What is happening on the Houston real estate scene? I am seeing sites with more listings, but Realtors for the most part are discussing movies and road trips on local blogs. There are a few blogs touting that the Houston real estate market as a great one for investment, but these seem to be taking the party line that has already been said before. The Houston Association of Realtors has released some disappointing sales figures, which was to be expected, with the bright spot still being median home prices in Houston continue to rise. Maybe this weekend’s Realtor Expo will inspire some Realtors to go out and convince the public to buy a home (then maybe I can work more).
Business is slower for me, but I have been inspecting foreclosures that investors or families want to purchase, so I have kept busy enough (not bad, but not great).When looking for views on the real estate market this week in blogs, I did not find much, but there were two interesting posts that I think may prove useful for investors and home buyers alike.
Aimee Hess is a real estate attorney who posted this eight point summary of the criteria for a real estate recovery presented by Dr. Mark Dotzour. Ms. Hess’ post is a good primer on what needs to happen in the market, but she also provides a link for those wanting more information.
The Balthorpe Group released this information about Texas apartment construction. If you wish to find out about the Houston market, scroll down the page. For me this is interesting since it implies that many are turning towards apartment living instead of home ownership. I can only say that I have not witnessed new construction for apartments beginning, but I have seen projects coming to completion. The slow down in residential building is not taking place in this commercial sector based on my driving around town.
Hopefully next week there will be more blog posts that actually provide good information on Houston real estate.