HOUSTON—Homes across the Houston area are selling almost as soon as they hit the market.
Realtors call them flash sales and one woman’s home sold in just four hours.
“Within four hours of putting the house on the market I got a phone call from her, and we had an offer,” said Beth Robbins, a Kingwood resident.
Realtor Robin Baily says more and more houses are going on the market and under contract within 24 hours.
“I don’t know how to describe it except flash,” said Baily.
Sellers are getting the deal of their dreams.
“That and more, they get at least their list price,” Baily said.
If you’re selling a home, this is your market. In fact, the Houston area ranks third in the nation for flash sales.
When you’re on the buyers' end, you’re frantic, like Kathryn and Louis Flory.
“That was actually our biggest issue,” Louis Flory said. “We actually saw 12 homes go on the market and sell in a day.”
So when they found their dream home they knew they had to offer the right price.
“We bid and then we actually had to pay a little more than the asking price to secure the property,” he said.
Tom Anderson, with Martha Turner properties, said the phenomenon is twofold. Home construction all but stopped during the housing bust in 2008, but recently thousands of people have relocated to Houston for jobs and that has created the great demand for homes.
He offers this suggestion to buyers:
“Look quickly, make decisions quickly and make offers,” he said.