Now What?

Hurrican Harvey has come and gone in Houston. For some, life has returned to normal and for others, life will never be the same again. Our community has come together to help those in need - from rescues in boats, to providing shelter to those who were displaced, to supplying food, water and dry goods, and ultimately helping people rebuild their homes. I am so proud to be with a company such as Keller Williams that has personally done so much with the KW Relief Center and putting together work crews to go out to people's homes. It was such an honor to volunteer with KW after the storm.  I saw first-hand the damage that was done to so many and we definitely count our blessings that my family was lucky enough to dodge this bullet. Many that were looking to buy or sell prior to Harvey are asking themselves, now what?

If you were in the market to buy a new home prior to Harvey and you're wondering if it's still a good time to buy, the answer is yes.  The interest rates are still low and we all know the key to home ownership is low rates. There is also a strong inventory of available homes that did not flood if this is a concern for you. Yes, you can expect these homes to now have a premium, but this should only affect your monthly payment by $10-$20.  I have always told my homeowners to get flood insurance prior to this tragedy and I'm going to hit home that point now more than ever before. Flood insurance is affordable and we now see it's necessary whether you live in a flood zone or not. 

For home sellers that need to sell now, do not despair. We are seeing a rise in investor purchases like never before. New and experienced investors are entering the market to scope out neighborhoods that flooded and they are ready and able to make offers to help you get out of your home. For the homeowners that are forced to simply walk away from your home because it's now inhabitable, there is an FHA disaster loan called the 203H. This loan allows you to buy your next home at 100% with no down payment. For more information on this loan and to see if you qualify, contact your loan officer.

I believe in Houston, our residents and our real estate market. We are already on the road to recovery and the rest of the nation should not doubt our resilience. I don't.