As Taylor Consulting, Inc. (TAYO) works to build a portfolio of prime assets through its new real estate division, Third Avenue Development Corp., the state of Texas is poised to lead the nation’s housing market recovery.
According to Zillow Real Estate Market Reports from the first quarter of 2014, almost 20 percent of U.S. metro housing markets have already surpassed their pre-recession peak values or are close to doing so—and values continue to rise.
Leading the way is Texas, whose four largest metro areas—Dallas-Ft. Worth, Houston, San Antonio and Austin—are all experiencing peak home values or are expected to peak in the next year. Austin led the Lone Star State’s top metros with a year-to-year rise in Zillow’s Home Value Index of 8.2 percent over last year. Dallas-Ft. Worth enjoyed a rise of seven percent.
“There is no better place to invest in real estate right now than in the state of Texas,” said TAYO CEO Scott Wheeler. “The recession is a distant memory here. An incredible influx of people drawn by the shale oil and gas boom is making property of all kind a hot commodity in the state.”
The explosive demand has left the supply of housing in Texas at its lowest level in nearly 20 years, setting the stage for potentially huge profits to be made by building, rehabilitating or upgrading existing single- and multi-family properties for rent or resale.
Third Avenue Development Corp. will focus on investing in potentially lucrative real estate assets to compete in a brisk market alongside American Homes 4 Rent (AMH), Silver Bay Realty Trust Corp. (SBY), Equity Residential (EQR), Essex Property Trust Inc. (ESS) and more.
For more information on Third Avenue Development, please visit www.ThirdAvenueDevelopment.com.
About Third Avenue Development Corp.
A division of Taylor Consulting, Inc. (TAYO), Third Avenue Development Corp. is building an emerging portfolio of real estate assets for rehabilitation and rent or resale. The company is focused on acquiring properties in the country’s top-performing housing markets in order to capitalize on the continued recovery and growth of the U.S. real estate marketplace.
Notice Regarding Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words “believes,” “expects,” “anticipate” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone’s past success, either financial or strategic, is no guarantee of success. This news release speaks as of the date first set forth above and the Company assumes no responsibility to update the information included herein for events occurring after the date hereof.
- Real Estate
- the state of Texas
Scott Wheeler, 713-840-6099
President and CEO