Merry Christmas and Happy New Year everyone! It’s been a huge blessing for me to be in Houston during the last quarter of the year and get the opportunity to meet many of you. Regardless of what we are doing in real estate all of us are pursuing financial freedom and safety for our families. By Q1 we should have 21 more units online! I’m really thankful for our growth over the last year and the hard work our team has put in to becoming great. As always follow project updates on our Facebook page. See below in our articles section, Rice University named Third Ward one of the most likely to appreciate areas in Houston. I continue to be excited for this area. Beginning with Emancipation Park we are seeing quite a bit of infrastructure added into the area.
On the WoodBaker front we made our company goals earlier this month and shared them with our team. I hope you achieve your real estate goals in 2019 and look forward to working with you in the new year! If we can help you with your property management or contracting needs don’t hesitate to email me at firstname.lastname@example.org.
I Need a $4-10M Apartment Complex
Woodbaker and our investors are looking for an apartment complex between $4-10M in the Houston area. If you have any leads please reach out to me at email@example.com.
MLS Monthly Article
In mid-November the MLS released their monthly report. Here is a look at the table for November of this year:
The market appears to be stabilized with less than 5% growth across the board. Many of my national real estate friends feel that the market is cresting. On the West Coast prices have dropped off slightly. I’m still trying to sell my Bay Area home and most likely will take a small loss on the property. My experience isn’t unique for this time of year and with rising interest rates!
Here is a breakdown by segment of sales for the year. Luxury appears to be the outlier this month:
- $1 – $99,999: decreased 25.3 percent
- $100,000 – $149,999: decreased 24.3 percent
- $150,000 – $249,999: increased 2.3 percent
- $250,000 – $499,999: increased 7.2 percent
- $500,000 – $749,999: increased 1.9 percent
- $750,000 and above: increased 12.3 percent
Consumers kept Houston’s lease market humming in November. Single-family home rentals soared 15.3 percent while leases of townhomes and condominiums rose 0.6 percent. The average rent for single-family homes declined 1.3 percent to $1,743 while the average rent for townhomes and condominiums edged up 0.5 percent to $1,505.
I linked some important articles below. I read 20-30 articles and cherry pick the ones that I find most valuable. Here are a few articles worth reading:
Rice University Report on Gentrification in Houston
If you follow this newsletter you know we recently bought in Third Ward. A Rice University study found that Third Ward, Fifth Ward, Gulfton, OST/South Union, and Denver Harbor the most likely to gentrify in the future.There are many interesting charts in the report including susceptibility index which supports the theory from national researchers and made popular in the book Walkable City stating the desire of Millennials to move interior to the city. Greenspoint is also mentioned, but given that the area has significant flooding problems I would not recommend it for investors.
More Apartments Planned Near Buffalo Bayou Park and Montrose
166 units are planned to break ground at the corner of W Dallas and Shepherd. This area already has several large complexes and with quick access to downtown along with Buffalo Bayou Park it is a high demand area for young professionals.
Houston Developer Plans Mixed Use Play Near Memorial City
The Spring Branch and Memorial City Area (Gaylord and Bunker Hill) just west of I10 is seeing a lot of new development. As Katy has become more popular along I10 has really seen a pick up in development. If you have been following development over the last 10 years or so, particularly on the coast, mixed use development is all the rage. That is starting to become big in Houston as well. Many mention the River Oaks shopping center because it was one of the first, but I imagine more stacked development with shopping on floor 1, office space on floor 2, and apartments on floor 3. Particularly as more people work from home I expect there to be a smaller demand for large floors of buildings except with the exceptionally large companies.
Grand Parkway and Katy Is Booming
Katy is still undergoing massive development particularly around the Grand Parkway. 900 homes will be added just outside the parkway and north of I10 over the next couple of years. The new loop has added a ton of demand for additional housing along 99.
Have A Deal?
WoodBaker creates win/win situations for the sellers of properties. We buy, rehab, and rent properties for investors all day every day. If you need advice, help, or an exit strategy we can help you. Feel free to email me with any deals at firstname.lastname@example.org.
Need a Deal?
WoodBaker is one of the premiere real estate buyers in the Houston area. We get 3-6 deals per month. If you would like to invest as a cash buyer or are looking for rent to own opportunities let us know. If you are on this list you’ll get the first opportunity to buy any deals we find. Email me at email@example.com.