Friday, March 13, 2015

Friday the 13th Houston - Pearland Real Estate Market Report

It seems appropriate that on such a day, I report what I've seen this year (2015 so far) and also reported by our MLS (a/k/a HAR.com):  real estate sales have seen their first decline in quite a while.

We made news!  But hmmm . . . 
The complete report from HAR.com can be read here.  Oh well, Realtors everywhere are saying things like, "we needed this market correction" or "we are now approaching a normalized market."  I think what they mean is that we couldn't expect what we experienced in the last year to last forever.

I remember when the Boston real estate market was climbing at an appreciation rate of 18-20% per year!  When homeowners were surveyed, an astounding 78% expected that climb to continue indefinitely!  Wow!  That would mean that home prices would double every 4 years or less . . . (who knows how to compute that compound interest problem??)  But we learned that the old truism, "what goes up, must come down" is still true.  The Boston market fell into the tank, and is now climbing back out.

Our market is quite similar and quite different.  After Hurricane Ike (remember that bastard?)...... you couldn't hardly give a home away, much less sell it.  Homeowners found themselves "upside down" in their mortgages, and were forced to lease their homes out rather than sell them when it was time to move.

The last couple of years, that's not been the case.  Homes turned around and started generating good returns again.  Then, the best ones would get multiple offers in the first 3 days on the market, and sell above list price and above appraisal price!  That continues to exist in many sub-markets around the Houston and Pearland areas!  But it's not across the board any more.

Homes must look good, be staged well, priced correctly, have updates, and need few (if any) improvements in order to sell well in today's market.

Are you thinking of selling?  Now may be the peak time . . . call me for a personal assessment of your situation.  We'll help you maximize your return based on your criteria.  We'll make the market perform for YOU!  Just expect more than 3 days marketing time . . . wow.

Meanwhile, blame the energy market . . . everyone else does!  I blame THEM!  After all, it IS Friday the 13th!

For your personal market evaluation, call Sam at 832-200-5656 or email Sam@TheSamTeam.com.  RE/MAX Top Realty, the largest RE/MAX office in Houston, Texas!