SBISD annual realtor’s update…always informative!

This week I attended the SBISD annual realtor’s luncheon and heard Duncan Klussman speak. Here are my “take away notes”:

1. Frostwood Elementary (photo above) opened in January.
2. The district has removed the old TEA school ratings from the school buildings. The last ratings were done in 2011 and no longer apply.
3. A demographic study was completed and the district believes they can manage projected growth with current facilities. New apartment complexes under construction will not add alot of students to their respective elementary schools (Sherwood Forest, Wilchester, Bunker Hill) as they will be Class A complexes.
4. KIPP and YES Prep schools are a great alternative choice for middle and high school students, especially in Spring Branch neighborhoods. Very exciting news!
5. Capped schools listing will be posted to the district website in February.
6. We are lucky to have great leadership in SBISD!

Memorial Villages 2013 Review (thru 11/30)

This year has seen exceptional activity and price increases in our area. The Memorial Villages includes Bunker Hill, Hedwig, Hunters Creek and Piney Point.  A quick glance at a similar table about this time last year (my 10/30/2012 post) shows half acre lots increased 12%.  Even if you aren’t in the market for a lot, you should be aware of what is happening there as lot prices and availability affect resale and new construction prices too.  I am hopeful 2014 will be another strong year!

Hunters Creek Village remodel or teardown opportunity

This is a well maintained 1954 home custom built by the original owners at a cost of $60,000 (per the owner’s daughter).  It just closed for $1,122,800, that is a 1700% increase over 60 years!   Who says real estate isn’t a good investment?!  The home was priced at lot value on a 26,400sf lot in Hunters Creek Village. The owner tells me builder offers had been as high as $850,000 before they listed with me and we advertised on MLS. Exposure to the market and competitive bidding is invaluable in today’s seller’s market. For more details click here.