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Becky's Best Bungalow Bets for Sept 26: Top 5 + Flood Insurance Rates Rising

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Becky's Best Bungalow Bets for Sept 26: Top 5 + Flood Insurance Rates Rising

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Hello BBBB Friends:

I am featuring 5 new listings today. Plus, there are several large price reductions among homes that are Still on My List. To see all of the price changes and status updates keep scrolling down!

WHAT YOU NEED TO KNOW BEFORE FRIDAY ABOUT THE NEW FLOOD INSURANCE PROGRAM!

Beginning October 1, 2021, Risk Rating 2.0 Equity in Action will go into effect.  If you haven’t heard about this you are not alone, most have not, including some insurance agents and most real estate agents.  The new rating system will be used for all new policies written after October 1st.  Current policyholders will feel the impact of the new system with policy renewals beginning April 1, 2022. The good news is that increases are capped at 18% per year. (And yes, that is good news.)

According to Goosehead Insurance Agency owner, Kim Dugey, “Out of the over 100 flood quotes I have run under the Risk Rating 2.0 system, only 1 has resulted in a price decrease. The overwhelming majority have increases in excess of $1000 per year.”

For example, for my own home in the Heights, which is not in a flood zone, the old rate is $572 while the new rate will be $1866.  The rate for the home next door will go from $572 to $1288.

What should you do if you are required to have, or desire to have flood insurance?

  • If you do not have a flood policy OR if you are buying a new home that is under contract but will close on or after 10/1, get an insurance quote and bind your policy before 10/1 so you get the best rate. (You may also be able to assume the seller’s policy if you act before closing.)
  • If you are planning on buying a home be sure to obtain a flood insurance quote during the option period. The higher rates may bump you out of qualification for the loan.
  • If you already have a flood insurance policy, get a quote for the new rate. If it is less than you are currently paying and your renewal date is before 4/1/22, you are entitled to a reduction in premium upon renewal.  If it is more, then know that on your next renewal after 4/1/22, your rate will increase by 18% every year until you catch up to the rate under Risk Rating 2.0.

Private flood insurance, as opposed to FEMA, is also a possibility for homes that have no prior flood losses. Most private flood policies offer better coverage at a lower price.

Bottom line, call your insurance agent before 10/1. If they have no idea what you are talking about call Kim.

Have a great week and,

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


Information About Brokerage Services
TREC Consumer Protection Notice

Becky Davis
Compass Realty
832-628-8221

Thinking of selling? We can front the cost for painting, landscaping, upgrades, and more. No fees or interest, EVER! Click here for more information. 

*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

905 E 27th St
Presented by Keller Wiliams Metropolitan

905 E 27th St: $649,000

  • Sunset Heights
  • Modern Craftsman c. 2021 by Southern Green
  • 3/2/1, 2456 sq ft on 3000 sq ft lot
  • Open first floor living
  • Open game room or 2nd living area up
  • Large primary bedroom with vaulted ceiling
  • Back porch w/green space
  • Front-loading 2 car attached garage
  • Curbed street (if a bit narrow) provides additional parking
  • Zoned to Field Elementary

Easy access to 610 and I-45. Close to Airline where the new farmer’s market is being redeveloped into a retail and foodie destination, not to mention Heights favorites, Pinkerton’s BBQ, and Houston Dairymaids.

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1022 Peddie
Presented by Greenwood King Properties

1022 Peddie: $650,000

  • Norhill Historic District
  • Craftsman bungalow c. 1930
  • 2/2, 1334 sq ft on 5000 sq ft lot
  • Renovated 2016
  • Exposed shiplap ceiling in living/dining rooms
  • Small area off kitchen with space for a desk
  • Back deck with small yard
  • Driveway access w/ auto gate to over-sized 1 car detached garage-currently a climate-controlled flex space.
  • Curbed street provides additional parking
  • Zoned to Field Elementary

Close to Main Street and within walking distance to Hughie’s, Spanish Flower, and Teotihuacan.

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802 Oxford
Presented by Lot & Block Properties

802 Oxford: $749,000

  • Houston Heights
  • 3/3, 1727 sq ft on 3750 sq ft lot
  • Bungalow c. 1920
  • Renovated 2019
  • Primary suite up with balcony
  • 2 secondary bedrooms down
  • Brick patio, back deck plus green space
  • Small grassy, landscaped back area
  • 1 secured parking space in front plus driveway parking
  • Zoned to Harvard Elementary

Central location within walking/biking distance of Harvard Elementary, Donovan Park, Heights Merchantile plus restaurants on White Oak Boulevard.

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700 E 9th St
Presented by Re/Max Metro

700 E 9th St: $995,000

  • Stude (Houston Heights)
  • Bungalow c. 2018
  • 3/2, 2541 sq ft on 6250 sq ft lot
  • Updated kitchen and baths
  • Large primary suite with tray ceiling
  • Back deck with handicapped access
  • Driveway access w/auto-gate to 2 car detached garage
  • Double parking pad in front
  • Zoned to Harvard Elementary

Rare large, one-story bungalow. Yard space is limited to the landscaped and fenced front area.

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418 W 18th
Presented by Weichert Realtors

418 W 18th St: $1,075,000

  • Houston Heights
  • Recent construction c. 2014 by Rohe & Wright
  • 3/3/1, 3344 sq ft on 3300 sq ft lot
  • Huge kitchen island with seating for 6
  • Primary suite with fireplace
  • Gameroom or 3rd bedroom w/murphy bed on 3rd floor
  • 2nd & 3rd floor balconies overlook the back yard
  • Small yard with cocktail pool potential
  • Alley access to 2 car attached garage
  • Parallel parking pads along both sides of the street
  • Zoned to Field Elementary

If walkability is your goal, this is a great choice. It’s just one block off 19th Street with shopping and dining choices including Heights Waterworks Reservoir featuring Hopdoddy, Common Bond, and Jinya Ramen Bar. The Hike and Bike Trail runs along Nicholson at the west end of the block.

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This Week’s Price Reductions & Status Updates

5407 Sheldon
Presented by Coldwell Banker Realty

PRICE REDUCED

5407 Sheldon: $699,500 was $725,000

  • Sheldon (Houston Heights)
  • Craftsman Bungalow c. 2020
  • 3/2/1, 1836 sq ft on 5000 sq ft lot
  • Updated kitchen and baths
  • 2 living areas
  • Screened in back porch ❤️
  • Climate controlled workshop/storage bldg
  • Fenced, landscaped front yard, bricked (stamped concrete) back yard
  • Driveway parking, auto-gate
  • Zoned to Field Elementary

Sheldon is a little-known street tucked between 18th and 19th St and dead-ending into Field Elementary. Walk to restaurants on 20th including Chilosos and Jenni’s Noodle House.

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Presented by Coldwell Banker Realty

PRICE REDUCED

1115 Peddie: 925,000 was $1,375,000 (note: now excludes side lot)

  • Norhill Historic District
  • Craftsman bungalow c. 1929
  • 3/2, 1661 sq ft on 5,000 sq ft lot
  • House and garage apartment updated 2021
  • Garage APT (562 sq ft. 1 bedroom w/full bath and kitchen)
  • Driveway access with auto-gate to 2 car detached ‘garport’ with bonus climate-controlled space
  • Second lot/side yard with guesthouse (520 sf, 1 bedroom w/full bath)
  • Curbed street provides additional parking
  • Zoned to Field Elementary

Unusual double lot in North Norhill. The house and garage apartment are contributing structures in the Norhill Historic District. The guest house is on a lot that is platted separately. It was built in 1950 is not contributing. Check with a lender for financing requirements for this multi-building property.

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Presented by Compass Real Estate

PRICE REDUCED

3724 Julian: $1,035,000 was $1,149,000

  • Woodland Heights Annex
  • Craftsman bungalow c. 1930
  • 4/3, 2661 sq ft on 5000 sq ft lot
  • Renovated kitchen and baths
  • Accordion patio door leading to side yard area
  • Primary suite up, 3 secondary bedrooms down
  • 2nd story deck with wet bar
  • 2 Side yards: landscaping, raised beds, and pavers with inlaid grass
  • Driveway access to attached 2 car garage ☂️
  • Curbed street provides additional parking
  • Zoned to Browning Elementary

Beautifully renovated and expanded bungalow located within walking distance of neighborhood shops and restaurants. Proctor Plaza Park is just 2 blocks away.

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Presented by Compass Real Estate

BACK ON MARKET

925 Tulane #B: $1,150,000

  • Houston Heights
  • Greek Revival, c. 2018 by Ansari Homes
  • 4/4/1, 3728 sq ft on 3300 sq ft lot
  • Designed by Creole Design
  • Double gallery front porches
  • All bedrooms with en suite baths
  • Nicely designed primary closet
  • Game room with full bath on 3rd floor
  • Tiled back patio and pet patch
  • Alley access to 2 car detached garage with covered walkway
  • Zoned to Love Elementary

While short on yard space this home is only 2 blocks off the Hike ad Bike Trail and within walking distance of Heights Mercantile and M-K-T.

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721 E 21st St
Presented by Coldwell Banker Realty

OPTION PENDING

721 E 21st St: $599,000

  • Sunset Heights
  • Modern Craftsman c. 2011 by Mazzarino Const.
  • 3/2/1, 2320 sq ft on 3219 sq ft lot
  • Original List Price:  $785,000
  • Days on Market: 8

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Presented by Nan & Company Properties

OPTION PENDING

1124 W Temple: $620,000

  • Norhill Historic District
  • Craftsman bungalow c. 1930
  • 2/2, 1638 sq ft on 5000 sq ft lot
  • Original List Price:  $630,000
  • Days on Market: 22

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Presented by Realm Real Estate

OPTION PENDING

1132 Nadine: $639,900

  • Stude (south of East Sunset Heights)
  • Garage front modern Craftsman c. 2014 by Bayou Banks
  • 3/2/1, 2782 sq ft on 3200 sq ft lot
  • Original List Price:  $644,900
  • Days on Market: 17

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1121 E 16th
Presented by Buffalo Bayou Realty

OPTION PENDING

1120 E 16th St: $685,000

  • Norhill Historic District
  • 3/2, 1553 sq ft on 5000 sq ft lot
  • Craftsman bungalow c. 1928
  • Original List Price:  $685,000
  • Days on Market: 7

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Presented by Greenwood King Properties

OPTION PENDING

1609 Arlington: $1,300,000

  • Heights East Historic District
  • Queen Anne cottage c. 1908
  • 4/3/1, 3068 sq ft on 6600 sq ft lot
  • Original List Price:  $1,300,000
  • Days on Market: 17

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Going, Going Gone!

Presented by Compass Real Estate

SOLD

4035 Norhill: $555,000

  • Norhill Historic District
  • Pediment bungalow c. 1939
  • 2/2/1, 1094 sq ft on 5000 sq ft lot
  • Price at Time of Contract:  $559,000
  • List to Sell Ratio: 99%
  • Original List Price:  $579,000
  • Days on Market:  24

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Presented by Keller Williams Metro

SOLD

710 E 25th St: $610,000

  • Sunset Heights
  • Craftsman influenced c. 2012 by Mazzarino Construction
  • 3/2/1, 2479 sq ft on 3000 sq ft lot
  • Price at Time of Contract:  $625,000
  • List to Sell Ratio: 98%
  • Original List Price:  $625,000
  • Days on Market:  61
  • Seller Contribution to Buyer Closing Costs: $2,500

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331 W 22nd
Presented by Compass Real Estate

SOLD

331 W 22nd St: $798,000

  • Houston Heights
  • Colonial Revival c. 2008 by TW Builders
  • 3/2/1, 2322 sq ft on 4366 sq ft lot
  • Price at Time of Contract:  $789,000
  • List to Sell Ratio: 101%
  • Original List Price:  $789,000
  • Days on Market:  4

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Presented by Compass Real Estate

SOLD

609 W 18th St: $860,000

  • Houston Heights
  • Greek Revival c. 2011 by Distinctive Living
  • 4/3/1, 2196 sq ft on 3275 sq ft lot
  • Price at Time of Contract:  $845,000
  • List to Sell Ratio: 102%
  • Original List Price:  $845,000
  • Days on Market:  17

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Presented by Compass Real Estate

SOLD

606 Merrill: $1,275,000

  • Woodland Heights
  • Cape Cod cottage c. 1920/2010
  • 3/3/1, 3092 sq ft on a 5350 sq ft lot
  • Price at Time of Contract:  $1,275,000
  • List to Sell Ratio: 100%
  • Original List Price:  $1,275,000
  • Days on Market:  5

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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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