Houston Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Nov. 3, 2019

Coming Soon: Equestrian Oasis in Hockley

Bask in serene pastoral surroundings in this breathtaking estate on five beautiful acres, featuring five bedrooms, four full bathrooms, 2 half bathrooms, luxury interiors and an easy commute to Houston.

Property Details

In this impeccably designed 5,360-square-foot showplace, fine finishes and fixtures add designer style and opulence to every room. Premium hardwood and tile pave the floors; soaring ceilings are dotted with recessed lighting and ceiling fans; plantation shutters cover oversized windows; and crown moldings and built-ins run throughout.

Picturesque Landscaping

Arrive in the soaring foyer and take in lovely inlaid floors, custom painted ceilings and a grand staircase with a graceful wrought-iron handrail that mirrors the entry door detail. To the left, the formal dining room is flooded with light and views, and a butler's pantry leads to the magnificent French country kitchen. Chefs will revel in the custom cabinetry topped in granite, the walk-in pantry and the army of top-notch stainless steel appliances, including a French door refrigerator, five-burner gas cooktop with pot filler, two wall ovens, warming drawer, dishwasher and built-in microwave. Enjoy casual meals in the breakfast area or at the breakfast bar, or head outside where the large back patio and outdoor kitchen make dining al fresco irresistible. Alongside the open kitchen, the bright living room is sure to become a gathering place with its gas-log fireplace and stately marble surround.

Kitchen

Head to the enviable master suite to find an expansive bedroom and a boutique-like walk-in custom closet with built-in dressers and shoe storage. The en suite master bathroom is an absolute haven featuring two separate vanities, a jetted soaking tub and a stunning walk-through stone shower for two that feels like a private grotto. Four secondary bedrooms, including a private mother-in-law suite, are well-appointed with walk-in closets and access to private or Jack-and-Jill baths.

Every need has been thoughtfully addressed in this well-planned home. The mudroom entry aids in easy arrivals and exits, and the utility/laundry room includes a sink, side-by-side washer and dryer, ample cabinetry and a second refrigerator. There's a built-in desk in the kitchen, a home gym, two powder rooms, and an impeccable private study with breathtaking cabinetry and double-height ceilings. Upstairs, a mezzanine lounge leads to spectacular home theater, and a large balcony delivers exceptional sunset views.

This home offers a circular drive plus another that leads to the four-car attached garage. The 300-square-foot guest house provides a kitchenette, full bath plus a fifth parking bay. Beautiful landscaping runs throughout the lush 5-acre property, which is zoned for horses, and a pond and bridge add to the rustic tranquility. There's plenty of room for a swimming pool here, and the guest quarters could easily serve as a convenient cabana.

4 Car Garage

This masterful residence is located within the gated Spring Creek Ranch community in Hockley, where residents enjoy outstanding privacy, a central equestrian center and access to highly rated Waller ISD schools. While it feels worlds apart, this magnificent country home offers an easy commute into Houston.

Posted in Coming Soon
June 6, 2019

Leveraging Resources

Compass Concierge is a game changer! Leveraging the company's financial resources for the benefit of our clients. #compassrealestate #compasshouston#compassconcierge #luxuryrealestate #houstonhomelovers #mimsgroup #agentsofcompass

May 25, 2019

We've moved!

Just Joined

Exciting news! We’ve made the move and joined Compass, a technology-driven real estate company. Fusing the best of a brokerage and start-up, it will allow us to elevate our business and provide you with the best service possible. Whether you’re interested in exploring your real estate options or simply want to know more, contact us today to set up an appointment. 

April 5, 2019

New Listing in Shady Acres: 1748 W. 23rd Street, Houston TX 77008

Designed to capture the natural light, this exquisite property in Shady Acres sits conveniently next to Little Thicket Park. Wonderful craftsmanship & attention to detail are abundant in this young property. 2nd floor living with an open floor plan combined with high ceilings & recessed lighting makes for a grand space that is an entertainer’s dream. The kitchen is lavished with Bosch stainless steel appliances, Shiloh cabinets & a large island with granite counter tops. The Master Suite is an ideal place to retire at the end of the day with a soaking tub, separate shower & double sinks. The secondary bedrooms have en-suite bathrooms & are situated on the 1st and 3rd floors. Perhaps the most stunning feature of this property is the beautiful outdoor space. Here you have your very own deck and lushly landscaped backyard along. The balcony will quickly become your favorite place to have your morning coffee. Never flooded. This wonderful home is waiting for you!

 

Posted in Luxury Real Estate
March 15, 2019

New Listing in Katy: 3726 Gable Grove Lane, Katy TX 77494

The best Grand Lakes has to offer! Built by Trendmaker and designed with family in mind, this beautifully updated home has an ideal floorplan with brilliant finishes. Abundant features include: Two story foyer, recent hardwood floors, tile flooring, recent carpet, extensive crown molding, white kitchen, French doors, study (could be fifth bedroom), recessed lighting, fresh interior paint, walk-in pantry, gas cook top, large utility room, 2 gas fireplaces, 2" blinds, jetted tub, large gameroom upstairs, built-in safe, built-in study nook, sprinkler system and so much more! The over sized 3 car garage and Porte Cochere are key components to this desirable property. You will love the large covered patio and spacious backyard! Within easy walking distance to Griffin Elementary and Beckendorff Junior High School. Enjoy bountiful fruit from the lemon tree and two orange trees. Comfortable living at it's finest! Schedule a showing today!

View Listing

Posted in Luxury Real Estate
Feb. 1, 2019

The Power of Price and Presentation - A Story of Unit A & Unit B

When I tell you this story, it is going to sound like one of those classic text book examples where the noise of the real world is filtered out in order to highlight a specific theoretical point.  However, this is an absolute real world example that highlights some of the most common (and costly) home selling mistakes.  As it is with most great stories, it should start with, 

"If I had not seen it with my own two eyes, I would not have believed it."

*These are not the actual units.

The two most important factors within a Seller's control are price and presentation.  Location, size and fixed features are all critical factors, however, when you are ready to sell your property there is very little you can do impact those aspects. You have to play the hand you've been dealt. 

As a home Seller, the decisions surrounding price and presentation largely determine the experience and outcome one will have.  For this real world example, the factors of location, size and features are essentially indistinguishable as we are talking about two almost identical units built right next to one another.

 

 

The Power of Price

Unit A

SQ Ft              2,090

Beds, Baths    3 / 3.5

Less Updated Kitchen cabinets (compared to Unit B)

Less costly, but updated blinds and window treatments (compared  to Unit B)

Listing Price       $342,500

Days on Market    4  This house had multiple full price offers within the first 2 days on market.

 

Unit B

SQ Ft              2,234

Beds, Baths    3 / 3.5

Updated Kitchen cabinets in comparison to A

Premium Blinds in comparison to A

Original List Price      $365,000       

Current List Price      $349,999

Days on Market         198   *As of publishing this blog Unit B was still on the market.

While the list price is almost always the biggest factor in any given home sale, one should never discount the power of presentation.  

 

 

The presentation of Unit A was so powerful that it was almost impossible for buyers to comprehend that the two units were essentially the same and if they were interested in putting an offer on Unit A, you could be better off pursuing a deal with the owner of Unit B.

When selling a home you should invest in two categories of presentation projects.

Permanent: Permanent projects include updating the house to manner that is not your own, but rather what is desirable in today's market.  Projects include: Lighting (sunlight, window treatments, light fixtures), Paint (smells, new and fresh, light), Carpet, Completing deferred maintenance items.

Marketing: Selling a home today is like online dating. If your pictures and profile are not appealing, no one will invest the time to meet you. Marketing projects include: professional photographs, professionally cleaned to ensure fresh smell and staging if the house is empty.

If you or someone you know is considering selling their home, let Dru Mims or Kerry Fletcher of Mims Group Luxury Real Estate help ensure you avoid mistakes that cost you time and money.

 

 

Jan. 24, 2019

Houston's Amazing Veteran Network

Houston's large and dynamic veteran community is an asset to the region and a draw for veterans looking for a new home after transitioning out of the Armed Services. 

I served this country for 11 years in the National Guard, West Point and US Army Infantry.  Being a veteran who has lived all over this country the past 2 decades, I know first hand that the Houston Area veteran network is positively unique. 

It is no accident that Houston sets itself apart as a great city for veterans.  It is the direct result of hard work and innovation from organization such as Combined Arms, Lone Star Veterans Association and Team Rubicon.

https://combinedarms.us/

https://www.lonestarveterans.org/

https://teamrubiconusa.org/

 

 

Rather than viewing veterans as a charity to be served, these organizations recognize veterans as a valuable asset to the community.  They provide resources, coordination and communication to over 30,000 veterans.  They do so in an effort to maximize the positive impact veterans have both individually and collectively.

 

This video highlights how these organizations came together to support Houston in one of its greatest time of need.

If you or someone you know is a veteran considering your next home, I would encourage you to come to Houston and get connected with our great community.

Kerry Fletcher and Dru Mims of Mims Group Luxury Real Estate enjoy being a part of this community and would love to help you find your next home.

 

Jan. 14, 2019

Houston named one of the top travel sites in the World for 2019

I had lunch with an old friend the other day and the topic flowed from kids and work to reminiscing about our time living on the North Shore of Hawaii while in the Army.  My friend, an 18 year Houstonian, expressed how much he and his wife enjoy being here in Houston more than any other place in the world, and I agreed.  We lamented on the "hype" that places like Austin, San Antonio and others receive while Houston always seems to be this wonderful place only us and few million neighbors truly appreciate. 

The perception of Houston, outside of the greater metro area, often seems to focus on its flaws instead of it's amazing uniqueness.  I had a client who is serving his medical Residency at the Medical Center, tell me, "I never wanted to move to Houston until I moved here.  Now I don't want to live anywhere else!"

Well, it looks like the secret is starting to get out.  Now, not one but two national surveys have listed Houston as a top travel destination (see links below).  They sight the affordability of flights and luxury hotels, weather and the abundance of activities through out the area.   

Bloomberg has placed Houston on it's new Places to Travel in 2019 along with other exotic world locations such as Buhtan and Norway, citing our wonderful museums as well as the 50th anniversary of the Moon landing and Johnson space center renovations.  Houston is only one of three US destinations to make the list with the others being Savannah, GA and Fort Lauderdale, FL. 

GOBankingRates puts Houston on it's Best Travel Destinations for Your Money short list based on the combination of affordability and value. 

At Mims Group Luxury Real Estate, we hope some of the new visitors to our fair city decide to call Houston home.  If you or someone you know want to sell your home to one of our new guests, please contact Dru Mims or Kerry Fletcher at Mims Group Luxury Real Estate.

*This blog post was inspired by a story authored by Annie Gallay at Paper City Mag on January 9th of this year.  

 

Jan. 10, 2019

Houston real estate market set new records in 2018

HOUSTON — (January 9, 2019) — The Houston real estate market set new records in 2018 despite uncertainty across the region when the year began, with many survivors of Hurricane Harvey still rebuilding their homes and lives. Single-family home sales for the full year surpassed 2017’s record volume by nearly four percent. However, as 2019 gets underway, housing inventory remains constrained – still sitting below its more balanced pre-Harvey levels.

According to the Houston Association of Realtors’ (HAR) 2018 annual report, single family home sales rose 3.8 percent to 82,177 while sales of all property types totaled 98,323, a 3.7-percent increase over 2017’s record volume. Total dollar volume for full-year 2018 jumped 21.5 percent to a record-breaking $28 billion.

 

“We entered 2018 cautiously optimistic that the Houston real estate market would continue the resilience it showed after Hurricane Harvey, but no one that I know anticipated it being a record year,” said HAR Chair Shannon Cobb Evans with Heritage Texas Properties. “Now, as we look ahead to the new year, federal workers are on edge about the ongoing government shutdown and how that might hurt their cash flow, which could affect housing. And our market is still challenged in terms of housing inventory, which is something that truly needs to improve in 2019 to ensure that real estate remains a vibrant player in the overall Houston economy.

 

December single-family home sales fell 4.1 percent to 6,543 versus December 2017. Only two housing segments saw positive sales activity, with the strongest taking place in the luxury market – that is, homes priced from $750,000 and up. Total property sales for the month declined 4.6 percent to 7,709.

 

The single-family home median price (the figure at which half of the homes sold for more and half sold for less) rose 3.4 percent to $240,000. That marks the highest median price ever for a December. The average price increased 4.7 percent to $306,314, which is also an all-time December high.

 

2018 Annual Market Comparison

 

As 2018 began, Houston’s overall economic landscape showed a gradual return to normalcy, with many Harvey-battered properties coming back online or being demolished and rebuilt altogether, and the resumption of hiring in a variety of industry sectors. Throughout the year, those employment trends contributed to an influx of home buyers and renters to the Houston area from across the country and around the world.

 

When HAR issued its August and September home sales reports, the association cautioned that much of the data was distorted because it compared to the period in 2017 when Hurricane Harvey struck and effectively halted real estate activity for the last week or so of August. Once transactions resumed during the early to middle part of September, the volume was unusually high. This created an exaggerated sales increase for August 2018 and, conversely, an exaggerated decline for September 2018.

 

Housing inventory grew to its highest levels – between a 4.0- and 4.1-months supply – from June through September, but by year’s end, had retreated to a 3.5-months supply as consumers grabbed available properties. Months of inventory estimates the number of months it will take to deplete current active inventory based on the prior 12 months sales activity.

 

By the time the final December sales numbers were tallied, a record 82,177 single-family homes had sold during 2018. That represents an increase of 3.8 percent from the previous record of 79,143 in 2017.

 

On a year-to-date basis, the average price rose 2.6 percent to $298,982 while the median price increased 3.3 percent to $237,500. Total dollar volume for full-year 2018 surged 21.5 percent to a record-setting $28 billion.

December Monthly Market Comparison

 

The Houston housing market generated mixed results in December, with single-family home sales and total property sales down, but total dollar volume and pricing all up compared to December 2017. Month-end pending sales for single-family homes totaled 5,120, an increase of 2.2 percent versus 2017. Total active listings, or the total number of available properties, jumped 13.3 percent from December 2017 to 37,554.

 

Single-family homes inventory grew slightly from a 3.2-months supply to 3.5 months. For perspective, housing inventory across the U.S. currently stands at a 3.9-months supply, according to the latest report from the National Association of Realtors (NAR).

 

 

December Single-Family Homes Update

 

Single-family home sales totaled 6,543, down 4.1 percent from December 2017. The median price rose 3.4 percent to a December high of $240,000. The average price increased 4.7 percent to $306,314. Days on Market (DOM), or the number of days it took the average home to sell, rose from 63 to 64.

 

 

Broken out by housing segment, December sales performed as follows:

 

$1 – $99,999: decreased 31.0 percent

$100,000 – $149,999: decreased 27.5 percent

$150,000 – $249,999: decreased 1.9 percent

$250,000 – $499,999: increased 1.4 percent

$500,000 – $749,999: decreased 7.4 percent

$750,000 and above: increased 20.0 percent

 

HAR also breaks out the sales figures for existing single-family homes. Existing home sales totaled 4,975 in December, down 7.1 percent versus the same month last year. The average sales price rose 5.8 percent to $292,244 while the median sales price increased 3.8 percent to $220,000.

 

Townhouse/Condominium Update

 

Townhome and condominium sales also took a hit in December, falling 7.8 percent, with 506 units selling versus 549 a year earlier. The average price rose 4.6 percent to $206,760 and the median price jumped 8.1 percent to $169,500. Inventory grew from a 3.2-months supply to 3.8 months.

 

 

Lease Property Update

 

Houston’s lease market had a positive performance in December. Single-family home leases climbed 13.2 percent and townhome/condominium leases edged up 1.6 percent. The average rent for single-family homes was flat at $1,771 and the average rent for townhomes/condominiums was also flat at $1,532.

 

Houston Real Estate Highlights for December and Full-Year 2018

 

Despite uncertainties amid Houston’s ongoing recovery from Hurricane Harvey, 2018 proved to be a record year for Houston home sales with 82,177 single-family homes sold versus 79,143 in 2017, the last record-setting year. That represents an increase of 3.8 percent

Total dollar volume for full-year 2018 soared 21.5 percent to $28 billion;

December single-family home sales declined 4.1 percent year-over-year with 6,543 units sold;

Total December property sales fell 4.6 percent to 7,709 units;

Total dollar volume for December edged up 1.0 percent to $2.3 billion;

At $240,000, the single-family home median price rose 3.4 percent to a December high;

The single-family home average price climbed 4.7 percent to a December high of $306,314;

Single-family homes months of inventory grew slightly to a 3.5-months supply;

Townhome/condominium sales fell 7.8 percent, with the average price up 4.6 percent to $206,760 and the median price up 8.1 percent to $169,500;

Leases of single-family homes shot up 13.2 percent with average rent unchanged at $1,771;

Leases of townhomes/condominiums edged up 1.6 percent with average also unchanged at $1,532.

From HAR Press Release

 

 

Jan. 9, 2019

Home Buying Process