Anyone experiencing a slow down in Houston Area

[Rashid Ghafoor]

I recently did a rehab in Houston/ katy area.   I have the property on the market for over 10 days without a single showing or any inquiries.  That is despite the fact that the property is priced below market.  I was just wondering is anyone else experiencing a slow down in Houston area?

[Fred Heller]

Last Sunday I was contacted by someone who wanted me to show him a property on Tuesday or Thursday. I made the appointment for Tuesday evening, but the owner declined because of the impending storm. So I asked the buyer if he could see it Monday night, but he said it would have to be Thursday. On Wednesday I got a message that the owner accepted a contract. It was on the market 5 days.

So I sent the buyer a list of similar homes and he picked one to see on Thursday evening. Thursday afternoon I received a call from the agent to tell me that they had accepted an offer. It was on the market for 15 days.

So I can't say that I'm seeing a slowdown.

One thing I have noticed about Houston is that houses either sell really fast or they sit there forever. There doesn't seem to be any rhyme or reason to it. I'll see two very similar homes in the same subdivision for the same price, and one goes in a matter of days and the other one will be on the market for months.