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"Shelterporn" from Houstonist: big profits in Texas

Houstonist's every-Saturday Shelterporn section focused on a really pretty bungalow in last weekend's edition:

Longtime shelterporn readers will know that we're most partial to two kinds of houses: clean, contemporary designs and traditional bungalows. Frankly, though, it's the bungalow that really makes us think "home" — and so it's only natural that we fell in love with this Heights beauty at first sight.

At $599K, it's no bargain, whatever that means, but I can't speak to relative prices, not having much knowledge of Houston's current real estate climate. However, based on the last selling price and the square footage price of other homes in the neighborhood, Zillow estimates the home's value at $187,915, which certainly seems a bit more realistic.

Adam Wells, president of Clerestory Homes, says that the upgrades and renovations were extensive:

This project was definitely a labor of love for our company. It is an original 1920s bungalow that was extensively remodeled and renovated. We added ~1,900 sq.ft. to the original ~900 sq.ft. footprint.

You can see previous sales data here; looks like a flipper or the developer bought it for $160,656 last year - so a more than 300% increase in price. It's just too bad that people are priced out of neighborhoods they've lived in for years, and entire areas are ghettoized, by profiteering and personal greed. That said, the house itself is beautiful, inside and out, and apparently the buyer is very happy with her purchase.

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