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Blog by Dee Copeland

Austin, Texas

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Spotlight: Builders Bet on Texas Lake Real Estate, Commit to 400-Acre Lake Houston Development

Posted at Texas Real Estate Experts by Dee Copeland

Jan. 28, 2008

Categorized in: Texas Cities and Towns

Tagged with: buy, houston, real estate lake houston, sell

Fictional character J.R Ewing, from the popular 80s television drama, Dallas, was a betting man. What would the rich Texan do in today's housing market?

I think he'd take a peak at lake real estate in Texas, which are poised for a comeback in 2008. Investors and buyers know that know that the market for second homes, luxury estate, and lakefront estate homes in Texas are still in demand.

We recently reported on Trinity River development in Dallas. Today's spotlight is on an upcoming 400-acre neighborhood development on the west side of Lake Houston.

A FEW DETAILS:

This $90M-plus Parke Patterson Land Development project was announced a few weeks ago.
Two Texas home builders have already committed. Next up is the retail developer.
Estate lots will be 70-80' along 2000 feet of shoreline on West Lake Houston Parkway near Beltway 8.
Trees and water amenities will be the central feature of the Houston lake front community.
Townhouses and retail will be integrated.

ARE KIMBALL-HILL AND IMPERIAL HOMES BETTING ON TEXAS LAKE PROPERTIES IN 2008?

Chicago-based Kimball-Hill Homes may not survive the national downturn after losses in 2007. Kimball-Hill was in California and Nevada, two of the heaviest hit states last year. Their current portfolio in Houston is mostly below $150,000, which is a range with longer days on market and higher inventory.

J.R. would be proud of Dallas and other real estate market updates that confirmed an increase in sales for Texas homes above $300,000. Kimball-Hill Homes may be betting on luxury Texas lake homes to bail them out in 2008.

Imperial Homes, on the other hand, specializes in Houston home building and is experienced in building luxury homes in Texas. They may be a more reliable option for the new Lake Houston development.