Houston’s Real Estate Market is in Good Shape

Houston’s economy is largely tied to the oil industry, and despite the drop in oil prices the overall economy is doing well. Houston is the global capital of oil field technology, and the 55 percent drop in oil prices from a year ago is a concern for the local economy. Job growth has been flat but it is not seen as a negative because for the past several months, job growth has been close to all time highs.

July of this year was a good month for Houston’s housing market. Single family home sales reached 8,147 which was a record high for volume in one month, and pending sales for the same month were 7,959 which is up over four percent from the same time last year. Houston’s housing inventory is good but below the national average. Currently Houston’s housing inventory will last 3.4 months whereas the national average is at five months.

The commercial real estate market is also doing well and many investors are taking advantage of Houston’s good economy and job market. Haidar Barbouti has been investing in shopping centers, office buildings, condominiums and land in the Houston market since 1986. Haider is a Columbia University educated commercial real estate investor who is the owner of highland Village Shopping Center in Houston that he acquired in 1990. Highlands is an upscale shopping center that has stores such as Crate & Barrel, Pottery Barn, Williams-Sonoma and many fine dining restaurants. Houston’s healthy job market and economy has provided individuals and families with the income to be able to shop at these types of businesses.

Houston’s real estate market continues to improve for home buyers and investors such as Haidar Barbouti. Although Houston is largely dependent on the jobs and revenue created by the oil industry, its economy is becoming more diverse with a growing healthcare and technology industry. The decline in oil prices may still have an effect on the job and real estate markets but for now, Houston can enjoy having one of the best local economies in the U.S.

Haidar Barbouti Invests in What He Loves

To many people, a job is a job. They make investments and go to work because they have to pay the bills, and that’s just one way to do it. However, for Haidar Barbouti, life is about passion and excitement. He wants to do the things that he loves, and he wants to invest in the things that he cares about. If those things help him make a lot of money, so much the better, but he’s not just in it for the money. He is motivated by so much more than that. It’s possible to see this outlook in everything that he does.

Take, for example, the Highland Village Adoption Center. This is an animal adoption center, and Barbouti just loves animals. He loves pets, and it pains him to see that some pets are without homes. At the same time, he knows that not everyone can afford to buy purebred pets, with their incredibly high costs. As such, his adoption center works to help on both ends. It saves the animals that would otherwise have nowhere to go, keeping them off the streets and out of kill shelters, and it also provides a way for people who want pets to get them for less. Everyone wins.

Another example is Up Restaurant, which Barbouti owns. Just hearing him talk about it shows you how much he cares. He has family values, wanting to provide food that goes more along the lines of traditional dishes. He passionately despises trends, and he even went so far as to call tapas “leftovers” that had been thrown together on a plate. He said that many fancy restaurants used painted plates and other such practices to give out food that looked good, but they focused so much on the presentation alone that it wasn’t actually good food. At Up, he has thrown all of that aside and focused on making good food that people want to eat. It is an upper-class restaurant, but it avoids all of the negatives and just indulges in the things Haidar Barbouti cares about.

This has been his outlook for his entire life, and it continues to drive him. Barbouti won’t step back from his interests and do things just because of the money there is to be made. He knows he can only really be happy if he cares about what he is doing, but he has enough business sense to make those things profitable.