Real Estate and More
VE Market Update
There are currently five Venetian Estates properties listed for sale on HAR.COM. These properties range in price from $565,000 for the vacant lot on Capri to $2.1 million for the stunning home located at 203 Savoy Street. Other properties are priced at $795,000, $995,000 and $1.8 M. Call us for details!! During the past six months there have been four Venetian sales. FBRE both listed and sold each of these properties!
We recently closed on an off-market sale (working as an intermediary between the seller and the buyer. )The prospective buyer was referred to us by a past client and (future VE neighbor) who introduced us to her friend by saying, “I want to connect you with Susan and Kelly, the quintessential Realtors in Venetian Estates.” We are so appreciative of referrals from neighbors and past clients! This particular prospect was not very familiar with VE. Kelly spent a great deal of time touring the neighborhood, going over a neighborhood aerial lot by lot, pointing out the perks of living here, and explaining our history and current real estate values. After the property was under contract we worked with the appraiser, who had very little knowledge of VE, to explain past sales and valuation nuances to him. The sale closing was a win-win for both the buyer and the seller. As always, we are sad when present neighbors move away, yet it brings such joy to share the treasure of VE with new neighbors, who will soon be friends and active members of our community! (Look for new-neighbor information in a future newsletter.)
Kelly recently posted the gorgeous photos of 203 Savoy online as well as the amazing virtual tour which truly gives you the actual perspective within this luxurious, yet wonderfully livable home. The private master suite, three of the secondary bedrooms, with en suite baths, and the expansive living areas are all located on the first floor. Walk through the home online and then call Kelly for a personal tour if you would like to consider moving within the neighborhood to this remarkable home on an expansive lot with an incredible backyard breeze! Share this info with friends who would love to live in a new home in our neighborhood but prefer to avoid the construction- building process.
Real-Estate Investment Outlook
Dr. Ted C Jones, PhD and chief economist/Sr. VP of Stewart Title predicts that, post COVID-19, there will be pent-up demand for real estate Driving factors include stock-market volatility, oil markets, and inflationary concerns. People will see real estate as a safer place to invest their money. Ted foresees even further declines in mortgage rates—perhaps below 3%. What a great time to buy!
We participated in an online conference with another one of our favorite economists, Mark Dotzour. Mark emphasized how all facets of real estate, from commercial to ranch to residential, are especially attractive in the current and future environments. Mark specially noted that, after working remotely through COVID-19 orders, employers and employees will see less need for full “in-the-office” hours, and, as a result, suburban neighborhoods will see increased demand. Indeed, considering its serene setting combined with easy access, VE is the very best suburban neighborhood in greater Houston!
We sold 106 Capri, and Julie and Mark Macdonell are now in the process of moving to the charming Belknap-Brookside neighborhood, where FBRE previously represented both of their daughters in the purchase of homes. Now Julie and Mark are so excited to join their daughters, sons-in-law, and grandkids there! And we are so excited that our new 106 Capri neighbors will be Katie (Friedman) and Andrew Faught, who are relocating from San Antonio. Katie grew up alongside Kelly and Kristin in our home at 534 Lombardy and then later at our present home on Santa Maria. She’s a highly decorated VE Fishing Tournament Champion 😊 Katie and Andrew have two children, Darcy Drew (4) and William Beau (3). Their family includes Goose, an Australian Mini Shepherd, and Charley Cat. Katie is a Realtor with Phyllis Browning Co., a luxury real estate firm in San Antonio. Katie will be joining Ferguson + FBRE after she completes her commitments to her clients in San Antonio. Andrew is a mortgage loan officer with the investment lending firm of Corridor Funding, securing financing for clients all over the U.S.