Houston Housing Market Takes Dive
Posted: Oct 26, 2016
Houston's housing market is experiencing simultaneous highs and lows, with some neighborhoods reeling from the energy slump while others are benefiting from pent-up demand left over from the boom.Should I Sell My Houston House?
The same as it is with any kind of business decision, before you decide to sell your Houston house it's best to do your own homework and consult with trusted professionals.
Lately the financing world has been really screwy. Lenders change program requirements at the last minute – and for normal purchasers, that could delay your sale.
Rutherford said despite Houston's economic diversification, more than half of its economy is still directly or indirectly connected to energy. And the industry tends to pay its employees well, so the many layoffs have a big impact on real estate.
The market is most robust in places with lower-priced homes, a stark contrast from a couple of years ago, when luxury homes and condominiums were experiencing most of the gains.
"We have a lot of expansion, a lot of growth and that's why we're so excited about this new subdivision," Harris said.
The below tips will help you get your property sold.
[NOTE: Most important – if you really need to sell fast, consider the option of selling for cash offer to a qualified local investor like Glymph Properties
Keep in mind that anyone can write a cash offer, even if they're borrowing money to purchase the property. So when you're selling a house through a real estate agent to an end buyer… be prepared that if the buyers financing falls through… you'll have to start the sale process all over again… adding more months to the process, more holding costs you have to pay for, and more.
To avoid having the buyer pull out at the last second because of financing… one option is to sell your house to a local investment firm like us.
Often, qualified investors have access to multiple lines of credit with public and private lenders that is secured by other assets.
That means we can close quickly and we don't have to wait for a bank loan to come through. You get your sale done and cash in hand quickly.
You'll have to do some due diligence to make sure you're dealing with a qualified local investor. Qualified investors will have no problem providing you access to bankers and references who can verify the investor's ability to close on the loan.
If you've taken a cash offer with an earnest money deposit, you might be entitled to keep the deposit if the buyer can't close on the purchase.
"New construction in the luxury housing market can easily reach $500 or $600 per square foot, particularly among high-rise condominiums in urban centers," Leslie Rouda Smith, the association's chair, said in a report, noting higher overall home prices and steeper development costs.But how do you get cash offers fast?
You can get a fair cash offer from us actually today. We're buying properties in the Houston Texas area, which we're local to… and we buy Houston houses… then we either hold them as rentals for ourselves… or we'll repair / remodel the house if it needs it and sell it to someone who loves the house.
If your local Houston property qualifies, we can buy your house fast.
"Quite often investors are willing to pay cash for a home and with the recent tightening of financial restrictions, coupled with the growing number of complaints about low appraisals, having a cash buyer has become even more appealing."