“Master-planned communities are where people want to be,” he said. “They’re doing better, because they have all the amenities.”
He said that Bridgeland was up 40 percent in new home sales last quarter. He added that each master-planned community seeks to offer unique features.
“Having all these neighborhoods in one area is a big deal,” he said.
Mulholland said the slump in the oil business may have translated to lower home prices but only in comparison to the higher cost for houses last year.
“Pricing has kind of leveled,” he said. “But it hasn’t dropped a lot, which is amazing. With oil prices being low, people think they’re going to get all these great deals, but there still has not been that big of an effect.”
Mulholland said that homes are also staying on the market longer than they were a year ago.
“But I’m not seeing an uptick in foreclosures or short sales, which I think shows that the market is still pretty healthy,” he said.
He credits quality schools and increased transportation as bolstering Cy-Fair’s continued popularity.
“People want to be here,” he said.
He still cautions his clients to be prepared to make an offer on a house they like or risk losing it to another homebuyer, especially for properties priced under $200,000.
“Those are going fast,” he said. “I have some clients who have learned that the hard way.”
Mulholland said that getting the home in good condition before it goes on the market is a must.
“Pricing right is also important,” he said. “There aren’t as many multiple offers or people coming in over price.”
He cautions homeowners against placing a high price on properties.
“People think they need negotiating room,” he said. “The problem is you end up getting less showings. The house stays on the market and then people start thinking there’s something wrong with it. Ultimately, you end up selling the house for less than if you had just priced it right in the beginning.”