Market Conditions in 77429>Question Details

Esther Acosta, Home Buyer in Cypress, TX

We have a rental in Cypress,TX and are not interested in selling but would like to know if it is worth it to

Asked by Esther Acosta, Cypress, TX Fri Aug 1, 2008

hold the property if the market conditions could decline further in this area? Would it be wise to consider that if we really didn't have to sell, then stay put?

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Personally, I would keep it if stays rented, makes you money and you don't have another reason to sell (ie. need money for something else) Long term, property in Cypress seems to be a pretty good investment, and there is something to be said for owning real property. Market conditions could always decline, but the market is still pretty strong in the Cypress area. Good property, in a good location, priced properly generally sells pretty quickly, often with multiple offers.
0 votes Thank Flag Link Thu Sep 19, 2013
I recommend that you get connected with a REALTOR that lives and specializes in your area. Good rentals are in high demand these days with a low overall supply. Contact me and we can discuss your situation further.
0 votes Thank Flag Link Tue Jan 22, 2013
Hello Esther,

Send me the adress via email to alfonso@alfonsoparodi.com and I will send you sold and reted comparables.

I hope this helps!
0 votes Thank Flag Link Sat Jan 5, 2013
I have a rental in Cypress as well. I would recommend holding the property as long as you can. I have found that rental values are going up pretty consistently. Let it pay itself off for a while, then sell after researching what is selling in the area.
0 votes Thank Flag Link Thu Dec 20, 2012
Market conditions in Cypress have done very well well this year. Location, Location, Location of course are the biggies. If your rental home is zoned to good schools, the best thing to do is take care of it, keep it updated and clean, and it will continue to lease out.
0 votes Thank Flag Link Fri Jun 22, 2012
Hi Esther.
Cypress is such a large area and encompasses so much new growth, new planned areas as well as large acreage areas, horse properties, mini-ranch styles or established subdivisions with or without HOAs, it's hard to give advice with the information you provided. My daughter attends a college close to Cypress and she's been told that's where the rich people live so your suggestion that market conditions are declining isn't one that's shared by outsiders looking in.

Investment property provides several solutions to an owner. First, it allows them to create an asset out of a liability. If you can't sell a house, rent it. Second, if the owner is looking for additional income, purchasing a home to rent provides a stream of payments abliet with risk of interruption due to vacancy or the possibility of significant repairs. Thirdly, an owner can hope for appreciation and that coupled with passive income can be the pot of gold at the end of a rainbow.

As long as you are maintaining an acceptable ROI, keep the property. After all, Cypress is where the rich people live!
Web Reference: http://www.tishotten.com
0 votes Thank Flag Link Wed Dec 23, 2009
I would recommend that you should hold on to your rental property for the time being. Now is a great time for you to refinance your property possibly and purchase another rental property. Think of the Monopoly game. Buy up as many properties that you can afford. This is a strong buyers market but soon, the tide will turn.
0 votes Thank Flag Link Fri Aug 1, 2008
Hi Esther,

I would hold on to your property. The market will no go down - it si stabilizing and will stay steady for a while. Take another look 10 yrs from now.

Hope this helps.

Juan Carlos
0 votes Thank Flag Link Fri Aug 1, 2008
Esther,
Are the prices declining in the area where your house is. If you see the neighborhood turning to mostly rentals, and people not caring for their yards you may want to sell now. some landlords do not care for their homes and the values do decline.
You can pick up another rental, a HUD owned, a REO, bank owned or distressed sale for another rental in an area that has not declined yet.
0 votes Thank Flag Link Fri Aug 1, 2008
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