How was this year 2021? What's your expectation for 2022?

[Vijaianand Thirunageswaram]

Howdy Houston REI's and Investors from all over US who invests in Houston,

It's been a while since I posted in the forum. Thank GOD for keeping me busy helping investors even with all the COVID situation.

Many of you will concur with me that Texas market really super highway this year whether it's Houston or Austin or Dallas market. Houston didn't pick up until late but did join the band wagon of bidding wars and high asking prices. Investors were sidelines with the above asking market prices and not many options. We have very low supply of OFF market properties as many sellers want to wait and see how the market goes. Even with all that, we had very good year in my real estate career and as an investor as well. We just flipped one house but didn't make much money. We had rehabbed almost 15 properties under BRRRR strategy. As they say, every problem is an opportunity in disguise and that's very true during this last year.

What about next year 2022?

I expect the storm to start in spring and continue next storm since many buyers stopped shopping and sheltered in rental houses temporarily. They will come back to market next year which should create demand but depending on the inventory flow we have to wait and see. Many internet buyers like Zillow, Offerpad made the market fierce and worse in many ways for buyers and sellers this year. Now Zillow is gone out of flip business, i hope things will mature and goes better as per gut feeling.

So investors expect for competition for turn key properties next year but keep look out for OFF Market deals which might flow better next year as COVID situation eases.

How was 2021 for you? Please don't hesitate to share your success and lesson learned.

Happy Holidays to every one!! Be continue to be safe and let's welcome the new year with more hope for worry free year!!

[Mike D'Arrigo]

After a tough 2020 due to COVID, 2021 has been a great year. Much of our growth has come from expanding in to a 3rd market. Although inventory is still tight in most markets, there are signs that it is beginning to loosen up. My prediction is that it will remain a sellers market in 2021 however, the rate of appreciation will begin to slow down, which it has already begun to. Now with the expiration of the foreclosure moratorium, we're seeing some increase in foreclosures, although I don't expect there to be a repeat of 2008.