High demand for housing in the area! One useful tool is days-on-market. That’s how long a property , on average, is up for sale before finding a buyer offering a price, closing date to close & other details that seller will take. That is now 58 days on the market as compared to 84 days in 2014. Caution – as lack of lower priced and starter homes. The lower-end buyers are being priced out of the market. It’s tough to find newer starter homes in the location a family wants to live.
Properties located adjacent to Houston’s premier parks typically receive more than a 20% impact in values due to their proximity to outstanding public spaces according to local valuation firm Deal Sikes & Associates. Does not matter if residential or commercial properties or just land and high-rise, mid-rise and single story buildings. Even properties that are located more than 1,000 feet from a park can receive a positive valuation impact of 5-10%. SAME FOR OTHER CITIES.
Homeowners & renters remodel, redesign and restructure their homes for many reasons. Making the decision is hard, but can be worth the investment & increase satisfaction in the home. 35% of US home owners would rather move to a new home than remodel their current one. If they do update 38% upgrade worn-out surfaces, finished and materials. 17% add features to improve liability and 13% because it is simply time for a change. AFTER REMODELING, THEN WHAT – continued next.
Over the decade from 2000 – 2009 4.1 million Americans moved to Texas with 3.3 million going to other states. Largest number from California, then Louisiana probably because of Hurricane Katrina. Then Illinois, Florida, New York, Michigan and lesser amounts from other states. During those years a few more Texans moved to Montana, DC and Colorado, but after 2009 then more moving to Texas from Colorado. INTERESTING!
Right now builders are building for the upscale market, which leaves out folks who want to downsize or single or young people who want to start with smaller homes. For this reason, a few builders are building small homes, but finding lots is a challenger. Note that vacant lots scattered here and there are having smaller homes built on them. One builder can build a 729 square foot metal home for $58,420 + $4,274 for the slab + the lot or land. This keeps utility bills and monthly payments down and could be built in 6 weeks. THEN MOVE UP LATER!!