UpperWestEnder Posted August 15, 2009 Share Posted August 15, 2009 Parra Design hasn't broken ground since they built six townhouses in 2008 on Maxie between Fowler and Patterson just north of Washington Avenue. Four of those homes still haven't sold, but when I saw what looked like preparation for new construction at 4515 Eigel I was curious to see what they would be putting up. I am surprised given the state of the real estate market that they are putting up homes prices at $344,900. This is at least $60K more than what they built homes for before in this neighborhood. MLS #43614876 Do you think the Upper West End with narrow blacktop alleys and open drainage ditches can support this kind of pricing? But then Urban Living is marketing a six home development right across the street from the new Parra homes priced in the $400s. This is just crazy. I'm so glad I got in for under $200K three years ago when I did. Link to comment Share on other sites More sharing options...
sowanome Posted August 15, 2009 Share Posted August 15, 2009 This is really interesting and you're definitely correct about the pricing issue. It's weird to see that there are now places in that area going for above the $315k mark, but I guess that's what happens when density increases. I remember in 2006 the majority of the homes in that area were well below $280k and at that time if you spent more than $315k you were getting new construction with all of the upgrades. Eventually (maybe another 1.5-2 yrs.) many of those clubs/bars will convert into some type of retail/dining and the density will increase even more. I'm sure the builders/developers can see that happening and are setting prices accordingly. Link to comment Share on other sites More sharing options...
Scott08 Posted August 17, 2009 Share Posted August 17, 2009 I see things just the opposite I guess. I looked at some Para Design townhomes a few years back when they started under $200K and topped out around $225K. Back then, they sold before they were finished. And now they've got unsold houses at $260K and they want to build more for almost a hundred thousand more? I'm not understanding that. Although that area may be less hard hit than some others around town, I still see plenty of stopped construction, resales, and some foreclosures. I think that the arrogance of builders sometimes trumps common sense, seems like they could sell them a lot faster keeping them in the 2's and I just can't believe the land prices have escalated when they've been depressed or static almost everywhere else. Link to comment Share on other sites More sharing options...
plumber2 Posted August 17, 2009 Share Posted August 17, 2009 Parra Design hasn't broken ground since they built six townhouses in 2008 on Maxie between Fowler and Patterson just north of Washington Avenue. Four of those homes still haven't sold, but when I saw what looked like preparation for new construction at 4515 Eigel I was curious to see what they would be putting up. I am surprised given the state of the real estate market that they are putting up homes prices at $344,900. This is at least $60K more than what they built homes for before in this neighborhood. MLS #43614876 Do you think the Upper West End with narrow blacktop alleys and open drainage ditches can support this kind of pricing? But then Urban Living is marketing a six home development right across the street from the new Parra homes priced in the $400s. This is just crazy. I'm so glad I got in for under $200K three years ago when I did. Having grown up in Houston, I pretty much understand where the West End is located......anything north or south of Washington Ave. out to about Cottage Grove, but where is the Uppper West End? North of Allen St.? Link to comment Share on other sites More sharing options...
UpperWestEnder Posted August 17, 2009 Author Share Posted August 17, 2009 Having grown up in Houston, I pretty much understand where the West End is located......anything north or south of Washington Ave. out to about Cottage Grove, but where is the Uppper West End? North of Allen St.?Yes, north of Allen street, west of Yale and east of Shepherd. Just a small park, a couple hundred townhouses, a few abandoned buildings and a few score original bungalows. Link to comment Share on other sites More sharing options...
UpperWestEnder Posted August 17, 2009 Author Share Posted August 17, 2009 I see things just the opposite I guess. I looked at some Para Design townhomes a few years back when they started under $200K and topped out around $225K. Back then, they sold before they were finished. And now they've got unsold houses at $260K and they want to build more for almost a hundred thousand more? I'm not understanding that. Although that area may be less hard hit than some others around town, I still see plenty of stopped construction, resales, and some foreclosures. I think that the arrogance of builders sometimes trumps common sense, seems like they could sell them a lot faster keeping them in the 2's and I just can't believe the land prices have escalated when they've been depressed or static almost everywhere else.He's probably mirroring the Urban Living marketed development across the street. Those homes are going for $100K more than the three Parra homes. But I still agree with you. His $299,000 LEED certified homes haven't sold ten months after being on market even after the list price was reduced $15K. If he had announced he was putting up three 2 bedroom homes for (let's say) $220K they'd all sell before they were finished. There are a lot of people struggling to find a TH for under $290K ITL and with the coming of the Quiet Zone next year and development on Washington, it would make it very appealing. I don't think the Urban Living homes will sell easily either.You can go on Dorothy near Shepherd and 17th and get larger detached homes with a small yard (but no rooftop terrace) for $20K less. Link to comment Share on other sites More sharing options...
longhornguy Posted August 18, 2009 Share Posted August 18, 2009 He's probably mirroring the Urban Living marketed development across the street. Those homes are going for $100K more than the three Parra homes. But I still agree with you. His $299,000 LEED certified homes haven't sold ten months after being on market even after the list price was reduced $15K. If he had announced he was putting up three 2 bedroom homes for (let's say) $220K they'd all sell before they were finished. There are a lot of people struggling to find a TH for under $290K ITL and with the coming of the Quiet Zone next year and development on Washington, it would make it very appealing. I don't think the Urban Living homes will sell easily either.You can go on Dorothy near Shepherd and 17th and get larger detached homes with a small yard (but no rooftop terrace) for $20K less.Speaking of Rooftop terraces, anybody notice the build-out of a rooftop terrace on one of the white townhomes by West End Park? I think I remember seeing the listing on HAR and the description mentioning extensive repairs needed to the roof. Looks like the purchasers decided to completely re-do the roof and add a rooftop deck while they were at it. It should give pretty darn good views of downtown though... Link to comment Share on other sites More sharing options...
UpperWestEnder Posted January 12, 2010 Author Share Posted January 12, 2010 Well, it took five months but Parra is breaking ground for the construction of three new expensive townhouses on Maxie. This just shows me how little I understand the Houston real estate market. I wouldn't have believed that anyone was willing or able to pony up $300K+ for a townhouse in the Upper West End with narrow streets and open drainage ditches. Parra wouldn't have broken ground without selling at least two of the units and in fact only one unit is still listed on har.com.I'm glad for the new construction, but surprised there homebuyers prepared to invest that much money in my neighborhood. Link to comment Share on other sites More sharing options...
smurf Posted January 25, 2010 Share Posted January 25, 2010 Well, it took five months but Parra is breaking ground for the construction of three new expensive townhouses on Maxie. This just shows me how little I understand the Houston real estate market. I wouldn't have believed that anyone was willing or able to pony up $300K+ for a townhouse in the Upper West End with narrow streets and open drainage ditches. Parra wouldn't have broken ground without selling at least two of the units and in fact only one unit is still listed on har.com.I'm glad for the new construction, but surprised there homebuyers prepared to invest that much money in my neighborhood.3 of the 4 detached street facing townhouses built Spring of 2009 on my street in Upper West End are occupied. I did not see a realtor sign up on the 4th. They were listed for 324K each. I looked at them when they were "almost" finished and they are done a lot better than many of the Parra "cheap" Designs. If the developers keep building street facing town houses rather than 4 or 6 townhome complexes, they sell a lot easier according to a realtor friend of mine. He also expects all of Washington area housing prices to jump at least 10-25K with the coming quiet zone. Link to comment Share on other sites More sharing options...
tanith27 Posted January 25, 2010 Share Posted January 25, 2010 I was looking in this area when I bought a few years ago. Ended up buying in the Woodland Heights because it was more quiet. Glad I did. While I do enjoy many of the offerings now found on Washington Avenue, I'm glad I dont have to deal with all the infrastructure issues popping up in the surrounding neighborhoods. At least I can still bike to many of the non-douche spots pretty easily. Link to comment Share on other sites More sharing options...
77007 Posted May 14, 2010 Share Posted May 14, 2010 The Parra Design new construction on Upper West End is nearly complete. Construction opposite to them (on the other side of Eigel street) has started (the framework is nearly 70% complete), will be interesting to see how this development (Eigel Villas by Cornerstone Homes) sells as they are listed at 420K to 450K. With all the developoment and focus on the Washington Ave, Rice Military, Heights area and the resources that are being put to expand the I10 feeder road, Quiet Zone, West End Park, increase the bike lane areas and develop retention ponds north of I10, would not be surprised if these sell close to their list price. Link to comment Share on other sites More sharing options...
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