Houston Hurricane Harvey flooding:

Houston crippled by catastrophic flooding with more rain on the way

By Ruthy Munoz and Marianna Parraga

HOUSTON (Reuters) - Houston is facing worsening historic flooding in the coming days as Tropical Storm Harvey dumps more rain on the city, swelling rivers to record levels and forcing federal engineers on Monday to release water from area reservoirs in hopes of controlling the rushing currents.

Harvey was the most powerful hurricane to strike Texas in more than 50 years when it came ashore on Friday near Corpus Christi, about 220 miles (354 km) south of Houston, and has killed at least two people. It has since lingered around Texas' Gulf Coast, where it is forecast to remain for several more days, drenching parts of the region with a year's worth of rain in the span of a week.

Rains have submerged cars and turned freeways into rivers, with more flooding expected when the storm shifts back in the direction of Houston. Harvey's center was 90 miles (148 km) southwest of Houston on Monday morning and forecast to arc slowly toward the city through Wednesday, with the worst floods expected later that day and on Thursday.

Schools, airports and office buildings in the nation's fourth largest city were shut on Monday as chest-high water filled some neighborhoods in the low-lying city that is home to about 2.3 million people.

The metropolitan area, home to 6.8 million people, also is the nation's refining and petrochemical hub, which has been crippled by the storm. Numerous refiners shut operations, likely for weeks.

Torrential rain also hit areas more than 150 miles (240 km) away, swelling rivers upstream and causing a surge that was heading toward the Houston area, where numerous rivers and streams already have been breached. Some areas have already seen as much as 30 inches (76 cm) of rain, according to the National Weather Service.

By the end of the week in some Texas coastal areas the total precipitation could reach 50 inches (127 cm), which is the average rainfall for an entire year, forecasters said.

Harvey is expected to produce an additional 15 to 25 inches (38 to 63 cm) of rain through Friday in the upper Texas coast and into southwestern Louisiana, the National Hurricane Center said.

How to prepare for a hurricane Harvey in Houston;

How to prepare for a hurricane Houston is one of the most populated metropolitan areas in the country and one of the fastest growing, according to the US Census Bureau.

The National Weather Service office in Houston warned flooding and winds could render parts of South Texas "uninhabitable for weeks or months."

And CoreLogic, an analytics firm, said Harvey, which developed into a Category 4 storm on Friday, could bring $20 billion worth of damage to metropolitan Houston alone.

 

Outer bands of Hurricane Harvey swipe Texas as more residents flee

Harris County, home to Houston, has issued voluntary evacuation orders for several communities near Trinity Bay. But Houston itself has not been put under an evacuation order.

"Right now, it appears that the Houston area will be spared the brunt of the hurricane force and the surge that goes along with it," said Gov. Greg Abbott at a press conference. "So that will minimize some of the danger."

Still, the governor encouraged people to consider evacuating.

Hurricane Harvey in Houston

(CNN)As Hurricane Harvey barrels toward the Texas coast, the Houston metropolitan area, prone to flooding and home to more than 5 million people, is bracing for the potentially devastating storm.

Houston's school system has already canceled classes on Monday, the first day of classes. The city's parks and main zoo are closed.

The Houston Dynamo, the city's Major League Soccer team, canceled this weekend's games and Coldplay nixed its Friday night concert, all in preparation for Harvey, which was expected to make landfall by early Saturday.

    Houston's main concern is the risk of flooding. In May, the city was hit by heavy flooding when 240 billion gallons of rain fell on the city. That claimed eight lives, flooded more than 1,000 homes and caused more than $5 billion in damage, according to officials.

    Now the city is staring down Harvey, which Brock Long, director of the Federal Emergency Management Agency, called "the first major hurricane the nation has dealt with since 2005."

    Single Family house in Houston for sale-rent:

    Single-family home sales totaled 8,414 last month, the largest one-month sales volume in Houston’s history and up 8.3 percent from June 2016. Home sales for the first half of 2017 are up 7.4 percent from the first half of 2016. Total property sales also increased 8.3 percent to 9,993 in June.

    The luxury segment — homes priced at $750,000 and above — saw the largest increase in sales, jumping 13 percent year over year in June. That marks the eighth straight month of increases in that segment. Sales in the segment between $150,000 and $499,999 saw increases around 12 percent, and sales in the $500,000-to-$749,999 range increased 6.9 percent.

    Both the average and median price for single-family homes hit all-time highs last month. The median increased 2.6 percent year over year to $239,023, and the average inched up 1.5 percent to $304,155. The total dollar volume of all property sales, however, jumped 10.4 percent to nearly $2.89 billion.

    Forward-looking metrics also remain strong. Single-family pending sales soared 18.9 percent year over year, and total active listings jumped 16.4 percent. Single-family inventory increased to a 4.4-month supply in June, the highest level since October 2012. It’s also up from a 4.1-month supply in May and a 3.9-month supply in June 2016. Months of inventory estimates the number of months it would take to sell all the home listings on the market today based on the pace of sales over the past 12 months. For comparison, nationwide inventory stands at a 4.2-month supply.

    Meanwhile, demand in Houston’s rental market also continued to surge. Single-family home leases jumped 17.4 percent, and townhome/condominium leases skyrocketed 21.3 percent. The average rent was down 4 percent to $1,806 for single-family homes and up 2.5 percent to $1,698 for townhomes and condominiums.

    “June proved to be another phenomenal month for the Houston real estate market with buyers and renters sending volume and pricing into record territory,” HAR Chair Cindy Hamann said in a release. “Between continued strong employment numbers and healthy housing inventory levels, we expect the market to remain vibrant.”

    Houston Real Estate:

    Houston Real Estate Highlights in July

    • Single-family home sales rose for the tenth straight month, up 5.0 percent year-over-year with 7,440 units sold;
    • On a year-to-date basis, single-family home sales remain 6.8 percent ahead of the 2016 volume;
    • Total property sales increased 4.5 percent with 8,821 units sold;
    • Total dollar volume climbed 7.5 percent to $2.5 billion;
    • The single-family home median price remained statistically unchanged at $230,000;
    • The single-family home average price increased 2.4 percent to $299,131;
    • Single-family homes months of inventory grew to a 4.5-months supply, the highest level since September 2012;
    • Townhome/condominium sales fell 9.0 percent, with the average price up 1.8 percent to $201,148 and the median price down 6.2 percent to $150,000;
    • Leases of single-family homes jumped 15.6 percent with average rent down 3.2 percent to $1,815;
    • Volume of townhome/condominium leases rose12.3 percent with average rent down 5.1 percent to $1,546.

    Houston for rent-buy?

    July Monthly Market Comparison

    The Houston real estate market enjoyed gains in most measurements during the month of July, with single-family home sales, total property sales, total dollar volume, average price and inventory all up compared to July 2016, while median price was statistically unchanged.

    Month-end pending sales for single-family homes totaled 7,940, up 9.8 percent compared to last year. Total active listings, or the total number of available properties, jumped 16.7 percent from July 2016 to 44,299.

    Single-family homes inventory grew from a 4.0-months supply to 4.5 months, the highest level since 2012. For perspective, housing inventory across the U.S. currently stands at a 4.3-months supply, according to the latest report from the National Association of Realtors (NAR).

    House for Rent in Houston/House for sale in Houston?

    HOUSTON — (July 12, 2017) — Temperatures weren’t the only thing soaring in June, as home prices and sales volume reached new heights, keeping 2017 on track to be a record year for Houston real estate. The greatest sales gains took place among homes priced from $750,000 and above (categorized as the luxury market), followed by homes in the $150,000 to $249,999 range. June was the eighth straight month that the luxury segment enjoyed rising sales.

    A total of 8,414 single-family homes sold in June compared to 7,771 a year earlier, according to the latest monthly report produced by the Houston Association of Realtors (HAR). That represents an 8.3 percent increase and marks the largest one-month sales volume in history. On a year-to-date basis, home sales remain ahead of 2016’s volume by 7.4 percent. New listings pushed inventory levels from a 3.9-months supply to 4.4 months, the highest in almost five years.

    "June proved to be another phenomenal month for the Houston real estate market with buyers and renters sending volume and pricing into record territory," said HAR Chair Cindy Hamann. "Between continued strong employment numbers and healthy housing inventory levels, we expect the market to remain vibrant."

    The single-family home median price (the figure at which half of the homes sold for more and half sold for less) climbed 2.6 percent to $239,023. The average price edged up 1.5 percent to $304,155. Both figures are all-time highs.

    June sales of all property types in Houston totaled 9,993, up 8.3 percent from the same month last year. Total dollar volume for properties sold in June rose 10.4 percent to $2.9 billion.

    Rent apartment in Houston near Galleria?

     Uptown Houston Galleria area—minutes from Downtown, Uptown and Rice University—Texas tash is your perfect company to find you a place to enjoy world-class shopping, dining, sporting and recreational opportunities, all within immediate reach. Being right at home in Houston means you’ll work just as well as you’ll play since Galleria location offers easy access to Loop 610, Beltway 8, I-10, Hwy 59 and the area’s top engineering, oil, gas and software employers. And so many pet friendly apartmentsmean that your four-legged family members will be right at home, too!

    E1 visa,E2 visa,EB5 visa information

    US E2 Treaty Investor Visa and E1 Treaty Trader visas overview

    In many cases, it may be worth considering the E2 treaty investor or E1 treaty trader visa scheme.  Usually, under the E2 Visa or E1 Visa scheme the business needs to show that it is at least fifty percent owned by a national or nationals on the list of E2 Visa or E1 Visa Countries.  Both investors and employees.of the same nationality can come under these visa schemes.  E2 treaty investor companies may be able to be registered under the E2 scheme with investments of tens of thousands of dollars or less.  This is a much smaller investment requirement than the minimum $500,000 required under the EB5 immigrant investor scheme.  You also do not need to employ many people in the US under the E2 Visa and E1 Visa schemes.  Once the business is registered under the E2 Visa or E1 Visa scheme E2 and E1 employee visas can be obtained much more cheaply and more quickly than say L1 or H1B visas.  E3 visas can only be applied for by Australians.