Multimillion $ Homes Also Receive Multiple Offers

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Normally we don’t see multiple offers in the multimillion dollar price range. This GK listing was the exception. Beautifully decorated by Don Connally of Area (Highland Village) it showed great. My favorite idea was the use of this barn door that adjoins the pool. Open the door and you have additional entertaining area ….ping pong table…or whatever in this one bay garage space. Interesting observation…the home only had a one car garage yet that didn’t keep the buyers from bidding. Just because your home doesn’t have “everything perfect” doesn’t mean it won’t sell. Click on the top photo above for more details.

It Has To Be Special

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I think we all want our home to be someplace truly special. This home is! It is an enchanting quiet oasis on the bayou that my clients purchased. Three sets of geometric prairie style windows (1) flank the front door, (2) bring light through leaded glass windows into the front entryway, and (3) showcase dramatic floor to ceiling views of dappled light through trees from the living room. This was a fun transaction with an urban legend that turned out to be fiction, as did the tall tale that there were plans around signed by Frank Lloyd Wright! Ha ha! Click on the photos above for more details.

Upper End Market Still Strong

Supply and Demand

Yes, home values have escalated greatly this year. I often hear, how long can it continue? Is this a bubble? This bar graph tells us that the upper end market is not currently overbuilt. And based on the scarcity of lots this year, probably won’t be overbuilt in the near term. An important component of our market is the upper end, even if it isn’t your market. The above bar graph shows supply and demand for single family homes in Memorial ranging in price from $2,500,000 to $4,000,000 as of August 31, 2014. The red bars are steady supply….pretty level. The blue bars are homes going under contract, and the green bars are homes that have sold….which appear to be at good healthy levels.

Amazing Lot on Green Oaks in Bunker Hill Village

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Lots do not become available often on streets like Green Oaks. This one is at the end of the cul-de-sac, just off Blalock. Lovely trees, tranquil setting. Great area for walking; explore both Bunker Hill and Piney Point off Blalock. Memorial Villages police, Memorial Drive Elementary, Spring Branch Middle, and Memorial High. 16,000sf lot priced at $1,175,000. UPDATE: It went under contract in 2 days and closed over list price.  As of today, 12/2/2014, it is the highest sales price psf of land of Memorial lots ranging between 10,000 and 20,000sf.  And worth every penny! Click on the photo above for more details.