Land in West Texas
Forbes Magazine recently listed the fastest-growing small towns in America, and Pecos, located in West Texas, was listed as the second fastest-growing small town. This disclosure would come as no surprise to anyone trying to find an available motel room anywhere within 50 miles of Pecos. Motels are running at a 100% occupancy rate, despite the fact that there have been four new motels and hotels recently constructed. As a result, prices for land in West Texas have also risen substantially.
While oil and gas exploration and production has triggered the boom, there are signs of increasing prosperity everywhere. Agricultural and cattle prices are strong, there is new construction activity, auto sales have increased, and banks have more money to loan.
Loving County is even building a new annex to its historic courthouse that was built in 1935, and added to the National Registry of Historic Places in 2006. This new construction displays strong confidence in the financial future of the area because Loving County contains less than 80 registered voters in the entire county.
Properties in the far western counties of Hudspeth, Culberson, Jeff Davis, Presidio, Brewster, Reeves, and Loving have always been among the lowest-priced real estate in Texas and can offer exceptional investment opportunities. Buying land in more populous urban areas for $10,000 per acre and hoping that it increases to $20,000 per acre might be an unwise strategy in today’s economy. But acquiring a nice tract of land in West Texas for $750 per acre and seeing it increase to $1,500 per acre could be a more achievable proposition.
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