The Woodlands Real Estate Slow Down

[KatieDidIt]

Our home has been on the market almost two months now. Tons of showing (35), everyone loves it, say its priced right and one of the prettiest they have seen. But no offers. Some have come close but there spouse's choices won out or they had to have a pool right now already installed. Several average looking homes in our subdivison have sold for more, but they have enormous pools and no trees.

The past two weeks there have been no showings. We had an open house and 25 groups showed up......but its been quiet since.

Is it the time of year when things get quiet up here? We have dumped the price just to stir interest..the neighbors aren't happy but then they never are. After fees and closing we might come out even or a little below. Still nothing.

Biggest problem: We opted for landscaping with mature tree and installed gardens, and everyone wants a pool and doesn't want to build one. They would rather have a concrete yard than trees. We have priced the house so low that you could easily afford putting a pool in the large yard and still be paying less than those listed with a pool. Still, they don't want to be bothered by the pool building process.

We considered building a pool just for resale, but then decided we wouldn't build "the right pool." I always thought you bought a home for the HOUSE and the pool was secondary. <shrug>

[TheNiche]

Is it the time of year when things get quiet up here? We have dumped the price just to stir interest..the neighbors aren't happy but then they never are. After fees and closing we might come out even or a little below. Still nothing.

I haven't looked at the market data for your area, but summer tends to be the season for moving because kids have finished off the school year and a lot of teachers' contracts come up for renewal. So there should be a fair number of homes on the market...but at the same time, there should be a pretty balanced number of buyers out there.

Did Anadarko wind up laying off a bunch of their employees just recently, as was announced a while back? If so, this would be the time during which those affected folks started moving out. That might have caused a slight supply glut.

...its all just speculation on my part, though.

Biggest problem: We opted for landscaping with mature tree and installed gardens, and everyone wants a pool and doesn't want to build one. They would rather have a concrete yard than trees. We have priced the house so low that you could easily afford putting a pool in the large yard and still be paying less than those listed with a pool. Still, they don't want to be bothered by the pool building process.

We considered building a pool just for resale, but then decided we wouldn't build "the right pool." I always thought you bought a home for the HOUSE and the pool was secondary. <shrug>

I personally agree with your philosophy on improvements, but most people just want convenience and the safety of being able to see what they're getting, as opposed to having to design something from scratch and possibly not have it turn out like they wanted.

[KatieDidIt]

There really aren't a lot of true customs on the market (That don't back to the Parkway) in our price range. I think I counted 8, but they are 60 grand more.

Tons of Village Builder/David Powers/Newmark on the market and I speculate that is who is getting our buyers. Its amazing that they are getting almost 3/4 of a million for that crap.

Why buy a house built by a low volume, custom builder with top of the line products and individual design on a 13,000 foot lot, when for the same price you can get one 1,000 sq. feet bigger, built in 180 days on a acre that looks like 15 others on your street?...........

I just have to be more patient I guess. We just have been so lucky with our sales in Houston. They sold within the first week for asking price.

The turnkey mentality is something distinctly suburban. I can't imagine not wanting make something about a house distinctly mine.

The home we bought in Memorial has a pool but it didn't affect the price one way or the other. Is more of a liability in my eyes, but I like the HOUSE so I just shrugged off the pool.

[musicman]

don't build a pool. it is more of a liability IMO. someone will come along and buy it. post some pics katie.

[KatieDidIt]

don't build a pool. it is more of a liability IMO. someone will come along and buy it. post some pics katie.

There are so many photos of it on the net I feel kinda funny posting them when they can be linked with and address and therefore me. I'm a chick that likes her privacy. If and when it sells I'll put some up. Its a beautiful house built by George Weaver, but very far away from Houston.

[TexasArchitect]

that's weird. u say other older homes in the same area selling for more??

where is ur house located. maybe it's next to something that isn't appealing? is it in a dead end street? hmmm, just sounds odd.

hopefully u'll find a buyer, good luck on the sale

[KatieDidIt]

that's weird. u say other older homes in the same area selling for more??

where is ur house located. maybe it's next to something that isn't appealing? is it in a dead end street? hmmm, just sounds odd.

hopefully u'll find a buyer, good luck on the sale

No all the homes are the same age. One with pools are selling for more, despite what the house looks like.

[TexasArchitect]

No all the homes are the same age. One with pools are selling for more, despite what the house looks like.

ohhhh gotcha. hmmmm, lets see what to do..what to do... got it! just throw a kiddie pool back there..technically it's a pool..rriiiiight?? lol

i say give it a couple more months i think u should find a buyer by august. woodlands imo is just getting better and better

[native5th]

No all the homes are the same age. One with pools are selling for more, despite what the house looks like.

Hi KatieDidIt-

We are looking for a house in the Woodlands in the next(I hope) month or two.. I am glad you are private..we are, too. our realtor is Kayelyn Wright with Coldwell banker. I will tell her you have a house for sale, and that you might be contacting her. Give her the information on your house, and she can forward it to us. Thanks, and best of luck to you..

[KatieDidIt]

Hey Native.

I might have my agent call your agent. But before I do, I just want to let you know that is a true custom home back in Sterling Ridge near the Gary Player course. Is this an area and a price range you are interested in?

The house is a very classic home completed in 2004, with more traditional design. It doesn't have a "dated" look to it which is not often found in the Woodlands. ie, It has the feel of new construction in Briargrove and Tanglewood. Everything is centered on the interior and the exterior is timeless, all brick with French Flare. Its not the biggest home in the neighborhood (right at 4000sf), but has an additional 600 sf of storage off the game room which is framed, plumbing stubbed and ready for build out.

This little subdivision is very popular, but the lack of a pool makes our home a good deal to purchase if you don't want one or currently can't afford those that have one just yet. But you won't find the amount of trees or size we planted anywhere back here with the newer construction. In additon to the 7 mature trees we left, we plugged in 15 hardwoods along the back fence line. Two of the newer trees are already at 25 feet and the rest easily over 15. Not to mention all the other landscaping and drainage we added to the yard.

Let me know and I'll contact your agent. Super busy in town today with the new house so it may be tomorrow of Saturday before I get to it.

[TexasArchitect]

that sounds like a nice home katie. do u mind me asking y u r leaving and where u are moving too?

no specifics just general area, and are u leaving cuz u dont like the woodlands??

[KatieDidIt]

that sounds like a nice home katie. do u mind me asking y u r leaving and where u are moving too?

no specifics just general area, and are u leaving cuz u dont like the woodlands??

My husband's commute has gone from 45 minutes each way to a minimum of 1 1/2 hours each way. Some days he has sat for over 2 hours. Life is too short for that and the Woodlands isn't worth that type of commute.

And yeah, I miss the city, Texans and good service of all types.

[native5th]

My husband's commute has gone from 45 minutes each way to a minimum of 1 1/2 hours each way. Some days he has sat for over 2 hours. Life is too short for that and the Woodlands isn't worth that type of commute.

And yeah, I miss the city, Texans and good service of all types.

Thanks, Katie..but we're looking for something a little closer in to the Woodlands than Sterling Ridge, so the commute will not be bad. But my realtor might know someone else...

[pineda]

I attended a "Street of Dreams" in The Woodlands a few years ago with some of my girlfriends. Every person that goes gets to keep a scoreboard to mark their favorite interior designer, builder, landscaper, etc. George Weaver won hands down, by an overwhelming margin. His company builds GORGEOUS homes!

[KatieDidIt]

I attended a "Street of Dreams" in The Woodlands a few years ago with some of my girlfriends. Every person that goes gets to keep a scoreboard to mark their favorite interior designer, builder, landscaper, etc. George Weaver won hands down, by an overwhelming margin. His company builds GORGEOUS homes!

Pine I can't rave enough about Weaver. His homes are incredible and he comes back and works on ANYTHING years later. When we can afford to build in town, we are rebuilding this house with them. Its really incredible and they are such a great family to work with. My neighbors have horror stories about their builders, and Weaver has even helped them out just to build product loyalty.

He's totally booked until 2009. Fortunately I don't think we'll be able to build with him in Houston, with land prices as they are, until 2015.

I hate leaving this house, but its really never been a home due to the location.

Native, good luck in your hunt. The Woodlands is vast............

PS- We had three showings today. Word must have gotten out that this is a great buy. thank goodness!

[bachanon]

good luck with your home sale katiedidit. i wish the best for your family.

[KatieDidIt]

good luck with your home sale katiedidit. i wish the best for your family.

And still in a huge showing slump and we are considering another huge price cut. I don't think we can afford to support two houses for very long and sadly the Memorial one we could sell quickly and even turn a slight profit. None of us wants to stay here, but finances are finances. We are hoping it moves within the next month or we are faced with a terrible choice.

[KinkaidAlum]

And still in a huge showing slump and we are considering another huge price cut. I don't think we can afford to support two houses for very long and sadly the Memorial one we could sell quickly and even turn a slight profit. None of us wants to stay here, but finances are finances. We are hoping it moves within the next month or we are faced with a terrible choice.

That sucks, Katie. Sorry to read that bit of news. I am fairly certain I saw your home on HAR and it is easily the NICEST one in that price range in The Woodlands.

I have friends (a gay couple no less) that bought out in Pearland 3 years ago. They are bored out there and desperately want back into the city. Their house has been on the market for a year. The problem is that nobody wants to buy a 5 year old home when there are new homes being built right down the road for the same price. That's a real risk in buying out of the city.

I hope you can sell your home!

[KatieDidIt]

That sucks, Katie. Sorry to read that bit of news. I am fairly certain I saw your home on HAR and it is easily the NICEST one in that price range in The Woodlands.

I have friends (a gay couple no less) that bought out in Pearland 3 years ago. They are bored out there and desperately want back into the city. Their house has been on the market for a year. The problem is that nobody wants to buy a 5 year old home when there are new homes being built right down the road for the same price. That's a real risk in buying out of the city.

I hope you can sell your home!

Thanks Kinkaid. Your sentiments are appreciated very much today. Once again our house was a couples favorite, but they just didn't want to go through the hassel of building a pool. You NEED a pool RIGHT NOW NOW NOW, you know. So they went ahead and bought a house that was two years older and was their second choice for 60,000 more just because it had a pool.

[RedScare]

Wow. $60K would have built a lot of pool. Chin up, Katie. It'll happen.

[KatieDidIt]

.

[KatieDidIt]

Thanks Red. 60k buys close to the Woodlands Disney Land they all want, but are unwilling to design themselves. It amazes me that we are getting killed by the pool factor. In Houston it means NOTHING. The Landscaping is incredible, but I guess that was all a selfish pleasure in the eyes of the Woodlands.........

Also I think its crazy that it doesn't matter if one home is nicer than another. If its in the same little suburb it HAS TO be priced no more or no less than another home per sq. foot. Without a pool, less 60k or even more. My brain can't wrap around this.

I'm keeping all digits crossed in hopes that there is someone out there that knows quality and a deal when they see it. Frankly I can't live here another second after this last straw of crazy GimmeGimmeNow Woodlands mentality the house selling is revealing.Shows you where the kids get it from.

[KatieDidIt]

The moving trucks come today to take the stuff down to our partially remodeled house. We'll be living in 2 rooms for the next few weeks and dodging boxes.

We finally got a contract on the house and we are keeping our fingers crossed that it goes through. They are financing about 87% of the cost of the house and doing some manuvering to get their cash portion. Seems really weak to me but we just hope they pull it off. Our realtor told us that amount of financing is not uncommon in the Woodlands, but it looks scary to me!!