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Old 08-03-2014, 12:00 AM
 
1,916 posts, read 3,246,778 times
Reputation: 1589

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Quote:
Originally Posted by TDAlmighty View Post
Wow! That completely blows my mind that people would be that confident that prices will continue to rise to go through all that trouble, expense, and take so much risk with renters. Hopefully they are right!
Even if prices are stagnant from this point forward, rising interest rates alone will price these owners out, especially if they worked really hard to be in a area they like and have 3% fixed on a 30 year. Even if they're not priced out, it would be much more expensive to own the same thing with the higher interest rates, not to mention the stress of waiting for acceptable house to be available on market and going through another bidding war.

Yes there is risk in renting, but is much less than paying $300K more in interest over the life of ownership due to combination of higher house price and higher interest rates.
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Old 08-03-2014, 01:22 AM
 
Location: Memorial Villages
1,515 posts, read 1,799,122 times
Reputation: 1697
Even if prices don't spike dramatically, and if interest rates stay stable, selling a house now with the expectation of buying one in 2-3 years means that you'll be paying closing costs going and coming. That tips the balance in favor of renting your place out, especially if you love the house and neighborhood and aren't especially interested in upgrading or trying a different part of town when you move back.
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Old 08-03-2014, 11:05 AM
 
6,720 posts, read 8,401,621 times
Reputation: 10409
A lot of Houstonians in the Oil and Gas industry may move away for just a few years, but will be back due to Houston being a hub. The companies pay for your living expenses overseas, so you just rent your house out if you love it. Especially if you have low interest rates or if you bought it before prices started rising.
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Old 08-03-2014, 11:43 AM
 
1,916 posts, read 3,246,778 times
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Quote:
Originally Posted by Meyerland View Post
A lot of Houstonians in the Oil and Gas industry may move away for just a few years, but will be back due to Houston being a hub. The companies pay for your living expenses overseas, so you just rent your house out if you love it. Especially if you have low interest rates or if you bought it before prices started rising.
This^ Plus renting house out is better than keeping house vacant for that time.
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Old 08-05-2014, 02:44 PM
 
15 posts, read 26,105 times
Reputation: 24
Advisory: The Best-Selling Master-Planned Communities Mid-Year 2014 Update
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Old 08-05-2014, 02:58 PM
 
Location: Friendswood, TX
61 posts, read 127,850 times
Reputation: 63
Wow, 9 of the top 20 are in Houston.
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Old 05-10-2015, 05:39 AM
 
18,137 posts, read 25,321,890 times
Reputation: 16851
2015 doesn't seem any better
We are in May and my area in North Houston seems like 50% of the houses in my price range are pending.

Thankfully I found a perfect house (same day it got listed) and made an offer and was accepted in less than a week.
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Old 05-10-2015, 02:12 PM
 
3,276 posts, read 7,849,941 times
Reputation: 8308
Yeah, houses are selling like crazy around here. I was looking at a small house that had been listed for all of 3 days.

When I called the real estate agent for a showing, the seller had just accepted an offer from someone else.

That evening I looked at a different house on har.com and the next day I went to check on it again and it had a pending status. It's nuts.

Fortunately, there's a guy I know personally who is considering selling his home so I may just buy it from him.
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Old 05-10-2015, 02:47 PM
 
26 posts, read 47,668 times
Reputation: 31
Rose-Rich / Sugar Land area here... seeing new subdivisions going up left and right. Only a few days after new roads are paved, new lots are being marked, and "SOLD" signs are popping up, being put in even before the "Available" signs have a chance for their day in the sun. Gotta be really quick on the draw. Wacky.
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Old 05-10-2015, 03:52 PM
 
331 posts, read 488,134 times
Reputation: 351
Quote:
Originally Posted by kbayer View Post
Rose-Rich / Sugar Land area here... seeing new subdivisions going up left and right. Only a few days after new roads are paved, new lots are being marked, and "SOLD" signs are popping up, being put in even before the "Available" signs have a chance for their day in the sun. Gotta be really quick on the draw. Wacky.
What part of that area are you in? They are building and selling homes like crazy around brazos town center area (59 & 762/reading). People are getting priced out of sugar land, and that area is shooting up in price as well as a result. 59 / I-69 improvements are going to help that area as well.
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