Latest news with #Schwenk
Miami Herald
12-05-2025
- Business
- Miami Herald
Texas Housing Market Sours After Homeowners Are Given Bad Advice
The Texas housing market is facing growing challenges after a wave of former Airbnb properties flooded the market, making it harder for sellers to compete. According to Galveston real estate agent Tom Schwenk, many investors who tried to capitalize on the opportunities the short-term rental market were mistakenly advised and purchased houses in less popular tourist destinations. These homeowners, he said, are now struggling to sell their properties. 'Galveston is a lovely place,' Schwenk told the Houston Chronicle, 'but we're not the Hamptons.' Surging inventory across the Texas housing market signals a steep decline in competition. While the shift may give buyers an edge with potential price drops, it poses new challenges for homeowners and investors trying to sell or lease their properties. The number of new home listings in Galveston has risen to 828 in the first quarter of 2025 from just over 500 last quarter, according to the Chronicle's analysis of data from the Houston Association of Realtors (HAR). In its most recent housing market update, HAR described the supply of homes in the Greater Houston market as 'great news for prospective buyers,' with nearly 33,000 available on the market, the highest point since June 2011. The trend continues across the state, with the number of listings surging to 123,237 in April from 95,156 last year. However, the oversupply has created challenges for sellers and those seeking to rent out homes purchased during a COVID-19 pandemic-era buying frenzy, Tom Schwenk, the owner/broker of Coldwell Banker TGRE, told the Chronicle. According to real estate brokerage Redfin, homes in Galveston are on the market for an average of 105 days before purchase, up from 83 days last year. But the oversupply has not yet translated into a sharp drop in median home prices across Texas, which would signal the market entering 'correction territory.' Shae Cottar, regional director for brokerage platform LPT Realty,wrote in early April: 'Lower mortgage rates are giving Houston homebuyers a sense of optimism, but many are still proceeding with caution. It's important to acknowledge that current economic headwinds, including the impact of new tariffs, are putting downward pressure on interest rates. These lower rates, coupled with growing inventory and moderating home prices, create an opportunity for both buyers and sellers.' Jef Conn, chairman of Texas REALTORS, told Ramsey Solutions in January: 'We have seen listings taking longer to sell, so homes need to be market-ready and priced well in order to attract an offer. Buyers generally have more choices and a little more time to make decisions than a few years ago.' Marco Santarelli, founder of Norada Real Estate Investments, wrote on Sunday: 'The dramatic increase in inventory, coupled with clear signs of prices dropping and underlying overvaluation, strongly indicates that the Texas housing market is undergoing a significant correction. It's a necessary adjustment after a period of unsustainable growth. While the exact magnitude and duration of the downturn remain to be seen and could be influenced by broader economic factors like the energy sector, the direction is clear: the Texas housing market is cooling down, and prices are finding a new level.' House prices could soon react to the surge in inventory, according to real estate expert Nick Gerli, whose analysis suggests that homes are overvalued by about 17.7 percent across Texas, and he predicted home prices to drop by 4.0 percent over the next 12 months. Related Articles Greg Abbott Says All Construction Halted for Muslim 'EPIC City'Alisa Petrov: Police Expand Search for 'Endangered' Girl to TexasTexas Secures Historic $1.38 Billion Settlement With Google: What to KnowTexas Child Marriages Could End This Year 2025 NEWSWEEK DIGITAL LLC.
Newsweek
12-05-2025
- Business
- Newsweek
Texas Housing Market Sours After Homeowners Are Given Bad Advice
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. The Texas housing market is facing growing challenges after a wave of former Airbnb properties flooded the market, making it harder for sellers to compete. According to Galveston real estate agent Tom Schwenk, many investors who tried to capitalize on the opportunities the short-term rental market were mistakenly advised and purchased houses in less popular tourist destinations. These homeowners, he said, are now struggling to sell their properties. "Galveston is a lovely place," Schwenk told the Houston Chronicle, "but we're not the Hamptons." Why It Matters Surging inventory across the Texas housing market signals a steep decline in competition. While the shift may give buyers an edge with potential price drops, it poses new challenges for homeowners and investors trying to sell or lease their properties. A for sale sign is displayed near a home on April 24, 2025, in Austin, Texas. A for sale sign is displayed near a home on April 24, 2025, in Austin, To Know The number of new home listings in Galveston has risen to 828 in the first quarter of 2025 from just over 500 last quarter, according to the Chronicle's analysis of data from the Houston Association of Realtors (HAR). In its most recent housing market update, HAR described the supply of homes in the Greater Houston market as "great news for prospective buyers," with nearly 33,000 available on the market, the highest point since June 2011. The trend continues across the state, with the number of listings surging to 123,237 in April from 95,156 last year. However, the oversupply has created challenges for sellers and those seeking to rent out homes purchased during a COVID-19 pandemic-era buying frenzy, Tom Schwenk, the owner/broker of Coldwell Banker TGRE, told the Chronicle. According to real estate brokerage Redfin, homes in Galveston are on the market for an average of 105 days before purchase, up from 83 days last year. But the oversupply has not yet translated into a sharp drop in median home prices across Texas, which would signal the market entering "correction territory." What People Are Saying Shae Cottar, regional director for brokerage platform LPT Realty, wrote in early April: "Lower mortgage rates are giving Houston homebuyers a sense of optimism, but many are still proceeding with caution. It's important to acknowledge that current economic headwinds, including the impact of new tariffs, are putting downward pressure on interest rates. These lower rates, coupled with growing inventory and moderating home prices, create an opportunity for both buyers and sellers." Jef Conn, chairman of Texas REALTORS, told Ramsey Solutions in January: "We have seen listings taking longer to sell, so homes need to be market-ready and priced well in order to attract an offer. Buyers generally have more choices and a little more time to make decisions than a few years ago." Marco Santarelli, founder of Norada Real Estate Investments, wrote on Sunday: "The dramatic increase in inventory, coupled with clear signs of prices dropping and underlying overvaluation, strongly indicates that the Texas housing market is undergoing a significant correction. It's a necessary adjustment after a period of unsustainable growth. While the exact magnitude and duration of the downturn remain to be seen and could be influenced by broader economic factors like the energy sector, the direction is clear: the Texas housing market is cooling down, and prices are finding a new level." What Happens Next House prices could soon react to the surge in inventory, according to real estate expert Nick Gerli, whose analysis suggests that homes are overvalued by about 17.7 percent across Texas, and he predicted home prices to drop by 4.0 percent over the next 12 months.
Yahoo
17-03-2025
- General
- Yahoo
Commissioners thank teacher and business for keeping county clean
POTTSVILLE — Schuylkill County Commissioners recently commended a volunteer and a business for the work they do to keep the community clean. Kaye Schwenk, a biology teacher and biology club adviser at Schuylkill Haven High School, and Hydro-Extrusions North America, a business in Cressona, were both thanked for their efforts. 'Schuylkill County is a great county,' said Commissioner Larry Padora. Schwenk, who received the Volunteer of the the Year award, is one of seven volunteers to receive the 2024 award from Keep Pennsylvania Beautiful. Recipients get a certificate of recognition and glass tumblers made from recycled bottles. Hydro, which received the Community Partner Award, is one of seven community partners statewide to receive the honor, a certificate of recognition and a plaque from Schuylkill Keep It Pretty (SKIP), an affiliate of Keep Pennsylvania Beautiful. Mandy Fitzpatrick, chairperson of SKIP, said Schwenk has contributed to the betterment of the county by her numerous efforts. Among her many accomplishments are participating for 24 years in highway litter cleanups in the county, leading tree plantings for 12 years with the Pennsylvania Game Commission, and coordinating the Pennsylvania Fish and Boat Commission's trout classroom program and trout stocking efforts with the Schuylkill Headwaters and Schuylkill Haven Recreation Commission. Hydro, which has been participating by adopting a highway for more than 20 years, consistently sponsors events in which employees participate in litter cleanup. Employees collected 57 bags of trash in 2024 during fall cleanups along Route 61, according to a press release from SKIP. The company also has recycling initiatives and community sponsorships. Residents can join in spring cleanups April 26 through May 4 in Schuylkill County. Supplies will be provided. Email skiplitter@ for more information.
Yahoo
30-01-2025
- Sport
- Yahoo
GCMS High School welcomes new assistant principal, athletic director
GIBSON CITY, Ill. (WCIA) — The Gibson City-Melvin-Sibley School Board has approved the hiring of GCMS High School's next assistant principal and athletic director. WCIA's partners with the Ford County Chronicle reported that the board announced in their Wednesday meeting Michael Schwenk would be replacing the retiring Mike Allen. Superintendent Jeremy Darnell said Schwenk is a former GCMS Elementary School physical education teacher who spent the last three years as a dean of students at Prairie Central High School in Fairbury. Vermilion Advantage among community organizations left worried after temporary federal funding freeze Darnell also said Schwenk 'gained invaluable experience' in 'behavior management, teacher evaluation, supervision and many other administrative duties that set him up for great success at GCMS.' Schwenk's contract is for three years with a starting salary of $92,000. 'This willingness to expand his experiences at another district and grade level allows him to bring in a diverse perspective to add to our team,' Darnell said. 'More importantly, Mr. Schwenk is a compassionate, hard-working human being who will serve our kids, coaches and community with a kind heart and high expectations.' The Gibson City Melvin Sibley Schools also put out a Facebook post welcoming Schwenk into the new positions for the 2025-26 school year. He will officially start in his new roles on July 1. For more information, visit the Ford County Chronicle. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
