Every week, we ask a Houston real estate professional for their thoughts on the top three stories from the week before. This week, we featured Tiffany Curry, Realtor with RE/MAX Top Realty in Houston. Tiffany has a wealth of experience in the real estate industry, holds a Certified Negotiation Expert Designation and all three Prudential Relocation Certifications in Destination Services for buyers as well as Marketing Assistance and Relocation Inventory for sellers. Tiffany is also the 2011 Houston Realtor of the Year and a Class of 2012 Houston Business Journal 40 Under 40.
Houston Agent (HA): Do you see lenders tightening their standards as the year goes on and mortgage rates getting higher?
Tiffany Curry (TC): I see the lending standards lessening. I’m working with a bank that is accepting 580 and 600 credit scores, so they are lessening some of the standards right now. The mortgage bankers I talk to said they will see some of the programs that disappeared coming back eventually within the next few years, like self-employed loans. I think that the mortgage rates will continue to go up, but we will see guidelines lessening.
HA: Home sales numbers are positive in Houston, how do you see that affecting your area?
TC: Pretty much we have low inventory, and we have more buyers than we have sellers. Right now, I’m seeing multiple offers on properties, even on investment properties that aren’t on the market yet. People are approaching the sellers in the parking lots, asking “Hey are you selling your place?”. It’s crazy. Buyers are looking to see if anyone is moving because they want to find out about the property before it hit’s the market.
HA: Why is the Houston market so appealing?
TC: The Houston market is doing really good, we have a great cost of living, and lots of jobs. Especially jobs for young professionals. I work with a lot of young professionals and international clients, and that margin is huge. We don’t have a state tax, and it’s a great place to raise a family.