The Houston Real Estate Market

Amid cities like New York with its expensive properties and Detroit with its deteriorating market, Houston is the newly emerging city in the US. With one of the most modest housing markets in the country, Houston is increasing its population fast. Houston’s tendency to flooding is the main reason for its affordable price ranges. According to a local, you can buy houses which cost more than your yearly earning to houses which are affordable to all classes in Houston as you go farther away from downtown.

According to the 2016 census, the population of Houston grew by about 10% between 2010 and 2016. The city is now ranked as the fourth largest city in the US. Houston ranked first in the Urban Land Institute’s yearly list, however, in the past few years, the sale went down, and in 2016, the city had fallen 29 ranks. The reason behind this was the slow economic rate growth in the city. The mid-year report stated that sales had gone up by 7.4% in 2017, but unfortunately, a great drop occurred in sales when Hurricane Harvey arrived in August. Despite the storm, sales still are higher by 1.6% compared to the previous year, driven by companies like i buy houses houston.

Even though it was thought that the hurricane would completely end the market in Houston for about a year or so, the market kept up its thriving business. In fact, according to some reports, the market increased due to the hurricane. Investors from all over the country are rushing into the city in hopes of buying flooded homes at low prices and then renovating them. Redfin reported that out of the 45 property buyers they had, only eight backed out after the hurricane while they had expected nearly all of them to back out.

Realtors found that people whose homes had been flooded due to the hurricane were still interested in buying property or renting it in Houston instead of moving away. As a result, house prices after Harvey went up by about 20%. People whose homes have been flooded are finding it hard to sell their property while houses which are elevated are now being bought rapidly. Homeowners in Houston, who realized that elevating their houses before selling would be profitable, are having a hard time buying supplies for rebuilding their homes.

A supply store manager admitted that before the storm, they were oversupplied, but now, they are facing a supply crunch. Due to these reasons, the prices of building materials are rocketing. Buyers are not concerned with the fact that their homes may get flooded, rather they are finding a way to elevate their homes so that future flooding doe does not affect them. A couple proudly proclaimed that they had signed a deal to sell their house a week before Hurricane Harvey came. The hurricane flooded their house, and they thought the deal would be over. However, they received a call from their buyers a week later who announced that flood or no flood, they meant to buy the property.

The real estate marketing has been affected in the following way after the storm. If your house has been flooded about three times, then its selling price shall be near the price of the land. However, if you have an elevated house, your house price is going to increase by about 18% as compared to its previous price.

Five golden tips on remodeling

A home is a place that families should be proud of, and it should also be a place they will have a longing for. Therefore, homes need to be in the best condition possible beginning with the physical appearance which is always the first impression.

Remodeling is one of the best ideas to make a home more appealing because it changes the usual view of surroundings or it gives tenants a chance to apply their taste. The following are some tips on home remodeling you should try out:

Try Doing It Yourself

The best way to fulfill the desires of what you want your home to look like is to do it on your own. No one understands your taste better other than yourself. It is also cost-effective because it will save you the agony of paying someone to do something like, design your house or do a paint job.

In most cases, those who involve other people in remodeling their houses end up being disappointed because some of their instructions are not followed to the latter. Therefore, doing it yourself seems to be a good option. Construction is the only thing that has to be done by the professionals, e.g. a home remodeling contractor in irvine ca.

Knowing your capability limits

Even though doing the job by yourself seems to be a good option, it is always good to start by knowing whether accomplishing a certain task is possible. Some tasks require some special skills which are not acquired by trial and error and by trying out, you can mess up the whole task.

It will turn out to be expensive in the long-run compared to hiring a skilled person because it will be costly to repair the damage. A good example is trying to tamper with the wiring in the house despite the fact that you may lack skills in electrical engineering or basic electrification. You may cause a short circuit which may result in a fire.

Exercise Patience

Perhaps exercising a little patience can be advisable to someone who just moved into a new house. The unfamiliarity with the new surroundings may make you compare with your previous residence, and you may be tempted to make it look like the previous one.

You should try staying for a while without changing anything to see if you can adjust to the environment. If things get out of hand for you, then you can go ahead and change things to suit your taste.

Hire an Interior designer who has good listening skills

Hiring interior designers is usually discouraging because most designers do not comply with customer specifications. This is because most of the designers fail to pay attention to the finest customer specification details given by the customers but instead, they do a general touch. Therefore, for the best results, it is good to hire an interior designer who pays attention to the finest details you give.

Be willing to alter your budget

Last but not least, having a fixed budget is one thing that limits home remodeling. For example, if you have hired a designer and you give him a fixed budget, it is likely that the designer will limit his thoughts. The reason for this is they may be trying to squeeze his thoughts to fit into your budget. It should be the other way around; your budget should be flexible to accommodate his thoughts.