Houston Real Estate Reaps Benefits of Statewide Population Growth

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Texas is Growing

Recently the Forbes.com website reported the top states in our nation to experience an inbound population growth. The Lone Star state was recognized in the top three in growth. From 2000 to 2008, Texas’ population increased by a whopping 16.7%. Many of those individuals and families who moved to Houston. during that time span can be attributed (from our perspective) to Job growth here in Houston in the fields of energy and health care. See my previous post on this topic.

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Categories: Business Concerns, Houston Realtors, Neighborhoods, Relocation

Foreclosure Homes For Sale in Bellaire

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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.

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Categories: Foreclosures and Short Sale, Neighborhoods

Yes – The “F” Word is Used in Houston Real Estate!

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For many consumers just the mention of the “F” word, “foreclosure” and a wave of emotions and fears come to the heart and mind. And rightfully so! Frankly, I find there is a tremendous amount of misinformation in the market place about foreclosures. I also find there is a general lack of understanding and knowledge about the often used terms associated with foreclosure. Hence the reason for writing this post.

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Categories: Foreclosures and Short Sale, Neighborhoods

More Houston Homeowners Are Selling Their “Yard”!

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That’s right! Because of the impact of ever-rising consumer goods, fuel cost and the general “sluggish” state of the Houston economy, more Houston homeowners are hosting yard sells. Many are seeking creative ways to generate cash especially for the upcoming holiday gift buying season. Did you know there are some smart ways to make your Houston garage sale far more productive? Below are a few helpful tips you can use to make your Houston yard sale far more profitable.

Profitable Houston Yard Sale Tips

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Categories: Neighborhoods

MARKET CONDITIONS FOR HOUSTON, TX

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Market Conditions for Houston, TexasReported by

Meg & Jim Zoller of The Zoller Group of Keller Williams Realty, REALTORS

As of May 28, 2008.

As of May 28, 2008.

Current Market Rating: 3

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Buyer’s
Seller’s

Current Price Trend: 3

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Falling
Rising

Note: Due to the large volume of homes sold, I usually need two months to compile data. So in May, I’ll be using March data, obtained from the Houston Association of Realtors.

To date, the mortgage company and loan problems you have been reading about have affected Houston housing much less than most other areas of the country. The year 2007 was the second best year in Houston on record based on the HAR stats. Total property sales were lower in 2007 than in 2006, but total dollar volume was a record high. So in a nutshell, less homes were sold, but for more money.

This trend has continued in 2008. March 2008 total property sales declined 17.3 % from March 2007, the seventh straight month of decline. The good news is that in Houston the March 2008 average sales price increased over last year by 2.0% to $208,105.The median price which is a price where half the homes sold for more and half sold for less was $151,000, the same as March 2007.

Townhomes and condo sales were down in total sold and sales prices. In March 2008, the average sale price was $159,012, a 9.7% decline from last year. The number of units sold declined by 8.5 % from last year, however this was the highest level since August 2007.

In closing, the Houston housing market is still stronger in pricing than other areas of the country, although the foreclosures, sub prime lending problems and rising costs of gas, food, etc. have affected us. Our employment numbers and cost of living are considered some of the best in the country. In Houston, in recent years, you have been able to purchase a home for less than in many other cities and the value has increased. According to the National Association of Realtors, Houston’s current median sales price for a single family home is $151,000, compared to the national average of $193,900. We had the second best year on record in 2007. This indicates the great value of living in Houston. If your credit is good and you look on the bright side, this mortgage mess has caused interest rates to decline, making this a good time to buy.


Location Characteristics: Known as both the Bayou City and Space City, Houston was founded in 1836 and named after General Sam Houston. With a population of close to 2 million, it’s the 4th largest city in the United States. The city has been a dynamic center of business since the early 1900s and is also the leader in space technology, being home to NASA and the Johnson Space Center. The port area is thriving and connected to the city by the Houston Ship Channel. Other well known areas are Interstate 10’s Energy Corridor, the Galleria, and the world class Texas Medical Center. Houston’s feel is diverse, with both a high rise skyline and waterways like the Buffalo Bayou, which winds through the city.

Recently, downtown Houston has been transferred into a dynamic area of the city for both entertainment and residential living. Many new lofts and townhomes have been built in and near downtown and other buildings have been converted from commercial to residential use.

Houston has major league football, baseball, basketball ( men’s and women’s), and soccer teams, as well as AHL hockey. It also has separate horse and greyhound racing tracks.

For the theatre lovers, Houston is one of the few cities that has permanent ballet, orchestra, opera, and theatre companies.

Houston offers most everything you could possibly desire in real estate.

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Copyright © 2008 Realty Times. All Rights Reserved.

Categories: Market Reports, Neighborhoods

Bellaire, TX Townhome Attracts People Needing a Downstairs Master Bedroom

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HOUSTON REAL ESTATE

Houston real estate, buyers and sellers always keeps me interested in the needs of those buying, selling, renting and building new construction.  It is what makes me passionate for the business.  After selling real estate for over 19 years, you would think that I’ve encountered most everything that you can imagine in the residential real estate business.  However, I continue to have something new or different come up in almost every transaction.  Therefore, I am constantly learning.  What I learn . . . I try to share.

BELLAIRE, TEXAS

Bellaire, TX is basically a city and a community of homes located near downtown Houston.   Many people want to live in this community because of the city environment, location, schools, and homes.  Homes now sell for anywhere from the mid $200’s to over $3,000,000.  There are some custom built homes that are probably worth considerably more. 

There is very little that you can buy right now for under $300,000.   However, Bellaire does have a few gems that will entice many.  There are a number of townhomes that offer much more than some of the surrounding communities.  Some of these features include low maintenance fees, small yards, one and two story properties and some with master bedrooms located downstairs.

5714 INNSBRUCK, BELLAIRE, TX

I recently listed a lovely townhome at 5714 Innsbruck in Bellaire, TX that has quite a few of the features that people request on a regular basis.  It offers:

  • Low maintenance fees of $25. per month
  • Some front yard, a large side yard and bit of a back yard
  • Two story home
  • Downstairs master bedroom presently used as a study/family room
  • Gleaming wood floors
  • Corner brick gaslog fireplace with a pretty mantle
  • Granite kitchen counters with tumbled travertine backsplash
  • Double paned window and doors
  • Large walk-in closets and ceiling fans in each bedroom
  • Very nice bathrooms
  • Back patio area
  • Well located inside Loop 610 in Bellaire, TX
  • Zoned by HISD to Horn Elementary, Pershing Middle (can apply for Pin Oak Middle) & Bellaire High schools (sought after schools)
  • Price in the mid $200’s.

 

PICTURES OF 5714 INNSBRUCK, BELLAIRE, TX

 

 

front view - 5714 Innsbruck
Front view of the townhome as seen standing under the large shade tree in front near the street.
Entry - 5714 Innsbruck
Pretty landscaping, the side yard and touch of slate invite you into this beautifully updated 3/2/2 in Bellaire located inside Loop 610.
Living room 1 - 5714 Innsbruck
Living room features include recently installed wood floors, built-in entertainment center, optional TV, breakfast bar opening to kitchen, and built-ins with mirrored backing.
living room 2 - 5714 innsbruck
Another view of the living room from the edge of the dining room. A point of interest is that all the windows have recently been replaced with vinyl double paned windows and garden doors.
living room 3 - 5714 innsbruck
From the hallway you can view the living room, corner gaslog fireplace(could be made woodburning again) and garden doors. Aren’t the floors beautiful?
living room 4 - 5714 innsbruck
Once again the living room is nicely presented.
living room 5 - 5714 innsbruck
The charming brick corner fireplace is cozy and offers a nice hearth and a gorgeous custom made mantle. Presently the fireplace is gaslog, but supposedly can be converted back to woodburning.
dining room - 5714 innsbruck
Tastful mirrored wall and garden doors aid in making this dining room light and enjoyable for dining.
breakfast bar - 5714 innsbruck
Peek over the granite breakfast bar into the kitchen from the living room.
kitchen 5714 innsbruck
Viewing the kitchen from the breakfast bar allows you to see the abundant cabinetry and gorgeous granite countertops. The electric range is a flat surface.
kitchen 2 - 5714 innsbruck
Looking down into the kitchen gives you an idea of the attention to detail from the tile floor, cabinets and hardware, granite counters and tumbled travertine backsplash.
upstairs bedroom - 5714 innsbruck
Large upstairs bedroom is presently being used fot the master bedroom. All bedrooms have ceiling fans and large, deep walk-in closets.
other upstairs bedroom - 5714 innsbruck
The other upstairs bedroom has a high window for better furniture arrangement. All bedrooms are carpeted.
master bedroom - 5714 innsbruck
Presently the downstairs master bedroom is being used for a study. You can peek into the master bath that features decorator touches.
patio - 5714 innsbruck
The slate step helps you enter onto the patio area from the dining room. This is a great spot for grilling. The back and large side yard are fully fenced.
side yard - 5714 innsbruck
This large fully fenced side yard can be used in so many ways. The back corner of this yard has nice landscaping. There is quite a bit of yard space that comes along with this home. The low maintenance fees cover mowing the front yard.
 

There is very little that you can buy in Bellaire for the price of this nice three bedroom, two bath, two garage home.  Prices are historically and continually rising in Bellaire.  Buying a townhome like this one that I listed is a great deal in my opinion . . . if you want to live in Bellaire, TX.

 

If you are looking to buy or sell in Bellaire, TX . . .would this information be helpful to you?  What would you add or delete to make this post better?

 

 

Categories: MLS/IDX, Neighborhoods, Uncategorized

Montrose Market Condition Report – Houston, TX May 2008

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Market Conditions for Montrose in Houston, Texas

Reported by Meg & Jim Zoller and Susi McCauley of The Zoller Group of Keller Williams Realty, REALTORS

May 2008.

 

Montrose Real Estate Activity

Based on information provided by The Houston Association of Realtors we saw the following activity in Montrose last month: There were 10 single family homes sold in April in the Montrose market area with prices ranging from $296,500 to $592,000; averaging $175.86 per square foot. There were 21 town house/condos sold in the Montrose market area during this same period with prices ranging from $72,000 to $540,000 for an average of $148.78 per square foot.

Currently there are 57 active available single family homes for sale in Montrose with list prices ranging from $254,000 to $2,199,000 and 18 properties option pending, pending continue to show and pending sale.

There are 100 active available town house/condos in the Montrose market area with prices ranging from $79,900 to $779,900 and there are 20 properties option pending, pending continue to show and pending sale.

Montrose Residents Continue to Enjoy Stable Property Values

Montrose market area residents continue to enjoy stable property values as reflected in the following data provided by the Houston Association of Realtors. There were 9 single family homes sold in March 2008 with prices ranging from $235,000 to $920,000; averaging $186.80 per square foot. There were 20 town house/condos sold in the Montrose market area during this same period with prices ranging from $62,000 to $451,000 for an average of $139.69 per square foot.

According to data provided by the Houston Association of Realtors, there were 121 single family homes sold in 2007 with prices ranging from $105,000 to $890,000; averaging $171.51 per square foot. There were 167 town house/condos sold in the Montrose market area during this same period with prices ranging from $43,000 to $646,000 for an average of $135.77 per square foot.

ZIP Codes: 77002, 77006, 77007, 77019, 77098

Approximate Location Boundaries – Montrose Area of Houston

Montrose subdivision is generally bound by Highway 59 to the south, Allen Parkway to the north, Bagby Street to the east and Shepherd to the west; Montrose market area boundaries expand beyond the subdivision.

 

Montrose Location Characteristics

Originally pronounced as if it were two words, that is, “Mont Rose”, Montrose is generally bound by Highway 59 to the south, Allen Parkway to the north, Bagby Street on the east and Shepherd to the west. The Museum District is located in the southern part of Montrose and many bars & restaurants, thrift/vintage/second-hand shops, eclectic boutiques and small galleries maintain the unique flavor of this part of the city.
Initially envisioned as a planned community and/or streetcar suburb and dating back to the early 20th Century, Montrose comes with the most distinctive character of eccentricity and diversity in Houston. It is one of the prettiest areas with renovated mansions, bungalows with wide porches and cozy cottages lining shady boulevards where people can walk and cycle easily. There is even a small pocket of homes called Courtland Place where all of the houses are listed in the National Historic Registry. Other surrounding neighborhoods include Westmoreland, Avondale and Cherryhurst, all generating a Southern, cozy atmosphere. Townhouse/Condos and Lofts are very prevalent in the Montrose area as well.

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    Categories: Market Reports, Neighborhoods

    Meyerland, Houston,TX Market Conditions Report – May 2008

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    Market Conditions for Meyerland in Houston, Texas

    Reported by Meg & Jim Zoller and Susi McCauley of The Zoller Group of Keller Williams Realty, REALTORS

    May 2008

    Meyerland Homeowners See Good Trend

    2006 was a good year for homeowners in Meyerland as we saw 109 properties sold ranging in price from$197,000 up to $1,150,000 with an average sales price of $368,966 or $133.73 per square foot showing a definite upward trend. These figures are based on data collected from the Houston Association of Realtors.

    There were 89 single family homes sold in 2007 with prices ranging from $200,000 to $1,000,000 averaging $144.73 per square foot.

    Meyerland residents continue to enjoy increased property values as reflected in the following data provided by the Houston Association of Realtors. There were 7 single family homes sold in March 2008 with prices ranging from $292,000 to $899,000 averaging $172.59 per square foot. The wide range reflects the new construction; however the majority of homes are 3 to 4 bedrooms, 2 baths between 2000 and 3000 sq. ft.

    Homes Continue to Sell Well in Meyerland in April 2008

    Based on information provided by The Houston Association of Realtors we saw the following activity in Meyerland last month: 8 single family homes sold in April with prices ranging from $302,000 to $760,000 averaging $147.95 per square foot. The wide range reflects the new construction; however the majority of homes are 3 to 4 bedrooms, 2 baths between 2000 and 3000 sq. ft. There was also one property sold during this period for lot value at $282,000.

    Currently there are 55 active available homes for sale in Meyerland with list prices ranging from $225,000 to $1,100,000 and there are 18 properties in option pending, pending continue to show and pending stages.

    ZIP Code: 77096


    Approximate Location Boundaries for Meyerland in Houston, TX

    South of Beechnut, North of Bellfort, West of S Post Oak, East of Chimney Rock

     

    Meyerland Location Characteristics

    Meyerland is a residential area situated on the banks of the Brays Bayou at the outer southwest corner of Loop 610, just south of Bellaire. Just a 15-minute drive (or less) to downtown Houston, the Texas Medical Center, the Galleria, and the Reliant Park complex, the Meyerland community boasts excellent accessibility, beautiful parks, and strong community leaders. Homes range in price from the mid $100,000’s (usually lot value) to the $1,000,000’s and while some of the homes are the original 1950s bungalows, others are new construction from homeowners who like Meyerland’s ease and convenience.

    Meyerland is the concept of three generations of the Meyer family. In the late 1800’s, Joseph F. Meyer started buying land in the southwest part of the area surrounding Houston, eventually accumulating 6,000 acres of which he paid less than $5 per acre. In the mid-1950’s Joseph’s son, George, saw the possibilities of a prestigious subdivision and after his father’s death, son George took the 1,200 acres he inherited and created Meyerland with 2,700 lots and an 80-acre reserve for a shopping center. George Meyer proceeded to develop homes that were affordable enough to attract middle America. Look magazine called Meyerland a “state-of-the-art neighborhood” while House and Home magazine claimed it was the “ideal plan for a subdivision.” Meyerland might be termed Houston’s first “planned community” in that Meyer held to stringent deed restrictions and strong architectural controls for its development. Characteristic of Meyerland are brick, contemporary styled homes, three and four bedrooms with two baths, an uncommon feature when built.

    Meyerland Plaza Shopping Center

    Meyerland Plaza Shopping Center was opened in 1957 as Houston’s second regional mall and was managed by George Meyer’s oldest daughter, Leota Meyer Hess. The third generation of the Meyer family sold the center in 1984. After years of neglect, in the mid-90s it was purchased and renovated by a new owner. The revival of Meyerland Plaza brought 927,000 square feet of new shopping space to Meyerland and the plaza now includes a variety of 50 shops and restaurants, several of which opened spring 2005.Meyerland Schools and Library

    Meyerland has numerous Houston Independent School District Exemplary schools and is zoned to nationally acclaimed Bellaire High School. Zoned neighborhood elementary schools include Kolter Elementary School and Lovett Elementary School, both located in Meyerland. The neighborhood is also served by Johnston Middle School (located in Meyerland), Pershing Middle School (located in Braeswood Place), and Pin Oak Middle School in the city of Bellaire (pupils zoned to Johnston have the option to attend Pin Oak), and Bellaire High School located in the city of Bellaire.

    The Houston Public Library system operates the Meyer Branch Library at 5005 W. Bellfort, which serves the Meyerland community.

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    Categories: Market Reports, Neighborhoods

    Knollwood Village of Houston Market Condition Report – May 2008

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    Market Conditions for Knollwood Village in Houston, Texas

    Reported by Meg & Jim Zoller and Susi McCauley of The Zoller Group, REALTORS

    May 2008

     

    Knollwood Village – Old vs. New Construction

    Knollwood Village consists of older and new construction homes. The older homes, many of which have been remodeled, range from around 1300-2000 sq. ft., were built on slabs, and most have hardwood floors. The older homes in poor condition are often sold to builders who are usually building two story, 3500-5000 sq. ft. brick, stucco and stone exterior structures. The price range for older homes is generally $250,000-$400,000 and $600,000-$850,000 for new construction.

    Solds and Pending Contracts – Knollwood Village in Houston, TX

    As of 5/21/2008, there are 9 single family homes for sale in Knollwood Village ranging from a home on a 7770 sq. ft. lot being sold for lot value to a new construction, 4395 sq. ft.,4 bed/ 4 bath home on a 9330 sq. ft. lot priced at $848,589. The average list price per average square foot of living space is $181.43. Four additional homes are under contract and pending sale.

    Knollwood Village Sold Properties in March & April 2008

    In March 2008, 2 homes sold for $325,000 and $345,000.The average sales price per sq. ft. for both homes was $208.46/ sq. ft.

    In April 2008, 1 new construction home sold for $749,900. It was a 4 bed/ 3.5 bath, 4024 sq. ft. home on a 7800 sq. ft. lot. The average sales price per sq. ft. was 186.36.

    ZIP Code: 77025

    Approximate Location Boundaries of Knollwood Village

    Inside 610 Loop, south of S Braeswood , Buffalo Speedway area


    Knollwood Village Location Characteristics in central Houston Area

    Knollwood Village is a Houston inner loop, deed restricted, residential subdivision consisting of around 600 single family homes. It is close to the Texas Medical Center, downtown Houston, the Musuem District, Reliant Stadium and the Galleria. Originally developed in the 1950s, the last few years have seen new construction in the neighborhood. The subdivision is zoned to Longfellow Elementary, Pershing Middle School, and Bellaire High School although one should always check with HISD for boundary changes. Other subdivions in the immediate area are Braes Terrace, Westridge, Linkwood and Woodside.

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    Categories: Market Reports, Neighborhoods

    Houston Heights Market Condition Report – May 2008

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    Market Conditions for Houston Heights in Houston, Texas

    Reported by Meg & Jim Zoller and Susi McCauley of The Zoller Group of Keller Williams Realty, REALTORS

    May 2008

     

    Houston Heights Single Family Home Sales

    There are approximately 3500 single family homes in the Houston Heights with an average sales price per sq. ft. of $175 in 2007. Since 1994, this figure has increased every year. The values were $164/sq ft. in 2006, $156/sq ft.in 2005 and $150/ sq ft. in 2004. These figures were obtained from the Houston Association of Realtors Multiple Listing Service, as are the others cited in this article.

    There are currently 143 single family homes for sale in the Houston Heights ranging from a 3 bed/ 1 bath, 2034 sq. ft. home in need of repairs on a 6550 sq. ft. lot listed for $129,900 to a new construction, 4 bed/ 3 bath, 4080 sq. ft. home on a 6600 sq. ft lot and priced at $1,490,000. The average list price per sq. ft. is $193.01. Many of the homes for sale are new construction ones on small lots but there are a good selection of older homes.  Another 55 homes are under contract as of 5/21/2008 but haven’t closed yet.

    Homes Sold in Houston Heights March 2008

    In March 2008 there were 18 single family homes sold at prices ranging from $125,000 to $693,000 with an overall average sales price per sq. ft. value of $175.98.

    Houston Heights Sales April 2008

    In April 2008, 22 single family homes sold at prices from a low of $157,000 for a 3 bed/ 2 bath,1424 sq. ft. home in need of repairs on a 6550 sq. ft. lot to a high of $720,000 for a recent construction, 3334 sq. ft., 4 bed/ 3 bath Victorian style home on a 6600 sq. ft. lot. The overall average sales price per sq. ft. was $163.21.

    ZIP Code: 77008

    Approximate Houston Heights Location Boundaries

    Downtown Houston, Memorial Park, Oak Forest

    Houston Heights Location Characteristics

    This historical neighborhood, with a mixture of bungalow, Victorian homes, and new construction (as well as some industrial and commercial property) was originally established as a planned community in the late 1890s. The location was partially chosen because it was 23 feet higher than downtown Houston, located 4 miles away. In 1918, Houston Heights residents voted for annexation by the city of Houston.

    The single family home market in the Houston Heights consists of older Victorian era homes, older bungalows, and new construction. Many of the older homes have been remodeled and over 100 Houston Heights structures are registered in the National Register of Historical Places. The newer construction consists of everything from contemporary designs to Victorian looking homes.

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    Categories: Market Reports, Neighborhoods

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