Hello, 2012!! A New Year, a New Start!
People often come to me and ask:
"What do you think of real estate market now?" or "Is the market picking up?".
I'm pretty sure you have wondered the same from time to time, during this trying economy recession. As a result, I'd like to share my thinking with you. The residential market has been soft overall compared to 4-5 years ago. However, in some areas, home values are increasing. But in other areas, home values have been steady or dropped. Whether home values have increased or decreased is very dependent on the location. The different factors influencing home values in these locations include things such as: the work force, commute, schools, community amenities, etc., that affect the quality of life in the various communities.
Real estate is different than any other investment. A lot of our "human needs and desires" are involved in deciding to purchase a home:
a. do we need a larger, newer, or more updated home?
b. kids need to go to better schools?
c. need to move because of job transfer?
d. just want this house, because it's really "Spectacular?"
e. have extra cash, need to expand our investment/retirement portfolio?
Therefore, there is no simple answer as to the status of the real estate market. At the end of the day, it really has everything to do what our human needs and wants, in terms of family homes or investments. As you know, the Houston area is getting busier and busier each day. The fast growing population supports our Real Estate market.
Any questions on real estate, please feel free to contact me anytime. I'm never too busy for any of your referrals!