Sherry Campbell
Energy Realty, 281-679-6266
What do you think will happen with home prices in 2023?
I think home prices will continue to adjust back to where they should have been when the market went crazy. Home prices appreciated by 20-30% from 2020 to the middle of 2022, which is a speculative appreciation in Houston. The average appreciation in Houston is 6-10%, so home prices will need to drop another 10-20% to bring prices back to normal.
How do you calm clients worried about inflation and larger mortgage payments?
As a real estate broker, I do not have control over inflation, but the feds had to increase interest rates to slow down spending, which would slow down inflation. At the beginning of 2022, buyers were overpaying for homes, and you can always refinance your loan, but you cannot change what you paid for a home.
How do you hope to make every person who buys or sells a house with you feel?
I know I have done my job when I go to the closing table, and my clients say, "that was the smoothest transaction I have ever experienced." I always go the extra mile to coordinate all of the details of the buying and selling process so my clients can stay calm and not feel overwhelmed. energy-realty.com
Justin Dugat
Norhill Realty, 949-877-6965
What are some hot topics regarding the real estate market right now?
The hottest topic right now is interest rates. Will they fall again? Are they going to continue to rise? Is it a good time to buy with the rates being where they are? These are all questions everyone wants to know. The dramatic drops that we've had should not be the realistic expectation of home buyers. Historically, rates are still very low, even at their current numbers. In the industry, we say, "date the rate and marry the home." With the rates being a bit higher than last year, clients will have a chance to refinance in a couple of years.
Currently, what parts of the home are buyers most interested in? Kitchens? Closets? Outdoor space?
The kitchen is still the most impactful space when deciding on a home. The kitchen leads to the pantry and laundry rooms which have become true rooms of their own. Custom cabinetry and storage are trendy, as are counter spaces in the pantry for appliances homeowners want to be tucked out of the way. justindugat.com
Karen Harberg
Compass, 281-546-9444
What effect has remote work had on the real estate market in Houston?
Remote working soared to new heights during the pandemic and will remain an important aspect of work going forward. Homeowners are requiring spaces in their homes that can be dedicated to working efficiently, zoom calls, collaborative projects, and quiet contemplation. While every home may not have a specific study or home office, buyers are requiring a separate area to be productive without distractions. This may increase buyer demands for additional flex space in addition to the number of bedrooms required.
Currently, what parts of the home are buyers most interested in? Kitchens? Closets? Outdoor space?
Buyers have always been interested in kitchens, baths (especially the primary bath) and closets throughout the home, but again, especially the primary closets. During the pandemic and beyond outdoor space has become more of a priority as entertaining has expanded to the outdoor living space. Buyers gravitate to and make offers on homes with updated kitchens and baths. Outdoor spaces buyers are looking for include large covered patios with water features and fireplaces or fire pits, space for al fresco dining and a swimming pool with water features. karenharberg.com
Angelina Keck
Angelina Keck Properties, 713-300-4024
What are some hot topics regarding the real estate market right now?
Spring Branch is finally having its long-awaited resurgence. With the Inner Loop becoming congested and prices soaring, many young, educated, first-time home buyers are looking to Spring Branch. Home prices are already rising, but good deals are still available in neighborhood pockets. Spring Branch's proximity to the Beltway, I-10, Memorial City, and the 610 Interchange, provides access to crucial parts of the city. Look for schools north of I-10 to improve and for more private school options to become available. With the combination of aging original owners and an influx of young buyers, Spring Branch is poised to peak in the next five years with enough room to continue to grow within Houston.
What effect has remote work had on the real estate market in Houston?
People want a space for an office or study, and many opt for less open-concept floor plans in family-oriented neighborhoods. More and more people are also looking for a second home or vacation home easily accessible where they can split their time and work remotely from both places. I am also seeing people downsize, buy their dream vacation or retirement home, and purchase something smaller in the city. angelinakeck.com
Jessica Frith Koch
Compass, 713-530-1400
Currently, what parts of the home are buyers most interested in? Kitchens? Closets? Outdoor space?
Functionality is what clients are most interested in. That means focusing on layout and storage as well as the flow of the house. Kitchens and closets are always big wins because that is where we keep things moving in our lives. Having a home that is optimized for functionality can be the thing that makes or breaks your day each morning or in the evening after a long day's work. Taking this a step further, this also means focusing on homes where the owners regularly took care of any deferred maintenance and not just a quick update before it hit the market.
What are essential resources buyers should be using when looking for a house?
The most important resource you can use when buying or selling your home is a good lender. Your mortgage officer must be driven, flexible, and knowledgeable about all the products that may work for your situation. Most successful agents have relationships with lenders they prefer to work with for one main reason: they can figure out how to make things work in favor of their clients. jfkochproperties.com
Michelle Miller & Sarah Brooks Stokes
Compass Memorial, 713-870-8098, 281-455-3970
What do you think will happen with home prices in 2023?
In 2023 we expect to see an uptick in sales in Q2, primarily due to those choosing to move after the school year and the expected drop in interest rates. Going into Q3, sales will cool, and prices will follow. Two crucial drivers of home values in Houston are location and schools. If you are considering selling your home this year, the spring market will be ideal for finding the best price.
Do you think housing inventory will increase this year?
Overall, inventory will increase this year for the Houston market in general. We have already seen that trend in Q3 & Q4 of 2022 and expect a rise in inventory with the start of the spring buying season upon us. Highly coveted areas still and will continue to have low inventory rates as those are the most desirable. The lower entry price points in areas like the Memorial Villages will still experience a competitive market; however, they may be less competitive than we were seeing in 2022. mmiller@compass.com, sarah.Lebrooksstokes@compass.com
Le Nguyen
Century 21 Top Realty, 281-818-8177
What areas of Houston are hot right now, and what areas do you think will emerge in five to ten years?
As Houston grows and develops, we will see a migration from inside the loop to outwards. Spring Branch will continue flourishing as the area develops parks, walking trails, local restaurants, and bars. West Memorial will start to gain attention as builders are moving west as land prices have increased in desirable Memorial areas. Other areas to watch are the Heights and Garden Oaks/Oak Forest, which have seen considerable appreciation in the last few years.
What are essential resources buyers should use when looking for a house?
The most important resource is their realtor. Their realtor can look up the facts of the home, history, and condition before the buyers even see it. Realtors have access to so much information that we can share with our clients. If buyers find a home, no matter from where they should send it to their realtor to do the leg work – we are licensed to act in our client's best interest. lerocks.c21.com
Martha White
BHGRE: Gary Greene, 713-825-6295
What is your favorite thing about being a real estate agent in Houston?
Being a native Houstonian or second-generation Houstonian, my grandparents moved here from East Texas in the 1920s. My entire family and seven grandchildren live in Houston, so it is a very special place for me. I adore sharing its history, unique locations, fabled past, and energetic present and future with everyone.
Why is it important for you to be invested in the Houston community?
Being a passionate native Houstonian makes me want to give back to our city and community. I am on the Board of Directors for Camp For All, a member of the Junior League of Houston, a member of the Piney Point Beautification Committee, and an active supporter of Spring Branch ISD schools. Houston is my hometown. It has changed and grown, but Houston will always be where I was born, raised, and live with my family, children, and friends. It's a huge city that still feels "small" in some ways. mwhite@garygreene.com