Houston’s not-so-hot housing market HOUSTON (September 16, 2014) – With the Houston housing market recording another month of positive sales in July, reaching the highest monthly total ever recorded according to the Houston Association of Realtors (HAR), it is somewhat surprising to learn approximately 14 percent of current properties for sale are vacant. Typically, the places often associated with vacant property problems are older industrial cities in the northeast and Midwest and not booming Houston and its surrounding suburbs. According to a study by the National Vacant Properties Campaigns, properties are often abandoned as a result of metropolitan-wide trends, such as suburban sprawl, job loss and demographic shifts. On an individual level, the most common reason a property is abandoned is that the cost of maintenance and operation exceeds the apparent value of the property. Don McClain of EZHousebuyers has been working with vacant properties through the boom and bust cycles of the Houston housing market for more than 20 years. “People would be surprised to know that my clients come from all walks of life and financial backgrounds,” added McClain. “When they call me, they are typically in drastic situations, whether it be a death of a family member, loss of income or unexpected relocation, among other circumstances,” said McClain. Sometimes, homeowners only have two choices: stay and maintain the home and make mortgage payments, or abandon the property and ruin their credit and home. “This is a story that repeats itself over and over and I feel it’s my job to help them pick up the pieces and get back on track,” he added. Ultimately, a homeowner’s best option is to sell their home as there are so many problems associated with abandoned properties. “It doesn’t matter where the abandoned homes are located,” said McClain. “Ultimately, these homes strain the resources of the local first responders, depreciate property values, reduce tax revenue and attract crime.” McClain added that no homeowner ever wants to be in this situation as the financial repercussions can be overwhelming and added that there are numerous resources in the greater Houston area available to homeowners who have fallen on difficult times. EZHousebuyers is a real estate investment company that specializes in purchasing homes that can no longer be maintained. For more information, contact McClain at 866-910-1186.
Posted on: Thu, 18 Sep 2014 16:10:17 +0000
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