For people like Al Hartman, real estate is a way of life. Whether it is to make their own investments, to purchase a family home, or to help others with these things and make an appropriate proposition on a purchase price, is something that consumes them on a daily basis. Hartman is now at a point where he can look at a photo of a property in Houston and know what it is worth almost instantly. And people have faith in his decisions and appraisals as well. However, he feels that people should not simply take his word for things, but rather investigate Houston real estate statistics for themselves.
Al Hartman on Houston Real Estate Statistics
Houston is a highly volatile area when it comes to real estate. This is mainly because prices of properties are influenced heavily by what happens in local events. Unsurprisingly, the global recession had a huge impact on realty prices in Houston. However, today, things seem to be going better again and it looks as if real estate professionals are once again more interested in local statistics rather than global economic events. This also means the lending environment is becoming slightly friendlier.
Statistics matter because they provide a numerical snapshot of deals that have been made in the city, and that snapshot can be used to predict what will happen with a similar deal. They are based on case studies that realtors can review to make appropriate decisions. Al Hartman, however, believes that anyone looking at purchasing a house should take a look at those statistics, as it will enable them to make their own judgments in terms of setting an asking price or making an offer. This is true for residential and commercial properties alike, regardless of whether they are bought for personal use or as an investment.
The real estate statistics available about Houston are vital to help individuals determine how much risk they can take. In essence, it is a snapshot but it actually allows them to see the bigger picture. Not just that, statistics can be used to drive preference as well. For instance, if the chance of profitability is statistically good, then it is more likely that a client will be interested in it and have faith in their ability to make it work. Statistics, therefore, must come from reliable sources as they are used to make important financial decisions.
According to Al Hartman, Houston real estate statistics are important because they create a real view of the different deals that have been made. Additionally, the provide an overview of more specific properties, showing how often they were bought, sold, modified, and more. Statistics are complex calculations and pieces of information that not everybody can instantly understand. However, they can be turned into pie charts and other such visual tools to ensure even laymen are able to grasp what is likely to happen. This is vital before they agree to invest any money, as the risk of losing it all is very real.