Braes Heights, Houston, TX Market Condition Report May 2008

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Market Conditions for Braes Heights in Houston, Texas

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

May 2008

May 2008

 

Home Sales in Houston’s Braes Heights

Sales in this subdivision can be largely broken down as follows: 1)Older homes with few if any updates which are mainly worth lot value 2)Older homes which have been remodeled 3) New or recent construction.

According to information that I reviewed on Houston Association of REALTORS Multiple Listing Service, there are currently 15 single family residential homes on the market priced from $410,000 for a “lot value” home on a 9375 sq. ft. lot to an under construction 5 bed/4 full-2 half bath, 5203 sq. ft. home on a 7654 sq. ft. lot, priced at $1,395,000. The average asking price per square foot is $230.78. As of 5/21/2008, there are 10 homes under contract pending sale.

In April 2008, 11 homes sold at an average of $207.54 per sq. ft. The lowest sale of $368,000 was for a home on a 7631 sq. ft. lot being sold for the land value. The highest sale was a 2003 built, 6 bed/ 4.5 bath, 5520 sq. ft. home on a 7613 sq. ft. lot sold for $1,000,000.

ZIP Code: 77025

Location Characteristics of Braes Heights in Houston, TX

Braes Heights is a Houston, Texas subdivision of mostly single family homes located inside the 610 Loop, west of the Texas Medical Center and south of West University and Southside Place. It’s street boundaries are roughly Holcombe to the north, North Braeswood to the south, Stella Link to the west and Buffalo Speedway to the east. It is part of Braeswood Place which is composed of seven subdivisions: Ayshire, Braes Heights, Braes Oaks, Braes Manor, Braes Terrace,Emerald Forest, and Southern Oaks. It was built in the 1950s and is now mainly composed of the older ranch style homes and new construction homes. There has been much new construction in the last 10 years-mostly 2 story homes from 3200 to 5500 sq. ft.

Recent developments are a library, YMCA, Sheltering Arms senior citizens facility headquarters, McGovern Park ballfields for children, Helen’s Park and Beal Park. Braes Heights is zoned to Mark Twain Elementary (recently built), Pershing Middle School(recently built) and Lamar High School. Children in Braes Heights are placed in the West University Little League. Braes Heights is part of the Braeswood Place Homeowners Association.

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Categories: Market Reports, Neighborhoods

Afton Oaks, Houston, TX Market Condition Report – May 2008

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Market Conditions for Afton Oaks in Houston, Texas

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

May 2008

 

Homes For Sale in Afton Oaks, Houston, TX

Currently there are 25 active available homes for sale in the Afton Oaks subdivision with list prices ranging from $349,900 for a 3 bedroom, 2 bath, 2114 sq. ft. home built in 1950 to $2,799,000 for a 4 bedroom, 4/2 bath, 7201 sq.ft. home built in 2008. There are 7 properties in various stages of pending. The wide range in price reflects the new construction; however there are still older homes available, some of which have been remodeled and updated.

 

Single Family Homes Sold in Afton Oaks April 2008


For the month of April 2008 there were 5 homes sold in Afton Oaks with prices ranging from $395,000 to $2,150,000 averaging $287.00 per square foot.

 

Older Homes Sold in Afton Oaks March 2008


For the month of March 2008 there were 2 homes sold in Afton Oaks with prices ranging from $450,000 to $625,000 or $196.53 per square foot. Both of these homes were older homes, built in 1960 and 1955 respectively.

These figures are based on data collected from the Houston Association of Realtors.

ZIP Code: 77027

Afton Oaks Location Boudaries

Bounded approximately on the north by Westheimer Rd., on the east by Union Pacific railroad tracks, on the south by U.S. 59, and on the west by IH-610.

 

Location Characteristics of Afton Oaks

 Afton Oaks is an approximately 50 year old deed-restricted residential community of over 500 single family homes. The neighborhood is bounded on the north by Westheimer Rd., on the east by Union Pacific railroad tracks, on the south by U.S. 59, and on the west by IH-610.
Afton Oaks contains many homes built in the 1950s along with many recently-built homes listed for well over $1,000,000.

Afton Oaks Schools are in Houston Independent School District(HISD)

 
Afton Oaks is zoned to Houston Independent School District. Prior to spring 2006, Afton Oaks was zoned to Will Rogers Elementary School. Will Rogers was closed after spring 2006 and Afton Oaks was re-zoned to St. George Place Elementary School. Afton Oaks pupils are also zoned to Lanier Middle School in Montrose and Lamar High School in Upper Kirby.

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West University Market Conditions Report – May 2008

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Market Conditions for West University in Houston, Texas

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

May 2008.

 

West University Place Single Family Homes

According to information provided by The Houston Association of Realtors, there are currently 130 single family homes available for sale in West University Place with asking prices ranging from $272,500 to $3,650,000. While the majority of these homes are of newer construction with a minimum of 4 bedrooms and 3000 sq. ft., there are also smaller homes available with 2 bedrooms that were originally constructed in the 1920’s, 30’s and 40’s, and some properties being sold for lot value.

Properties Sold April 2008 in West University Place

There were 30 properties sold in April of 2008 with prices ranging from $235,000 up to $2,790,000 for an average of $284.34 per square foot. There were 49 properties in various stages of pending at the close of April as well.

Properties Sold March 2008 in West University Place

There were 17 properties sold in March of 2008 with prices ranging from $530,000 up to $1,200,000 for an average of $816,176 or $251.05 per square foot and on average these properties were on the market for 56 days. There were 47 properties in various stages of pending at the close of March as well.

ZIP Code: 77005

West University Approximate Location Description


Kirby Drive to the East, Union Pacific Railway railroad track to the West, Bellaire Boulevard/West Holcombe Boulevard to the South, and Bissonnet and Law Streets to the North.

West University Characteristics

Commonly referred to as West University or West U for short, West University Place was developed by former Tennessee Gov. Ben Hooper. His idea for a community of country homes was conceived in 1910 when Governor Hooper bought a tract of land southwest of Houston out of an old Spanish land grant. The Houston West End Realty Company developed today’s West University Place First Addition and put the first lots up for sale on April 1, 1917. The name “West University Place” originated from its proximity to Rice Institute (now known as Rice University). The city of West University Place incorporated in 1924 and adopted a formal city charter in 1940.
There are approximately 26 subdivisions in West University Place to include Rice Court, Pemberton, Colonial Terrace, Sunset Terrace, Cunningham Terrace, Evanston, Matthews Place, Kent Place, Monticello, Virginia Court, Belle Court, College Court Place, Collegeview, Preston Place, Pershing Place, Academy, Quenby Court, Bissonnet Place, Fairhaven, College Park, and Krenzler Courts and some sections simply known as West University Place.

West University Public Schools

Students who live in West University Place are zoned to West University Elementary, Pershing Middle School in the Braeswood Place neighborhood of Houston, and Lamar High School, in the Upper Kirby district of Houston.

The city’s boundaries are: Kirby Drive to the East, Union Pacific Railway railroad track to the West, Bellaire Boulevard/West Holcombe Boulevard to the South, and Bissonnet and Law Streets to the North.

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Categories: Market Reports, Neighborhoods

Bellaire, TX Market Conditions Report – May 2008

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Market Conditions for Bellaire, Texas

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

May  2008.

According to information that I reviewed on Houston Association of REALTORS Multiple Listing Service, there are currently 164 single family residential homes on the market priced from $215,000 for a 1065 sq. ft., 3 bed/1 bath home on a 7345 sq. ft. lot priced mainly for the land to a high of $2,899,000 for a 9662 sq. ft., 5 bedroom/ 5 full, 2 half bath, 3 car garage home on a 18,450 sq. ft. lot built in 2004. The average list price per sq ft is $243.78. Fifty four homes are for sale for over $1,000,000 and 22 homes are priced at $400,000 or less. As of 5/20/2008 there are an additional 41 homes pending under contract priced from $229,000 to $2,295,000.

March Single Family Home Sales – Bellaire

During the month of March 2008, 21 single family homes closed with sale prices ranging from $227,500 to $1,250,000. The average sales price per average sq. ft. was $206.69/ sq. ft.

Single Family Home Sales – Bellaire – April

In April 2008, 21 sales closed with an average sales price per average sq. ft. of $213.84. The low sales price was $199,500 for a 2 bed/ 1 bath, 1130 sq. ft. home on a 5125 sq. ft. lot near the railroad tracks. The highest reported sales price was $1,710,000 for a 5 bed/6 full 2 half bath, 6700 sq. ft., new construction home on a 15,990 sq. ft. lot.

Townhomes

There are presently reported to be 6 townhomes actively on the market, priced from $176,950 to $310,000. The average list price per sq ft is $145.36.Three sold in April 2008 for an average of $142.20 per sq. ft.

Bellaire New Construction

New construction in Bellaire is still strong and the prices are increasing due to rising building costs and lot prices. For the most part, construction in Bellaire originated in the late 40’s and 50’s. Many of these original homes have been and are being purchased at lot value with the old homes being replaced with larger, new construction homes.

ZIP Code: 77401

Bellaire Texas Location and Characteristics

 Bellaire, Texas, located on both sides of Interstate Loop 610 West, is surrounded by Houston and many subdivisions including West University Place, Southside Place, Meyerland, Willow Meadows, and Afton Oaks. It’s a very short distance to the Galleria, Reliant Stadium, downtown Houston, the Theater District, and the Medical Center.

Bellaire is zoned for residential, commercial, and light industrial sections. The city is well known as a residential city. The city is well-liked for its police and fire protection, parks and recreation facilities, library, public works department, and recycling center.

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Categories: Market Reports, Neighborhoods

Market Conditions in Houston, TX May 2008

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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.

 

Mortgage Company and Loan Problems

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.

Sales Decline BUT Prices Increase

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 Condos – Down in Solds and Sales

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.

Houston Housing Market is Stronger Than Other Areas of the Country

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.

Local Houston 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.

For More Information:  Visit My Website

 

Categories: Market Reports, Neighborhoods

Nature Discovery Center – 27th Bellaire Home Tour 2009

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PLEASE HELP US

As co-chairman for the Nature Discovery Center’s 27th Bellaire Home Tour to be held in March or April of 2009, I am requesting your helpI need suggestions and input for interesting or unique homes in Bellaire for consideration to be open to the public.  The homes can be older homes or new construction homes.  Maybe the owners are collectors and have something unique to offer visitors on tour.  Possibly the home owner has a fabulous yard or gardens that would interest a number of people.  If you or someone you know has a home that can be offered for this worthwhile event . . . please contact me.  I would greatly appreciate your help.

Bellaire Home Tour Benefits the Nature Discovery Center

The Bellaire Home Tour raises funds to benefit the Nature Discovery Center.  The Center continually offers educational and community programs.  This is one of the largest fund raisers held each year with the intent to continue these wonderful programs.  Hopefully you can help us make this a huge success . . . one more time.

I look forward to hearing from you!!

Categories: Events, Neighborhoods

26th Annual Bellaire Home Tour . . . Benefitting the Nature Discovery Center

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The 26th annual Bellaire Home Tour which benefits the Nature Discovery Center at Russ Pittman Park takes place this Saturday and Sunday, April 5th and 6th, 2008, from 1:00 P.M. to 5:00 P.M.each day.  Six Bellaire, Texas homeowners have graciously offered to allow the public to view their homes. 

The homes vary from older construction to newer construction . . . traditional to contemporary architecture.  Tourists will enjoy the uniqueness of each home.

TICKETS :

$12.00 in advance– picked up at Nature Discovery Center, Magpies, Teas Nursery amd Whole Foods.

$15.00 on day of tour – available at each house

HOMES INCLUDE:

  • 4911 Holt
  • 4815 Locust
  • 4533 Bellaire Blvd.
  • 114 Marrakech Court
  • 4401 Cynthia
  • 4336 Lafayette

PICTURES & DESCRIPTIONS:

4911 Holt - Bellaire, TX 77401

4911 HOLT –

This charming, roomy and traditional two story stucco home was built in 1995.  Homeowners, Bert and Karen Durel, designed their own home.  Features in this home include a wrought iron staircase and slate floors that extend to the sparkling pool area in the large back yard.

4815 Locust - Bellaire, TX 77401

4815 LOCUST –

Acting as their own architects, Charlie Yoa and his wife Shelby Song designed their own Mediterranean style home.  The builder was Jeffrey Harrington Homes.  This unique home has an extra layer of engineering in each room.  You’ll enjoy viewing the two-and-a-half story turret, the grand entryway, three living areas and two kitchens (one is for caterers).  A Master Feng Shui consultant recommended the 56 arches inside this lovely Bellaire home.

 

4553 Bellaire Blvd. - Bellaire, TX 77401

4553 BELLAIRE BLVD. –

Offered for viewing by home owners and architect Kelly Larkin and Bubba Beasley . . . and built by Richard Price Custom Homes in 2005, this magnificent Mediterranean style mansion is “fully loaded”.  The four bedroom six bath home offers computer automated lighting, a security HVAC system and a whole home audio.   Among many other features you will discover distinctive inlaid wood floors and tile walls.  This stucco and stone home is topped by a dome, towering chimney stack and Spanish style tile roof.  A relaxing pool and summer kitchen are found in the back yard.

 

114 Marrakech - Bellaire, TX 77401

114 MARRAKECH COURT –

Designed by owner/architect John W. Gabriel, this modern contemporary three bedroom, two bath home was constructed in 1993.  It’s privately “tucked away” on one of Bellaire’s cul-de-sac streets. The open design was inspired by neoclassical architecture.  You’ll especially enjoy viewing the kitchen in this home that was built for comfortable living.  One of the surprise features of this home is that it backs up to the Nature Discovery Center and Russ Pitman Park.

 

4401 Cynthia - Bellaire, TX 77401

4401 CYNTHIA

Mike and Mary Beth Destefano are excited to have you tour their two-and-a-half story traditional red brick, classic colonial family home which was built by V.J. Vallone of Teal Creek Homes in 1992.  Situated on one of the smaller Bellaire corner lots, this 4152 square foot four bedroom home offers formals divided by a dual sided fireplace, open family room, large game room and two additional rooms on the third floor.  Oak and walnut floors reflect the gold tones of the walls.  Take note of the octagonal areas found in this home cherished by it’s family.

 

4336 Lafayette - Bellaire, TX 77401

4336 Lafayette –

Architect Victor Perez designed and built his modern contemporary home for his wife Karen and their two children in 1999.  Interesting features of this home include the fact that the home itself was built on the left hand half of the lot, the court yard is on the right half of the lot, the garage doors are glass, the sleeping quarters are downstairs, the open living area is upstairs . . . and many more that you’ll just have to see during the tour.  The children especially enjoy the playground across the street in Lafayette Park.

 

The Nature Discovery Center appreciates your participation in this event.  The proceeds will greatly benefit the center and its various programs offered to the public.

 

Categories: Events, Neighborhoods, Open Houses

Bellaire Library Book Sale – Bellaire, TX . . . Stock up!

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There are many events and activities offered throughout the year in Bellaire, Texas.  One of my favorites, though, is the  Friends of the Library Book Sale.  Ever since our daughters were little, Jim and I would take them to the sale and we would all stock up on books to read.  It has always been a lot of fun to go through the piles of books and the boxes while we each selected those special books.  Since the cost was very low for the books, we could each buy quite a few more books than we would if we went to the book store.Well, it’s that time of year again.  The Friends of the Library Book Sale in Bellaire, Texas is this Saturday, March 29, 2008 from 9:00 A.M. to 4:00 P.M.   It will be held in the parking lot at 5111 Jessamine in Bellaire.

Great bargains are always found.  Paperback books are 50 cents each and hardback books are $1.00 each.

I hope that you can make the sale and stock up with all the books you desire.

Maybe we’ll see you there!!!!

Categories: Events, Neighborhoods

Houston, TX Market Condition Report – March 2008

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

At the present time 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 statistics. Total property sales were lower than 2006, but the total dollar volume was a record high which is greatly appreciated by home sellers. So in a nutshell, there were less homes sold in Houston, Texas, but the ones that did sell sold for more money.

However, January 2008 sales declined 17.2 % from January 2007, to the lowest level in three years. January is usually low while folks recover from the holiday season, but this year we may be affected by the nation’s real estate and sub prime mortgage problems. The good news is that in Houston the January average sales price increased over last year by 4.9% to $190,233.The median price which is a price where half the homes sold for more and half sold for less was $139,000, a 2.8 % decrease from last year.

Townhomes and condo sales were down in total sold, but higher in sales prices. In January 2008, the average sale price was $160,455. This is a 9.1 % increase in price over January 2007.

In closing, the Houston housing market is still stronger in pricing than other areas of the country, although the foreclosures and sub prime lending problems appear to have affected us all. In Houston, in recent years, home buyers 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 35.1 % less than the national average. 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 for home buyers to find their new single family residential homes.


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, Texas offers most everything you could possibly desire in real estate.

Meg and Jim Zoller – The Zoller Group of Keller Williams Realty, The Metropolitan

Please view our website, http://www.finehomeshouston.com/ . Also, feel free to contact us at:

Direct: 713-661-0884

Toll Free: 800-808-6153

E-mail: Meg@FineHomesHouston.com or Jim@FineHomesHouston.com

Cells: Meg – 713-875-4844 Jim – 713-545-6338

Categories: Market Reports, Neighborhoods

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