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 Tony Barker, the broker/owner of Premiere Home Realty in Cypress.
Houston Agent (HA): How are the asking prices affecting the listings you show your clients?
Tony Barker (TB): I think prices were a little low, cause the economy was a litle down in Houston. I think the housing market in Houston is going back to where it used to be. The prices are actually atificially being held down by government appraisers.
HA: Do you see the mortgage rates affecting the choices buyers are making?
TB: I think it’s a good sales tool, with the lender rates going up, but I also think people are ready to buy when they are ready to buy.
Whether the prices increase by 10 percent or by 3 percent, people will still buy. Unfortunately, the lending standards will lessen throughout the year.
HA: What markets in Houston are booming?
RB: The Woodlands, Spring, and even Cypress are doing quite well because there are so many companies moving there right now, and a lot of people relocating. People are also downsizing because they are retiring.