Twice a year we publish the printed edition of the River Oaks Market Report – the 2024 Outlook edition is in the mail for regular subscribers (others can order their copy here). A favorite of many regular readers are the demographics for real estate sales in River Oaks. Age of buyers and sellers, and occupation of buyers and sellers typically get the most attention and here’s a preview, below. Other demographics we cover are where buyers come from, where sellers go, how the transactions are paid for, the geographic areas of the neighborhood involved in sales, the distribution of sales by price ..read more

David Bush has been executive director of Preservation Houston since 2015. Founded in 1978, Preservation Houston is the only citywide, public service, historic preservation organization in Houston.* It is best known for a its lush architectural books, walking tours of historic neighborhoods and the annual Good Brick Awards program that honors Houstonians who restore and/or repurpose the city’s historic buildings. We caught up with David recently to ask a few nosy questions. What was your earliest ambition?  When I was kid in New Orleans, there was a historic building on one of the corner ..read more

Have you noticed an all-too-familiar property popping up on the real estate websites as a “New Listing”? Sometimes the main photo has been switched, so you’re curious if this is truly the same old, tired house, or maybe something fresh on the market. It says 1 day on the market. Hmmm, you think, let’s call our realtor and book a viewing. Disappointment soon sets in when you scroll through the photos. It is the same old doghouse. You may ask yourself – and quite rightly – why do they do this? The facile strategy on the part of the seller and seller’s agent is to try to fool the market by changi ..read more

Question: We’re looking at ads for mortgage rates. So high! What, exactly, are the “points” that some mortgage companies offer? Answer: Points, also called discount points, are a way for the borrower to prepay some of the interest on a loan right away. Mortgage points are essentially a form of prepaid interest you can choose to pay up front in exchange for a lower interest rate and lower monthly payments. This is often called “buying down” your interest rate. A point is equal to 1% of the mortgage loan. If you pay that at the time that you close on your house, it will knock a little off your ..read more

This month’s River Oaks market update is a follow-through on last month’s critical look at the high end of the speculative new construction market. When we describe inventory levels in River Oaks, we typically provide our readers with a chart like the following: And it’s usually accompanied by laments on our part: not enough inventory in the lower and middle sections of the market (“Come on folks – if you’re thinking of selling this is a truly great time to do so.”) and way too much flabbiness at the high end. Perhaps the graph above is too gentle on the eye, so we thought we’d ratchet things ..read more

What did you do over your summer vacation? Cameron and I traveled widely, from Hawaii to Cape Cod. But one of the most rewarding outings was a road trip to Arkansas topped off by a visit at the Crystal Bridges Museum of American Art in Bentonville. It’s a long day’s drive from Houston to that northeast corner of Arkansas but backroads will take you through some beautiful country in Eastern Oklahoma and Arkansas. Panoramic view of Crystal Bridges Museum of American Art Even if you’ve not visited, you’re probably aware of this newish museum that opened in 2011. It’s a pet project by Walmart heir ..read more

Let’s begin with a pop quiz. How many spec new construction houses have sold in River Oaks priced above $10 million, ever? Zero 1 10 15 Answer:  Zero How many spec new construction houses are actively on the market or in the pipeline in River Oaks priced above $10 million? 2 4 6 8 Answer:  8 But the good news is that one of them is in contract and set to close after Labor Day. For those of you who can’t quite reach that $10 million-plus market, you’ll be glad to know that there are yet another eight offerings lining up in the $7 million to $9 million range. We mention the act ..read more

Question: Do I need flood insurance even if my house is not in a flood plain? Answer: Our answer is a hard yes. But for a little more nuance, we put your question to Leash Yu, president of Agency Yu, Inc., an insurance agency in West U. Here’s what he wants you to know: On October 1, 2021, FEMA revamped their 1970s-era rating system for the National Flood Insurance Program (NFIP). This new system was billed as “revolutionary, simpler and more fair” for the nation. As we approach the second anniversary of this new rating system called Risk Rating 2.0, Houstonians are starting to reali ..read more

Much of the activity in the low-end “under $2 million” category so far this year has been for lot sales. It’s not so much that speculative builders are buying up all those cute old houses in need of TLC. Rather, private individuals are buying lots for custom home construction. But be warned that, after a one-year hiatus, the spec builders are coming back, having acclimatized themselves to higher interest rates and with 12 months to forget the burned fingers of early 2022. Almost all the houses that sold that were not demolished needed an awful lot of work. It is heartening to see that people ..read more

Is there anything more deliciously satisfying than a casual neighborhood trattoria and wine bar where the owner is also the chef, and she’s always – always! – on the premises? Lynette Hawkins opened Giacomo’s Cibo e Vino in 2009, and since then she has cooked her way into our hearts with favorites such as tagliatelle alla Bolognese, spaghetti alla carbonara, gamberi al diavolo and polpette Puccini. The restaurant is appealing inside, with tables and wall color blocks the hue of Italian scooters, and there are two dog-friendly patios. Wine lovers enjoy her well curated list featuring smaller pr ..read more