All Forum Posts by: Sharon Tzib

Houston Housing Stats October 2016

Highlights:

• Single-family home sales were statistically unchanged with 5,916 units sold;
• On a year-to-date basis, single-family home sales were up 1.2 percent;
• Total property sales rose 0.7 percent to 7,120 units;
• Total dollar volume increased 1.4 percent to $1.9 billion;
• At $218,000, the single-family home median price rose 6.3 percent to an October high;
• The single-family home average price increased 2.2 percent to $277,904, which was also the highest level for an October;
• Single-family homes months of inventory climbed to a 3.8-months supply;
• Townhome/condominium sales were flat, with the average price unchanged at $197,558 and the median price up 4.7 percent to $157,000;
• Leases of single-family homes declined 1.0 percent with average rent down slightly to $1,728;
• Leases of townhomes/condominiums fell 2.3 percent with average rent down 2.1 percent to $1,488.

Yes @Michael Le. The increased inventory has really helped normalize things and keep sellers in check :)

http://www.har.com/content/newsroom

Houston Real Estate Highlights in September

• Single-family home sales declined 0.5 percent with a total of 6,652 units sold;
• On a year-to-date basis, single-family home sales were up 1.3 percent;
• Total property sales were down 1.6 percent to 7,893 units;
• Total dollar volume was unchanged at $2.1 billion;
• At $219,990, the single-family home median price rose 4.8 percent to a September high;
• The single-family home average price increased 2.4 percent to $277,849, which was also the highest level for a September;
• Single-family homes months of inventory climbed to a 3.9-months supply;
• Townhome/condominium sales fell 3.1 percent, with the average price down 3.7 percent to $199,240 and the median price down 4.8 percent to $147,600;
• Leases of single-family homes rose 5.4 percent with average rent down slightly to $1,764;
• Leases of townhomes/condominiums shot up 10.8 percent with average rent down 1.0 percent to $1,524.

Hi Cheryl! I work with buy and hold cash flow investors here in Houston. Been an investor myself since '02. Happy to connect and answer any questions you may have. 

http://www.har.com/content/newsroom

Houston Real Estate Highlights in August

• Single-family home sales rose 8.2 percent with a total of 7,914 units sold —the greatest one-month sales volume of all time
• On a year-to-date basis, single-family home sales are up 1.5 percent;
• Total property sales rose 7.1 percent to 9,319 units;
• Total dollar volume shot up 10.6 percent to $2.6 billion;
• At $225,000, the single-family home median price rose 4.2 percent to an August high;
• The single-family home average price increased 2.4 percent to $289,519, which was also the highest level for an August;
• Single-family homes months of inventory climbed to a 4.0-months supply;
• Townhome/condominium sales rose 5.1 percent, with the average price up 1.0 percent to $202,669 and the median price up 4.0 percent to $156,000;
• Leases of single-family homes were down 2.2 percent with average rent down slightly to $1,878;
• Leases of townhomes/condominiums rose 5.7 percent with average rent down 2.6 percent to $1,604.

Hi @Amanda Haynes. I work with buy and hold cash flow investors. Feel free to pm me if you want to chat.

Hi @Heather Hibbard! Welcome to BP and the world of REI. I help investors purchase buy and hold cash flow properties in Houston. Feel free to reach out to me any time and I'd be happy to answer your questions about getting started. Good luck!

@Serkan Eren I've helped many out-of-state investors purchase buy and hold cash flowing rent-ready properties in Houston. I've also owned my own rentals out-of-state (in Indy, coincidentally), so I understand the dynamics of that as well. Feel free to PM me and we can chat more about your goals and the market here.

So this is what I would do if I were you. I would lease up the two studio apts and one side of the duplex, leaving the other side free for showings (so you don't have to bother your tenants) and available in case an owner-occupant (i.e. house hacker) wants to purchase to live in. If you do lease both sides, than make one side a shorter term, like six months, so house hackers won't be turned off completely. This way you will have income coming in and you will appeal to the widest buyer pool possible.

@John Vo So sorry, but my reference to what I eventually sold my Calif property for was strictly anecdotal - I was in no way, shape or form trying to state that is what will happen w/ Houston - now that would be self-serving lol!! 

Anyway, yes, I am confident in Houston. I think we will have some bumps in the near future, but our economy has proven to be pretty resilient, I believe it will continue to weather the storm enough to not fall off a cliff, and as long as rents hold or continue to increase, and jobs in industries other than o & g continue to be created or hold steady, it still makes sense from an investment standpoint. Also, sorry, I can't put my finger on the sites I've seen that 30% number, but it's been more than once over the last couple of years, and it depends on if you just looking at the % of jobs that are in o & g, or whether you are looking at all the ancillary businesses that service o & g. 30% is for the latter. My attachment does clearly show the number of jobs in o &g, and it's not the dominant force it once was, which is a good thing in times like these with lower o & g prices.

I love what @Keith Goodwine says. So true. So many of my investors have been complaining that the market has been too hot and prices too high; now competition is lessening and prices are normalizing and they're too scared to pull the trigger. You can't have it both ways folks!