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If you’re getting ready to buy a new house, you’ll want to begin the packing and preparation process as soon as possible. In case of a mix-up with the rest of your packages, or if you don’t plan on unpacking for some time, it’s a good idea to include everything you need for a full week. Feel free to unpack your immediate needs boxes and suitcases, but don’t worry about anything else quite yet. If you’re still in the process of selling your current home, or if you’re actively looking for a new home to buy, you’ll likely need some guidance to make the best decision—and find better deals.

Due to changes in consumer confidence, inventory, interest rates, political conditions, local interests, and dozens of other variables, housing markets increase or decrease in prices, with a general trend toward climbing prices. As more people exit the market and fear spreads, prices begin to plummet, sometimes to a point far lower than the “normal” housing values we referred to earlier. But it’s important to understand that most of these low points are only temporary; even after the crash of 2008, housing prices returned (mostly) to normal within a couple of years. You might notice that housing prices are rising far faster than normal, or that they seem to be outpacing reasonable valuations of homes; for example, your neighborhood might see homebuyers making offers far above the appraised value of homes.

While it’s a good idea to diversify your entire investment portfolio (including assets like stocks, bonds, and commodities), for this article, we’re going to focus exclusively on diversifying your real estate portfolio. New real estate investors focus heavily on residential properties, since they tend to be simpler investments, but as your portfolio grows, you may want to consider buying commercial property. Short-term plays in the real estate market allow you to take advantage of house flipping, or hot rental markets, in the span of a few months, while long-term plays sometimes require you to wait for a neighborhood to grow over the course of years. If you want to get exposure to a broader real estate market, but you don’t want to deal with the hassle of buying a physical property, you could always invest in real estate investment trusts (REITs).

Back in 2014, before oil prices crashed, the city was ranked first in PwC and the Urban Land Institute’s Emerging Trends survey, then subsequently took a tumble, and this year has landed in the middle of the road; the 2020 Emerging Trends report ranks the city #42 out of 80 in terms of its overall prospects. Every real estate market is made up of multiple distinct sectors and in Houston, and while prices for Houston’s luxury properties are falling, apartment rents are set to rise. All those workers need places to live and since 17,600 of those jobs were in professional and business services roles, A-class rentals are likely to continue thriving in Houston; they normally take a hit during recessions, but job growth isn’t slowing either. In a competitive market, management can determine how successful you are at attracting and keeping tenants – and most real estate investors don’t excel in this area.