McAllen’s residential median sale price has experienced a $4K increase since 2006 reaching $131K. McAllen has been considered one of the top cities for investing because of its strong appreciation potential in the coming years. This area has been selected by CNNMoney.com as the number 1 real estate market in the country for 2007.

According to an index compiled by the Dallas Fed that tracks employment, wages, retail sales and unemployment, the McAllen area has the border’s fastest growing economy. NAFTA dividends, International Trade and Low Cost of living have contributed to the area's appeal. The area's young demographics are also of interest for businesses looking towards the Rio Grande Valley as an area for investment.

Property values on the Texas Coast have not been over inflated and as a result did not fall victim to the bubble boom that other coastal markets experienced. Two factors that have determined how strong the real estate market is in a particular area are: population growth and local economy.

Texas Coast is an area of strong demographic growth

Texas is one of three states dominating population growth, and will account for nearly half of total U.S. population growth (46%) in the next 25 years along with Florida and California.

Projections show that the top three states will gain 12 million people each by 2030 and most (88%) of the nation’s population growth will occur in the South and West. The top five fastest-growing states in the next 25 years are projected to be: Nevada (114%), Arizona (109%), Florida (80%), Texas (60%), and Utah (56%).

The Texas Coast has a strong, growing, and diverse economy

Do not follow growth, anticipate growth. A growing local economy is the most important driving force behind property values.

According to the Texas Real Estate Center: The Texas economy continues to surpass the rest of the nation in employment growth rate and job creation.

Texas ranks 12th among all states in personal growth income which is a factor closely related to total economic output. A higher-than-national-average growth rate means the state's economy is growing, and growing strongly.

“Despite the national slowdown, Texas is still strong,” says James Gaines, Ph.D., research economist with the Real Estate Center at Texas A&M University. “There’s no reason prices shouldn't continue to rise despite the increase in foreclosures and the slowdown in transactions, construction, and new-home starts.”

Interest in McAllen comes from surrounding areas within the Rio Grande Valley as well as San Antonio, Houston and Dallas.
	On the national level interest to the McAllen area mainly comes from California and Florida where investors are looking towards their next money-earning opportunity.

Homeland Security Spending Contributes To The Area's Economic Development

The influx of money from the $3billion approved for Homeland Security will impact McAllen's economy in several ways. The job growth potential comes from not only the public sector but the technology sector as well. Many people will be relocating to the area to fulfill the jobs that will be generated.

The real estate market will see an increase of demand from not only those relocating but from the current residents whose income will increase from the new jobs in the area. The effect of trickle down economics will help boost the overall local economy which means the retail and service sector will see an increase as well.

Business 2.0 magazine ranks the top 10 cities for buying property now. Experts say that while these locales may not be immune to the current housing malaise, eventually property values in these places, for a variety of reasons, are likely to zoom. McAllen was ranked # 5 among the top 10. A Hispanic baby boom and rising incomes are driving demand for bigger homes.

Much of the McAllen-Edinburg-Mission MSA's success derives from its geographical and cultural link with Mexico. Thirty miles south of McAllen is Reynosa, Mexico, with a population of more than 750,000. The North American Free Trade Agreement (NAFTA) and the international bridge between McAllen and Reynosa make the two cities' economies dependent on each other for growth.

McAllen is already considered the "Jewel in the Valley Crown." During the past two decades, this area has made bold advances, with unprecedented growth in both population and industrial attraction. The news of the $3 billion means that McAllen will continue to prosper and continue to rate among the fastest growing metropolitan areas in the nation.

Read Our Predictions About The Texas Gulf Coast Real Estate Market!

Comparative Market Analysis Sample

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• Sales Analysis
• Time-On-Market Analysis
• Buyer Preference Analysis
• Sales vs. New Listings Analysis
• New Listings Analysis
• Comparative Market Analysis

A comparative market analysis is an informal assessment of a property's market value, usually done to establish a reasonable listing price when a property is placed for sale. The price is established by comparing the property to similar properties that have sold in the area within the past year.

The analysis is normally done by a real estate agent who has easy access to area sales records. We have given registered users the ability to generate their own Comparative Market Analysis (CMA) based on data relevant to their own properties.

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