real estate

Public Domain

Millennials in Amarillo are buying homes at one of the fastest rates in the nation, according to a new study by the personal finance website SmartAsset.

In the site’s latest rankings of “Millennials and Homeownership,” Amarillo ranked 13th in the nation, tied with Oklahoma City.

In fact, HPPR States performed exceedingly well in general in the study, with Kansas, Oklahoma, Colorado and Texas cities making up seven of the top 14 cities on the list.

CC0 Creative Commons

The Lone Star State has been attracting droves of new Texans each year, newcomers who are attracted to the state’s low tax rates and plentiful sunshine. Meanwhile, Texas has a lower percentage of residents moving away than any other state.

Leaflet / Wikimedia Commons

Texas has more farms than any other state in the union. And now, as The Austin American-Statesman reports, the Lone Star State also leads the U.S. in number of farms owned by foreign entities. In the past 10  years, foreign companies and individuals have bought up almost two million acres of land in Texas.

The combined worth of all that land tops $3 billion dollars.

Jonathan Baker

Housing demand in Amarillo is outpacing supply, reports The Amarillo Globe-News.

Jinger White, the chairman of the Amarillo Association of Realtors, says the city has a lower inventory of available homes than he’s seen in his 15 years of selling homes in the Yellow City.

“If you’re selling,” he said, “it’s a good thing. If you’re buying, it’s a bad thing.”

Laura Buckman / New York Times

Texas is a place where wealth is often measured in acres instead of dollars. And for the past several decades, land prices have followed the price of oil. But oil prices have now collapsed from more than $100 a barrel 18 months ago, to a mere $29 a barrel. And The New York Times reports that some investors are seeing the oil bust as a real estate opportunity.

Area Homes Sell at Brisk Pace

Apr 27, 2015
Amarillo Globe News

Texas Panhandle towns experience their best first quarter in real-estate since before the recession in 2008.

Separate analyses of the Amarillo Association of Realtors Multiple Listing Service data shows that single-family home sales are up 12.5 percent to 14.7 percent, when compared with results from the first quarter of 2014.

Luke Runyon / KUNC and Harvest Public Media

The showing starts inside an empty office building, the kind you’d see in any humdrum workplace sitcom, stripped of its cubicles and ceiling tiles, leaving just a bare, dusty shell.

Jason Thomas with Avalon Realty Advisors, a commercial real estate firm that deals with the marijuana industry’s entrepreneurs, shows off the building’s features: a fully operational HVAC system, fire sprinklers, heavy duty warehouse doors, equipped with locks.

It’s a blank slate for a marijuana grower, ready to be outfitted with thousands of lights and complex water delivery systems.