Katy Home Prices Continue to Rise as Demand Outweighs Supply

Family Room

Pictured above is a Cinco Ranch Southwest home that I listed in late February. We had 18 showings the very first day and four offers. It sold for $10,000 above list price cash!

I have never, in my 24 years of selling Katy real estate, seen a market as ferocious as this one! It’s a seller’s dream come true and a real challenge for buyers. Buyers definitely need to be working with a Realtor so they can get into see the new listings as soon as they go on the market!

March brought about the 34th consecutive month of positive home sales, despite the record low 2.6-month supply of inventory that has prevailed throughout 2014.

According to the latest monthly report prepared by the Houston Association of Realtors (HAR), home sales rose 3.7 percent year-over-year, with March single-family home sales totaling 5,971. That is the largest one-month sales volume recorded since last September.

The supply of homes first reached 2.6 months of inventory in December 2013 and has held steady ever since. However, it is down from the 3.5-month supply in March 2013 and significantly lower than the national supply of 5.2 months of inventory.

The average price of a single-family home increased 11.0 percent year-over-year to $261,329. The median price—the figure at which half the homes sold for more and half for less—climbed 9.8 percent to $189,900. Both figures represent the highest prices Houston has ever seen in a March.

Single-family homes priced from $250,000 through the millions saw the greatest sales activity and accounted for the latest jump in prices. Homes priced at $150,000 and below experienced declines.

“Houston home sales rose again in March, with most of the buying taking place at the higher end of the market,” said HAR Chair Chaille Ralph with Heritage Texas Properties. “We’ve also seen Read the rest of this entry »

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David Weekley Homes and the New Cinco Ranch Development — Ashfield Gardens

 

David Weekley

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Ashfield Gardens is an exclusive new area within Cinco Ranch. It offers easy access to freeways, shopping, entertainment, restaurants, 11 swimming pools, tennis courts, bike/walking trails and an 18 hole golf course. Set right in the heart of Cinco Ranch, this luxury development has its  own “residents only” Clubhouse.

The Clubhouse offers a wonderful center in which to entertain when residents don’t want to entertain at home. It features a  great room, game/card room, kitchen, outdoor kitchen with  living space and a full exercise room. There is also a gorgeous fire pit. It’s a grand gathering place in which to hold club functions. A part-time activities hostess is coming soon.

David Weekley Homes has especially designed new home plans with this section in mind. The David Weekley Homes incorporate an open, (no wasted space concept), which includes living space both inside and outside. There is an understated sense of luxury!

Plans range from 2255 square feet up to 3200 square feet. All can be personalized to fit the Read the rest of this entry »

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Katy’s Westheimer Lakes and Westheimer Lakes North–A Wonderful Place to Live

Katy’s Westheimer Lakes is the first Canyon Gate community to debut in Houston’s prime Grand Parkway Corridor. The 592-acre project offers homes from the low $100’s-$300’s; it  features  neighborhoods built around a network of lakes.

Westheimer Lakes North is located just a quarter of a mile west of the Westheimer Lakes entrance on FM 1093. Westheimer Lakes North is a 287-acre addition to Westheimer Lakes that features  villages with homes from the mid 100′s-300′s.

Centrally located between 1-10 and US 59 via the Grand Parkway, Westheimer Lakes and Westheimer Lakes North are accessible to major employment and retail centers. The Westpark Tollway extends to the Grand Parkway, just minutes from the entrance to the communities.

Each home in Westheimer Lakes and Westheimer Lakes North is equipped with a home Read the rest of this entry »

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Drilling Rig Equipment Firm to Build New Facility Along Katy’s Grand Parkway

It’s a long way from Aberdeen, Scotland to Katy, but the two cities do have things in common.

Aberdeen is known as the “the Oil Capital of Europe,” while Katy is the headquarters of various petroleum industry-related businesses, and is about to become home to one more: Hampco, a company that builds drilling rig equipment and which is owned by Scotland native Andy Grieve, who entered the drilling business while living in Aberdeen.

Hampco, which also does consulting, upgrades, maintenance and other services, only recently began experiencing a rise in its custom-equipment designing and manufacturing services — which brought about the need to build a new facility. “We’ve grown substantially over the last three years,” Grieve says, “and after doing a large amount of sub-contracting, the natural next step was to find a site and build a facility large enough Read the rest of this entry »

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Houston Veterans: The Wonderful World of VA Home Loans, Part Three

 

I hope you enjoyed Parts One and Two of this series on VA Home Loans and have found it helpful. For those who have served and sacrificed for our great country, this is a terrific, grossly under-utilized, program and one you should not overlook in your pursuit of the American Dream: Home Ownership.

In today’s article, we will cover a variety of points to sum up what makes a property a good candidate for a VA Home Loan and other details. I hope to tie up the loose ends. Again, when you begin to explore VA Loans, contact me for a fabulous lender referral; it is imperative that you work with an expert who specializes in VA funding. My number is 713-818-2404.

What are the VA minimum property requirements? The VA Appraiser is looking to ensure that the house is “safe, sound and sanitary”. If there are defective conditions such as cracks in the floor or walls that could indicate foundation issues, a structural engineering report will be mandatory.

All utilities must be on and the systems functioning properly. This covers electricity, gas and water. The heating system must be in place and functional; this is not negotiable.

If there is a well or septic system, both will require testing and inspection. Not all inspectors cover these systems, you will need to inquire when interviewing inspectors as these are systems that usually exist primarily in rural areas.

Any active termites must be treated. Conditions “conducive to” termites must be corrected. High voltage power lines cannot impact the structure. Read the rest of this entry »

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Katy New Construction Update–September 2012

This article is compliments of The Katy Area Economic Development  Council

Cinco Ranch Southwest located at Spring Green Boulevard and FM 1093 is almost nearing completion, with 905 lots developed in 2011, 678 lots projected for 2012, and 5,200 total lots are projected at completion.

Cinco Ranch Northwest projected 429 lots for 2012, and 1,182 total lots are projected at completion in about four years. The firm and the school district have already determined that another school is needed in that community.

Cross Creek Ranch projected 550 lots for 2012 and 6,575 total lots are projected at completion.

Churchhill Farms, a project located west of FM 1463 is under construction with 187 lots projected for 2012, and 570 total lots projected at completion.

Pine Mill Ranch completed 153 lots in 2011; 176 lots are projected in 2012, and 1,212 total Read the rest of this entry »

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Firethorne’s New Elementary Featured on YouTube

With Katy ISD’s newest elementary school opening Aug. 27 with 722 students, Principal Kelly Ricks knew she wanted to introduce the K-5 grade students to their new school and new teachers in a fun, approachable way.  So, she, along with the teachers and staff and the school’s namesakes, Ray and Jamie Wolman, created a lip dub video to the Katy Perry song, “Firework.”  To date, there are 3,131 views on the YouTube link!  

Wolman is home of The Explorers (school mascot) in red, silver and black.  This is the first school to open within the 1,400-acre Firethorne  master-planned community in Katy/Fulshear.

Ms. Ricks, who is a prized Katy-based educator and administrator, says this assignments marks “a highlight of her career to start a school from the ground up.”  Her talents and achievements in primary school education are recognized statewide by the Texas Education Agency (TEA) as well as nationally with a prestigious National Blue Ribbon nomination this year.

She is immediate past principal of Katy ISD’s Diane Winborn Elementary, a TEA Exemplary School also recognized multiple years by the Texas Business and Education Coalition, Texas Monthly and the Houston Chronicle, and one of 26 schools in the state nominated by the Texas Education Agency for the 2012 National Blue Ribbon Award.  Her former school was one of only 13 Blue Ribbon nominees in Texas to be designated “High Performing” schools in 2012. 

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Katy’s Firethorne Announces New Homebuilder

Firethorne Announces New Builder

M/I Homes is the newest homebuilder to join the builder team at Firethorne, a 1,400-acre master-designed residential community located in Katy/Fulshear.   The builder’s 60-foot lot model home will be constructed in the new Firethorne West Model Park.  Firethorne is situated 10 and 15 miles west of the Texas Medical Center-West Campus and Houston’s Energy Corridor, respectively.

M/I Homes’ one- and two-story homes, available in brick, stone and stucco exterior elevations, will range from 2,000 to 3,400 square feet and priced from the $220,000s. The builder’s signature features include soaring windows, rotundas, structural and designer options and a 30-year transferable structural warranty.

“We hand-select each of our builders based upon their high standards for design, quality, customer satisfaction and reputation,” said Firethorne General Manager Wayne Meyer. Currently completing the Firethorne builder team are: Ashton Woods Homes, Coventry Homes, Highland Homes, Partners in Building, Perry Homes, Plantation Homes and David Weekley Homes.

Firethorne, located in the top-ranked Katy Independent School District and Lamar Consolidated Independent School District, features 150 acres devoted to parks and recreational amenities, a 12-acre lake with surrounding greenbelt, resort-style swim center, new competitive swim center, sports fields, hike/bike trails, parks and playgrounds, discovery-rich wildlife observation area and a natural bird habitat. 

To tour Firethorne, visiting both new construction and resale homes, call me at 713-818-2404. I have sold Katy real estate for over 22 years and would be delighted to hear from you!

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Major National Builder Comes to Cinco Ranch

M_I Homes exterior in Katy's Cinco RanchIt’s been way too long since I posted to my blog. Business has been booming and I have been spending my time with sellers and buyers. I sure hope I haven’t lost any of my regular readers! Today’s post is about a new builder who has entered the Cinco Ranch market.

Katy’s reputation as the nation’s number one “most notable high-growth area” has attracted a major national homebuilder, Columbus, Ohio-based M/I Homes. This top national builder is publicly traded on the New York Stock Exchange (MHO).

M/I Homes now has a model home under construction in Cinco Ranch. It plans to open the model in early April to showcase all-new floor plans and architectural designs created especially for the Houston market after extensive research with local homebuyers. Read the rest of this entry »

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“Churchill Farms” Coming to Katy/Fulshear

beazer homes Katy TX

Beazer Homes, an Atlanta based builder, recently closed on 209 acres on FM 1463 for a development to be called Churchhill Farms. According to The Houston Chronicle,  “Named after the founder of Fulshear, Churchill Fulshear, Churchill Farms will have 550 lots, more than 40 acres of open space, a 10-acre lake and a community pool and clubhouse.” The first model homes are scheduled to open in January 2012.

The Cardiff family, one of Katy’s oldest families, retained this last tract of the old family homestead. The land was purchased by the Cardiff family in 1924 and recently sold to Beazer.

The Chronicle went on to say, “Homes will range from $150,000 to $250,000, depending on the lot sizes. The smaller lots are targeting single professionals working in the Energy Corridor in west Houston or medical professionals working in the hospitals along I-10. The larger lots will likely house move-ups.”

Beazer has announced that preliminary plans include 16 acres of retail and commercial development.

To tour Katy or Fulshear homes and work with a Realtor who can assist you in negotiations, call me at 713-818-2404. I have sold Katy real estate for over 21 years. Experience does count!

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