Home Buying in Midland>Question Details

Tricia Rocka…, Real Estate Pro in Cypress, TX

how is the market in midland. I heard midland was booming, not enough homes for demand. I find that dificult to believe.

Asked by Tricia Rockawy, Cypress, TX Mon Mar 12, 2012

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HK’s answer
Guess I didn't exactly answer the question! Yes, we are seeing houses bought in less than a week. And for BEYOND asking price. This isn't the time to low-ball, that's for sure. They are going like hotcakes. You are competing with Oil Field workers who can bring home $10K a MONTH.
0 votes Thank Flag Link Thu Apr 19, 2012
Well, my home is on the market. I believe it will sell . . . school will be out soon. I am a former realtor, now living in Dallas, although have home in Midland. One thing I know for SURE. It is easier to finance a newer home than an older home. Multiple reasons--ask any lender. Permian Basin Real Estate is handling our home. Shana Curry--the best--can show it to you. YOU have a bit of a negative thought system . . . let's pray that real estate is the "in" thing right now. It is! There are nice listings and then there are listings.
0 votes Thank Flag Link Wed May 23, 2012
Hello, I live in Midland and have for over ten years now. Midland is in the beginning of a boom. But, the booms do always go "bust" at some point.

Regardless, Midland is a very easy place to live. Traffic is non-existent despite having over 100K people here. Even entry-level jobs allow you to live pleasantly WHEN the house price is appropriate. I feel the prices are high now and have been so for several years. It would be hard to live here with a high rent or house payment when the bust comes, if you don't have an okay job.

We bought at the "bottom of the bust" - meaning we got a 3 bedroom, 2 bath house with double garage and large lot in a very good neighborhood for $70,000. We can sell it for over double that now. But bear in mind that our Midland prices, though "high" historically for Midland, are lower than most areas. I don't think you'd be caught underwater by much even if the oil boom goes bust soon.

Property taxes are high compared to some states, but lower than many. Texas has no income tax, to help make up for that.

We are on severe water restrictions here. Midland takes great pride in gorgeous yards, and we are all sad to see our lawns and flowers die. We are trying to save the trees that are throughout the city. No one can know if the drought will "break" or not this year.

Midland is very church-oriented, but it has other niches too, such as the community theaters. The little community college is nice and offers more than you might think at first. The old-timers of Midland are very nice and polite and despite being a bit dull, it's the safest and friendliest place I've ever lived and I've lived all over.
0 votes Thank Flag Link Thu Apr 19, 2012
Based on my understanding GREAT, I had a client sell her home in less than 30 days full asking price.

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
0 votes Thank Flag Link Mon Mar 12, 2012
Midland has the lowest unemployment rate in the state and there are help wanted signs on every corner. Because of this robust climate, lots of people have moved into Midland to take advantage of our economic boom. The down side is the shortage of housing. As mentioned in a previous answer, be sure to get approved with a LOCAL lender before starting your house hunting. The time it takes to get your financing in order can mean the difference of purchasing the home of your dreams or settling for your second or third choice. I, too, would be happy to help you. 432-638-4074
0 votes Thank Flag Link Mon Mar 12, 2012
Yes, Midland is having a great economy. There are only 177 house for sale in Midland County. I would recommend you have an approval letter from a lender before attempting to look or make any offers on homes. If you need assistance with this, please feel free to contact me anytime. Thank you for your question. Ernesto G Calderon (432) 413-4347
0 votes Thank Flag Link Mon Mar 12, 2012
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