We love bringing you an insider look at hot West Texas properties, and this week we are featuring three fabulous bargain buy open houses you shouldn’t miss. With two in Midland and one in Odessa, the houses range in price from $167,00 to $844,900. Let us know what you think of our choices. (more…)

Odessa luxury homes

Odessa houses in the half-million-dollar range offer a range of high-end amenities, from new Venetian plaster walls to acreage with horse stalls. We’ve picked out four listings to give you an idea of what $500K buys in Odessa now.

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midland-odessa real estateThe reports are in for August and it’s not just the temperatures that are hot, hot, hot in Midland-Odessa. The real estate market is ranking among the top performing in the nation.

Realtor.com listed Midland as the No. 8 market in the country—check out their graph below. 20-Hottest-Markets

They summed up these ten markets:

“This year we are seeing inventory continue to grow in August, and while overall demand is strong, the trend in median days on market is suggesting that the market is finding more of a balance,” concluded [Realtor.com chief economist Jonathan] Smoke. “This bodes well for would-be buyers who have been discouraged by the inability to find a home to buy this spring and summer.”

The recent stock market correction could offer benefits to prospective buyers. “A temporary drop in demand by those negatively affected by stock market instability might be just what strained would-be buyers need to gain the advantage in a market that has given sellers the upper hand so far this year,” said Smoke, adding that postponement by the Fed due to the market correction could extend accessibility of attractively low mortgage rates.

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U.S. Rep. Mike Conaway wants to repeal the 40-year ban on American oil exports.

U.S. Rep. Mike Conaway wants to repeal the 40-year ban on American oil exports. (Photo: Texas Tribune)

Representatives in both the Texas house and in Washington want to end the 40-year ban on U.S. oil exports, a policy developed in the 70s in response to the wildly fluctuating energy market. However, some elected officials feel that policy is outdated and is slowing America’s economic growth. Considering low oil prices and the price per gallon of gasoline just now reaching more that $2.50 since its precipitous decline last fall, Midland and Odessa could certainly benefit from an expanded oil and gas market.

U.S. Rep. Mike Conaway (R-Midland) with U.S. Rep. Henry Cuellar (D-Laredo) have filed HR 2369, the Energy Supply and Distribution Act, according to the Midland Reporter-Telegram. It’s a bill that would do away with the ban on oil and gas exports. An Alaskan Senator has filed a companion bill that will do the same.

Oil and gas firms pretty much unanimously support the legislation, and a Texas Senate resolution gives a resounding “amen” to the proposed repeal, too.

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