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March 21, 2008

Don't be confused about the Energy Corridor . . .

Today's market condition update for the Energy Corridor shows the $500-$599K market to be "normal" for the first time in recent memory but this will likely not be the case for long. For the last several years this area (zip code 77079) has been one of the most difficult for buyers with housing inventories very low month after month. Why? There are millions of square feet of office space nearby that is home to companies such as BP, Shell, ExxonMobil, ConocoPhillips, Citgo and others. Their employees transfer into Houston from all over the world, resulting in a very active housing market and one that can be very difficult for buyers. The best thing to do is move into temporary housing for at least a few weeks, wait for new listings to come on the market and be the first to see them with your agent! With a little luck, you'll end up in an A property in the Energy Corridor.

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