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Old 07-10-2015, 03:20 PM
 
17 posts, read 25,737 times
Reputation: 16

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Report: Texas at some risk for home price declines - Prime Property

any thoughts on this?
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Old 07-10-2015, 08:34 PM
 
18,130 posts, read 25,278,015 times
Reputation: 16835
it's all about jobs
no jobs = house prices go down
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Old 07-10-2015, 09:47 PM
 
Location: Katy, TX
214 posts, read 307,082 times
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I just posted about the Katy market...I have fears that new home prices got so high (130 + sq/ft), that a lot of people will lose a lot of money as prices fall back to pre-boom levels (~90 - 110 sq/ft).
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Old 07-11-2015, 06:22 AM
 
331 posts, read 487,255 times
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It's all location specific. If you're in a good area/location with things besides the hot market of a year ago to make it valuable in the long term (i.e., master planned community with amenities, architectural controls, etc.), you'll be fine. If you're in a box that got thrown up in the middle of nowhere just to meet the scorching demand for housing, you'll see some stagnation in your market. Either way, things are generally never as good or as bad as they seem. Have a long term outlook and you'll be fine. If you bought a house to make a profit in 1-2 yrs (particularly in the suburbs), you were doomed to begin with.
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Old 07-11-2015, 06:46 AM
 
958 posts, read 2,573,626 times
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Quote:
Originally Posted by Zoo2000 View Post
I just posted about the Katy market...I have fears that new home prices got so high (130 + sq/ft), that a lot of people will lose a lot of money as prices fall back to pre-boom levels (~90 - 110 sq/ft).
If/when a decline happens I don't think it'll be that dramatic of a drop.

While I do think we'll eventually see a stagnation or even decline in prices, I don't think it'll be in the 20-30% area. Maybe closer to a 10% decline in Katy specifically.
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Old 07-11-2015, 10:15 AM
 
17 posts, read 25,737 times
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Hopefully the woodlands particularly the newer section of Creekside park will fare the decline well where prices went up $100k-$130k in 2 years.We are closing on a property here in few weeks at $137/sw ft 2010 built. All these news of decline are making me cold feet.
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Old 07-12-2015, 03:36 PM
 
Location: Non Extradition Country
2,165 posts, read 3,772,382 times
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Houston is very over valued and over hyped city.
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Old 07-13-2015, 10:52 AM
 
Location: Hell's Kitchen, NYC
2,271 posts, read 5,146,753 times
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I think this is related to zoning -- in one way, we're protected because investors/builders aren't going to build things they dont think will be profitable. However, if we experience a boom, there's a sudden rush to build these types of properties and little obstacle in their way. Have you noticed how there are all these luxury/upscale apartment complexes? My friend just showed me the Susanne which is over on West Alabama -- it opened recently. Apparently, most of these apartments are tiny and all have wine cellars. I keep wondering who the heck is going to move into tiny little places these.
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Old 07-13-2015, 12:26 PM
 
45 posts, read 93,458 times
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I know there have been some correction (slowly) throughout Houston and suburbs. When do every think we will go back close to the pre-boom valuation?
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Old 07-13-2015, 01:02 PM
 
Location: The Greater Houston Metro Area
9,053 posts, read 17,195,821 times
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Quote:
Originally Posted by skwcal View Post
I know there have been some correction (slowly) throughout Houston and suburbs. When do every think we will go back close to the pre-boom valuation?
Don't think we will. The probability is that we will plateau in some areas and then upward creep will go back into motion.
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