COMMENT OF THE DAY: BEWARE OF NEIGHBORHOOD AVERAGES 
“Anything zoomed out to the neighborhood scale post-Harvey impact-wise waters down the data so much as to be useless. In the Knollwood-Woodside area where homes are “up ~3%,†it’s a mix of ~$800k newbuilds that mostly didn’t flood and ~$400-500k 1950s houses, some of which flooded and many-most that didn’t. That means any additional newbuild sale immediately skews the pricing average. What has already hit the market lately are mostly original homes that flooded, being sold as-is as teardowns (continuing the trend of the neighborhood), with lot-value on an upswing. I guess I presume all of Knollwood will be new construction in the near future, and almost all of ‘greater Braeswood’ being new construction soon, with everything getting higher elevations . . .” [juancarlos31, commenting on Harvey’s Effect on Housing Prices, Neighborhood by Neighborhood; Houston Press Stops the Presses; Astros Fans Flood Downtown] Photo of house for sale at 8311 Lorrie Dr., Knollwood Village: HAR
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I’m building my new home 2 stories -as in 10 feet per level- up on concrete & steel re-enforced piers that will have footings 40 feet below ground. Cause by the time all is said & done, Houston WILL have several more 500 year floods and one 40,000 year flood (Harvey) !!! Not in the COH. Dealing with those $ grubbing bureaucratic shysters can drive any one to the brink of desperation !!!
I’ve been tracking tear-downs in KV for a year, and asking prices have been $45-50 per lot square foot pre and post Harvey. New construction will be elevated anyway, so other factors will always be more important, such as location, location and location.