Zillow, Trulia, Realtor.com and other internet portals have helped change the Real Estate industry. They have accomplished this by giving consumers access to more information than that provided by the local MLS. Many REALTORS® including Bill Edge have also benefitted from this change. For example, contact management systems allow the client to have 24 hour access to real estate files and documents. The National Association of Realtors statistics for 2014 show: • 92% of buyers use the internet … [Read more...]
Inner loop Houston housing will be strong in 2015
Declining Oil prices have Houston homebuyers expecting to see a drop in Housing demand. Don’t get to excited yet as the only thing happening so far is an increase in the Days on the Market Inner loop Houston Realtor Bill Edge said the long lines of people buyers attending open houses are gone. A Houston Realtor no longer has to get the offer in within minutes of the listing coming on the market. On the other hand finding an inner loop Houston home for sale on the west side is still very hard. He sees home … [Read more...]
Top 10 Real Estate trends for Houston in 2014
Houston Real Estate expert Bill Edge predicts job growth, combined with low inventory make this the best time to sell in Houston. Multi Family, and commercial Real estate will remain strong. Job Growth is the key to Houston’s rapid growth The Texas Workforce Commission reports Houston gained 362,000 new jobs in the past four years, giving many would-be homeowners the income to purchase a home. The Greater Houston Partnership reports Houston accounted for 32.1 percent of the state’s new … [Read more...]
Shortage of tradesmen in 2013 creating backlog for Houston Homebuilders
Houston builders have increased their production by 13% this year. While this may seem like a substantial increase it is actually less than the demand for new homes. David Jarvis, regional director of Metro study said “Everybody is quoting six months (of waiting) for a production home. In 2006, the peak year for housing in the Greater Houston area, builders such as Lennar could build a home in 3 to 3 ½ months. Today builders are taking up to 6 months to build a home. The reason according to innerloop … [Read more...]
Houston builders expect to build 28,000 homes in 2013
Houston home builders are expected to file permits for 28,000 homes in 2013. In 2010 builders filed permits for 20,685 homes. That represents a 26% increase from the total in 2010. Buyers are seeing builders raise prices due to a short supply of resale homes and rising construction costs. Houston inner loop realtor Bill Edge said builders are starting to hold back from pricing homes during construction. The reason is that by the time they finish the home, prices will have increased. The days of negotiating … [Read more...]
The Impact of Construction in Houston 2013
Bill Edge, an innovative inner loop realtor, is excited about Houston’s growing prosperity that is a derivative of new development within the Energy Corridor. This development is focused on: Construction along the energy corridor New Downtown and Galleria office construction Construction of multifamily buildings taller than 5 stories Increased new home shortages in meeting the needs of a growing population Inadequate warehouse space, with most vacancies to found only in Baytown and along highways … [Read more...]
Buyers in Houston will see a Housing shortage in 2013
The inventory of homes in Houston has dropped to levels last seen 12 years ago. The number of homes listed for sale in November 2012 according to the Houston Association of Realtors was 36,539. This is a 34.2% drop in the number of homes (45,113) listed for sale in November 2011. While new home starts are well below the record peak hit in 2006 when over 50,000 new homes were built in Houston. What this means to you the buyer is that there is a lot of competition for homes listed for sale. Inner Loop Houston … [Read more...]
Issues Affecting Houston Real Estate in 2013
Houston is facing many challenging stressors that are not likely to go away anytime soon. In many cases, they afflict not just Houston but much of the U.S.. Top 10 Issues 1.Aging Population There is a relationship between an aging population and slower economic growth. The U.S. has a healthier economic outlook than other developed countries, but is faring worse than countries like Brazil and India where demographics impact growth. Over the next decades, China together with the majority of developed … [Read more...]
H-Town Real Estate Market
Houston's Real Estate market is the best Metropolitan real estate market in the country. Over 1,000 people relocate to Houston each week. Houston has the highest income per cost of living for any major US city. The unemployment rate is two percentage points lower than the national average. Houston housing is 19% below the national average. New residential building permits are up 43% this year. Whether you are buying or investing there is no better place to put your money than in Houston Real Estate. Sellers can be … [Read more...]
Housing is dividing Houston into Poor and Rich Areas
The residential Income Segregation index for a metro area is derived by adding the share of its lower-income households located in majority lower-income census tracts to the share of its upper-income households located in majority upper-income census tracts. Source: Pew Research Center Change in residential Income Segregation index between 1980 and 2010: Houston 29 Dallas 21 New York 9 Los Angeles 4 Philadelphia 11 A new study released … [Read more...]