Last Thursday, just over a week removed from the brunt of Hurricane Harvey, Boulevard Realty broker/owner Bill Baldwin discussed the reality of Houston’s upcoming real estate issues as the city moves forward after the historically devastating storm. Bill spoke to a packed house at the Astorian lobby, next door to the Harvey Relief Hub that he helped launch as a sort of “one-stop” shop for both those who need help and those who want to help post-Harvey. Hundreds others watched online on Facebook and YouTube as Bill dove into future developmental patterns, home permitting, and more.
The full video of Real Estate After Harvey is above, but below is an overall recap:
Although Bill’s talk touches on a variety of topics all throughout, we tried to divide it up into into six general sections.
Here’s a breakdown in case you want to skip to parts that may interest you more than others.
Comparing impact of Harvey to past floods & looking at the numbers (Start-11:08):
Bill opens with the stark facts:
- More people have died in Houston from flooding than any other city.
- No other urban area has flooded as much as Houston in the last 40 years.
Then, he looks at the numbers (number of homes damaged, amount of rainfall, monetary damage, etc.) for Houston’s major storms/floods from his reference point of when he started his career in real estate back in 1998, encompassing Tropical Storm Allison all the way through Harvey. He then digs even deeper into the Harvey numbers, predicting that 16 months from now, we will look back and feel the gravity that Harvey was in fact the largest, most catastrophic natural disaster in the history of the United States.
Permitting post-Harvey (11:08-17:14):
Bill analyzes the importance of getting a permit for repairs post-Harvey. He goes over what type of repairs you don’t need a permit for and which ones you do need a permit for. He emphasizes that, not only is it critical if you’re doing repairs because of water damage, but also, just in general, for when you are looking to sell your home down the road.
Listings before & after Harvey (17:14-26:45):
Bill breaks down the state of Houston’s real estate market in the immediate aftermath of Harvey, with an eye toward what we can expect in the coming months. He looks at the number of single-family homes for sale and for lease before and after Harvey and analyzes what those numbers mean. Bill advises not to sell in a panic right now, confident that the housing market will rebound and continue to thrive.
Looking at areas most affected & least affected by Harvey (26:45-51:25):
This section takes up the largest percentage of Bill’s talk, as he looks at a map of areas that were most affected by Harvey and talks through what this means for development patterns and pricing in various parts of town moving forward. For Bill, some of the biggest winners were areas that managed to stay mostly dry like Near Northside, the East End, and the Heights. He also brainstorms some potential alternatives to rebuilding in flood prone parts of Houston.
Indicators to watch & advising clients post-Harvey (51:25-1:09:38):
Bill suggests paying close attention to employment and new construction permits in the coming months, as he feels they’ll be strong indicators of where the real estate market is headed. He also offers advice on how realtors can best advise their buyers or sellers in the post-Harvey world of real estate.
Harvey Relief Hub (1:09:38-End):
Bill talks all about the Harvey Relief Hub, a volunteer-led central hub for all relief and assistance in Harvey’s affected region, including donations, volunteers, information, and resources.
We hope you’ll take the time to watch Bill’s presentation as we think it’s an exceptionally helpful resource at a time when many are very uncertain about the state of Houston’s real estate market in the aftermath of Harvey!This entry was posted in Rediscover, Replay, Resources
- Bill Baldwin
- Boulevard Realty
- Garden Oaks
- Greater Heights
- Harvey Relief Hub
- home sales
- Houston Real Estate
- hurricane harvey
- hurricane harvey relief
- hurricane harvey volunteering
- Hurricane Ike
- Museum District
- Near Northside
- real estate