Page 1B • The Leader • June 22, 2013 • www.theleadernews.com
The boom just won’t let up; home sales continue surge Just when you thought the pace of Houston home sales – including those in Leader-area ZIP codes – could move no faster nor home prices climb any higher, they do. May marked the 24th consecutive month – two straight years – of positive sales, and brought a continued flurry of home buying that accounted for the largest one-month sales volume of all time and record-high pricing. This buying frenzy caused a further shrinkage in the supply of homes on the market. Leader neighborhoods almost uniformly showed both sales figures and
prices increasing in double digits in the year-over-year comparisons for May. The 77007 ZIP posted the healthiest growth once again. There was a 32 percent increase in sales over May of 2012, with 360 homes sold, and the average price of a single family home streaking up 22 percent, to $473,239. Heights communities were strong performers too. The 77008 ZIP showed 368 homes sold, an 18 percent increase over last May, with the average price increasing by 11.5 percent, to $395,249. In ZIP 77009, 168 homes sold, an increase of 35.5 percent, and average prices were up 7 per-
cent, to $312,925. The hot 77018 ZIP code saw 228 homes change hands in May, up 17.5 percent over this time last year, and the average price went up 17 percent, to $347,826. Although sales figures aren’t as sizable, the 77091 ZIP posted a whopping 53 percent gain over May 2011, with 56 homes selling, and prices rising 36 percent, to an average of $127,871. Sales were flat in the 77092 ZIP – 78 for a 1.3 percent gain – but values there jumped by 18.9 percent to $158,724. According to the latest monthly report prepared by the Houston Association of
REALTORS® (HAR), home sales jumped 28 percent compared to last May, with contracts closing on 7,794 single-family homes. The last time the market approached that volume in a single month was in June 2006 when 7,688 transactions closed. Housing inventory, which reached a 13-year low of 3.6 months during the first two months of the year, dipping to 3.5 months in March and 3.4 months in April, stood at 3.3 months at the end of May. The median price of a single-family home—the figure at which half the homes sold for more and half for less—rose 11.9
percent to $188,000. The average price increased 9 percent year-over-year to $256,790. Both represent the highest prices of all time. All housing segments experienced gains except for those priced under $80,000. Homes selling between $150,000 and $500,000 registered the greatest increase in sales volume. “The Houston real estate market has held to positive territory for two years running and you’d be hard-pressed to find a market anywhere in the U.S. as vibrant as ours,” said HAR
see Sales • Page 2B
A Do-it-Yourself Do-Over in Sunset Heights
The La Vano Catholic Church incorporates a number of architectural influences. (Photo by Everett Denson)
Architecture guide shows local treasures by Betsy Denson betsy@theleadernews.com
Frugal decision works for local couple by Cynthia Lescalleet For The Leader There’s nothing quite like a looming 30 percent apartment rent increase to rethink your homeownership financial equation. Or so the 2012 newlyweds discovered soon into their new life together. Since accounting consultant Lisa and energy trader Ian, both 27, didn’t want a large mortgage either, they opted for a fixer-upper. Call their do-it-yourself decision a frugal financial choice, a bonding experience or even an early test of their vows. Finding a home to morph into their starter dream home took some persistent looking, however, given what Ian called a “brutal” market for buyers in the Heights and its hinterlands. After a few false starts (Translation: competing bids beat them out of several listings they liked), the couple lucked into an “adorable cottage that was pretty decent, except for the kitchen. So we began there,” he described in a quip-filled emailed account of their project in Sunset Heights. “The initial scope was to tear out the
counters and floors, pop in new ones and we would be done in a few months. Easy peasy.” The actual scope for their steeply gabled 1930 home, however, encountered the usual roadblocks and a few just-do-it temptations to overhaul more than planned since construction chaos often does that. “Once you start digging into the bones of an old house, you realize both a.) ‘Wasn’t that adorable how naïve I was?’ and b.) ‘Wow, I am in pretty deep here.’”
Just tooling around
Still, they stuck with the DIY approach, Ian explained in a follow-up interview. Their thinking was: “There’s no way we’re going to pay a contractor to do it and have all that fun.” Getting into the demo gear was a real high point, he added. Down came the kitchen cabinets and up came the floor. That’s when they discovered the drywall was “thin, ancient, and worse for the wear.” So, down came the drywall.
see Sunset Heights • Page 2B
What didn’t appear to be a daunting makeover of this Sunset Heights kitchen took on added layers once the homeowners started the renovation. The end result was an expansion, with new cabinets and flooring. (Submitted photos)
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Architecture may not be the first thing that comes to mind when people think about Houston, but considering the way we love to build things, there’s certainly a lot to contemplate. What’s more, famed architectural historian Stephen Fox has done all the heavy lifting for you. The AIA Houston Architectural Guide 3rd Edition has been out since October of 2012. A five-year labor of love for Fox, it is an update of the 1999 2nd edition and contains 1,391 entries. Two of the sections will be of special interest to Leader readers – Tour H-1 which covers The Heights and Tour M which includes Garden Oaks and Oak Forest. Some examples from both tours offer a window to past and present. •Tour H-1 – The Heights includes 93 sites of interest, almost half of them residences. Fox writes, “Houston Heights was no mere ‘addition’ to the city of Houston. It was the first large, planned community undertaken locally, and its central thoroughfare, Heights Boulevard, was the first divided boulevard laid out in the Houston area.” •H-3 Citizens State Bank Building [now Rockefeller Hall], 3620 Washington Avenue – built in 1925, Joseph Finger. Fox says that “Finger’s classically detailed façade still stands out from, yet is still a part of, the strip of commercial buildings along Washington.” He also gives props to the rehab of the façade by Taft Architects in 1978. •H-14 Dow Elementary School [now Multicultural Education and Counseling through the Arts Center], 1900 Kane Street – built in 1912 , C.H. Page & Brother. Austin architect Charles Page “specialized in
see Attention • Page 2B