23 May 2023

Venetian Estates News April 2023

Real Estate and More…

Venetian Estates Market Update

Four properties, ranging in price from $925k to $1.695 million, are currently listed for sale on HAR in Venetian Estates.

This month we sold the stunning home at 715 Salerno. We have facilitated several private sales this year. The market remains very strong, yet VE is particularly low in inventory. Please call us if you are considering selling, and we would love to help you structure a sale to meet your goals and timeline.

New Neighbors

We are delighted to introduce our new neighbors at 715 Salerno, Sarah and Brian Smith. Brian is from Chattanooga, TN, and Sarah is from New Waverly, TX. They met while undergrads in San Antonio at Trinity University and have been married for almost 23 years. They are moving from Sienna, where they have lived for 18 years. They own Sienna Plantation Animal Hospital, where Brian serves as the lead veterinarian and medical director. Sarah is a play therapist and has practiced on-and-off over the years while intermittently staying home with their four children. Abigail and Juliet (7th grade), Ian (5th grade), and Violet (1st grade) have attended Fort Bend Christian Academy for the past school year, and the whole family has fallen in love with the school and the VE community! With some good friends in place in VE and many more they can’t wait to meet, the Smiths plan to complete a few projects on the house and to move in by early May. The whole family is talking about what a fun summer this will be!

Nike, Nike!

Last summer, Corey and I traveled through Greece with our boys. In Athens, we learned of the story of Pheidippides, who was employed as a day runner by the Athenian military during the Greco-Persian War in 490 B.C. The Persians far outnumbered the Greeks and were closing in on Athens when the Athenian army met them on the coast of Marathon. Pheidippides was tasked with running 240 km (~150 mi) to Sparta to request their help to defend against the Persians. Sparta said that they could not help right away because they were in the middle of a religious festival. Pheidippides began the return 240-km, two-day journey back to Marathon to relay the disappointing message. However, he returned only to discover that the Greeks had astonishingly already defeated the powerful Persians. He was promptly tasked to run another 42 km (26.2 mi) to Athens to announce the Greeks’ remarkable victory. Legend says that upon arriving in Athens, Pheidippides proclaimed, “Nike! Nike!” (Victory! Victory!) before collapsing to his death from exhaustion. (Though there are rumors that his last words were actually, “My feet are killing me!”)

Our neighbor Brooke Lubojasky can proclaim both “Victory!” and “My feet are killing me!” but with a much happier ending…on April 17th she competed in the 127th running of the Boston Marathon, finishing with a time of 3:38:40. Neighbors may know our resident dedicated-athlete Brooke, who can be seen running in the early morning, late at night, in the rain, with a child, with a dog… Brooke and her husband, Heath, live at 610 Salerno with their three children, Ellis (7), Cole (5), and Collins (3). Brooke returned to running in 2020 during the COVID lockdown and qualified for the 2023 Boston Marathon after her completion of the Chevron Houston Marathon in 2022. Boston was Brooke’s fourth marathon. Her goal is to complete all Abbott World Marathon Majors. She has completed Chicago and Boston and has Berlin, London, Tokyo and New York left. We’re all cheering for you, Brooke!

Market Update

Speaking of running, I have run out of room for a detailed market update. Mortgage rates have eased a bit from their November peak, new listings and inventory are down, sales volume is up, and pricing has increased or declined depending on property type and location. If you would like to discuss personal real estate or simply general market conditions, call me!

24 November 2022

Venetian Estates News November 2022

Real Estate and More…

Venetian Estates Market Update

Five properties, ranging in price from $1.1 to $1.995 million, are currently listed for sale on HAR in Venetian Estates. FBRE’s new listing at 106 Sorrento is stunning inside and out! With a gorgeous primary suite, expansive living room, and a gameroom and guest room on the first floor, this house has the perfect floor plan! To boot, the outdoor living areas and resort pool are incredible. At $1,995,000, this property is priced well below replacement value. If you’re considering building on your lot or moving to a newer home, you must see this house!

FBRE listed and promptly sold 310 Lombardy Drive this fall. We listed another property in October and it, too, promptly went under contract. It will close in February to accommodate the sellers’ preferred timeline.

New Neighbors

Susan and Fred Terrell purchased 906 San Marino earlier this year. After 33 years in the oil and gas industry, Fred retired, and he and Susan moved to the Point Clear/Fairhope, AL area. They later moved to Lake Olympia in Missouri City before moving to VE to be nearer to their daughter, Monica, her husband Colin, and their three children. Susan and Fred have found VE to be a beautiful community with friendly neighbors, and they are loving being in walking distance to Monica’s family (who is in the process of remodeling 403 Lombardy) and being able to participate in their grandchildren’s activities.

Our newest neighbors, The Taylors, moved to 610 Piedmont in July. Vonna grew up in Sugar Creek, attending Dulles. Nick is from Sunray, TX but spent summers in Sugar Land and has been a resident for the past twenty years. They have owned houses in almost every “Sugar” neighborhood in Sugar Land and are happy to have finally settled in VE. They have been married for almost 15 years and have two boys, Rivers (9) and Rainn (7), who attend Cornerstone Christian Academy and are active in sports, including baseball, flag football, basketball, soccer, karate, and swim team. The Taylors own Integrity Insurance Services, Inc. (Allstate Insurance) with locations in Webster and Lake Jackson. When they are not working, volunteering, or coaching, they are leading the Better Together connect group at Sugar Creek Baptist Church, where they are members. They already know multiple families in VE and are so incredibly blessed to be part of this amazing community. They love it here and look forward to making many memories with friends and neighbors!

B.B. Italia Bistro & Bar Now Open!

We know la dolce vita here in VE, but Sugar Land just got sweeter with the addition of our newest restaurant! By the time you read this, B.B. Italia will be open in Sugar Land Town Square. Restaurateur Benjamin Berg says he “wanted to bring something entirely new to the area where guests feel that they have been transported to New York City.” Classic Italian-American dishes are made from scratch daily. The French brasserie design “with an Italian twist” features a piano bar with live music from 6-10 PM Wednesdays through Saturdays. There is also a covered veranda for al fresco dining, a stone pizza oven, and a gelato bar. Berg Hospitality Group has created several of Houston’s very best restaurants, pairing outstanding food with a warm and festive atmosphere.

Market Update

NAR Chief Economist Lawrence Yun predicts “the new normal for interest rates could be around 7% for a while.” Pending home sales, touring activity, and online searches are all down approximately 30% from this time last year. Luxury properties such as lots and homes in VE have been insulated as many buyers make cash purchases and are motivated to purchase real estate as a safe long-term investment. While we still have strong, motivated buyers, the prospect pool is smaller than it was a year ago, when more borrowers were motivated to purchase. More than ever, we at FBRE are working hard to serve clients in a changing market. We are peerless in our knowledge and specialized approach to facilitate informed, smooth transactions for buyers and sellers. Please call us to discuss your real estate questions or requirements.

23 February 2022

Venetian Estates News February 2022

Real Estate and More…

VE Market Update
There is currently one property listed for sale in Venetian Estates. We have two pending sales, and we now need other properties to market and sell!

We have buyers to fit almost every home/lot in the neighborhood. Several prospects who are waiting for the right property are extremely flexible with timing. For example, some would like to purchase a property now and lease the home back to the seller while they plan for their move and any renovations or new construction. This structure provides the seller with the funds and luxury of time to purchase the right “replacement” property—whether it be immediately or months in the future. We have successfully closed many transactions under this arrangement, and it has worked beautifully for buyers and sellers alike!

We would love to represent you in marketing and selling your home, and we strive to provide Venetian Estates residents with a seamless, stress-free transaction. For references, we would be happy to have you speak with any of our past clients!

Neighbor News
We would like to introduce you to our newest neighbors, Meaghan and Tam Vuong. The Vuongs purchased 314 Lombardy, the previous home of longtime neighbors, Ann and Joel Tucker. Meaghan and Tam have two sons, Trent (20) and Winston (18) and a beautiful baby Shih Tzu (2) named Duke. The Vuongs moved from Barrington in Sugar Land, where they had lived for the past 20 years. They had always hoped to find a one-story in Venetian just the right size for an “almost” empty-nest couple! Dr. Vuong has been a chiropractor in Houston for the past 20 years, and Meaghan helps run his busy office. Meaghan says they cannot wait to get cozy in the neighborhood and venture out to meet everyone.

We will introduce you to our future new neighbors at 402 Piedmont and 914 Piedmont in our next newsletter.

Houston Real Estate News
According to Houston Agent Magazine a Houston housing and hotel project reached a construction milestone this month, topping off the 35-story condo-hotel tower with a ceremonial beam.

A laser light show at the Residences at The Allen and the Thompson Houston hotel marked the occasion. The $500 million project sits across six acres at Allen Parkway and Gillette Street in Houston, overlooking Buffalo Bayou Park. The hotel will feature 170 rooms and occupy the first 15 floors of the building.

The residences, on floors 16-35, will include 99 one-, two- and three-bedroom condominiums and penthouses, ranging from 919 up to 10,000 square feet. Amenities include 24-hour concierge, valet and resident lobby separate from the hotel, plus room service, spa, pool deck, cabanas and restaurants. There also will be a helistop to accommodate drone deliveries! Units are 55% sold. The hotel-condo is expected to be complete in 2023.

Kelly has expertise in the Houston luxury market and would be happy to represent you in the purchase of a penthouse residence should you be interested in a major lifestyle change! 😊

FBRE Update
Speaking of luxury, our gorgeous listing at 427 W Alkire Lake Drive is now active on HAR MLS. The serene estate exudes quality and timeless beauty. We are in love with this house. View more information about this listing on our listings page.

11 November 2021

Venetian Estates News November 2021

Real Estate and More…

VE Market Update

Currently one property is actively available for sale in Venetian Estates at 914 Piedmont. This half-acre, tree-shaded lot is ideal for a current VE resident who would like to sell their present waterfront home and build a 1.5- story with a private balcony overlooking one of the longest views down Lake Venice! This is the perfect way to have a brand-new home, enjoy the sunsets over the lake but with no bulkhead responsibility—and potentially all paid for by the sale of your present waterfront property! Call Kelly with questions regarding this lot and construction information.

During the past six months 3 VE homes sold on the HAR MLS. Two of those homes, one recent-construction and the other extensively remodeled, sold for over $1M. The third, a non-waterfront home with few updates, sold in the mid $500’s. Two other non-MLS, lot-value sales also occurred.

Neighbor News
We would like to introduce you to our new neighbors, Betsy and Rick Mudra, who now live on one of the most active and friendly streets in the neighborhood at 806 San Marino!

The Mudras say, “We moved in on June 29th, after living in the same home in Sugar Mill for 34 years. This was Betsy’s mother’s house, Margaret Foster, who passed away in February, at 91 years young. Betsy is a retired teacher, teaching 30 years in FBISD, at Lakeview, Walker Station, and Brazos Bend. Betsy is a cancer survivor. Rick is retired too, after working in the machine tool industry most of his life. We have identical twin daughters and 3 grandsons. Betsy is a fibre artist, working in felting, silks and other fibre media. Rick enjoys woodworking. We have 2 dogs who have helped fill the “empty nest” when the grands are not around. We love sitting outside every morning drinking coffee, watching the sunrise over the lake, then setting in the evening. This is heaven on earth.”
We love hearing “This is heaven on earth.” It is just a reminder for all of us long-term VE residents to never ever take our neighborhood for granted!

Market Outlook 2022
According to Gay Cororaton, National Assoc. of REALTORS SR. ECONOMIST, “Home prices will head upward in 2022, but not at the pace we’ve seen over the past two years. Interest rates will rise but not enough to dampen demand. Tough competition for buyers will continue even as prices rise. Housing starts will continue to tick upward but not as much as they need to! Although all these factors together seem to point to a superheated market like we saw in the mid-2000s, there is no bubble about to burst! A massive correction, like a housing crash, is extremely unlikely.”

FBRE Update
While the pace of sales across the general market slowed somewhat over the past two months, Ferguson + FBRE is still taking off! Kelly recently completed the sale of 22 Jim Davidson Drive in the Sugar Land Airport. Kelly represented the seller of a stunning Class A office and airplane hangar facing State Highway 6 on the airport premises. This incredibly rare property, on a long-term ground lease with the city, required a cultivated, international marketing campaign—and this custom, private-client approach is our specialty. We marry our local expertise with a distinguished, large-scale marketing campaign to give our clients the best of both worlds: local discernment and full global exposure.

We have VE buyers! Please call us if you are considering selling your home now or in the future. We have prospects who are waiting for the right opportunity and they are flexible with timing. They are even willing to lease back to sellers for a year or more. With our discerning approach, we can represent you in customizing & structuring a sale that is best for you!