What will the hurricane do to Houston RE?

[Brandon Turner]

Hey everyone,

I don't wanna be inconsiderate in the wake of this horrible hurricane but I have a legitimate question.

My sister is moving to Houston in a month and currently house hunting. Should I tell her to wait? Or will this drop prices? Any insights? 

What happened to New Orleans RE after Katrina? 

[Stephen Leonard]

@Brandon Turner having lived in Nola and gone through Katrina (not directly, our area stayed dry) but as a Realtor, if it is HIGH and DRY prices will rocket up. It would be a great time to get a good deal on a flooded home.  Many owners will receive their flood insurance (if they had it) and will pay off their mortgage and then sell the property for whatever else they can get, I saw many homes that were pre-Katrina worth 300k or more sell for 50-75k, only to be rebuilt and sell for 300k or more again. Some went for land value, many lots were sold for 35-50k after the flooded home was removed and after holding the lots for 5-6 years, they were selling for 150-200k.  Seen it plenty in Nola after Katrina and the floods in Baton Rouge last year. so expect to see prices rise based on being move in ready, I would suspect bid-wars are in the near future. 

Happy Investing 2017

Stephen Leonard