PEARLAND, TX – Brokers and investors agree that Houston’s market is very strong right now. If you’re planning to buy a home do it soon, because in the Space City, even the houses for sale fly right off the market.
“We have an over 15% increase in home sales over last year and prices have risen over 8%,” said Joe Sevcik, broker at Networth Realty.
But if you think you’ve found a steal and you’re willing to make an offer, be ready to battle an army of flippers – they’re everywhere and they have cash.
Flipping houses is becoming a great business again and lots of folks, some of whom are new to the game, are diving into unknown waters.
“The primary thing that the investor should know and be able to consider is what’s happening in the marketplace where he is purchasing the home,’ said real estate investor Carl Young. ‘The investor also should be sure that he is bringing his house up to the standards of the development that he’s in.”
In other words, if you’re an investor don’t over renovate: this isn’t your dream house; it’s someone else’s and you’re in it to make a profit. And if you’re a buyer – remember that a rehab should be more than just fresh paint and new carpets.
Make sure your American Dream is in good shape before you sign those papers.