What to Look For in Houston Real Estate
It appears that Houston has been one of the few markets in
the country that has escaped to some extent the real estate
downturn seen in most of the rest of the country. Despite
the normal seasonal slowdown in real estate sales at the
end of summer, Houston remained ahead of 2005 in terms of
sales and pricing and its inventory of homes relative to
sales is still well below the 10 year average. This bodes
well for both buyers and sellers in the Houston market
The Houston real estate market is experiencing weakness but
it remains much better off than the national numbers that
have been reported and the numbers that are being forecast.
In major listing categories, Houston's overall housing
market has seen mixed results with increases in median
sales price and average sales price on a year-over-year
basis. However, a noteworthy decline is being seen in both
total property sales and total dollar volume. Total
year-to-date properties sales have been down but not too
significantly.
The sub-prime and foreclosure issues are still a drag on
prices and sales. Sales prices are holding up relatively
well, however, and the mortgage adjustments are working
through the system helping to create some stability in the
Houston home sales market.
To take advantage of the current real estate situation, you
should search out a realtor who has professional experience
in a wide variety of properties at different price points.
These professionals have the depth of experience to help
you determine what price range is right for you, what area
is appropriate and what the best strategy is for the sale
of your existing home if you are moving up to a larger home.
Establishing a relationship with an experienced realtor
will help to make the search for the right home much
easier. Real estate professionals make it their goal to
keep their finger on the pulse of the market in their area.
They know which areas are selling, which are steady, where
the best schools are and what the recreational activities
are in each area. Establishing your personal criteria with
a realtor will go a long way toward making your search for
the perfect home in the Houston area a simple job. In
summary, the Houston market is still a viable market for
both buyers and sellers. As always, the business community
is thriving which makes the Houston market even more
attractive.
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Adam Alford
President
http://www.newhoustonbuilders.com
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