The president of Prime Capital Corporation in Houston, Jerald Turboff oversees and negotiates real estate transactions. Working in both the commercial and residential sectors, Jerald Turboff and his company provide development assistance, equity, and asset management services.
Unlike many cities across the United States that experienced the pains of the boom-and-bust housing cycle of the 2000s, Houston's real estate market has remained relatively stable. Until recently, developers and homeowners continued to benefit from the undeveloped land and lax zoning restrictions that have played a significant role in keeping housing prices steadily rising. Experts report that in the last several months home builders have fallen behind the demand for new homes and the real estate market has started to surge.
Although the Houston metro area still features large tracts of undeveloped land, developers have encountered problems securing equity to purchase this raw land. Now, instead of turning to banks, many developers have cultivated partnerships with home builders and private equity firms to fund infrastructure projects that will prepare land for construction. Despite these challenges, the Houston metro area awarded more home building permits during the first half of 2013 than any other metro area in the country: over 25,000.
Unlike many cities across the United States that experienced the pains of the boom-and-bust housing cycle of the 2000s, Houston's real estate market has remained relatively stable. Until recently, developers and homeowners continued to benefit from the undeveloped land and lax zoning restrictions that have played a significant role in keeping housing prices steadily rising. Experts report that in the last several months home builders have fallen behind the demand for new homes and the real estate market has started to surge.
Although the Houston metro area still features large tracts of undeveloped land, developers have encountered problems securing equity to purchase this raw land. Now, instead of turning to banks, many developers have cultivated partnerships with home builders and private equity firms to fund infrastructure projects that will prepare land for construction. Despite these challenges, the Houston metro area awarded more home building permits during the first half of 2013 than any other metro area in the country: over 25,000.
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