South Texas REALTORS Facing EPIC Challenges

By
Managing Real Estate Broker with Magnolia Realty ~ Granbury TREC #547752

South Texas REALTORS Facing EPIC Challenges

Harvey Flood 2017 

As a REALTOR who went through the ravages of Hurricane Ike many years ago, these types of disasters affect the real estate industry in a unique way. Obviously, the loss of life along with the loss of hundreds of thousands of homes is devastating. What happens however, after the flood waters recede and the clean up begins?

 

Realtors are faced with not only losing their own home but perhaps their entire inventory of listings. For many agents, they will not only lose their personal belongings, many will also lose their real estate business entirely.  After Ike, many agents in the Houston area were unable to stay in the field.

 

The South Texas areas that have been affected are many! Along our Gulf coast and all the way up to Conroe, there are so many needs. This a huge area!

 

Here are the main issues facing south Texas agents right now:

 

  • Loss of inventory.
  • Current and future real estate business will no doubt be disrupted for many, many months.
  • Once homes are repaired, pricing is now all over the place. Homes that may have commanded a cetain price pre-Harvey will now be facing an entirely new pricing structure.
  • Neighborhoods that experienced flooding will also go through a re-assessment valuation. Knowing which homes flooded and the ones that did not will be critical information to know.
  • Not enough housing right now for displaced people.
  • Rental rates increasing due to demand.

 

As fellow real estate professionals, our Texas Association of Realtors has created a resource page just for our fellow agents.  Many of our fellow agents need our help.  Check out the link for excellent ways to help out.

 

Thank you for all of you who have reached out to help!  The love and support from all over has been so heart-warming to witness.  When we stand together we can take on anything!

 

 

Posted by

     Magnolia Realty Granbury    

"Have you fully lived today?"

   Paula L. McDonald ~ REALTOR®

       Managing Broker ~ Granbury, Texas 

 936-203-0279 Direct

Selling Hood County and surrounding areas!

PaulaMcDonald@MagnoliaRealty.com 

      CNE

Houzz      

 John Maxwell

Farm & Ranch

 


          ABR                 Institute for Luxury Marketing                Institute for Luxury Home Marketing

 

 

Copyright 2017 Paula McDonald

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Debra Leisek 09/23/2017 11:27 AM
Topic:
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Groups:
Texas Real Estate
Bananatude
MONTGOMERY COUNTY TEXAS
BROKER'S BACK PORCH
Crap-Tacular
Tags:
texas real estate
texas realtors
hurricane harvey

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Ambassador
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Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

The webinars have already started about buying low in Houston on flooded homes and flipping them. There are always those who want to take advantage of others misery.

Sep 22, 2017 03:27 PM #2
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Anna Banana Kruchten CRB, CRS, Broker
Phoenix Property Shoppe - Phoenix, AZ
Arizona's Top Banana of Real Estate!

Paula it is still heavy on our hearts all the devastation and chaos that has been going on in so many places. We discussed it often here and wondered what we would do if in the same situation. No home or nearly destroyed home, real estate business at a screaching halt. So many lives are changed forever.

Sep 22, 2017 03:39 PM #3
Ambassador
1,555,946
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Oh my gosh, Paula. I am so sorry. It is difficult to comprehend what you are dealing with - it's mind boggling. Wishing you a fast recovery and shelter from the greedy mongers who move in after a disaster. 

Sep 22, 2017 04:38 PM #4
Ambassador
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Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Paula- I've been so wrapped up in what's happened to Houston after Harvey and my family that I'd not thought about its affect on the real estate market. So many people are trying to get their lives back in order, I can only imagine what it must be like for someone whose home was on the market or for agents whose listings were flooded. 

Sep 22, 2017 04:59 PM #5
Rainmaker
2,412,418
James Dray
Fathom Realty AR LLC - Bentonville, AR
Exceptional Agents, Outstanding Results

Good morning Paula.

We have several agents in the Houston area.  We know they are hurting as well as a lot of others. 

Sep 23, 2017 02:42 AM #6
Rainmaker
969,251
Margaret Goss
Baird & Warner Real Estate - Winnetka, IL
Chicago's North Shore & Winnetka Real Estate

Those are life-changing challenges that most in our field have never thought about. Your post then made me think about all the other industries that have been ravaged and may never recover.  Just so sad and I pray for all Houston residents.

Sep 23, 2017 09:05 AM #7
Rainmaker
522,651
Kathryn Acciari
Cameron Real Estate Group - Shrewsbury, MA
RSPS, SRS, REALTOR(R) Sturbridge-Shrewsbury MA

Entire communities are impacted by the storms this year. I hope that your friends, colleagues, and family members are safe and able to bounce back quickly, Paula. Blessings.

Sep 23, 2017 10:37 AM #8
Rainmaker
1,288,218
Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

Having sold in the Katy market for many years I understand the hardship many of my friends are going through. Terrible. We have some of the same issues in Florida (although my Space Coast was MOSTLY spared).

Sep 23, 2017 10:55 AM #9
Rainmaker
530,366
Debra Leisek
Bay Realty,Inc Homer Alaska - Homer, AK

Thank you so much for sharing this information. It is mind boggling how many issues and hurtles are ahead of you all... I will check the list and share it with others who could maybe help. Please keep us updated on the situation. Wish we could be of more help.

Sep 23, 2017 11:08 AM #10
Rainer
361,059
Raul Rodriguez
Covenant Partners Realty - San Antonio, TX
Looking out for the client's interest and not my p

My son once told me that "if" is the middle word in "life". We in San Antonio may have suffered the same as Houston "if" Harvey had come ashore a few more miles west.

Sep 23, 2017 11:24 AM #11
Rainmaker
610,383
Laura Filip
RE/MAX UTOPIA , Serving all of Texoma - Whitesboro, TX
What can we do for you today?

Thank you for sharing , yes it will be a challenge. But for the most part Realtors are go getters and step around issues all the time. One day at a time and step around figure things out you will get it done. 

Sep 23, 2017 11:38 AM #12
Rainmaker
2,617,896
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

Congratulations on the feature Paula McDonald , i could not imagine. Ones home, their livlihood, all put on hold. 

Sep 23, 2017 12:03 PM #13
Rainmaker
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Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Paula,

Glad your post was featured, you certainly gave us an insider's point of view as to what is happening.  I am sure it will all resolve itself as time goes by.  A

Sep 23, 2017 12:49 PM #14
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Hi Paula

Those of us who have not experienced what you and so many others have cannot even imagine the impact, and the recovery that will take week, months, perhaps years. The impact on all the aspects of the real estate business must be mind boggling. Bravo for TAR providing some helpful resources for those in need.

Jeff

Sep 23, 2017 12:58 PM #15
Rainmaker
149,324
Corey Martin
Martin Presence Group - Ruston, LA
Real Estate and Management Solutions

As with any disaster, now is the time for healing. You all have our prayers. 

Sep 23, 2017 05:52 PM #16
Rainmaker
1,161,439
Kat Palmiotti
Grand Lux Realty, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

I can imagine the rental market would be quite challenging now with so many displaced people who need a place to stay. I hope there are still affordable places left to rent.

Thank you for sharing the link for donations.

Sep 24, 2017 03:11 AM #17
Rainmaker
42,348
Youree Lundy
Keller Williams Advantage III Realty - Orlando, FL
Your Realtor For Life

I am in mid Florida which was hit but not as hard.  Many transactions have been delayed with reinspections, damage, and the like but we are still able to move things along.  South Florida is much worse and similar to Houston and the Islands; those areas will never be the same.  We are reminded daily to count our blessings (whatever they may be) and share with others; this is the reason.  Prayers for all who have been affected by this great tragedy.

Sep 25, 2017 06:35 PM #18
Rainmaker
338,838
John Wiley
Right Move Real Estate Group- EXP Realty - Fort Myers, FL
Lee County, FL Real Estate GRI, SRES,GREEN,PSA

Our hearts go out to the multitude of people that are affected by these massive hurricanes. Families displaced, homes severely damaged or destroyed. Businesses that are closed and workers without pay. 

It has far reaching affects. Add to that the damage done in Florida and the impact on life and economy are multiplied.

It is not a time for despair but for a coming together to find solutions and give hope.

The real estate community can step up and be a catalyst for bringing consumer, government and businesses together in a great Think Tank to find our way forward.

Sep 26, 2017 06:20 AM #19
Rainmaker
1,042,145
Sharon Parisi
United Real Estate Dallas - Dallas, TX
Dallas Homes

Paula, thank you for shedding light on the ongoing needs of those impacted by storm and its aftermath. I have retold the stories you shared with me at the TAR conference.  Those affected by the storm will need our help for months and years to come.  Thursday, my office is hosting a party with a purpose to raise additional funds for  agents in our Houston office. We are also compiling a list of Dallas agents willing to pay 50%-75% referral fees to Houston agents. There are so many ways to help.

 

Sep 26, 2017 09:11 PM #20
Rainmaker
436,410
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Specializing in Brookside, Waldo, Prairie Village

Can't imaging what TX agents are going through right now--esp with those listings that were under contract, buyers who had moving trucks scheduled!  It will be a long time before that is a normal market.

Sep 27, 2017 12:34 PM #21
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Paula McDonald

Magnolia Realty ~ Granbury, TX 936-203-0279
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