- 2015 Was the Best Year Ever for Texas Homes Sales [Realty News Report]
- Air Conditioning Supplier and Natural Gas Equipment Manufacturer Headed for Land in Rosenberg Business Park [Realty News Report]
- 12-Story, 157-Room Hyatt Place Houston Galleria Now Open at 5252 W. Alabama [Houston Chronicle]
- Shoppes at ParkWest Near Grand Pkwy. Signs Anchor Tenants, Nears Completion [HBJ]
- New $45M Typhoon Texas Waterpark Next to Katy Mills Mall Will Open May 28 [HBJ; previously on Swamplot]
- Kirby Ice House Set To Debut in Late March in Upper Kirby [Culturemap; previously on Swamplot]
- Houston’s First Micro-Unit Condo The Ivy Lofts Already Has Dozens of Buyers Lined Up [HBJ; previously on Swamplot]
- Westmoreland the Best Inner-Loop Neighborhood for First-Time Homebuyers, According to Redfin [HBJ]
Photo: Jen Buccholtz via Swamplot Flickr Pool
Dozens you say….
Seriously though who in their right mind would spend 375k on a 700 sf condo when you could, literally right next door, buy a brand new 1500+ sf townhouse. Or if you’re willing to make the oh so arduous treck of 1-2 miles or so to the east buy a very nice house in Eastwood. For less. I mean there was a really nice split level duplex in Eastwood on the market less than a year ago (2×2/2’s I think) for only 300.
Most (if not all) of the interest must be coming from the low-end units. Some people are obsessed with new construction, and there aren’t that many high-rise condos being built in the area. Still, how is a unit that’s 2.33x larger going for over 3x the price- especially when association fees are usually tied to square footage? Speaking of which, association fees seem abnormally low for a high-rise at 100-200 dollars per month.
You are forgetting about foreign buyers who are looking for a second home or investment property. They don’t want the upkeep of a single family house and don’t need the space.
Westmoreland the best for first-time home buyers?! Cody, have you hacked into the HBJ?
We looked in Westmoreland for five years before finding something a couple miles down the road. There would typically be zero or one house we liked on the market at a time, that we could afford, and we were NOT first-time home buyers, but rather a couple of mid-career white-collar professionals.
I attended the Ivy Loft event and many of the units had already been reserved by investors in the project. Most of the people there were New York transplants and they were reserving the more expensive, “larger” units with the best views.
Westmoreland Affordable for first time buyers? Um, no.
Who are these ‘first time buyers’ buying in Westmoreland? Can they give me some of their money?
WTF is Redfin and how is its data any better than Zillow? Sounds a lot like a Zillow article.
I love it when Redfin and Zillow publish lists like these. It really proves how valuable their “national database” of info is to local markets.