The Changing Face of the Realty Market – Houston Custom Homes

It’s no surprise to professional builders, and those in the real estate industry, that the housing market has been suffering over recent years.  Property values are at an all time low, although the market for Houston custom homes has done well when compared to other large cities.  With spring coming up, many real estate agencies and firms are trying to assess the upcoming housing season to determine if this year is going to be any different than the last.

Many factors go into determining the market potential of a given season, and one of them is the employment rate.  While rates around the nation have been consistently dropping, Houston has actually been able to increase the amount of available job openings.  Without a job, it is unlikely that one would be able to afford Houston custom homes.  Harris Interactive recently conducted a survey for the National Association of Realtors in order to determine how significant job security is when purchasing a home.  The results of the survey, which 3,500 homeowners and renters participated in, found that 60 percent of them worry about job stability and ability to get credit.

Another financial component that will play a role in this spring’s housing market is that there will be no federal tax incentive offered to buyers in the year 2011.  A policy that had been put in place to increase interest in real estate has been revoked.  Some real estate agents aren’t worried about this change, however, because buyers fear that interest rates will be permanently increasing in the near future.  The opportunity to take out a loan at this time in the market would be appealing under these terms, and so this possibility has made up for some of the other financial issues.

Buyers look for comfort when purchasing Houston custom homes, and financial status is the leading cause of stress and discomfort.  When committing money to the purchase of a house, a buyer wants everything to be perfect to ensure that he is getting his money’s worth.  For this reason, homeowners and renters are getting pickier when looking for property.  Real estate agents say buyers are getting more demanding, and houses are being sold at a quality standard higher than ever before.

The new demand for perfection in a home purchase has led to a staging phenomenon in which agencies are putting together museum like open houses, and aren’t even assured a showing.  It is normal for a house that goes onto the market to require some improvements, but the amount of effort required to sell a house in this market is surprising.  Only the coming of spring will truly give a picture of what we can expect in this year’s realty market.