HOUSTON (By Dale King) – Houston REALTORS® closed out a record year in 2016 despite a rocky local economy and turbulence in the energy sector. A total of 76,449 single-family homes sold during the year, surpassing the previous record set two years earlier. With market confidence rising, Cindy Hamann began her term in 2017 as chair of the Houston Association of REALTORS® (HAR).
A native of Houston, Hamann serves as vice president of recruiting and growth performance for Heritage Texas Properties. She is a licensed Texas broker with nearly 22 years of experience. In addition to her leadership focus on recruitment and expansion, she splits her time between Heritage Texas Properties offices in The Woodlands and Vintage Park, where she helps oversee residential sales activity in those markets. Over her career she has earned multiple awards and developed clear views on the industry, which she shared in a recent interview with RealtyNewsReport.com.
Realty News Report: What impact do you think the Trump Administration will have on the real estate market, locally and nationally?
Hamann: Many potential buyers were waiting on the outcome of the election before making decisions. With the Federal Reserve starting to raise rates — the Fed increased rates by a quarter point recently — we’re seeing buyers return to the market. November 2016 was a strong month, and the full year outperformed 2015. People are realizing that life goes on regardless of political leadership. Even though rates have ticked up, it’s not too late to buy. In the late 1980s we saw mortgage rates near 18 percent, so today’s rates remain historically low. First-time buyers who have been waiting for extra amenities should consider buying now, because future choices may be more limited. Also, Texas still offers substantial value; buyers generally get more home for their money here than in many other states.
Realty News Report: Despite the drop in oil prices, Houston just completed a record-setting year for home sales. Will this continue in 2017?
Hamann: Yes. The rental market is saturated and many leases will come up for renewal. As interest rates rise, more renters are likely to move into homeownership, which should drive another strong year for sales. Houston continues to attract households and companies — not only in energy but also in sectors such as healthcare. We have a steady relocation market, and many firms unrelated to oil are choosing Houston as well.
Realty News Report: What is it about Houston that attracts people?
Hamann: Affordable housing and a broad industrial base are key draws. The city offers a diverse range of activities and amenities: major sports teams, a vibrant dining and nightlife scene, and cultural attractions. As a native Houstonian, I’m biased, but the city’s variety and affordability make it appealing to many.
Realty News Report: You said you got into the real estate business “by accident.” Can you explain that?
Hamann: Early in my career I worked for small energy companies and experienced several layoffs. I planned to be a stay-at-home mom, but a friend employed in relocations asked me to clean houses. I spent about two years cleaning houses before receiving an offer to manage a branch office. From there I became passionate about real estate. The industry enabled me to support my family as a single mother and to send all three of my children to college debt-free.
Realty News Report: Can you describe a day in the life of Cindy Hamann as HAR chair?
Hamann: The role is very active. Serving as chair follows years of volunteer leadership — typically five positions on the executive board prior to becoming chair. HAR is one of the strongest REALTOR® associations in the country. A typical day includes returning calls, conducting interviews, discussing industry trends, and communicating the tools and resources HAR provides to its roughly 36,000 members. I enjoy educating members about market conditions and mentoring new leaders. Success in this field comes from hard work, integrity, and always putting clients’ best interests first.
Realty News Report: Which Houston neighborhoods currently attract buyers?
Hamann: Popular areas include The Woodlands, The Heights, and neighborhoods inside the Inner Loop. Buyers are also moving into suburbs and nearby communities such as Pearland, Clear Lake, Oak Forest, Timbergrove Manor, and Memorial.
Realty News Report: Is the market being influenced by Millennials and seniors?
Hamann: Millennials are a factor, but many are postponing homeownership due to student debt, lifestyle choices, or staying with family. When they start families and settle down they tend to favor urban-core neighborhoods. Seniors also influence the market; many are downsizing into smaller homes, senior communities, or assisted living, yet they still often qualify for 30-year mortgages. Both groups shape demand in different price brackets and housing types.
Realty News Report: What are buyers looking for today compared with years past?
Hamann: Today’s buyers prioritize homes that fit their lifestyles. Formal dining rooms and living rooms are less important; open floor plans that combine kitchen, family room, and den spaces are popular so families can interact more easily. Yard space remains important — even if a property has a pool, buyers often want a usable yard or proximity to parks and dog parks. Above all, price, condition, and location drive purchase decisions. I always advise hiring a full-time professional REALTOR® who knows the local market; the market itself ultimately sets prices.
Realty News Report: What do you expect for the Texas residential market in 2017?
Hamann: I expect a strong year for Texas, especially the greater Houston area. The market will likely balance itself rather than favor buyers or sellers. There is notable demand for affordable starter homes in the $200,000 to $300,000 range, and builders are responding by increasing production of those price-point homes. Overall, I believe 2017 will be a positive year for housing in our region.
Jan 18, 2017 Realty News Report Copyright 2017