Anyone been to Brownsville, Laredo, McAllen? (Mart: sale, houses, transfer)

[johnbenjaminmoore]

Can anyone explain the recent home sales trends in Hidalgo and Cameron Counties to me.

http://www.city-data.com/county/Hidalgo_County-TX.html
http://www.city-data.com/county/Cameron_County-TX.html

Home sales in Hidalgo County hovered between 400 and 600 per quarter in 2005 and 2006, before rising somewhat in 2007, and exploding in 2008. From 2008 to the first half of 2010, between 3650 and 5100 homes were sold each quarter, a nearly 10-fold increase from just 3 years earlier.

At the same time in Cameron County, 2005 and 2006 saw between 2400 and 3100 homes sold per quarter, and then a slow, but fairly steady decline through the first half of 2010, with a low of about 1200.

In other words, during 2005 and 2006, five to six times as many homes were being sold in Cameron County than in Hidalgo County. Then in 2007, there was a huge shift, and 2010 showed about four times as many homes being sold in Hidalgo County compared to Cameron County.

I wish I had a longer data set to look at, particularly because the U.S. housing crisis happened fairly close in time to the shift in trend, because I can't exactly make sense of these data.

Does anyone have any theories that could explain the shift? I would really appreciate it.

I'm moving to the RGV this summer to take a job in Harlingen, used to live in Brownsville, and want to understand what this trend means before I decide where to buy a home. Thanks.

As a P.S., the third quarter of 2010 showed sharp declines in both counties. Still, Hidalgo County saw 3 to 4 times as many homes sold in that quarter than Cameron County saw.

[ironmancoachjay]

Originally Posted by johnbenjaminmoore

Can anyone explain the recent home sales trends in Hidalgo and Cameron Counties to me.

http://www.city-data.com/county/Hidalgo_County-TX.html
http://www.city-data.com/county/Cameron_County-TX.html

Home sales in Hidalgo County hovered between 400 and 600 per quarter in 2005 and 2006, before rising somewhat in 2007, and exploding in 2008. From 2008 to the first half of 2010, between 3650 and 5100 homes were sold each quarter, a nearly 10-fold increase from just 3 years earlier.

At the same time in Cameron County, 2005 and 2006 saw between 2400 and 3100 homes sold per quarter, and then a slow, but fairly steady decline through the first half of 2010, with a low of about 1200.

In other words, during 2005 and 2006, five to six times as many homes were being sold in Cameron County than in Hidalgo County. Then in 2007, there was a huge shift, and 2010 showed about four times as many homes being sold in Hidalgo County compared to Cameron County.

I wish I had a longer data set to look at, particularly because the U.S. housing crisis happened fairly close in time to the shift in trend, because I can't exactly make sense of these data.

Does anyone have any theories that could explain the shift? I would really appreciate it.

I'm moving to the RGV this summer to take a job in Harlingen, used to live in Brownsville, and want to understand what this trend means before I decide where to buy a home. Thanks.

As a P.S., the third quarter of 2010 showed sharp declines in both counties. Still, Hidalgo County saw 3 to 4 times as many homes sold in that quarter than Cameron County saw.

Its a simple answer...the RGV is booming and a lot of Mexican elites are moving into the RGV to escape the issues in Mexico. They are coming in on EB5 visas and investing into the communities by mandate.

I will be moving form Louisville Kentucky this summer to work in and at some point, take over my father-in-laws business. There is a lot of business opportunity there. Search my user name and read the post I have about what I see in the RGV.

[AmberAzeneth]

The RGV is a great place.

[johnbenjaminmoore]

Originally Posted by ironmancoachjay

Its a simple answer...the RGV is booming and a lot of Mexican elites are moving into the RGV to escape the issues in Mexico. They are coming in on EB5 visas and investing into the communities by mandate.

I will be moving form Louisville Kentucky this summer to work in and at some point, take over my father-in-laws business. There is a lot of business opportunity there. Search my user name and read the post I have about what I see in the RGV.

I'm not sure that I entirely follow this. If you take the two counties together, the losses in Cameron County almost make up for the gains in Hidalgo County. And furthermore, the sharp increase came in one quarter, the first quarter of 2008, two years after Calderon started the narcoguerra. And there has been a steady decline since then. Also, McAllen didn't even apply for regional center status until this year. So why would investors invest $1M into McAllen to get permanent residency when they could invest $500K elsewhere? I understand the desire to live close to the border, but why invest close to the border, particularly when you could get the same immigration benefit for half the principal?

Anyway, I lived in Brownsville from 2006 to 2008, and there are several things I prefer about Brownsville over McAllen (resacas, proximity to SPI, old contacts), but McAllen has its own advantages (better economy, diversity). But it looks as though if I want my home to appreciate, I had better buy in McAllen. I just wonder if this is a blip, or a trend.

Anyway, how do you know about EB5s? You sound like someone I should get to know.

[shootertoo]

If you think you would like Brownsville, McAllen or Laredo you would hate Lubbock. Lubbock is not a good place to move to but nice for the people who grew up around there. I have relatives in that part of the state.
The Rio Grande Valley has grown into one gigantic metropolis and has all the big-city problems such as crime, traffic and pollution. Laredo is a nice, safe city although you have probably heard about the narcotraficante problems in Nuevo Laredo. I used to live part-time in the "Valley" as it's known and it used to be like paradise but like any nice place growth spoils it. Both the Valley and Laredo have great medical facilities so that shouldn't be a concern. I have lived all over Texas and if things were a little different in my life I would live somewhere such as Laredo, Corpus Christi or maybe the upper Rio Grande Valley such as Rio Grande City.

[lowviolette]

Laredo is not nice or safe, its is the armpit of Texas. i know, i live here...Corpus on the other hand is beautiful. Rio Grande city is the dope capital and corruption of So. Texas btw.

[ironmancoachjay]

Originally Posted by texan55

and what? american culture/society is the end all be all? the supreme society? no one should be any different?

what about the mormons in utah? the amish in pennsylvania? the creols in southern louisiana?

quit trying to control the world.

I am one of those "Creoles/Cajuns" form south Louisiana and I am happy to be moving to the RGV. I married a beautiful Mexican girl from Mcallen 10 years ago and I am looking forward to living there and being immersed in the strong family focused culture. Basically the only difference between the Cajun and Mexican culture is the language. Both cultures are very family focused.

Read my post with what I see in Mcallen and the RGV...

[texan55]

Originally Posted by ironmancoachjay

I am one of those "Creoles/Cajuns" form south Louisiana and I am happy to be moving to the RGV. I married a beautiful Mexican girl from Mcallen 10 years ago and I am looking forward to living there and being immersed in the strong family focused culture. Basically the only difference between the Cajun and Mexican culture is the language. Both cultures are very family focused.

Read my post with what I see in Mcallen and the RGV...

i was directing my statement to lowviolette

[ironmancoachjay]

Originally Posted by texan55

i was directing my statement to lowviolette

texan55 I am not upset nor do I take offence to your statement. I am also not trying to discredit your statement. I am simply stating that the cultures are a lot alike.

[johnrex62]

It has been many years since I have visited the RGV, although I have made many trips over a long period of time from the 70's through the 90's. In all of those visits I found the people and culture to be very friendly and hospitable. There is a different mentality in the area specific to a border culture. The US residents are very proud of their US identity and cherish it as much as their hispanic past. The Mexican citizens view the tourist as a mainstay of their economy and valued customers. As with any merchant relationship, the dollars are paramount and without them the tourist is only entertainment. The US side is an exploitable resource and is to be used and cultivated for future gain.

There is, however, a new and growing movement on the Mexican side that views the US side as less of a renewable resource and more of a short term resource and long term conquest. Their views are not as compatible with the majority of the Mexican citizenry, but is backed by money and drugs in their violent activities.

I do not have any first hand experience on this, but my impressions are not based on new stories but rather first hand accounts from people who have relocated to my area from the RGV. My daughter graduated High School recently and was strongly advised by a number of her peers to avoid any of the UT schools along the border region simply because of the criminal element moving into the northern Mexican region.

I believe there are many areas in many border towns that are still safe and quiet, but they are fewer and fewer each month or year. The mentality of the region has moved from a mixed heritage community to one at war with gangsters and unwilling to risk their own safety for a neighbor anylonger.