While we’re investing in our own neighborhoods and towns, there’s one huge boom happening across the way: Houston. Even before Hurricane Harvey’s influence on the market due to flooded homes, because of the sheer size of the city and land surrounding it, real estate investment has always been prime as homes and neighborhoods constantly go through waves of revitalization.
Even after 2008’s market crash, the Houston market was quick to recover, as was pretty much the entirety of Texas’s economy. The market has been booming with an uptrend and real estate investment has been a pivotal part of renovating different neighborhoods within the city and its suburbs. More and more residents are moving into real estate investment as a means of building long-term wealth, which also ends up helping many homeowners in dire situations because they’re able to get out from under a mortgage that is drowning their finances.
After Hurricane Harvey, an influx of investors and contractors further increased the market’s trend as there were many homes being bought and sold due to flood damage or were otherwise uninhabitable. Other situations like fire damage or simple long-term vacancies are very prominent in a large city such as Houston with almost 3 million in population living there. Because of the age of the city, there’s also a lot of probate/inheritance or aging out of a home that requires a quick sell to liquidate for cash. All-in-all, there’s a huge market for real estate, which means Houston’s real estate economy a “blue ocean”.
Aside from the existing neighborhoods, there’s constant new development happening in the west and north of the city. The Woodlands and Conroe areas are expanding and building more as residents move from the inner city into these new development areas. Richmond and Sugar Land are also hugely popular in the southeast of the city, which have new master plan developments happening every year and homes are consistently pre-sold for residents that are looking to move out into the suburbs for family life or are moving in from other surrounding cities. The oil & gas industry promotes a lot of long-term residents to relocate in from other states, and most of the time these industry workers stay with a corporation for a large number of years. This means that they look to find a place the settle in for the long haul.
Houston’s market is great not only for trade workers and house flippers, but for those that are looking to rebuild neighborhoods, develop new areas, or deal in commercial. Both resident and commercial real estate presents a lot of opportunities in several areas of the city. The Third Ward district is already going through a gentrification as many of the old homes and warehouses are being bought up and redeveloped into new residential housing, which was in the works before Harvey. Post-Harvey, housing demands have significantly increased and there’s simply not enough housing to handle the displaced families from flooded homes. As such, there’s a reliance upon real estate investors who have the capital to actual take a damaged home and restore it so that these families can get back in them. Many individuals or families do not have bank loans as an option to restore a damaged home. That’s why real estate investors who use private funds are able to restore them to a point where families can get approved mortgages to purchase them.
This shows how the real estate investment market is not only just a means for building wealth, but it helps homeowners in need and helps housing needs that otherwise would go unmet due to how bank mortgages operate. Without investors, families would not be able to find new homes when they go through a disaster that a bank or insurance company tries to dodge when it comes to claims or restoring a property.
Information in this article was provided by Home Buyer Houston (https://www.homebuyerhouston.net).
We discussed before how selling your home to a real estate investor can be beneficial in certain circumstances, but there is a lot more to it than that, and things to look out for.
To learn about selling to a real estate investor, check out this video: https://www.youtube.com/watch?v=uKMtA504nYw. You can also check out the channel at https://www.youtube.com/channel/UC2Vvx_tpj0xIHERQDQ6ex1Q.
If you are planning to go for second home ownership, don’t think twice since you are definitely not alone. Although many people usually worry about double mortgages and property taxes, two-fold utility bills, and twice the price of heating systems, plumbing, fixtures, and roof maintenance, still, many homeowners find second home as extremely lucrative investments.
Second homes could be a retirement home, a permanent getaway spot, or something that can give you profit through lease and rentals. Depending on the location, a second home can also be a great venue to escape the buzz and hustles of the city. Here, you can simply sit back, relax, and spend more time with family or friends.
Unlike renting vacation homes, you will be able to revamp your second home based on your personal interests and tastes in such a way that you, your loved ones, and other occupants feel the most comfortable. Aside from that, as far as marketing is concerned, the value of homes has lesser risks of depreciation, or they don’t often depreciate at all.
However, before plunging into second home ownership and buying that second home, it is a must to consider all of your needs to reach a good decision. How should the home look like? Where should it be located? Do you have to get someone who is an expert on real estate to help you in your decision making? How about property taxes?
Below is a quick guide to help you kick start in making one of your life’s biggest investments:
Decide About Its Look – This basically depends on your lifestyle and your location. If you do not want to keep your lawn in your second home each time you go there and you want to rest on weekends, select the options that are low maintenance. You also have to be sure about its size. Consider the second homes that are bigger sizes if you like your relatives and family to be in it.
Where Must It Be? – Search for an area that suits best your hobbies, personality, and interests. If you’re a party person and you like to be located with the bars conveniently, best diners, and clubs, look for a second home in a city. Nevertheless, if you do not want to travel to far distances yet wants a closer and peaceful place closer to nature space, find a second home that’s an hour or two drive from your first home. Typically, second home owners prefer the locations near the vacation areas where they could play golf, kayak or surf depending on their preferences.
Take some time to ponder and decide before buying a home for sale in your chosen location. Keep those tips in mind for you to ensure success when buying your second home. There are tons of homes for sale out there. Start searching in real estate sites online and know what you want in a house and where you want it. Settle your finances and get the assistance of a real estate agent.
When it comes to owning a property, landscaping can be one of the most important things to keep up appearances, and, ultimately, please your HOA. Landscaping can be difficult if you’re not well-versed in what you should be taking care of and how your land should look. You also may not know what to look for in landscapers, as they come in many different shapes and sizes (read good and bad). You may want to check out this homeowners landscaping and gardening guide for 2018. Let us know if there’s anything missing that you would like to include!
In our last post, we talked a little bit about using real estate investors when it comes to selling a property. It turns out that some people use investors and agents interchangeably, or they believe investors are just people that dump cash into a property. That’s only partially true. To help give a clear set of differences between real estate agents and real estate investors, we have an infographic to lay it out.
Credit for the infographic goes to https://cashforhousehouston.wordpress.com.
Sometimes we come across troubled times and our home, although the last thing we want to give up, becomes something that we can release as a burden or help us liquidate to get into a better situation. There are multiple ways to deal with the sale of a property, depending on the urgency, what current state it’s in, and what kind of timeline we’re under. For this reason, we want to talk about issues with foreclosure and why you may want to consider an unconventional buyer, a real estate investor.
Selling a home is something you should give some thought to if you want to make sure you get the most money possible for your investment. There are many different reasons you may choose to sell your home, but no matter why you are doing so, you can use the helpful tips shared in this article. Continue reading for advice you can use when you are selling a country house to a real estate investor.
First of all, you will want to learn how much your country home is worth. There are many different ways that you can go about doing this. You may choose to have a professional company look do an inspection of the house and give you an amount. Another thing you can do is have a real estate agent help you determine the value. The more information you can get about how much the country house is worth, the better you can price the place to sell.
Then, you will want to prepare the house to sell. You can do this in many different ways. You will want to clean it completely, from top to bottom and inside and outside. As you do this, you will want to take notes as to the repairs that need to be made. After you have cleaned the home, you should make any repairs that you deem necessary. If you are planning on selling to a real estate investor, you may want to discuss these repairs with them before you spend too much time or money on them. They may have different ideas in mind.
After that, you should discuss with the real estate investor the terms of the transaction. You may find they want to give you less than you would like for the country house. If this is the case, do your best to stand your ground and do what you can to get a fair price. On the other hand, the investor may be willing to give you more than the asking price. This is a good thing and obviously you won’t want to argue about that.
Once you have found the investor and worked out a deal, you should have someone you trust look over the official paperwork. This may be someone you already know and trust. Or, you may need to hire someone that can do it for you. No matter which option you choose, you will want to make sure that everything is correct and you know exactly what to expect as far as the deal goes.
In cases where you’re under a tighter deadline, a real estate investor will be able to help expedite the closing, sometimes in under 7 days. This may one option when you’re looking at how to stop foreclosure at the last minute.
In conclusion, when you want to sell your country house to a real estate investor, you should take some time to learn as much as you can about the transaction. By doing this, you will be sure to get the proper amount for the home and be satisfied with the transaction. Use the tips that have been shared here to help you have a successful home sale. You can reach out to Sell My House Easy Fast (http://sellmyhouseeasyfast.com) for more information on how to work with a real estate investor or finding cash offers for your home based on their network of investors, or visit them here.
The New Year is around the corner and we’re getting ready to re-launch our site. Stay tuned as we continue to build out the new design and we’ll bring you a different style of content than before. We’re going to be focusing on more about country home ownership, being a landlord, and how the real estate business can work for you as you build up your assets.
Check back again soon as we’ll be adding more. Feel free to let us know if there’s anything in particular that you’d like more of, or if you ever want us to elaborate on particular topics regarding real estate!