It’s hard to believe that just seven months ago, Hurricane Harvey struck Texas, damaging thousands of homes, leaving families distraught, devastated and unsure of what the future may hold.
Houston in particular experienced massive devastation, but, true to the Texas way of life, the home investment community stepped up to help. They purchased flooded homes, made the necessary repairs and ultimately transformed Harvey-damaged neighborhoods in a matter of a few months.
Assessing the Immediate Aftermath of Harvey
Houston is a city with a high frequency of flooding, and many home investors have seen several major floods before Harvey, including Hurricane Ike and the Memorial Day and Tax Day floods. But none of those storms had the level of impact Harvey brought to our community.
Homes throughout the city, regardless of their flood designation, were severly damaged. The New York Times shed some light on this situation in a recent article and specifically asked Big State’s founder, Brian Spitz, about home investors’ efforts across the greater Houston community during the first 90 days after the storm. With a focus on the Canyon Gate subdivision in Katy, TX, Brian stated the following in that recent New York Times article:
“Canyon Gate looked like a war zone after the storm. I’ve never seen anything like it, and this is a city with a high frequency of flooding. In a place like that, we’re like the first responders, critical to getting the economy moving again, equipped to take on the risk.”
The home investment community overall saw an uptick in flooded home transactions because they were the first group to respond. Thanks to real estate experts throughout the city, homes that were nearly destroyed a few months ago are now repaired and ready for new Houston homeowners and renters.
A devastating hurricane like Harvey is a life-altering event where the emotional, psychological, financial and physical trauma persists for months, displacing thousands of families, leaving them in need of assistance and relief. Some decided to sell their homes immediately after the storm, while others wanted to repair them.
Unfortunately, many of these individuals in particular were swindled by unqualified contractors, also known as “storm chasers.” Now, seven months later, these particular Houston homeowners are contacting home-buying companies and home investors to purchase their flooded home because they struggled with the upkeep, construction schedule, insurance claims and how to pay for it all.
Doing Our Part to Help with the Hurricane Harvey Recovery Efforts
Houston bounced back quickly from Hurricane Harvey, and this could not have happened without the involvement of Houston’s large investment community. The recovery process would have taken much longer; homes would have rotted, unremeditated properties would have permanent mold damage and more Houston homeowners looking to sell their home quickly would have fallen victim to those “storm chasers.”
The New York Times reporter spoke with Bernadette Leaney, a Houston resident and president of the homeowners’ association in Canyon Gate. Bernadette’s home flooded during Harvey, and she credits investors for salvaging and rebuilding her neighborhood.
Big State Home Buyers purchased 150 homes in the first 90 days after the flood; in fact, one of our first closings after Harvey was a flooded home in the Canyon Gate subdivision. Big State has 16% of the total home-buying market in Houston, and our volume of business rose 40% in 2017 following the storm. For 90 days after Harvey, 80% of our business was flooded homes.
The progress that continues to happen in our city, whether it’s homeowners who want to remodel or sell their home, signifies that Houston is on the right track to full recovery. We are strides ahead of where our founder expected us to be seven months ago when it comes to Hurricane Harvey recovery efforts.
Even so, people who have started the repairs are becoming tired of the process and instead choosing to sell their home as a way to eliminate the burden. At Big State Home Buyers, our primary goal is to provide you with a solution to your problem. Our compassionate sales team understands the severity of your situation and their goal is to make this process as easy and convenient for you as possible.
At the end of the day, you can rest assured knowing our team will handle every detail, allowing you to move on with your life to better days.