Yeah, so this is a price appreciation. Ok?

Double digits are shown by anything that is in the darker blue. Mm hmm. Ok. And then under that is going to be the lighter blue. Right. So the two states North Dakota and yeah, ten point nine. So these are under 11 percent, right? So under 11 percent North Dakota and Louisiana. As far as price appreciation goes, the whole tax is above 10. That’s as low as it is anywhere.

Ok, so then as you start to look around, we set that as like the floor. And normally you’d see negative numbers in certain areas, but they’re all super positive. So what that means is, is everything is going up, everything across the country, then we can start to look at some specific numbers. So the state of Texas overall is at eighteen point nine, and it’s still very affordable

Here. And here’s where it becomes why it’s really affordable. So let’s look at some of your other kind of favorite states. The state of Montana, about twenty six percent. What so if you were in Montana, you would suddenly find that, relatively speaking, Texas is more affordable to move to than it was for Montana. The relative affordability? Yeah, between the two. Now I also point out, if you maybe are a Idaho. Is that what they would be? Yep. Thirty five point  

Eight% is continuing to climb like it is crazy there still. And we’ve talked to, you know, my family, my brother and his family live in Boise and we’ve talked to them. They’re both in real estate. So we know that isn’t that outrageous. Yeah, check California.

All right. So let’s take a look at California. So they are at 21.2% percent. So their prices, if we look at it before this, we’re way higher than Texas, and they’ve continued to gain more traction. So relatively speaking again, California coming to Dallas or to Texas, at the very least, it’s even more affordable than it was before. Yeah, on a relative index, you have to take in.

Remember that even though prices have one up here, where have they went up more and how much have we gained?

Yeah. And what were their prices to start with? Right. So if it was already on the cusp of being like way, not affordable cost of living and everything, just outrageous, then that could. Those are where we need to, you know, maybe visit.

Yeah, no. Exactly. Oregon up 20 percent, right? Nevada twenty three percent. Arizona twenty seven percent. So I think we compete a lot with Arizona and like the Scottsdale area, for people specifically like, where am I going to move if that’s the case?

So we are now way more affordable than Scottsdale. Relatively speaking again, yeah. So if businesses or anyone of those things are considering relocating, we’re going to be super affordable compared to their competitors. Yeah, OK.

And then if we went backup here in New York, went up as a state overall by sixteen point six percent up in the northeast, Vermont had a gain here New Hampshire, Maine, Massachusetts, Connecticut.

So these places are all up as well. Yeah, right in that same type of range and the more rural, the more they have increased in value.

So we see that space. Yeah, right. Oh, go back. Yes. Oh, that was Idaho. That was Idaho. Yeah, Wyoming up fourteen point nine percent. I don’t know why Wyoming is not performing as well as Montana or Idaho, Utah 30 percent. So that’s probably a lot of that’s park cities. Utah, Yeah. Yeah, Moab, Colorado. Ok, so these are areas where there seem to be more space.  

New Mexico go down to that.

New Mexico. Yeah, OK. Fifteen point seven percent. So they’re performing probably a lot better than I thought. You know, these these, you know, it’s really weird. So these are the beautiful flyover states. And these are just like flyover states.

I’m not sure in particular, but these ones here hadn’t performed as well. So it seems to be maybe the West Coast or is moving this way or people finding the mountains. Maybe that has something to do with it. I’m not sure. Yep, but these are real things and just looking relatively, you know, we’ve had I think we’re still super affordable.

So let’s go ahead and move on back to the screen here, and we’ll discuss it just a little bit more. All right. So as all those states are up that much. What things come to your mind and what things come to your minds as you’re sitting there listening as agents?

Yeah, I believe, you know, where can you go and have a great lifestyle and afford to live, right? You know, we hear the Bozeman area people are, you know, it is a college town too. And and people are really struggling with finding any, anywhere to live or to rent.

So, you know, and where we are, we see and feel the increases, right? But if you think about people coming from some of these other states, this is great. This is a great state. There’s things to do. The weather’s, you know, good and the prices are still affordable.

So yeah, so I’m super impressed. And when I first saw this, I was like, Oh, we’re not going to be affordable anymore. And then you had to change your mindset because here locally, we see prices going up and we’re like, Oh, must not be affordable anymore.

But the reality is, you have to consider compared to where other people are coming from, right? Right. And it’s still super affordable. So I think we’re going to continue to have all those same migration patterns. I think we’re going to still continue to win in corporate relocations and moving people here where there’s still tax advantage. Reasons for income.

Yeah. You know, with the no state income tax, it’s important for us to educate others, right? We can’t get in our own mindset that, oh, it’s so expensive here. You have to think as an agent, you know, look at the broad picture and a lot of these people who may call in or call you and talk about Texas, gosh, it is affordable and you can show them some stats and compare. I really like that map how you can.

Yeah, it was a good one. And I do think that, you know, you spoke recently about it, that everyone can’t live in the exact place that they want for the exact price. And sometimes there’s a commute that’s required. We were desensitized to the commute and we like it wasn’t a thing here. And you used to be able to live close to where you wanted to be. But now, as it’s becoming more dense and as these things are adding up, we’re not able to find the price and the location.

So now where you raised your children?

So it just changes a little bit. And now you might need to drive. And now Sherman and Denison in those areas become things. Salina is just exploding. So all of a sudden, we see these areas moving bigger than Frisco.

As a huge land mass area projection, yeah. So but you know, they can come here, people can come here and they can buy in the outskirts.

You know, we saw Little Elm Boom because people kind of got right outside of Frisco. It’s the same. And I think those areas, if you get in now, you’re kind of getting in at the ground level. We talked about that before and eventually you’re going to have a great investment.

So instead of renting at these high, higher prices to stay in a particular area, I would change that mindset and try to educate. We are advocates and we are somewhat educators. We need to educate home buyers on these types of things. Yeah.

You know, home ownership, I mean, I strongly encourage, even though, you know, it’s a little challenging right now and you have to you have to start broadening your your search.

You expand a bit. So in closing, don’t be blue over home prices. Don’t worry about it. Wow. We’re still super affordable here on a relative basis, even though.

Episode Links

New Mexico , Montana, Frisco, Texas, Affordable housing , Mike Acquisto , Shana Acquisto , TNT 

Episode Recorded Live on YouTube 01.19.22

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