Fixer Upper – Memorial Style – Dining Room to Study

Your home is just that….YOURS. Every homeowner has different needs and this family, like many today, didn’t need a formal dining room. Instead this space is now the super convenient study and homework area adjacent to the kitchen. For future resale there is a formal living room which could be the dining room. Generally entertaining style has become much less formal and formal dining rooms are not as important as they used to be to many families. I really appreciate Lillian Lehman who puts her clients first….what are their lifestyle needs? She was so helpful to my client in designing their remodel to suit their lifestyle.
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Fixer Upper – Memorial Style – Kitchen

My clients bought this home and engaged Lehman Construction to remodel it for them. Bob Lehman is a builder and his wife Lillian Lehman, is a designer. Together they are a great team who transformed this original owner home into a happy home designed for today’s active family.
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Notice how the window was enlarged and relocated to provide more light streaming into these rooms. New appliances nestled into cabinets that close beautifully. Sleek, functional and stylish. The peninsula is the cozy family gathering spot….simply brilliant!

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!

How much can I spend on remodeling and not loose money on resale?

13726 Queensbury in Wilchester West, was listed at $850,000 or $239psf and went under contract in 6 days.

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I recently answered this question for clients in two neighborhoods: Wilchester/Wilchester West north and south of Memorial. These neighborhoods have lovely homes with good floorplans that lend themselves to remodeling. New construction nearby is just under $1,000,000 and above and often in the $250-$260psf range.  With homes in short supply families find themselves looking at purchasing a home in original condition and spending several hundred thousand in remodeling. The numbers can seem staggering at first but you have to look at what beautifully remodeled homes in the neighborhood are selling for.

Also these neighborhoods have been very much in demand and will most likely continue to experience rising prices.  So I looked at what homes south of Memorial were selling for:  several had sold around $850,000 with varying amounts of remodeling.  For the homes north of Memorial the top dollar sales were around $800,000.  It’s a viable option for families who want to live in these wonderful neighborhoods.

Winning Wilchester

Wilchester (and Wilchester West) have always been a strong market.  With inventories low this year all across the board, Wilchester has one of the lowest inventories…less than a month’s supply as of the end of July.  Through the end of July 2012 the average sales price of homes sold was up 13% from $525,000 (thru 7/2011) to $591,000 (thru 7/2012).  Even though the numbers might have been slightly skewed by two homes that sold that were practically new construction, Wilchester homes have appreciated nicely this year.  The average sales price psf was $186psf and ranged between $149 to $227psf depending on the location, lot size, updates, etc.  The prices of homes sold ranged from $350,000 (foreclosure) to $839,000 and the size ranged from 2500 to 5100 sf.

Wilchester is a wonderful neighborhood with lots of community activites. Check out the women’s group, tennis (women and mens leagues), pool, park info and deed restrictions at:

www.wilchester.org

The neighborhoods south of Memorial are have access to the Terry Hershey Park trails along Buffalo Bayou.

Also links for the school are:

www.wilchesterpta.com  for the elementary PTA
www.wce.springbranchisd.com  for the elementary school (recently completed!!)
www.memorialmiddleschoolpta.com  for the middle school PTA
www.mms.springbranchisd.com  for the middle school
www.stratfordptsa.txpta.org  for high school PTA
www.ssh.springbranchisd.com  for the high school

13303 Perthshire in Wilchester

Significant price appreciation over last year in Memorial, Memorial Villages, Spring Valley and Wilchester

The numbers are out for the first half of 2012 and the Memorial market has been WOW this spring.  Overall price increases over last year are:

Memorial                  +7%     (city of Houston)

Memorial Villages  +9%   (Bunker Hill, Hedwig, Hunters Creek and Piney Point)

Spring Valley           +14%

Wilchester                +14%

 

Inventory has been and remains low.

However Tanglewood saw a 10% price decrease for the first half over last year, a result of more inventory available in the upper end homes.

 

Here’s the link:  http://www.greenwoodking.com/images/pdf/marketreport6.pdf    for the full report on the markets Greenwood King specializes in.