Welcome To Houston

If you are a home buyer in the Greater Houston area, regardless of price point, I wish you the best of luck in securing the real estate of your desires. In this market you will not only need luck, but you'll need excellent timing and a well-planned strategy to maximize your chances of securing the home of your dreams. In case you are new to the city of Houston, or new to the state of Texas, the Houston real estate market is experiencing growth like never before - literally. Per the U.S. census data, Houston was the second fastest growing city in America. https://www.bizjournals.com/houston/morning_call/2014/05/houston-the-second-fastest-growing-city-in-the-u-s.html Why is this important? It is important because the Houston area is essentially facing a housing shortage, and this has impacted prices as well as how quickly a home sells once it is put up for sale, commonly referred by Realtors as a listing. In the month of June, the city broke two records since data has been collected; the average and median price of homes in the Greater Houston area reached an all-time high - $283,000 and $214,000, respectively. (https://www.har.com/mls/dispPressRelease.cfm). If you are a seller, you are likely to enjoy multiple offers on your home, and at times, may even experience an offer above asking price. On the other hand, if you are a buyer, you are most probably experiencing angst like never before. I wish I could say to the present and future buyers that the situation will improve markedly, but I can’t in good faith make such a statement. The paradox of real estate, at least in Houston, is that low interest rates (currently in the low 4% territory) may actually contribute to the historic low inventory we are facing of late. https://realtormag.realtor.org/daily-news/2014/07/14/why-low-rates-arent-always-good-for-housing?om_rid=AADS2h&om_mid=_BTxCGtB87N9-7C&om_ntype=RMODaily. I definitely think there is some truth to this argument, however I believe with a little patience, the low interest rate is a person’s one saving grace.