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Old 07-12-2013, 08:56 AM
 
34,620 posts, read 21,439,628 times
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Quote:
Originally Posted by screwpeter View Post
Can someone explain to me what is the market force in place here that's driving such an insane valuation? Are people just overpaying? Is there still any sense of rationality?
Location, location, location.
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Old 07-12-2013, 09:06 AM
 
34,620 posts, read 21,439,628 times
Reputation: 22228
Quote:
Originally Posted by F2BBS View Post
Code word alert... code word alert
Affluent.
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Old 07-12-2013, 09:39 AM
 
Location: Woodfield
2,086 posts, read 4,102,251 times
Reputation: 2319
Quote:
Originally Posted by marksmu View Post
There are homes that come up in Memorial all the time that are not just livable, but nice...Frostwood has them frequently, and they pend that day. 99% of them are going to be a corner house on Gessner, or the first two streets by the mall. The others are going to need to be torn down or remodeled in that price range.

HAR shows 16 current listings in 77024 south of I-10 zoned to the best schools memorial has to offer for under $700,000. You just need to compromise a little on other things.
Understatement of the year! Once one fully appreciates the compromises of a sub $800k budget in Memorial you end up going west over the beltway to (literally) greener pastures. I'd put my $800k in Rustling Pines before anything further east that is NOT the villages.

Last edited by Oildog; 07-12-2013 at 03:21 PM.. Reason: individual link
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Old 07-12-2013, 09:50 AM
 
1,501 posts, read 1,749,615 times
Reputation: 1320
The house is sort of larger (sq footage) and on a larger lot for the area but the remodel is why the price is as high as it is. Strange a REAL third bedroom was not added with the remodel, but hey it has a contract so what do I know. Also not having a garage seems to have not been a big deal either.
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Old 07-12-2013, 09:59 AM
 
65 posts, read 112,714 times
Reputation: 73
>700k WITHOUT A COVERED GARAGE!?
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Old 07-12-2013, 10:19 AM
 
Location: Charleston Sc and Western NC
9,273 posts, read 26,373,824 times
Reputation: 4740
Quote:
Originally Posted by marksmu View Post
There are homes that come up in Memorial all the time that are not just livable, but nice...Frostwood has them frequently, and they pend that day. 99% of them are going to be a corner house on Gessner, or the first two streets by the mall. The others are going to need to be torn down or remodeled in that price range.

HAR shows 16 current listings in 77024 south of I-10 zoned to the best schools memorial has to offer for under $700,000. You just need to compromise a little on other things.

As to the Heights being so desirable - its market driven. Zillow, and other estimates are terrible in Texas....their algorithm is based on disclosed sales prices from public records...Texas is a non-disclosure state. Thus, unless you report your sales price, there is no way for Zillow to get that information accurately. I recently sold my house in the Heights, and it went quick for top dollar.

Families are moving to the Heights for the short commutes and increased family time...Its also a trendy place to live, and there are quite a few environmental snobs that live there, touting their small house, prius, and short commutes, while they thumb their noses at those jerks who drive suburbans and commute from farhter out into town. The increasing quality of the homes, the and the improving demographic is driving the demand up rapidly, and the inventory is low. It took me 1 day to sell my house. Why? Because there were no comparable properties like it. It was in demand.
Mark, those houses aren't in the Villages. The Villages roughly run west of Chimney Rock to a street or two east of Gessner.

They are simply in West Houston, or Western Memorial, or West Memorial. It's where I live, except just west of the beltway where the lots are bigger and we have the park. We basically get the same schools, but not the Village Stickers on the cars.

Last edited by EasilyAmused; 07-12-2013 at 10:32 AM..
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Old 07-12-2013, 10:48 AM
 
Location: Houston, TX
8,891 posts, read 19,875,808 times
Reputation: 6360
Welcome to Houston - where housing isn't as cheap as the media has everyone believing. The heights has always been popular and is close in to everything. Very centrally located it is unique in character and style. No cookie cutter here. Price is what we would expect for the heights.
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Old 07-12-2013, 10:52 AM
 
1,835 posts, read 3,241,671 times
Reputation: 3788
Quote:
Originally Posted by F2BBS View Post
Code word alert... code word alert
The other poster had it correct....its code word for pricing the less wealthy out of their homes...its called affluence - wealth - its not a code word for race/sex/origin/lifestyle.

The diversity in the Heights crosses all economic boundaries.
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Old 07-12-2013, 10:53 AM
 
Location: Woodfield
2,086 posts, read 4,102,251 times
Reputation: 2319
Quote:
Originally Posted by marksmu View Post
I agree you get alot more for your money if you just go a little bit further west, but then you also compromise a bit on the schools. The best schools are Frostwood/Bunker-Hill for elementary, Memorial middle, and Memorial High.
No, you don't. When you're comparing Frostwood with Rummel Creek, Wilchester, Meadow Wood your'e splitting hairs. Stratford and Memorial HS is a wash, each having positives and negatives.

Now, Spring Forest Middle (for all west of Kirkwood and Yorkshire) vs. Memorial Middle? Maybe you can make that case.
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Old 07-12-2013, 10:55 AM
 
Location: Woodfield
2,086 posts, read 4,102,251 times
Reputation: 2319
Sorry, all off topic. That Heghts listing seems to be indicative of whats happening in many of the desirable areas around Houston and even some you wouldn't think are so hot. It all does seem a little bubbly.

I'm watching a listing in my neighborhood, if they get anywhere close to asking I'm calling it a bubble!
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