What is the deal with Telfair in Sugar Land? No Inventory.

[Htown2013]

Originally Posted by cheryjohns

People transferring out for a while, but who will be coming back. With the way prices are rising there, they will pay substantially more when they get back. Better to rent and have the mortgage paid - and come back to the house later.

Obviously, since there's so little for sale that's not already pending or otherwise overpriced for what it is. What type of tenants actually rent these places? How long are they taking to lease if priced in line with market?

[cheryjohns]

Originally Posted by Htown2013

Obviously, since there's so little for sale that's not already pending or otherwise overpriced for what it is. What type of tenants actually rent these places? How long are they taking to lease if priced in line with market?

Some are on the market for as little as 2 days - others 2 months. Same story with houses for sale anywhere - the ones that go fast are in good locations, have neutral color paint, clean, priced correctly, etc. The others linger. Like I mentioned on another thread, there is one there with about 1900 sq feet renting around $2300, which is very ambitious - and obviously not going anywhere fast. One about the same size just came on - $200 cheaper, bigger yard, etc. It will go faster.


Some renters are just going to be in town with employment for 18 months - 2 years. It's not worth buying. They most likely own another house elsewhere. They are not permanent renters - they're "situational" renters.

[Htown2013]

Originally Posted by cheryjohns

Some are on the market for as little as 2 days - others 2 months. Same story with houses for sale anywhere - the ones that go fast are in good locations, have neutral color paint, clean, priced correctly, etc. The others linger. Like I mentioned on another thread, there is one there with about 1900 sq feet renting around $2300, which is very ambitious - and obviously not going anywhere fast. One about the same size just came on - $200 cheaper, bigger yard, etc. It will go faster.


Some renters are just going to be in town with employment for 18 months - 2 years. It's not worth buying. They most likely own another house elsewhere. They are not permanent renters - they're "situational" renters.

OK. No problem pricing in line with market and the other factors mentioned. My issue is that it won't hit the market until approx. October whether for rent or for sale. If vacant for more than 6 months, it would be very financially tight to carry 2 mortgages longer than that.

[hulio82]

Originally Posted by Htown2013

What is the deal with Telfair in Sugar Land? If I were looking to rent a house there, I'd have more than my pick of properties at all price levels. If I were looking to actually purchase in the $400-500k price range, there is absolutely nothing decent actively available that is not already pending. What gives??? Even if I could afford to pay cash, there is just nothing available.

Telfair is prime real estate given its location. I know various buyers that purchased multiple houses in Telfair just for the sake of renting them out given its high demand. if you had looked at the beginning of 2013, you would have been able to buy a new construction in the 400-500K range, but they're pretty much out of new inventory now.

[Mustang1]

Originally Posted by v2four

As the Telfair bunch knows, you are not going to get your own high school, so your kids will be stuffed into Clements, which is already bursting at the seams...

I think most of Telfair will switch to Austin HS in the near future, correct?

[Jonathz]

I don't think Telfair will be zoned to Clements. In the FBISD meeting, the considering option is to switch from Kempner to Austin HS. But this is not even a done deal. FBISD is just collecting ideas and they don't have a time line. It is unlikely that Telfair will be zoned to Clements, given that Clements is already overcrowded.

[Jonathz]

Originally Posted by hulio82

Telfair is prime real estate given its location. I know various buyers that purchased multiple houses in Telfair just for the sake of renting them out given its high demand. if you had looked at the beginning of 2013, you would have been able to buy a new construction in the 400-500K range, but they're pretty much out of new inventory now.

I am looking at har.com. There are 24 rental listings in Telfair, vs 18 in New Territory and 9 in Riverstone. It looks like there are more Telfair rental properties than in both New Territory and Riverstone.

[AK123]

Originally Posted by Jonathz

I don't think Telfair will be zoned to Clements. In the FBISD meeting, the considering option is to switch from Kempner to Austin HS. But this is not even a done deal. FBISD is just collecting ideas and they don't have a time line. It is unlikely that Telfair will be zoned to Clements, given that Clements is already overcrowded.

If I remember correctly, the Avalon part of Telfair (other side of 59, near the UHSL) will be zoned to Clements High while the rest may be zoned out of Kempner and into Austin High. This is because the new development at Imperial is expected to add more students to neighboring Kempner High.

As to the prices -- Telfair is a very good/convenient location. Thus, the high prices.