Houston land appealing to real estate developers

Houston's economy has made undeveloped land very appealing to real estate developers.Houston's booming economy has not only offered financial stability to many of the city's residents, but undeveloped land in the area continues to attract real estate developers.Specifically, Tomball, which is located roughly one mile from downtown, has experienced a surge in new home builds so far this year, and they are expected to hit the market at the end of September, according to a report from Community Impact Newspaper. Meanwhile, slightly outside the city limits, new Willow Creek Ranch homes will be ready in the latter half of 2013.”The whole area has just busted wide open, and there's a pent up demand for lots in the area due to the fact that The Woodlands will be out of lots in a couple years,” local real estate developer Bob Allen told the newspaper.Meanwhile, fixed mortgage rates have continued to hover near all-time lows, which could give buyers interested in Houston real estate many affordable options.During the week ending September 6, the average rate for a 30-year FRM fell to just 3.55 percent, according to a report from Freddie Mac. In addition, 15-year FRMs averaged 2.86 percent.??????? Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

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