About Cypress' Coles Crossing

Some sellers hesitate to put their home on the market during the last quarter of the year, because they don't believe that buyers are out looking during this period. Nothing could be further from the truth!!

In fact, the past two nights I have seen buyers driving around Coles Crossing looking at homes!! The home across the street from me is for sale. The owner is also a real estate agent!! I was bold enough to wave down the driver who grabbed a flyer, and we had a nice chat. The prospective buyers have friends living here in Coles Crossing and are hoping to relocate here from the Heights area. I asked when he and his wife wished to close by, and he said definitely before January!! So, there you go! We have SERIOUS buyers looking around...and not as many homes on the market right now!! Sounds like a recipe for successful selling!

FACT: TWENTY-THREE HOMES sold in Coles Crossing during the last quarter ending 2008! If you would like to get in on the action, give me a call at 281.213.6200 OR 713.303.9463

Eighty nine homes have SOLD this year in Coles Crossing, with eight of those closing in the month of August! The price per square foot ranged from a LOW $68.51 to a HIGH of $101.49. This is a RECORD HIGH FOR A HOME IN COLES CROSSING WITH NO POOL!! The lowest price/sq. ft. home was VA financed, while the highest price/sq. ft. home was a conventional loan. There was one other conventional sale. Two home sales went to cash buyers (which I always like to see) with the remaining three choosing FHA financing. Why do I like to see cash buyers?? In most cases, it means a quicker closing for my sellers AND it brings some stability to the neighborhood (ie no chance of that home going into foreclosure)! If you have been thinking of placing your home on the market, give me a call or drop me an email. I would love to show you how I can get your home SOLD BY SONJA for top dollar!! 713.303.9463

There were 38 homes SOLD in Coles Crossing for the month of July. Price per square foot ranged anywhere from $73.14 for a two story Trendmaker built in 1999 all the way up to $99.15 per square foot for a Gorgeous two story Perry Home with Pool and Spa.

These homes were on the market an average of 72 days. Most of these homes had at least one price reduction from the original list price showing the necessity of PRICING RIGHT THE FIRST TIME TO BRING AN OFFER MORE QUICKLY!!

JANUARY REAL ESTATE NEWS

Though the national real estate market has taken a beating this past year, the Houston area has fared well for the most part. There are some subdivisions that have a high foreclosure rate which is a death blow to the homeowner who absolutely MUST sell. On the other hand, these subdivisions are a goldmine for the investor who wants to buy a property for rental income. NOW is a great time to invest in lower income, recent construction housing. One of my clients purchased such a home just before Thanksgiving and has already leased it out. This particular client is so pleased with his first property, he has opted to purchase two more! With the financial climate being what it is, he sees the value in owning real estate!

Onto my featured subdivision of the quarter-Coles Crossing! I have been watching the market in Coles Crossing on a weekly basis. There have been quite a few homes for sale. Some that did not sell quickly enough for the owner ended up being leased out. My focus in this analysis is on home sales for the last 6 months.

Sixty-nine homes SOLD in Coles Crossing from July 1, 2008 until January 13, 2009. Nineteen of those homes were located in the cottage sections of Coles Crossing. The average price per square foot was $84.96 without a pool, and slightly more $86.59 with a pool (only one home). I did not include 2 homes in the data, because they were unusually low. (One was a foreclosure that backed to Telge which sold for $67.82/sq. ft.; the other simply backed to Telge and sold for $65.88/square ft.)

Of the remaining homes in Coles Crossing's non-gated sections, thirty-four homes without a pool SOLD for an average price/sq. ft. of $83.95. Fourteen homes in the non-gated area did have a pool and SOLD at an average price/sq. ft. of $93.49. If you are thinking of putting in a pool this summer, you might want to factor in the value it will add to your home vs. the cost incurred. In other words, less (fewer bells and whistles for your pool) is more when it comes time to sell your property.

Finally, in the gated section there was one home sale. The price/sq. ft for this home was $110.16.

There are many factors that determine the strength of a subdivision. Are the homes well-maintained? Is the crime rate low? How are the schools rated? One factor that is a little harder to measure-neighborliness. Are the people friendly?? Well, Coles Crossing passed our litmus test with flying colors. The true test of friendliness is--

"How many people will stop to buy lemonade from kids on a weekday?" I am happy to report lemonade sales are UP in Coles Crossing during the last six months. Aren't they the cutest??

If you have any questions regarding YOUR neighborhood sales prices/home values, I would be more than happy to answer them! If you are thinking of moving or know someone who is, I would love to become your/their favorite realtor!!

Best wishes for a Happy 2009!

Sonja Patterson

There are MANY great subdivisions in the Northwest Houston area, but our family chose to move to Coles Crossing for three basic reasons.

Number one was LOCATION, LOCATION, LOCATION. We wanted to live in the suburbs, but not so far out that it made the day-to-day commute into town unbearable. With its close proximity to highways 290 and 249, Coles Crossing met our goal.

Number two was the EXCELLENT schools. There are several excellent schools nearby, but having the elementary school in the center of the subdivision was and is definitely a plus. It is fun to have the option to bike safely to school and back. You would be amazed at the number of parents who volunteer in the schools!! This parental involvement definitely assists in maintaining the schools' exemplary ratings!!

Number three was the AMMENITIES. Coles Crossing boasts two beautiful pools, tennis courts, and a work-out facility. Few subdivisions have all THREE, and no subdivision I know of has all three for only eight hundred dollars per year. In addition, there are numerous walking and jogging trails throughout, catch-and-release fishing ponds, and a community center for neighborhood events.

So, if you are looking for a great place to live away from the hustle and bustle of the city, I urge you to take a look at Coles Crossing on www.har.com !!