Michael Levitin is set to preside over a dismal year in Houston Real Estate if For Sale signs keep popping up.
We assure you, its not his fault.
But the decline in sales continued for a sixth straight month in February according to the recent report released by the Houston Association of Realtors.
Sales are down but not as bad as they were last month.
Tuesday, March 25, 2008
Monday, March 17, 2008
At some of downtown Houston’s most desired addresses, high-rise condos sit empty
Parts of suburban Houston and other outlying communities have also witnessed rising foreclosure rates and falling home prices.
For example, a 24,000-square-foot mansion in The Woodlands appraised at more than $7 million recently sold for roughly a third of that price.
For buyers like Dennis Murland, a long-time real estate investor, new foreclosures bring new opportunities.
For example, a 24,000-square-foot mansion in The Woodlands appraised at more than $7 million recently sold for roughly a third of that price.
For buyers like Dennis Murland, a long-time real estate investor, new foreclosures bring new opportunities.
Monday, March 10, 2008
Westheimer's High Street 'is real'
Trademark Property Co. has locked in financing for High Street, the $105 million real estate development designed to include apartments, shops and offices in an urban, walkable setting east of the Galleria.
Investment management firm Coventry Real Estate Advisors of New York has joined the deal as an equity partner, and Kosene & Kosene Residential of Indianapolis is partnering as the residential developer.
"We're financed. We're under construction. It's real," said Terry Montesi, founding partner of Trademark Property, a Fort Worth-based developer.
This is the second high-density, mixed-use project to start construction in recent months.
Work has begun on Ed Wulfe's BLVD Place on Post Oak Boulevard and San Felipe, and the first phase is expected to open by the end of the year.
Other than Whole Foods Market and some existing retailers in the properties being demolished for the project, Wulfe hasn't announced any other tenants.
But he's betting that some luxury stores in the Galleria mall will consider a street-level location, as well — even if it's just down the street.
Investment management firm Coventry Real Estate Advisors of New York has joined the deal as an equity partner, and Kosene & Kosene Residential of Indianapolis is partnering as the residential developer.
"We're financed. We're under construction. It's real," said Terry Montesi, founding partner of Trademark Property, a Fort Worth-based developer.
This is the second high-density, mixed-use project to start construction in recent months.
Work has begun on Ed Wulfe's BLVD Place on Post Oak Boulevard and San Felipe, and the first phase is expected to open by the end of the year.
Other than Whole Foods Market and some existing retailers in the properties being demolished for the project, Wulfe hasn't announced any other tenants.
But he's betting that some luxury stores in the Galleria mall will consider a street-level location, as well — even if it's just down the street.
Monday, March 3, 2008
NAIOP honors Houston real estate professionals
Top real estate professionals were honored Tuesday night at the Houston Country Club by the Houston Chapter of the National Association of Industrial and Office Properties during the group's annual awards presentation.
Louis Cushman with Cushman & Wakefield of Texas Inc. was named Office Broker of the Year, while Billy Gold with CB Richard Ellis Inc. was named Industrial Broker of the Year. The brokers were selected for their leadership, community service, professionalism and production during the last year.
Louis Cushman with Cushman & Wakefield of Texas Inc. was named Office Broker of the Year, while Billy Gold with CB Richard Ellis Inc. was named Industrial Broker of the Year. The brokers were selected for their leadership, community service, professionalism and production during the last year.
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