Based on my previous post here at the Houston Fine Homes Community real estate blog, you already know foreclosures are now a reality in our Houston real estate market. The impact of foreclosure properties has been minimal to date. It remains to seen how these properties will impact future sales.
Our team has a beautiful listing on the market in the desirable Houston neighborhood of Bellaire at 5107 Evergreen Street for $349,900. A couple of blocks over at 5312 Evergreen Street there is an “REO” (real estate owned by a bank) property on the market priced at $846,000. This home is obviously quite a bit larger and newer than the property our team has listed for sale. This 4 bedrooms/6 bath home has over 4619 square feet. Other bank owned properties for sale in Bellaire include listings at:
- 4703 Pine Street
- 4911 Holly Street
- 4628 Cedar Oaks Lane
Wide Choice of Price Points in the Neighborhood of Bellaire
If you are familar with the Houston neighborhood of Bellaire you already know that values here vary a great deal. The typical price range in Bellaire is from $200K to $3M. The primary reason for the wide variety of home values includes:
- Tear-down properties
- Desirable lot sizes to accommodate larger in-fill luxury homes
- Many remodeled homes in the Bellaire neighborhood and expansion/updating of existing Bellaire properties
- Excellent school district (Houston Independent School District (HISD)
- Many conveniences located nearby
- Excellent access to other areas of Houston with I-610
Houston Home Buyers on the Prowl?
If you are of the opinion you can swoop down and steal a Houston property, our market is by no means in a desperation mode. Are there some great buys to be had in the Houston market? I would venture to say there are. Those qualified Houston home buyers who have excellent credit scores and cash in hand in an excellent position and now is as good a time as there ever was to secure the home of your dreams. Jim and I would be happy to help you through the potentially difficult transaction of buying a short sale or foreclosure property.
How do you think foreclosure homes are making a difference in your Houston neighborhood?
Until my next post,