How Port Aransas Luxury Real Estate is Built to Withstand Storms
by Cinnamon Shore
on Wednesday, December 12th, 2018 at 11:04pm.
Cinnamon Shore is in the news!
Bloomberg Television interviewed our very own Jeff Lamkin, developer of Cinnamon Shore and CEO of Sea Oats Group, about how our community fared well during Hurricane Harvey as well as how it’s prepared for storms to come.
Lamkin says that thanks to modern-day building codes and the quality construction at Cinnamon Shore, the community survived practically unscathed. He’s more confident than ever that homes here can stand up to future storms, too. “Our highest sales have happened since [Harvey] and our sales volume has increased because people are able to see what withstood the storm and what’s still standing,” Lamkin says.
Where they’re buying: - 33% of vacationer buyers buy at the beach
How they make the purchase: - 42% of investment buyers and 39% of vacations buyers pay with cash
What they’ll do with the property: - 49% plan to use the home as a family destination - 45% plan to generate income through renting the vacation home (instead of trying to profit through “flipping” it) - 72% say now is a good time to buy
The Texas Economy: Bigger and Better and Full of Investment Potential
We were excited to see a recent Forbes article that pointed out how robust and brimming with investment potential the Texas economy is. The writer points out that “CNBC recently named the $1.6 trillion economy the best state for business in 2018” and goes on to list six reasons he believes Texas’ economy trumps all other U.S. economies. Here’s a summary:
#1. Texas’ Manufacturing Output
The article cites data from the Federal Reserve Bank of Dallas that says Texas’ total manufacturing output was $226.16 billion, or about 10 percent of total U.S. manufacturing goods.
#2. Texas is the largest exporter in the U.S. It’s responsible for almost 20 percent of total U.S. exports.
#3. Texans have the fasted personal income growth.
For the second quarter, Texas workers has a 6% growth in personal income, compared to 4.2% growth for the average American, according to the U.S. Bureau of Economic Analysis (BEA).
#4. Texas has a secret weapon underground.
You guessed it: oil. Forbes calls the Lone Star State “a global oil superpower,” noting that it’s the No. 1 oil producer in the U.S. responsible for producing 40% of the country’s oil. The whole state economy benefits.
#5. Texas has attracted new residents in droves.
The U.S. Census Bureau shows that four of the Top 10 fastest growing cities by population are in Texas, with San Antonio at No. 1. Fastest-growing cities in terms of percent change see five Texas cities in the top 10, including the top three: Frisco, New Braunfels, and Pflugerville.
#6. All those Texas residents want houses.
"With housing demand high, Texas median home prices hover at record highs," says Forbes.
Once all these new Texans settle somewhere in the Lone Star State, they may just want a vacation home, too. Whether you’re from Texas or new to the Lone Star State, all this news about better building practices, positive real estate climate for vacation buyers, and our strong Texas economy should give you confidence about buying here on the Texas Coast.
We’d love to talk to you about what we have to offer at Cinnamon Shore North and about our new community that’s just breaking ground, Cinnamon Shore South. Give us a call today at 361-749-1851 to learn more about our available properties or to schedule a property tour.