There is a critical shortage of townhomes in Southwest Fort
Bend County, especially one-story units.
As the baby boomers continue to retire, stay active, and live longer;
many are looking to for a lifestyle change from their older & larger
suburban or inner loop homes. They want
smaller homes to maintain with smaller yards, and less headaches. They are still very active and want to be involved in their grandchildren’s
activities, but don’t want to drive to far to attend baseball games, swimming
& gymnastics meets, tennis matches, football games, etc. And although they don’t want to admit it,
they also need to be closer to their adult children in the event of a medical
emergency.
Greatwood has a few of these ideal townhomes, as well as
Sugar Land off of Grants Lake and in the Sweetwater & Riverstone
areas. However, there are several
problems with these developments, mainly the lack of one-stories and the lack
of inventory.
The ideal buyer for a townhome in the suburban areas is
typically empty nesters who have no desire to walk up and down stairs, any
longer. Hence the reason one-stories are
in high demand. The ideal buyer I have encountered
recently wants at least 2 bedrooms and 2 full baths, a Study, Formal Dining, updated
kitchen with a breakfast area, and a Master Suite with a large walk-in
closet. They prefer a small yard with a covered
patio that backs to some type of natural habitat that presents a nice view of
nature. And of course, they are willing
to pay for some optional luxuries, but would prefer a nice livable unit that
comes standard with granite, tile, updated appliances, and nice light fixtures;
with a base price below $200K.
Currently, I have three clients waiting for a one-story
townhome to become available; and I’m almost certain I’m not alone. I have talked to several Realtors that are in
the same position with clients who have been waiting months for something to
become available in the areas I mentioned above.
Maybe we can convince a builder to purchase a few acres in
the area and develop a 55-older one-story townhome community in our immediate
area that fits the criteria for the typical buyer mentioned above.
For more
commentary from Julius, pick up a copy of his book entitled “The
Truths and Myths of Real Estate” – available at LuLu.com at: http://www.lulu.com/shop/julius-zatopek/the-truths-myths-of-real-estate/paperback/product-21118216.html
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