Houston Real Estate Blog

From the monthly archives:

May 2009

There are many reasons people consider selling a home. Whether you’re thinking of upgrading, downsizing, or simply making a change, you may be wondering if the timing is right. Here are several reasons why this may be a good time to put your home on the market. Interest rates are at an all time historic low and Houston housing prices have been stable.  Chances are that your home is worth more than even a few years ago.

First-time home buyers have a strong incentive to purchase homes this year, as an $8,000 tax credit is available to most people who haven’t owned a principal residence in the last three years. Record-low interest rates motivate buyers to act on their desire to purchase a home and give them more purchasing power. Unlike several other states that experienced wild price fluctuations and skyrocketing foreclosure rates, Houston does not have a glut of unsold homes. According to the Real Estate Center at Texas A&M, the statewide supply of homes is at a level that leads to a fairly balanced market. Individuals and businesses continue to move to Houston, and this ongoing population growth feeds a strong demand for housing.

Stop and think back 5 or maybe even 3 years ago and compare it to the technology that we have available today in real estate.  As Generation X, which ranges from ages 17-32, begins to enter the workforce and purchases their first home, technology plays a major role in their home buying process.  Gen X home buyers are already educated about the neighborhoods and home prices well before they meet with a local real estate agent.  They do most of their research online first.    

The National Association of Realtors conducts a survey every year and the most recent study shows that 87% of buyers start their home search on the internet.  That number has been steadily increasing year after year.  So, how will that affect the real estate industry in the next 5 years?  Good question, I don’t have a “real estate crystal ball”. However, I can guarantee you one thing, it will most certainly be much different than it is today.  But that’s the least of our worries, we must be focused on embracing the changes and being on the forefront of techonology to meet the demands of our future clients.

Oh and don’t forget about Gen Y and Z, what new technologies will they be using?

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