Real Estate Prices in the Houston Area

[Brandon Davis]

A family member of mine really needs to get out of a home in Tomball, Texas. No damage or problems, just money issues.

In light of the recent disaster in Houston, is inventory lower, thus making rents and costs of real estate higher? Or does the flooding dissuade people from purchasing? 

Thoughts on how disasters like this affect markets?

[Fred Heller]

@Brandon Davis  I love Tomball. It's one of the fastest growing areas in Houston but still has a small town feel, for now.

The conventional wisdom is that Harvey will create a spike in prices. My take is that people who are looking to buy will still want to buy. They'll just be more cautious about being in or near a flood zone. I think the buyers that will have to pull back are those who took a financial hit from the storm.

If you would like to have a conversation about their options, send me a PM. Thanks.