Houston, Buyers market, when? (new home, cabinets, price)

[Failed Engineer]

Originally Posted by therestofus

I'm looking to buy under that March median.

Someone mentioned this forum not being representative of average/median buyer in Houston and I agree strongly with this. Most of the people searching for houses here are looking in to well over the median home price mentioned above. With that said, in my price range, will it ever turn in to a buyers market?

Sorry to say, but no. Under $150k in good neighborhoods is a STRONG sellers market and I don't see any reason that will change any time soon. In fact, a lot of good neighborhoods that were sub $150k a few years ago are approaching $200k+ quickly.

I look for/buy investment properties in the sub $125k range so I'm pretty familiar with this segment of the market.

My recommendation for people looking under $150k is find something you like and buy it and don't look back.

[therestofus]

Originally Posted by Failed Engineer

Sorry to say, but no. Under $150k in good neighborhoods is a STRONG sellers market and I don't see any reason that will change any time soon. In fact, a lot of good neighborhoods that were sub $150k a few years ago are approaching $200k+ quickly.

I look for/buy investment properties in the sub $125k range so I'm pretty familiar with this segment of the market.

My recommendation for people looking under $150k is find something you like and buy it and don't look back.

Thank you for your advice.

[motorcycledoppelganger]

Originally Posted by Failed Engineer

Sorry to say, but no. Under $150k in good neighborhoods is a STRONG sellers market and I don't see any reason that will change any time soon. In fact, a lot of good neighborhoods that were sub $150k a few years ago are approaching $200k+ quickly.

I look for/buy investment properties in the sub $125k range so I'm pretty familiar with this segment of the market.

My recommendation for people looking under $150k is find something you like and buy it and don't look back.

That's been our experience as well. We've been looking for about 6 months and have come to realize we just can't get a house we want in a neighborhood we want, in the Houston area, and rental prices are even worse. We're going to have to relocate in a few years once we're out of "job hopping" territory - our income (50k) just doesn't cut it here.

Which isn't to say that nice houses don't come up in that range, but all of the offers we've made have been beat by cash investors.

So MY advice for a fellow <150ker is, write an offer on anything you'd consider living in, and hope something sticks. Don't get attached to a house until you have an accepted offer. And Good luck!

[therestofus]

Originally Posted by motorcycledoppelganger

That's been our experience as well. We've been looking for about 6 months and have come to realize we just can't get a house we want in a neighborhood we want, in the Houston area, and rental prices are even worse. We're going to have to relocate in a few years once we're out of "job hopping" territory - our income (50k) just doesn't cut it here.

Which isn't to say that nice houses don't come up in that range, but all of the offers we've made have been beat by cash investors.

So MY advice for a fellow <150ker is, write an offer on anything you'd consider living in, and hope something sticks. Don't get attached to a house until you have an accepted offer. And Good luck!

Thank you, it seems like I will get pre-approved sooner than later then.

[Oskar_Z28]

Ask me in a month - putting my house on the market tomorrow (<350k range).

[NewYorkiforniainHouston]

Originally Posted by motorcycledoppelganger

That's been our experience as well. We've been looking for about 6 months and have come to realize we just can't get a house we want in a neighborhood we want, in the Houston area, and rental prices are even worse. We're going to have to relocate in a few years once we're out of "job hopping" territory - our income (50k) just doesn't cut it here.

Which isn't to say that nice houses don't come up in that range, but all of the offers we've made have been beat by cash investors.

So MY advice for a fellow <150ker is, write an offer on anything you'd consider living in, and hope something sticks. Don't get attached to a house until you have an accepted offer. And Good luck!

This^

I'm one of those <150k'ers
Bought my 3-2-2 home Feb 16, 2015 for 130k (Northwest area, by Cole Creek Manor)
Home was 5 years old with builder grade innards, I bought it from an older retired couple...not enough time to jack it up, it was very clean.

Due to a crapola neighbor I put that home on the market Friday morning Feb 12, 2016.

By Saturday afternoon 5:30pm Feb 13th I had about a dozen offers. The all cash offer for 140k won out. They wanted in by Feb 26th. Challenge accepted and completed.

If you see something OP get your offer in ASAP. Anyone that stews on about it will miss out. Good luck

[Ghost Town]

Originally Posted by NewYorkiforniainHouston

[/b]

This^

I'm one of those <150k'ers
Bought my 3-2-2 home Feb 16, 2015 for 130k (Northwest area, by Cole Creek Manor)
Home was 5 years old with builder grade innards, I bought it from an older retired couple...not enough time to jack it up, it was very clean.

Due to a crapola neighbor I put that home on the market Friday morning Feb 12, 2016.

By Saturday afternoon 5:30pm Feb 13th I had about a dozen offers. The all cash offer for 140k won out. They wanted in by Feb 26th. Challenge accepted and completed.

If you see something OP get your offer in ASAP. Anyone that stews on about it will miss out. Good luck

Nice. I see the demographics for Cole Creek Manor and understand why you sold your house so successfully. This kind of area is really hard to find. Probably most unique area in Houston. Wow, this area is really a hidden gem. I have no idea why I don't hear about this area here on this forum.

I bought for 125K, but in North Katy. Same age house, excellent condition, doesn't need any TLC, just plug and play. Planning to move hopefully by the end of this year, but not sure if I will get offers as good as you.

[DJboutit]

Here in the Meyerland Willowbend Westbury area if there is a remodeled home for sale for a decent price it will not sit on the market 3 months

[Ghost Town]

Originally Posted by DJboutit

Here in the Meyerland Willowbend Westbury area if there is a remodeled home for sale for a decent price it will not sit on the market 3 months

Yes, especially if it's under 150K I'm pretty sure about it

[DJboutit]

Originally Posted by Ghost Town

Yes, especially if it's under 150K I'm pretty sure about it

No I am talking about $400k to $550k. If is it is a 2200 2500 sqft home that has been remodeled people might think something is wrong with it.