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Housing demand/prices after a flooding event?
Posted on 9/5/17 at 12:26 pm
Posted on 9/5/17 at 12:26 pm
Been looking to purchase a home in the Houston area. I was waiting until summer was over and school was back in thinking demand would be low and it'd be more of a buyer's market at that point.
With the recent events in Houston would demand be at an all time high for homes that were in areas that stayed dry? How was the market after the Baton Rouge floods? Should I just wait another few months?
With the recent events in Houston would demand be at an all time high for homes that were in areas that stayed dry? How was the market after the Baton Rouge floods? Should I just wait another few months?
8
Posted on 9/5/17 at 12:28 pm to PortHudsonPlaya
I have a house I'll sell you in Oak Forest near Garden Oaks. Did not flood and we got 38" of rain.
Interested?
Interested?
Posted on 9/5/17 at 12:29 pm to PortHudsonPlaya
Don't move to Houston, move to Dallas
Posted on 9/5/17 at 12:29 pm to PortHudsonPlaya
The houses that stayed dry went way up in pricing. If they didn't flood during Harvey there is a solid chance they'll never flood. Neighbors house went from asking $125k to getting offers in the $175k range just within the last week. League City/Dickinson area
This post was edited on 9/5/17 at 12:30 pm
Posted on 9/5/17 at 12:29 pm to fareplay
quote:
Don't move to Houston, move to Dallas
Were out of space here GFY
Posted on 9/5/17 at 12:32 pm to PortHudsonPlaya
quote:
With the recent events in Houston would demand be at an all time high for homes that were in areas that stayed dry? How was the market after the Baton Rouge floods? Should I just wait another few months?
What we saw in NOLA was a huge demand in non-flooded houses along with a price spike. The prime opportunity for someone without a home will be investing on one of the many flooded homes. There may be a glut of half-gutted (or flooded un-gutted and abandoned) homes at bargain prices.
Posted on 9/5/17 at 12:32 pm to PortHudsonPlaya
Prices went up in Baton Rouge. When you see "never flooded" as a selling point, well...
Posted on 9/5/17 at 12:44 pm to PortHudsonPlaya
quote:
Should I just wait another few months?
Yes. Since so many of the flooded houses didn't have flood insurance, a lot of people are going to end up not being able to afford to do the repairs and will either have to walk away or sell it for whatever they can get. Investors will be buying up those houses to fix and flip them. By this time next year, Houston housing market will be full of recently renovated houses being flipped.
Posted on 9/5/17 at 12:53 pm to Tiger Prawn
Well I have no desire to buy a home that will eventually flood someday.
Looks like I'll just have to wait until the craze goes down.
Looks like I'll just have to wait until the craze goes down.
Posted on 9/5/17 at 12:57 pm to 50_Tiger
quote:
Don't move to Houston, move to Dallas
Were out of space here GFY
Says the guy that was encouraging the Miami student on the other thread to take refuge in DFW.
You are good at bragging about living there and then following up with disinviting any interested parties. 
Posted on 9/5/17 at 12:59 pm to PortHudsonPlaya
I'll be in the market for a House soon. Should qualify for a $250k VA Home Loan.
Posted on 9/5/17 at 1:00 pm to LadyTigress
quote:
Says the guy that was encouraging the Miami student on the other thread to take refuge in DFW. You are good at bragging about living there and then following up with disinviting any interested parties.
There's a difference between staying there for a few days, opposed to staying there for a few years smarty pants!
edit: freaking iphone.
This post was edited on 9/5/17 at 1:04 pm
Posted on 9/5/17 at 1:06 pm to PortHudsonPlaya
There are going to be TONS of people looking to unload their homes b/c they are too broke or too old to do the repairs. Look for info on distressed homes.
Same thing happened in Galveston. My dad found one that needed 40k in foundation repairs and he bought the house as-is for 88k. Three years later, sold it for 450k because it was an older couple who got their insurance repair money and needed it for retirement.
Blood on the streets kinda thing.
Same thing happened in Galveston. My dad found one that needed 40k in foundation repairs and he bought the house as-is for 88k. Three years later, sold it for 450k because it was an older couple who got their insurance repair money and needed it for retirement.
Blood on the streets kinda thing.
Posted on 9/5/17 at 1:09 pm to 50_Tiger
quote:Plus this OP appears to be a dude, and the other thread was some college chick.
There's a difference between staying there for a few days, opposed to staying there for a few years smarty pants!
HUGE difference!!!
Posted on 9/5/17 at 1:10 pm to shel311
quote:
Plus this OP appears to be a dude, and the other thread was some college chick.
HUGE difference!!!
YUGE.
edit: Tigress check your box.
This post was edited on 9/5/17 at 1:13 pm
Posted on 9/5/17 at 1:41 pm to Bob Sacamano
quote:
I have a house I'll sell you in Oak Forest near Garden Oaks. Did not flood and we got 38" of rain.
Interested?
Same. And I'm on pier and beam. Can have it for $1M.
ETA: in case it needs to be said, this is not a serious offer.
This post was edited on 9/5/17 at 1:51 pm
Posted on 9/5/17 at 1:56 pm to LoveThatMoney
How does one go about finding these types of houses? I've been interested in a rental. Now may be the time to strike with a flood damaged home. One that only flooded from Harvey and not Memorial or Tax day.
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