HOT TRENDS
Five Things You Didn’t Know About B/CS Real Estate
By DANIELLE ANTHONY
B
etween incoming students and first
time home buyers, Bryan College
Station is rapidly growing. Many people
have expectations about the B/CS
housing market, but there are many
aspects of B/CS real estate that buyers
do not know about. So, whether you are
looking for a new house or not, here are
five things you might not know about
B/CS real estate.
1
Small Builders Although many people
move into the area wanting tract
housing (identical houses built in a
subdivision), the new home market in
B/CS is almost exclusively a local market
with small and medium custom builders,
according to Chief Economist Dr. Jim
Gaines. There are few subdivisions in
B/CS that have tract housing, but these
homes are built by local builders. The
B/CS area is not big enough to attract
publicly listed builders, so the builders
in the B/CS area are considered small or
medium by national and state standards.
2
Seller’s Market “We are currently
in a seller’s market, which means
the time it takes to sell a home is less
than 6 months. If it was more than 6
months it would be a buyer’s market,”
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INSITE September 2017
says Cherry Ruffino, broker and owner
of Cherry Ruffino Realtors. B/CS is in
extreme need of affordable housing for
first time buyers ranging from $120,000
to $220,000. This shortage of affordable
housing drives up the price of homes
and many often receive multiple offers,
which makes it more difficult for first
time home buyers to purchase a home.
3
Competitive Market “People come
into Bryan and College Station
expecting to get a bargain, but that
generally doesn’t happen here,” says
Lynn Roelke, realtor with RE/MAX
20|20. Because of the competitive
market, the sales price on a home is
generally close to 99 percent of the
asking price. Buyers have to be ready to
see the house that day and make an offer.
“It is best to talk to a lender before going
to see any houses,” suggests Roelke.
4
Distinct Market There is a distinct
market between Bryan and College
Station. “Although we are twin cities and
slap right up against each other, there
is a distinctive feel between the two,”
says Dr. Gaines. Between the current
housing and the new housing that is
being developed, the distinction between
the neighborhoods in Bryan and the
neighborhoods in College Station is quite
clear. Many people still view College
Station as a college town, while Bryan
is viewed as a much more established
regional town.
5
Metropolitan Area “Bryan and
College Station as a collective are
rapidly losing the concept, market, and
feeling of a small town,” says Dr. Gaines.
With more than a quarter of a million
people living here, the two cities have
evolved into a small metropolitan area.
Many people come to the area looking
for the small town feel that is just not
there anymore, according to Dr. Gaines.
Although the area is still relatively small
compared to Houston or Dallas, with
the traffic and population, B/CS has lost
the small-town feel.
Here are some hot spots to watch out for:
• South College Station
• Any area with land
• Anywhere in the Wellborn area
with an acre or more
• The new Lick Creek subdivision is
expected to be very popular. i