REAL ESTATE SALES - ARE WE PAYING TOO CLOSE ATTENTION TO THE WAY SALES “BOB UP AND DOWN”? FREDERICKSBURG TEXAS JANUARY & FEBRUARY 2009 RESULTS

REAL ESTATE SALES - ARE WE PAYING TOO CLOSE ATTENTION TO THE WAY SALES “BOB UP AND DOWN”? FREDERICKSBURG TEXAS JANUARY & FEBRUARY 2009 RESULTS

March 4th, 2009 categories: Assessing the Local Market

President Barack Obama said on Tuesday that paying too close attention to how Wall Street “bobs up and down” could lead to bad long-term policy. “What I’m looking at is not the day-to-day gyrations of the stock market, but the long-term ability of the United States … to regain its footing.”

The same may be true when looking at real estate sales in Fredericksburg, Texas which were WAY down in January and February … just 33% of the previous year’s figures*. Sounds horrible? Should you run from this market?

It would seem to be a paradox … but Fredericksburg actually is thriving this year!

Pass through the town any day of the week, especially on weekends and you’ll see a city that is booming. Tourists galore!

Doesn’t quite fit with the real estate numbers? Well, go figure!

What we are hearing from the retailers in Fredericksburg is that sales are up! More people! And they’re still spending!

What’s happening is that, instead of taking trips to Europe, the Carribean, and other exotic places, people in Texas are taking small trips within the state … and Fredericksburg, still characterized by its German heritage, is a huge draw to the local tourists. Close to Austin, within driving distance of Dallas and Houston, and “smack dab in the middle of the Texas Hill Country,” people are taki