pid=2141Houston Real Estate Highlights for December and Full-Year 2024:-Following two consecutive years of declines, single-family home sales rebounded in 2024 with 85,163 single-family homes sold compared to 84,038 in 2023 an increase of 1.3 percent; -Total property sales for full-year 2024 were statistically flat at 101,864 units while the total dollar volume increased 3.1 percent to $41 billion;-December single-family home sales climbed 16.3 percent year-over-year with 7,162 units sold;-Total December property sales increased 13.6 percent to 8,478 units;-Total dollar volume for December rose 20.5 percent to $3.5 billion;-The single-family home median price edged up by 1.3 percent to $334,290 while the average price increased 5.0 percent to $425,150;-Single-family homes months of inventory expanded to a 4.0-months supply;-The townhome/condominium market experienced declining sales throughout 2024, and in December, volume declined 5.8 percent, with the average price up 2.5 percent to $268,152 and the median price statistically flat at $234,250;-Townhome/condominium inventory improved from a 3.5-months supply to 5.4 months.

Just get it under contract as quickly as possible... an multi- page realtor supplied purchase contract often does not afford you the luxury of time.  

For one is that an appropriate price point for the supply/demand curve intersection?

Seller finance the property- ask for an up front, non-refundable down payment of $XXX (which could be used as his primary residence down payment), payments of $X over X years at X interest rate with a balloon payment in X years2.

This being said, I don't believe we'll be able to meet the income requirements to qualify for a conventional.This leads me to believe hard money or private lender is more the only option to get my foot in the door, use my business to make repairs at very good rates, build some equity then refi once the balloon is due. 

Properties are sitting on market for a bit longer now that supply is slowly creeping back up. 50 days isn't too terrible compared to the greater PHX area. 

The process went smoothly, and I’m happy I got a tenant so fast, but the high supply of new builds in the area makes me nervous.

I have a 10x8 shed that I use exclusively to store real estate materials and supplies.

If you don't flip, these guys are usually in the appropriate isles at Home Depot with the carts of supplies or just hang around the commercial check out.

Their clear incentive is to bet on falling interest rates between now and debt maturity.A small handful of owners are forced to sell due to a looming balloon payment that a refi won't cover, but you're not going to find one of those by driving the market when any commercial broker can just look up properties on that basis and start making calls.