5 real estate trends to know in Spring, Klein in 2019



1. Nearly two years post-Hurricane Harvey, demand for flooded homes is strong


View full story here.





2. Harvey-damaged homes see up to 21%                 increase in appraised values in 2019


Following a reduction in appraised value for Hurricane Harvey-related damages in 2018, Harris County homes that flooded during the August 2017 storm may have seen up to a 21% increase in appraised value in 2019.


The Harris County Appraisal District reduced the appraised value for 40,852 homes in Harris County in January 2018. Of those, 27,980 homes had a homestead exemption, which is needed to qualify for the 10% appraisal increase cap, according to HCAD Chief Communications Officer Jack Barnett. The cap prevents the appraised value of a home from increasing more than 10% per year. Of the houses with homestead exemptions, 9,509 homes had completed repairs by Jan. 1, Barnett said.


Homes that received a lower appraisal in 2018 due to Harvey-related damage could now have been appraised based on their 2017 appraised value plus their 2019 appraised value.


Because appraisal values are determined on a case-by-case basis, values for those homes could have increased in 2019 by up to 21%, been lowered or remained the same, he said.


Flooded homes in Spring and Klein saw a decrease in their appraised values last year to account for Harvey-related damages, said Brenda Budd, residential field manager at Harris County Appraisal District.


“[After Harvey, we] ... found all these damages. ... [Say there was] $170,000 worth of repairs to do. Whatever that house value was for the improvement, we took off $170,000,” Budd said. “From there, we’re looking into appraised value—what the appraised value was ... the year before the storm.”


For example, a house that flooded in Wimbledon Champions had an appraised value of $254,976 from 2015-17 before dropping to $141,813 after Harvey, according to HCAD. The 2019 appraisal value for the house is now $263,944.


In mid-March, single-family home appraisal values were up an average of 9.63% across Harris County compared to last year, according to HCAD market trend data.







3. Demand for more affordable housing strong in Spring, Klein, real estate experts say


Homebuyers in Spring and Klein are targeting homes priced between $150,000-$250,000, while the demand for luxury homes has yet to return to oil-boom levels, according to local real estate agents.


“You have more people in that price point in terms of economics … and fewer people are able to afford [luxury homes], so there are fewer [luxury homes on market] and they stay on the market longer,” said Ginger Perry, a real estate agent at Texas Properties & Associates in Houston.


Homes less than $150,000 sell even faster, although they are usually homes that flooded, said Yvonne Chauvin, a real estate agent with Better Homes and Gardens Real Estate Gary Greene in Cypress.


“Anything below $150,000, those take no time to sell, but these are usually homes that have been flipped or distressed,” Chauvin said.







4. Breckenridge Forest, Silverglen North among Spring ISD’s fastest growing subdivisions


Spring ISD has seen about 600 new home sales on average per year for the last three years, according to a fall 2018 demographic report by Templeton Demographics. More than 400 new homes are forecasted to sell within SISD boundaries by fall 2019.







5. Oversupply of new homes tops demand in Klein ISD


Since mid-2017, the number of new homes available within Klein ISD boundaries has increased beyond the demand, according to a fall 2018 report by the Population and Survey Analysts demographics firm.


As of June 2018, KISD had an 8.5-month supply of new housing stock—meaning that the number of new homes available or under construction would likely be occupied in 8.5 months—according to PASA. Four to eight months is considered a balanced market.




By Eva Vigh
Eva Vigh joined Community Impact Newspaper in 2018 as a reporter for Spring and Klein. Prior to this position, she covered upstream oil and gas news for a drilling contractors' association.


MOST RECENT

Free COVID-19 testing will be available to festival staff, participants and patrons every weekend of the festival this fall. (Courtesy Steven David Photography)
Texas Renaissance Festival to offer free COVID-19 rapid testing throughout season

Additionally, a free drive-thru testing site will be set up in Todd Mission on Sept. 19.

According to a Texas Supreme Court order, all eviction notices in the state must be accompanied with the CDC eviction order's declaration form. (Courtesy Pexel)
Texas Supreme Court issues order strengthening CDC eviction moratorium

The action aims to strengthen a federal order that renters' advocates say has been falling short in eviction court.

Both locations specialize in men's haircuts, shaves and waxing, and they also offer complimentary alcoholic drinks. (Courtesy Tune Up: The Manly Salon)
New owners take over Tune Up: The Manly Salon locations in Champions, Northpointe

Rachael and Michael Worthen and Jackie and Scott Qaulley took ownership of two Tune Up: The Manly Salon franchise locations in the North Houston area effective Aug. 10.

A section of Cypress Creek experiences flooding during Hurricane Harvey in 2017. (Vanessa Holt/Community Impact Newspaper)
Flood control officials to update residents on Cypress Creek stormwater detention basins at virtual meeting

Harris County Flood Control District officials will host a virtual information session Sept. 22 from 6:30-7:30 p.m. to update residents on two upcoming flood control projects along Cypress Creek.

The first food distribution event at the new location will take place Sept. 22 from 9 a.m.-1 p.m. or until supplies last. Food giveaways will take place twice per month thereafter. (Courtesy Northwest Assistance Ministries)
Northwest Assistance Ministries relocates semimonthly food distribution site near IAH

By relocating the site to Ecopark-IAH, the nonprofit will be able to supply 3,000 families with 70 pounds of food in one day.

While the number of white students enrolled at Spring, Klein and Cy-Fair ISDs has decreased over the past 15 years, white teachers remain the majority of teachers at KISD and CFISD. At the same time, the number of economically disadvantaged students has also increased across all three districts over the past 15 years. (Graphics by Ronald Winters/Community Impact Newspaper)
Local school districts target equity to better serve diversifying student populations in Spring, Klein

The Spring and Klein area has seen a notable demographic shift over the past two decades, data shows, and Spring, Klein and Cy-Fair ISDs are evolving to better serve their now majority-minority student populations, officials said.

Dr. Sam Rolon is a physician for Baylor St. Luke's Medical Group Creekside Family Medicine in The Woodlands. (Courtesy St. Luke's Health)
Q&A: St. Luke's physician shares advice on flu season, vaccine and prevention

The influenza vaccine is recommended for nearly all patients of all ages ahead of this year's flu season, Dr. Sam Rolon said.

student in mask
TEA launches statewide COVID-19 dashboard for public schools

The Texas Education Agency, in collaboration with the Texas Department of State Health Services, has launched its latest COVID-19 dashboard for positive cases in Texas public schools.

The Houston Food Bank is looking for more volunteers as it handles increased food distribution during COVID-19. (Courtesy Houston Food Bank)
Houston Food Bank: COVID-19 pandemic amplifies already-high food insecurity rates across region

Before COVID-19, the Houston Food Bank distributed about 400,000 pounds of food daily. That number has since increased to about 1 million pounds a day.

Gov. Greg Abbott said Sept. 17 that data from Texas' 22 hospital regions will dictate when certain businesses can reopen at 75% capacity. (Screenshot of Sept. 17 press conference)
Texas Gov. Greg Abbott: Retail stores, restaurants, office buildings, gyms can reopen at 75% capacity as early as Sept. 21

Nursing home and long-term care facilities will also be allowed to reopen for visitation as early as Sept. 24.

Klein ISD has debuted its COVID-19 tracking dashboard to allow community members to stay updated on cases across the district. (Courtesy Adobe Stock)
Klein ISD introduces COVID-19 tracking dashboard

The dashboard displays only KISD data and will be updated daily at noon.

Vehicles drive alongside the Tomball Tollway in Harris County. (Anna Lotz/Community Impact Newspaper)
Newly formed corporation could divert Harris County toll road revenue to non-mobility projects

A new limited government corporation formed by Harris County Sept. 15 could result in surplus revenue from the Harris County Toll Road Authority going to other county needs outside of the realm of transportation and mobility.