Whether you are buying or selling a property, you can get overly excited when an initial offered is tendered. Both sides are asking questions like is it too high, or too low? Will they counter, or will the offer upset them and will they walk away? It is part psychology, part business, part competitiveness, and partly exciting. It may be stressful, but keep in mind that at least in Texas, the initial offer is just the first part of the process. In Texas real estate buyers have two chances to negotiate when … [Read more...]
Archives for July 2012
Houston’s energy corridor has 17 new projects in the works.
The Oil and Gas industry is the prime tenant of developers planning to build 6 million square feet of office space along I10. This stretch of Interstate 10 is known as the energy corridor. Recent leasing activity in the Energy Corridor has pushed vacancies down to 7 percent, according to Jones Lang LaSalle, a real estate firm. Rents in prime office buildings are $31.50 per square foot, 26 percent higher than they were at the end of 2008. Not all of the projects will be built. Not all of the projects will be … [Read more...]
Houston Real Estate: To Wait is to Lose Ground
We may be coming to some realizations about the Texas and Houston economy and how it has affected the real estate markets the past five years. One is that the recession in Texas, at least compared to elsewhere in the country, has lasted a relatively short time. Along with that, we are leading the nation in economic growth. Less Harsh in Texas Let’s look for example, at the percentage of delinquencies. In Texas, they are running at 1.5%, while in Florida the delinquency rate is 8%. Right now, Texas leads the … [Read more...]