Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Texas > Houston
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 04-12-2009, 10:01 PM
 
2,628 posts, read 8,839,822 times
Reputation: 2102

Advertisements

Okay, if it turns out I am right you heard it hear first, if I am wrong, then forget I ever said anything.

I have been waiting on April as a sort of unofficial gauge of the housing market. If April was bad, being a month where things typically pick up, I figured we were in for a lot more price reductions, et al. Prior to April it has been the pits. Houses that didn't sell by the end of summer got to sit for extra weeks, if not a couple of months, because of Ike. It shut us down for weeks with no power and by the time things got rolling again & cleaned up, we were almost to the Holidays, a perpetually bad time of year for real estate. Even in the good times the Holidays bite for sales & January - February are never particularly strong either. So, you have houses that have sat through all of this and owners that finally softened their prices because of it. Now people seem to be taking advantage of that, plus the low interest rates.

Maybe it is just me, but I am busier now than ever. On Monday I am wagging in with 5 transactions to the title companies. 1 in Maplewood, 1 in Garden Oaks, and 3 in Glenbrook Valley. I am submitting two more offers, one in Katy and another in Garden Oaks. That is just Monday. I have other buyers I will be out with all this week, some of which I have had to postpone showing a little bit just because I can't get to them right away. Showing activity is up on my listings, everything just seems to be off the hook right now.


So is it a fluke of activity? I am just lucky, blessed or weird to be so busy? Or is the market turning around? There are plenty of people on the board in real estate, are you seeing any turn around?
Reply With Quote Quick reply to this message

 
Old 04-13-2009, 06:34 AM
 
1,416 posts, read 4,442,709 times
Reputation: 1128
So you are feeling the volume, but what about quality, and who has the pricing power, the seller or buyer? What about the buyer's finances? Are these solid >20% down deals?
Reply With Quote Quick reply to this message
 
Old 04-13-2009, 06:39 AM
 
Location: Charleston Sc and Western NC
9,273 posts, read 26,516,278 times
Reputation: 4741
Those are solid areas that you listed. And there is a wave of new comers to Houston, as well as those moving in from the exurbs.
Reply With Quote Quick reply to this message
 
Old 04-13-2009, 07:01 AM
 
Location: Houston, TX
17,029 posts, read 30,952,480 times
Reputation: 16265
I know of a couple hundred that will be moving into the area as a result of corporate relocations. Doesnt appear that housting values took much of a hit in Houston proper.
Reply With Quote Quick reply to this message
 
Old 04-13-2009, 08:43 AM
 
Location: Houston/Brenham
5,819 posts, read 7,245,048 times
Reputation: 12317
I'm in the building supply business. Several of my indicators have flattened in the last 30-60 days. I'm not too hopeful they are headed up yet, but at least they have quit sinking. Are we at the bottom? It's hard to say until you are on the way up, and can look back. But maybe, just maybe, we aren't headed any lower.
Reply With Quote Quick reply to this message
 
Old 04-13-2009, 05:43 PM
 
2,628 posts, read 8,839,822 times
Reputation: 2102
Quote:
Originally Posted by travelguy_73 View Post
So you are feeling the volume, but what about quality, and who has the pricing power, the seller or buyer? What about the buyer's finances? Are these solid >20% down deals?
It is mostly 20% down deals right now, but not all.

As for buyers/sellers having the upper hand, it depends on the area & the house. If it is a really good house in a higher demand area, it is a seller's market for that type of property, to a point. Transitional areas that people still aren't as sure of, it is a buyer's market. At least that has been my experience.
Reply With Quote Quick reply to this message
 
Old 04-13-2009, 06:16 PM
 
Location: The house on the hill
1,148 posts, read 3,560,197 times
Reputation: 1007
Just spoke to realtor over the weekend who said that she has been experiencing a lot more interest lately and feels the market is starting to make a turn for the better. I hope she is right. I also saw a lot of traffic at a local open house Sunday as well. I haven't seen that in a while.
Reply With Quote Quick reply to this message
 
Old 04-13-2009, 07:32 PM
 
Location: Houston area
1,408 posts, read 4,057,093 times
Reputation: 639
I've also noticed a lot more activity since the last couple weeks in February. March was a solid month with activity and lots of new leads. Abril has been really busy with activity on showings with my listings and offers. I have a couple more closings before the end of the month. And many of my clients are now more confident about submitting offers, some are first time home buyers too. So that's a sign that their confidence is rising. I have about 4 closings scheduled for May.

I hope its a sign that the market is getting stronger. The economy needs people to start buying some of this inventory. Rates are low and the prices are great.

On the other side, I've talked to a few other agents who are doing badly. It could also be that some are being proactive about things and others have gotten discouraged. But overall, I do feel the market is slowly coming back.
Reply With Quote Quick reply to this message
 
Old 04-13-2009, 07:36 PM
 
Location: Non Extradition Country
2,165 posts, read 3,778,511 times
Reputation: 2261
The housing market has settled slightly as home sales have picked up and more new construction has been started, I think it is a great time to get in on the action and start looking. Not sure home prices will go down much more than they already have..
Reply With Quote Quick reply to this message
 
Old 04-13-2009, 07:38 PM
 
Location: Katy, TX
1,288 posts, read 4,941,071 times
Reputation: 631
Market reports coming out of Katy are looking very good, houses are moving faster and prices are slightly increasing. My neighbor's house sold in two weeks! I'm hearing a lot of realtors saying they are seeing MUCH more activity at open houses.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2022 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Texas > Houston
View detailed profiles of:

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top