Becky's Best Bungalow Bets for Aug 20, 2023: Short List + Market Update

Hello BBBB Friends:

Along with the market’s latest buzz, I’ve got a short list of 3 new listings to share today! Plus, keep scrolling down to see status changes, including price changes, new contracts, and final sales for homes that are Still on My List!

REAL ESTATE MARKET UPDATE

INTEREST RATE 411:

Alright, here’s the scoop: The 30-year fixed mortgage rate has climbed up to 7.09% this week from 6.96% the previous week, according to Freddie Mac’s latest report. Just a year ago, it was sitting at a more comfortable 5.13%. These rates have been hovering above 6.5% since late May and took a sharper hike in mid-July. The last time we saw them tip over 7% was last November, reaching 7.08%. And for a fun fact, this week’s rate is the highest we’ve seen since way back in April 2002 when it was 7.13%.

JULY 2023 MARKET REPORT

The real estate market experienced an uptick in active listings and a notable decrease in sales in July. Properties lingered for longer periods on the market, with the median days on market stretching out to 21 days. A silver lining for home sellers was the nearly unchanged list-to-close price ratio, hovering around 100%. This implies that homes were, on average, selling at their listed price. Yet, from the preceding month, median sales prices underwent a 6.3% depreciation.

FOR THE FULL MARKET UPDATE WITH STATISTICS, CLICK HERE

Have a great week, and,

Let’s look at houses or talk about selling yours!

Becky Davis

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Information About Brokerage Services
TREC Consumer Protection Notice

Becky Davis
Compass Realty
832-628-8221

*Note: For purposes of BBBB, the “Heights” is defined as the area between I-10 and Loop 610 N and between Shepherd and I-45).

The Week’s Featured Properties

808 W Melwood: $599,000

Norhill Historic District
Craftsman bungalow, c. 1930
2/1, 1366 sq ft on a 5512 sq ft lot
Updated kitchen and bath
Home office/flex room
Backyard with patio and green space
Gated driveway access to 1-car detached garage
Curbed Street
Zoned to Browning Elementary

You’ll find lighted tennis courts, a playground, and an outdoor pavilion just a stone’s throw away at Proctor Plaza Community Center and Park.

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1544 Cortlandt: $1,149,990

Heights East Historic District
Craftsman bungalow, c 1920
3/2, 1796 sq ft on a 6600 sq ft lot
Renovated 2018
Separate living and family rooms
Back deck, patio, and green space
Garage APT (552 sq ft, one bedroom, full bath & kitchen)
Gated driveway access to 2-car detached garage
Zoned to Field Elementary

Back in 2017, I spotlighted this home as a diamond in the rough. It was on the market for $575,000 and sold for $535,000. Fast forward to 2018, the new owners gave it a makeover and threw in a 2-car garage with a cozy apartment on top. I love seeing such transformations.

******

1006 W 9th St: $1,250,000

Harding Heights (West Houston Heights)
Contemporary/Modern, c. 2005
3/2/1, 2950 sq ft on a 4825 sq ft lot
Recent interior and exterior renovations
Interesting accent walls in dining, family room & primary bedroom
2nd-floor flex space/game room with balcony entrance
Primary suite with tray ceiling, sitting area, balcony & ensuite bath
Covered porches and lush, turfed side yard
Garage APT (400 sq ft, efficiency, full bath & kitchen)
Driveway access to 2-car detached garage
Corner lot, parking pads
Zoned to Love Elementary

This home, initially designed in a Victorian style, has been renovated by the current owners both inside and out, giving it a more modern appearance and ambiance.

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This Week’s Price Reductions & Status Updates

PRICE REDUCED

517 E 11th St: $829,000 was $839,001

Houston Heights
Brownstone, c. 2001
3/2/1, 3036 sq ft on a 2800 sq ft lot
Pine flooring
Island kitchen with stained wood cabinets
Primary suite and flex room on 3rd floor
2 secondary bedrooms on 1st floor
Fenced low-maintenance turfed front yard provides green space
Rooftop deck
Alley access to 2-car attached garage
Zoned to Harvard Elementary

Situated opposite Buchanan’s Nursery and just a short walk from some of the most popular spots in Heights, including Field and Tide and Dish Society.

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PRICE REDUCED

743 E 7th: $840,000 was $855,000

Stude (Houston Heights)
Craftsman bungalow, c. 1920
3/2, 1456 sq ft on a 6250 sq ft lot
Kitchen and bath updates
Study/home office or 2nd living space
Large primary bedroom
Bricked back yard, fenced front green space
Garage APT (400 sq feet, efficiency, full bath, no kitchen)
Gated driveway access to 1-car detached garage
Curbed street
Zoned to Harvard Elementary

Cute bungalow, just one house off Studewood. Walk to restaurants on Studewood and White Oak Dr.

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PRICE REDUCED

1208 Tulane: $1,450,000 was $1,495,000

Heights West Historic District
Craftsman bungalow c. 1930
4/4, 3349 sq ft on a 6600 sq ft lot
Expanded/renovated in 2019 by L&B Limited
Study/home office
One secondary bedroom down with access to a full bath
Chef’s kitchen with Thermador appliances and island seating for 5
Primary bedroom plus 2 secondary bedrooms up all with ensuite baths
Large fenced front yard plus side yards
Alley access to 2-car attached garage
Front parking pad
Zoned to Love Elementary

One of my favorite features is the coffered, bead-board ceiling in the dining room. Additional bead-board ceilings are found on the front porch and foyer.

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PRICE REDUCED

714 E 13th 1/2 St: $1,798,950 was $1,865,000

Kutschbach (Houston Heights)
Craftsman meets Queen Anne, c. 2022, by Woodrock Homes
4/4/1, 4293 sq ft on 6250 sq ft lot
Wide-plank engineered hardwood floors
Study/home office
Island kitchen with tons of counter space and Thermador appliances
Huge primary suite
3 secondary bedrooms, each with an ensuite bath
Large game room with access to the balcony
Covered brick patio plus small yard
Driveway access to 2-car attached garage
Additional driveway parking
Zoned to Field Elementary

The primary suite measures over 650 square feet, with the primary bedroom and bath being approximately the same size. 😮

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Presented by Martha Turner Sotheby’s Int’l Realty

OPTION PENDING

216 Teetshorn: $949,000

Woodland Heights
Re-imagined Craftsman, c. 1926
4/3/1, 2631 sq ft on a 5000 sq ft lot
Original List Price: $999,000
Days on Market: 27

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OPTION PENDING

515 W 23rd St: $1,150,000

Houston Heights
Greek Revival, c. 2019 by Enterra Homes
3/3/1, 2765 sq ft on a 3275 sq ft lot
Original List Price: $1,150,000
Days on Market: 22

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OPTION PENDING

605 Euclid: $1,299,000

Woodland Heights Historic District
Craftsman bungalow, c. 1930
3/3/1, 2750 sq ft on a 5000 sq ft lot
Original List Price: $1,299,000
Days on Market: 2

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Presented by Keller Williams Metropolitan

OPTION PENDING

1229 Herkimer: $1,650,000

Houston Heights
Ranch style, c. 1955
4/3/1, 3019 sq ft on a 13,999 sq ft lot
Original List Price: $1,650,000
Days on Market: 4

******

Going, Going, Gone!

SOLD

508 Cordell: $865,000

Brooke Smith
Modern farmhouse, c. 2017 by Project Bungalow
3/2/1, 2758 sq ft on 5000 sq ft lot
Price at Time of Contract: $895,000
List to Sell Ratio: 97%
Original List Price: $925,000
Days on Market: 149
Title Paid By: Seller
Seller Contribution to Buyer Closing Costs: $1,000

*****

SOLD

162 Vieux Carre: $992,500

Woodland Park Place
Contemporary/modern, c. 2007
3/3/2, 3445 sq ft on a 5567 sq ft lot
Price at Time of Contract: $999,000
List to Sell Ratio: 99%
Original List Price: $999,000
Days on Market: 10
Title Paid By: Seller

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SOLD

448 W 23rd St: $1,472,000

Houston Heights
Modern farmhouse, c. 2017 by Sullivan Builders
3/2/1, 3078 sq ft on a 6550 sq ft lot
Price at Time of Contract: $1,469,000
List to Sell Ratio: 100%
Original List Price: $1,472,000
Days on Market: 2
Title Paid By: Seller

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But wait, there’s more…

This is just the latest and greatest; however, there are still lots more on my list that you can check out here:

BBBB: Still on my list!

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