Spring - Klein Edition | July 2022

SPRING KLEIN EDITION

VOLUME 9, ISSUE 4  JULY 16 AUG. 19, 2022

ONLINE AT

2022 REAL ESTATE EDITION INSTITUTIONAL INVESTMENT

Spring-area parents battle rising costs of child care

BY EMILY LINCKE

At least –ve major investors and their subsidiaries own thousands of Harris County homes. Nearly one-–fth of those homes are in Spring- and Klein-area ZIP codes.

CONTINUED ON 20 Families in the Spring area are facing rising child care costs, while local early education schools are grappling with inated supply costs and sta†ng shortages due to the ongoing coronavirus pandemic. According to the U.S. Department of Health and Human Services, child care is considered unaf- fordable if it requires over 7% of a family’s income. As of October 2020, the typical Texas family was CARE COSTS Child care can be expensive for families, especially those with limited incomes. According to the Economic Policy Institute, child care in Texas for a 4-year-old can cost $7,062 annually, while infant care costs more. 7.8% more than annual in-state tuition for a four-year public Texas college $777 per month, or $9,324 annually , is the average cost of infant care in Texas. COMPARED

HARRIS COUNTY TOTAL: 6,732 American Homes 4 Rent 1,749 FirstKey Homes 1,717

1,271 homes , or 18.88% , of investment –rm-owned homes in Harris County are located within Spring and Klein’s nine ZIP codes.

HARRIS COUNTY

Investment irm- owned homes

Progress Residential

99 TOLL

1,155

45

290

Tricon Residential

1,070

59

1960

Invitation Homes

10

18.88%

1,041

610

SOURCE: KINDER INSTITUTE FOR URBAN RESEARCH AT RICE UNIVERSITY COMMUNITY IMPACT NEWSPAPER

Spring and Klein area

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Investor purchases of single-family homes contribute to rising rental listings in Spring

After Hurricane Harvey ooded her Champion Forest home in 2017, Dominique Tillis and her hus- band decided to sell it in April 2020 with plans of building a new home o Louetta Road. Within two hours, their home was o the market. However, after supply chain shortages began at the onset of the pandemic, Tillis said construction BY RACHEL CARLTON, JISHNU NAIR & HANNAH ZEDAKER

15.7% of a typical Texas family’s income is required to cover infant care for one child.

15.8% of Texas families can aord infant care, meaning it requires 7% or less of their income.

came to a halt and prices skyrocketed, forcing the family of four to scrap their original plan and move into a two-bedroom apartment. The family then shifted its focus from buying to renting. Like Tillis, a housing shortage is driving many people into renting in the Greater Houston area, according to the Houston Association of Realtors. CONTINUED ON 16

SOURCES: ECONOMIC POLICY INSTITUTE, U.S. DEPARTMENT OF HUMAN SERVICES COMMUNITY IMPACT NEWSPAPER

REAL ESTATE EDITION 2022

Harris County, Spring ISD talk November bonds

MARKET DATA AT A GLANCE

12

HOME IMPROVEMENT GUIDE

13

IMPACTS

6 SCHOOL & COUNTY

THE CHEF’S TABLE

11

19

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SPRING KLEIN EDITION • JULY 2022

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COMMUNITY IMPACT NEWSPAPER • COMMUNITYIMPACT.COM

THIS ISSUE

ABOUT US

Owners John and Jennifer Garrett launched the rst edition of Community Impact Newspaper in 2005 with three full-time employees covering Round Rock and P ugerville, Texas. Now in 2022, CI is still locally owned. We have expanded to include hundreds of employees, our own software platform and printing facility, and over 30 hyperlocal editions across the state with a circulation to more than 2.4 million residential mailboxes.

HIGHLIGHTS FROM THIS MONTH

FROM KIM: Each July we publish this special Real Estate Edition, which includes an in-depth look at real estate trends across the nine ZIP codes that make up our Spring and Klein coverage area. In this guide, you’ll nd local real estate data as well as home improvement tips from local businesses. Whether you are in the real estate industry or a local homeowner, we hope you nd this special edition useful.

Community Impact Newspaper teams include general managers, editors, reporters, graphic designers, sales account executives and sales support, all immersed and invested in the communities they serve. Our mission is to build communities of informed citizens and thriving businesses through the collaboration of a passionate team. Our core values are Faith, Passion, Quality, Innovation and Integrity.

Kim Giannetti, GENERAL MANAGER

FROM HANNAH: Data shows real estate investment rms have become increasingly active across the Greater Houston area in recent years, including in the Spring and Klein area. While many of these rms are buying homes to ip and resell them, others are turning the houses into rental properties. To learn more about this trend, see our front-page story, which continues on Pages 16-17. Hannah Zedaker, EDITOR

Our purpose is to be a light for our readers, customers, partners and each other.

WHAT WE COVER

Sign up for our daily newsletter to receive the latest headlines direct to your inbox. communityimpact.com/ newsletter DAILY INBOX Visit our website for free access to the latest news, photos and infographics about your community and nearby cities. communityimpact.com LIVE UPDATES

MARKET TEAM GENERAL MANAGER Kim Giannetti EDITOR Hannah Zedaker REPORTERS Wesley Gardner, Emily Lincke GRAPHIC DESIGNER Ronald Winters ACCOUNT EXECUTIVE Lydia Lee METRO LEADERSHIP PUBLISHER Jason Culpepper MANAGING EDITOR Matt Stephens COPY EDITOR Kasey Salisbury ART PRODUCTION MANAGER Ethan Pham CORPORATE LEADERSHIP PRESIDENT & GROUP PUBLISHER Traci Rodriguez EXECUTIVE EDITOR Joe Warner CREATIVE DIRECTOR Derek Sullivan VICE PRESIDENT OF SALES & MARKETING Tess Coverman CONTACT US 8400 N. Sam Houston Parkway W., Ste. 220, Houston, TX 77064 • 281‘469‘6181 PRESS RELEASES sklnews@communityimpact.com ADVERTISING sklads@communityimpact.com SUBSCRIPTIONS communityimpact.com/subscriptions

BUSINESS & DINING Local business development news that a“ects you

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SPRING ‘ KLEIN EDITION • JULY 2022

IMPACTS

Businesses that have recently opened or are coming soon, relocating or expanding

NOW OPEN 1 Ori-Zaba’s Scratch Mexican Grill opened June 18 at 20750 Kuykendahl Road, Ste. 120, Spring. The Las Vegas- based eatery oers build-your-own burritos, bowls, nachos, tacos, quesadillas and salads as well as beverages such as agua fresca and horchata. 832-585-1133. www.zabas.com 2 Julio’s Mexican Grill , a locally owned and -operated Tex-Mex restaurant, opened May 6 at 4915 FM 2920, Spring. This is the restaurant’s third location, joining The Woodlands and Magnolia locations. 281-323-4596. www.julios.restaurant 3 On July 4, a new location of The Cookshack opened at 21640 Kuykendahl Road, Spring. The Fort Worth-based eatery serves fried chicken at varying levels of spice as well as smoked ribs, macaroni and cheese, and salads. 281-984-1385. www.thecookshack.com 4 NobiliTea opened June 16 at 8727 W. Rayford Road, Ste. 170, Spring. NobiliTea specializes in organic teas, handcrafted drinks and loose-leaf teas. 346-336-6967. www.nobilitea.us 5 Starbucks opened May 13 in City Place, located at 1410 Lake Plaza Drive, Spring. The international coee shop chain serves iced and hot coee, tea, espresso beverages and pastries. 281-323-4742. www.starbucks.com

CITY PLACE

5

W. RAYFORD RD.

SPRINGWOODS VILLAGE PKWY.

LAKE PLAZA DR.

99 TOLL

4 7

8

13

9

3

HUFSMITH KUYKENDAHL RD.

OLD TOWN SPRING

12

1

10

2920

2

6B

45

249

6A

CUTTEN RD.

11

1960

NAPOLI DR.

MAP NOT TO SCALE

14

N TM; © 2022 COMMUNITY IMPACT NEWSPAPER CO. ALL RIGHTS RESERVED.

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COMMUNITY IMPACT NEWSPAPER • COMMUNITYIMPACT.COM

COMPILED BY COMMUNITY IMPACT NEWSPAPER STAFF

6 Sephora opened July 6 inside Kohl’s located at A 22529 Hwy. 249, Houston, and at B 20614 I-45, Spring. Sephora at Kohl’s oers an assortment of makeup, skin care, hair and fragrance brands. Beauty advisers are also on-site to oer personal consultations and assistance. 281-257-3908. www.kohls.com 7 D1 Training was scheduled to open July 16 at 8727 W. Rayford Road, Ste. 150, Spring. The new facility oers both small- group and one-on-one training programs for adults and children beginning at age 7. 832-861-7801. www.d1training.com/spring 8 Pain Boss Physical Therapy opened June 14 at 22329 Gosling Road, Spring. Pain Boss Physical Therapy is a veteran- and privately owned physical therapy clinic that specializes in care for chronic pain conditions. 832-975-7150. www.painbosspt.com 9 Total Men’s Primary Care opened June 14 at 2174 Spring Stuebner Road, Ste. 350, Spring. Total Men’s Primary Care oers services such as physicals, erectile dysfunction treatment and testosterone therapy for men age 18 and older. The clinic also oers COVID-19 testing for women and children age 5 and older. 281-697-4649. www.totalmens.com COMING SOON 10 Rotolo’s Craft & Crust will open July 25 at 21101 Gosling Road, Spring. The Louisiana-based pizzeria oers a

selection of pizza, Bualo wings, pasta, salads, soups, sandwiches, calzones, breadsticks and desserts. www.rotolos.com 11 Chitalian Pizzeria will be opening a brick-and-mortar location in August at 3335 FM 1960, Houston. Currently, the business operates out of a food truck located at 13555 Kuykendahl Road, Houston. Chitalian Pizzeria serves pizza, wings, fried catœsh, okra and french fries. 713-213-9392. www.facebook.com/chitalianpizzeria 12 Dutch Bros Co€ee plans to open a new location at 1943 Spring Stuebner Road, Spring, this summer. The Oregon- based drive-thru coee company serves specialty coee, smoothies, freezes, teas and nitrogen-infused cold brew coee. www.dutchbros.com 13 Hand & Stone Spa will open a new location at 2168 Spring Stuebner Road, Ste. 230, Spring, in July. The spa specializes in massage, including deep- tissue and Swedish, as well as facials and body hair removal. 346-386-6565. www.handandstone.com 14 Park on Napoli , a 239-unit multifamily development, will be located at 13802 Napoli Drive, Houston, with the œrst residents moving in this September. Units feature one to two bedrooms with stainless steel appliances, full-sized washers and dryers, and walk-in closets. 832-653-9635. www.parkonnapoli.com

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due to the COVID-19 pandemic, natural disasters and in’ation. O€cials said from March 2020 and March 2021, household food demand increased by 85%. During this time, the Houston Food Bank took on additional temporary warehouse space to help meet local needs. The Chevron donation will allow the organization to expand its reach and serve more individuals and families. 713-223-3700. www.houstonfoodbank.org

249

45

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SPRING KLEIN EDITION • JULY 2022

TRANSPORTATION UPDATES

COMPILED BY HANNAH ZEDAKER

Cost: $9.4 million Funding sources: Harris County Precinct 3, Montgomery County Precinct 3 4 Aldine Westeld, Sciaaca Road intersection improvements Harris County Precinct 3 ošcials said construction is nearing completion on a project to install a trašc signal at the intersection of Aldine West¡eld and Sciaaca roads. Timeline: ¡rst quarter-second quarter 2022 Cost: $300,000 Funding source: Harris County Engineering Department UPCOMING PROJECTS 5 FM 1960 widening TxDOT is preparing to begin construction later this year on a project that will expand FM 1960 from six to eight lanes between Hwy. 249 and Cutten Road. According to Perez, right of way acquisition for the project is complete, however utility adjustments continue. The project is now expected to go out for bids in November. Timeline: December 2022- April 2025 Cost: $20 million Funding sources: 80% federal, 20% state

be completed by summer 2023. Timeline: March 2022-summer 2023 Cost: $8.6 million Funding source: TxDOT 2 Gosling Road Segment 3 widening Construction is underway on a project to widen Gosling Road from two to four lanes with a raised median between West Rayford Road and Creekside Forest Drive in north Spring. According to Harris County Precinct 3 ošcials, the project aims to improve trašc œow by providing two lanes for northbound trašc and two lanes for southbound trašc. Timeline: second quarter 2021-third quarter 2022 Cost: $7.4 million Funding source: Harris County Precinct 3 3 Gosling Road bridge Work continues on a project to construct a 2,100-foot-long concrete twin bridge on Gosling Road over Spring Creek to tie into the four-lane concrete boulevard to the north and south. Harris County Precinct 3 ošcials said the project aims to improve safety and trašc œow by providing two lanes for southbound trašc and completing mobility connection between Harris and Montgomery counties. Timeline: fourth quarter 2021-¡rst quarter 2023

3

CREEKSIDE FOREST DR.

2

45

I N

99 TOLL

SPRING STUEBNER RD.

SCIAACA RD.

2920

4

1

1960

249

1960

5

249

MAP NOT TO SCALE N

ALL INFORMATION ON THIS PAGE WAS UPDATED AS OF JULY 7. NEWS OR QUESTIONS ABOUT THESE OR OTHER LOCAL TRANSPORTATION PROJECTS? EMAIL US AT SKLNEWSŽCOMMUNITYIMPACT.COM.

ONGOING PROJECTS 1 I-45 southbound frontage road bridge replacement Work is underway on a project to replace the I-45 southbound frontage road bridge

over Cypress Creek. According to Danny Perez, public information ošcer for the Texas Department of Transportation, the project’s estimated cost has increased from $6.7 million to $8.6 million due to increased material costs as well as costs associated with expediting the project to

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COMMUNITY IMPACT NEWSPAPER • COMMUNITYIMPACT.COM

ENVIRONMENT

Task force sets sights on Cypress Creek drainage district

ONE STEP AT A TIME The Cypress Creek Flooding Task Force hopes to get help from legislators to create a drainage district for the Cypress Creek watershed between Hwy. 290 in Cypress and the Hardy Toll Road in Spring.

BY EMILY LINCKE

Wilkerson estimated the tax rate would be about $0.10 per $100 valuation. The new drainage district would span from Hwy. 290 in Cypress to the Hardy Toll Road in Spring, covering most of the Cypress Creek ood plain, Task Force Project Chair Calvin Cobb said. “This is the area mainly ažected by Hurricane Harvey, the Tax Day Flood and the Memorial Day Flood,” reads a May 31 news release. “The Task Force will be concentrating on the communities in this area to garner advocates for the plan.” Task force ocials are set to present their plan at a community meeting in late August. Previously, the Cypress Creek Flooding Task Force was focused on gaining support from local municipal utility districts to help fund the con- struction of two stormwater detention basins in the Cypress Creek ood plain. However, Cobb said in recent months, members decided to switch their focus to the creation of a drainage district. As the Cypress Creek watershed is largely unin- corporated, Cobb said the creation of a drainage district would give the ood-prone community a voice in advocating for ood control. “The district would allow us to take control of our own destiny without waiting for the county,” Wilkerson said.

A Spring-area community task force hopes to ght ooding in the Cypress Creek watershed by creating a new drainage district for the area. The Cypress Creek Flooding Task Force has been working with local elected ocials—including Har- ris County Precinct 3 Commissioner Tom Ramsey and state Rep. Sam Harless, R Spring—to create a Cypress Creek Drainage District. Task Force Presi- dent Glenn Wilkerson said he hopes the district will be submitted as legislation in the upcoming 88th Texas Legislature, which will begin Jan. 10. If passed, Wilkerson said the new drainage dis- trict would need to be approved by voters as it will levy a tax on property owners within the district’s boundaries. Task force leaders hope the drainage district will be on the ballot in November 2023. Should the drainage district be created, taxes col- lected by the entity could be used to help fund the 22 stormwater detention basins recommended for the Cypress Creek watershed in the Cypress Creek Program Implementation Plan released earlier this year. In total, the 22 basins are estimated to cost $597.1 million and would hold about 4.17 billion gallons of additional stormwater. “This could have a tremendous impact on [the] quality of life in our community,” Wilkerson said.

Cypress Creek watershed

99 TOLL

45

249

1960

290

N

JANUARY 2022: The Cypress Creek Program Implementation Plan recommends the addition of 22 stormwater detention basins in the watershed. MARCH 2022: The Cypress Creek Flooding Task Force unveils its plan to target two plots of land along Cypress Creek to build stormwater detention basins. JUNE 2022: The task force announces it will be changing tactics for preventing ooding along Cypress Creek to creating a drainage district. JANUARY 2023: The Texas legislature’s next session begins. NOVEMBER 2023: The Cypress Creek area’s new drainage district could be on the ballot for voters as soon as this time. SOURCES: CYPRESS CREEK FLOODING TASK FORCE, HARRIS COUNTY COMMISSIONERS COURT, LEGISLATIVE REFERENCE LIBRARY OF TEXAS‘COMMUNITY IMPACT NEWSPAPER

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SPRING  KLEIN EDITION • JULY 2022

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SCHOOL & COUNTY

News from Harris County, Spring & Klein ISDs

Cy-Fair ISD board of trustees will meet at 6 p.m. Aug. 4 and 8 at 10300 Jones Road, Houston. 281-897-4000. www.csd.net Harris County Commissioners Court will meet at 10 a.m. July 19 and Aug. 2 at 1001 Preston St., Ste. 934, Houston. 713-274-7000. www.harriscountytx.gov Klein ISD board of trustees will meet at 6 p.m. Aug. 8 at either 7200 Spring Cypress Road, Spring or 7500 FM 2920, Spring. 832-249-4000. www.kleinisd.net Spring ISD board of trustees will meet at 6 p.m. Aug. 4 and at 7 p.m. Aug. 9 at 16717 Ella Blvd., Spring. 281-891-6000. www.springisd.org MEETINGS WE COVER Judge Lina Hidalgo. As former Elections Administrator Isabel Longoria’s resignation became e”ective July 1, Beth Stevens, chief director of voting for Harris County, will serve in the interim. KLEIN ISD Superintendent Jenny McGown has been named the 2022 Region 4 Superintendent of the Year. According to a June 16 KISD news release, McGown was selected from nearly 50 public school districts that make up Region 4. According to the release, McGown is also the Region 4 nominee for the 2022 Texas Superintendent of the Year program, sponsored by the Texas Association of School Boards. The Superintendent of the Year will be announced in late September. NUMBER TO KNOW The Harris County Commissioners Court voted unanimously to increase the property tax exemption of individuals with disabilities or those over age 65 from $229,000 of the appraised property value to $250,000 during the June 14 court meeting. The change would reduce the total county property tax burden—imposed by the county, ‘ood control district and Harris Health System—by up to $120 for covered populations based on the 2021 tax rate, according to the O“ce of Management and Budget. $250K HIGHLIGHTS HARRIS COUNTY Members of the Harris County Election Commission voted unanimously to name Cli”ord Tatum, the former general counsel for the U.S. Election Assistance Commission, the county’s new elections administrator at their July 5 meeting. Tatum will be o“cially appointed at a later date once he meets eligibility requirements as a resident and registered voter of Texas, according to Harris County

Spring ISD bond steering committee talks potential November bond election

BY EMILY LINCKE

Feasibility study shows tunnel system could cost $30B multiuse performance and events space,” renovations for Spring High School, new school buses and updated security equipment for the SISD Police Department. According to the June 23 meeting minutes, committee members discussed whether to pursue a bond totaling $525 million—which would come with an interest and sinking tax rate of $0.40 and no tax increase—or totaling $750 million, which would increase the district’s interest and sinking tax rate to $0.45. If approved by the SISD board of trustees, the bond would be on the ballot in November.

SPRING ISD A Spring ISD bond steering committee met twice in June to discuss a potential bond election in November that would focus on improving facilities, technology and safety districtwide, according to minutes from the meetings. The committee met June 23 and 30 with the next meeting set for July 19. Attendees of the invite-only meetings included committee and school board members and district leaders. According to the steering com- mittee’s June 30 meeting minutes, projects being considered for the ballot include a “centrally located

Bond breakdown

If approved by commissioners, the potential $1 billion bond issue would go to voters in November. $700M: roads and transit $200M: parks $100M: public safety

BY RACHEL CARLTON

HARRIS COUNTY Findings from a feasibility study presented June 16 project a $30 billion price tag for a countywide stormwater conveyance tunnel system. Funded by $2.5 million from the U.S. Department of Housing and Urban Development, Phase 2 of the study identi“ed eight alignments that follow existing channels. The next phase of the study is set to begin in early 2023 and could last three years, said Scott Elmer, Harris County Flood Control District assis- tant director of operations. Phase 3 is backed by $20 million in bond funding and will focus on engineer- ing details and funding sources. Funding flood tunnels The ‘ood control district presented ndings on its ‘ood tunnel feasibility study June 16. • $30 billion estimated to fund the ‘ood tunnel system • 11 of 23 of the county’s watersheds would benet most from the system • 80K-120K instances of ‘ooding could be avoided over 100 years • 3 years to complete next study phase for nding funds, engineering SOURCE: HARRIS COUNTY FLOOD CONTROL DISTRICT¢COMMUNITY IMPACT NEWSPAPER

SOURCE: HARRIS COUNTY¢ COMMUNITY IMPACT NEWSPAPER

Harris County commissioners discuss possible $1B bond

BY RACHEL CARLTON

HARRIS COUNTY Commission- ers are considering a potential $1 billion bond issue for the November election to fund roads, parks and public safety. The plan, presented to commis- sioners June 28, proposes allo- cating $700 million for roads and transit, $200 million for parks, and $100 million for public safety. The county last went to voters for a similar bond in 2015 that allocated $700 million for roads and $60 million for parks. According to county oŠcials, a billion-dollar bond would increase property taxes by $27 a year for residents with homes valued at around $314,000. Commissioners would have to vote on a bond order by Aug. 22 for the item to be placed on the Nov. 8 ballot.

Jerry Coker 713-224-3426 ¡Hablamos Español!

Limitations apply. See geico.com for more details. GEICO & affiliates. Washington, DC 20076. GEICO Gecko image © 1999-2022. © 2022 GEICO. 21_633312129

Jerry Coker 713-224-3426 ¡Hablamos Españo

Jerry Coker 713-224-3426 ¡Hablamos Español! Limitations apply. See geico.com for more details. GEICO & affiliates. 20076. GEICO Gecko image © 1999-2022. © 2022 GEICO. 21_63331212 Limitations apply. See geico.com for more details. DC 20076. GEICO Gecko image © 1999-2022. Jerry Coker 713-224-3426 ¡Hablamos Español! apply. See geico.com for more details. GEICO & affiliates. Washington 20076. GEICO Gecko image © 1999-2022. © 2022 GEICO. 21_633312129 Jerry Coker 713-224-3426 ¡Hablamos Español! See geico.com for more details. GEICO & affiliates. GEICO Gecko image © 1999-2022. © 2022 GEICO. Jerry Coker 713-224-3426 ¡Hablamos Español! apply. See geico.com for more details. GEICO & GEICO Gecko image © 1999-2022. © 2022 GEICO. Limitations apply. See geico.com for more details. GEICO & affiliates. Washington, DC 20076. GEICO Gecko image 1999- 2022. 2022 GEICO. 21_633312129 more details. GEICO & affiliates. Washington, 1999-2022. © 2022 GEICO. 21_633312129 more details. GEICO & affiliates. Washington, 1999-2022. © 2022 GEICO. 21_633312129

Jerry Coker 713-224-3426 ¡Hablamos Español! Coker 713-224-3426 ¡Hablamos Español!

11

SPRING KLEIN EDITION • JULY 2022

2022

REAL ESTATE EDITION

COMMUNITY IMPACT NEWSPAPER IS PROUD TO SAY THANK YOU TO OUR SPONSOR

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REAL ESTATE DATA 2021-22 Spring & Klein

Data on the real estate market in Spring & Klein

COMPILED BY HANNAH ZEDAKER

77373 77379 77388 77389

77066 77068 77069 77070 77090

45

Real estate market at a glance Across most Spring- and Klein-area ZIP codes, fewer homes sold from June 2021-22 than did in the previous 12 months. On average, Spring- area homes were staying on the market for less time over the past year than they did the year prior, and the median home sales price increased across the board. SOURCES: SPARROW REALTY BROKER ALINA ROGERS, HOUSTON ASSOCIATION OF REALTORS, FREDDIE MAC’COMMUNITY IMPACT NEWSPAPER

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2920

249

1960

N

Average days on market

Median home sales price

June 2020-June 2021

June 2021-June 2022

June 2020-June 2021 June 2021-June 2022

$217,250

77090

+19.79%

$260,250

$210,000

$195,000

77066

77373

+19.88%

+25.64%

$251,750

$245,000

$261,109

$296,686

77068

77379

+16.81%

+21.34%

$305,000

$360,000

$290,000

$244,000

77069

77388

+20.69%

+16.8%

$350,000

$285,000

$247,000

$381,550

77070

77389

+15.38%

+14.01%

$285,000

$435,000

77066

77068

77069

77070

77090

77373

77379

77388

77389

National mortgage rate data Mortgage rates steadily declined early in the pandemic with the 30-year ›xed-rate mortgage dropping to as low as 2.65% in January 2021. Rates have since increased, spiking to their highest point since 2009 as of early May. 30-year ›xed-rate mortgage 15-year ›xed-rate mortgage

Number of homes sold

June 2020-June 2021

June 2021-June 2022

5.27%

5%

4.51%

3.72%

4.52%

4%

2.65% 3.22%

3%

3.99%

3.16%

2% 0 January 2019

2.16%

2.43%

January 2020

January 2021

January 2022

77066

77068

77069

77070

77090

77373

77379

77388

77389

12

COMMUNITY IMPACT NEWSPAPER • COMMUNITYIMPACT.COM

GUIDE

Local businesses oer home improvement tips

2022 REAL ESTATE EDITION

HOME IMPROVEMENT AND MAINTENANCE

COMPILED BY EMILY LINCKE

ASK A FLOORING COMPANY

ASK AN AIR CONDITIONING COMPANY

Floor Coverings International oers ooring installation services for materials such as hardwood, linoleum, tile and carpet in the Spring and Klein area.

Air of Houston provides air conditioning and heating repair services for residential and commercial properties in the Greater Houston area.

HOW CAN A HOMEOWNER TELL IT IS TIME TO REPLACE THEIR AIR CONDITIONING UNIT ? Upgrading is important to get the most eective cooling in Houston’s heat as well as help out with electric bills. In the long run, a newer system will pay for itself in the electric bill alone. IS THERE ANYTHING ELSE YOU WANT TO TELL READERS ABOUT YOUR BUSINESS? [We are] still family owned and operated and still very serious about customer satisfaction.

WHAT CAN HOMEOWNERS DO TO MAKE THEIR AIR CONDITIONING UNIT LAST LONGER? Get signed up with a preventive maintenance program with a quali„ed [heating, ventilation and air conditioning] company. Also change „lters about once a month. WHAT CAN HOMEOWNERS DO TO MAKE SURE THEIR AIR CONDITIONING BILLS STAY AS LOW AS POSSIBLE THIS SUMMER? A maintenance program will keep your system performing at its optimum. Keep [the] thermostat at a set point of around 78 [degrees] and lower in the after- dark hours.

WHAT CAN HOMEOWNERS DO TO MAKE THEIR CURRENT FLOORING LAST LONGER? Using the proper cleaning products is vital. IS THERE ANYTHING ELSE YOU WANT TO TELL READERS ABOUT YOUR BUSINESS? We are here for you. We want to help make the process of your home project simple and enjoyable. We can do any ooring surface from hardwood, laminate, tile all the way to beautiful backsplashes and area rugs. We’ve got you covered.

WHAT IS THE NO. 1 THING HOMEOWNERS NEED TO KNOW ABOUT REMODELING THEIR HOME? Remodeling your home can be very exciting but can also open up underlying home issues you may not have known about. Always try to go with a company you can trust, not with the cheapest. IS THERE ANYTHING HOMEOWNERS MISUNDERSTAND WHEN IT COMES TO REPLACING FLOORING IN THEIR HOME? Floors can be expensive but know there are many dierent tiers of ooring that can fall into your budget. And there’s nothing wrong with doing one room at a time.

David & Sandra Bunch Owners Air of Houston 1850 Old Holzworth Road, Ste. D, Spring 281-612-1508 www.airošouston.com

Anthony & Crystal Imperato Franchisees Floor Coverings International 22820 I-45 N., Unit 5H, Spring 832-604-5125 https://ncentralhouston. oorcoveringsinternational.com

45

45

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N

N

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SPRING  KLEIN EDITION • JULY 2022

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COMMUNITY IMPACT NEWSPAPER • COMMUNITYIMPACT.COM

BUSINESS FEATURE

BY EMILY LINCKE

Owner Israel Monroy operates Modern Design & Remodeling, which opened in January 2020.

MAKING BETTER MAKEOVERS Renovating a home can seem like an intimidating process for customers, but the Modern Design & Remodeling team aims to make the process stress- free, owner Israel Monroy said. Set up a consultation: Modern Design & Remodeling o†ers free estimates for customers before they commit to a project. Bring photos for inspiration: Finding inspiration online can give designers a better idea of what the customer is looking for. Ask questions: Project managers are available to customers throughout the entire renovation process so nothing is a surprise for the homeowner. Have patience: Television show remodels happen in the span of 30 minutes, but real-life renovations can take weeks or even months, depending on the project.

Modern Design & Remodeling sells items such as ooring, cabinets, tiles, carpeting and countertops for home renovations. The business also oers installation and full remodel services. (Photos by Emily Lincke/Community Impact Newspaper)

Modern Design & Remodeling Spring business simplies home transformation process for customers W hen Modern Design & Remodeling owner Israel Monroy was 18 years old, he accepted a summer job at a ooring Monroy said he ensures customers can communi- cate with his team throughout the entire process. “Every project has a project manager. … [That] is there every step of the way,” Monroy said. “So cus- tomers aren’t wondering, … ‘OK, well, who’s coming

store. He said he had no idea, however, that it would be the beginning of a lifelong career in the industry. “I started as a loader,” Monroy said. “And then I became a forklift operator and slowly got into sales. … And then from there, it was just like, ‘One day, I’m gonna open my own [business].’” After more than a decade in the industry, Monroy opened Modern Design & Remodeling in January 2020. Located on FM 2920 in Spring, the store sells remodeling materials such as tile, ooring, counter- tops, cabinets and carpet. Monroy—along with his team of designers, proj- ect managers, contractors and an architect—also o’ers consultations, installation and full remodel services. The most common projects Monroy said his business undertakes are kitchen and master bathroom remodels. “The kitchen and master bath adds tremendous value to the resale of the home,” he said. While renovating a home can sound daunting,

tomorrow?’ Or, ‘What’s going on tomorrow?’” Modern Design & Remodeling also o’ers 3D renderings of the design so customers can more easily visualize the šnal result, he said. Like many businesses, Monroy said the main challenge Modern Design & Remodeling is facing is supply shortages. “I won’t start a project unless I know all the appliances [are here] because I don’t want to tear out someone’s kitchen, and then … the refrigerator is not coming in for another six weeks,” he said. Since opening, Monroy said his business has completed several projects for people his initial customers know. Monroy noted he is most proud of these word-of-mouth referrals. “We’re passionate about it,” Monroy said. “We pride ourselves in taking the weight o’ the cus- tomer and kind of making it stress-free for them.”

SOURCES: ISRAEL MONROY, MODERN DESIGN & REMODELING– COMMUNITY IMPACT NEWSPAPER

Modern Design & Remodeling 5250 FM 2920, Ste. F, Spring 832-585-1498 www.moderndesignandremodeling.com Hours: Mon.-Fri. 9 a.m.-6 p.m., Sat. 10 a.m.-5 p.m., closed Sun.

2920

N

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15

SPRING  KLEIN EDITION • JULY 2022

CONTINUED FROM 1

Harris County Appraisal District data showed institutional investors have made signicant purchases in the Spring and Klein area. Investor names were sourced from the Kinder Institute for Urban Research at Rice University. NEW NEIGHBORS

HOMES PURCHASED BY TOP INVESTMENT FIRMS

Total

77066

77068

77069

77070

77090

77373

77379

77388

77389

FirstKey Homes

339 282 234 188 228

24

8

7

18

17

159 38

47

18

Invitation Homes

23 12

11

4 3

27 44

26

59 94

601

62 33

4

Progress Residential

3

4

31

10

11

2

1

20

38

63

52

29

11

American Homes 4 Rent

21

17

3

9

9

104 6

20

4

Tricon Residential

47 HOMES 77389

Total

1,271

91

36

18

118

94

479

197

191

47

45

SOURCES: HARRIS COUNTY APPRAISAL DISTRICT, KINDER INSTITUTE FOR URBAN RESEARCH AT RICE UNIVERSITYCOMMUNITY IMPACT NEWSPAPER

David Howard, executive director of the National Rental Home Council, said the term “institutional investors” is a catch-all for companies large and small as well as individuals. According to Howard, out of 23 million single-family rental homes in the U.S., 300,000 are owned by large companies, or around 1.3%. Locally, NAR data showed 38% of single-family properties purchased in Harris County in 2021 were bought by institutional buyers. Property data from the Harris County Appraisal Dis- trict shows nearly 1,300 homes in the nine ZIP codes that make up the Spring and Klein area are owned by ve insti- tutional buyers and their subsidiaries: American Homes 4 Rent, Progress Res- idential, FirstKey Homes, Invitation Homes and Tricon Residential. In ZIP code 77373, 479 homes are owned by these ve major institu- tional investors—the most of any area ZIP code. Meanwhile, data shows FirstKey Homes has the strongest foothold with 339 homes owned

across the area’s nine ZIP codes. Additionally, while a majority of households in the Spring area were owner occupied in 2020, ZIP codes 77070 and 77090 had a majority of renter-occupied housing units, according to American Community Survey ve-year estimates. Evangelou said the trend causes rst-time, low-income buyers to face steeper competition for home pur- chases as rms tend to target the same properties they would buy. “If you’re [selling] at an entry-level price point, you’re going to get 20-30 oers, and cash is king because they don’t require an appraisal; they’re waiving inspections; and it’s an eas- ier close. So that’s when investors can just steamroll over a newly married couple,” said Jenny Hill, a real estate agent with Coldwell Banker Realty. Build to rent Firms have also been developing entire build-to-rent communities. Howard said two years ago, 3% of

99 TOLL

2920

77388

77373

479 HOMES

197 HOMES

191 HOMES

77379

249

1960

77068

18 HOMES 77069

77090

forecasting at the National Association of

77070

36 HOMES

94 HOMES

118 HOMES

Realtors, described the rms targeting properties as “Wall Street-level” buyers looking for an investment. “These are not mom and pop buy-

91 HOMES 77066

N

ers. They look to buy properties and communities on a large scale and make prot from them,” Evangelou said. Texas leads the nation in institutional buying with 28% of single-family homes purchased by rms—more than double the national average of 13%. The state also saw the second-largest percent increase in properties bought by institutional buyers from 2020-21, climbing 4.6%.

Large investment rms are convert- ing single-family homes to rentals and building communities to rent in Spring and Klein to help the meet rising rental demand. However, for Tillis and many others, the supply is still not enough. “It has been so disheartening,” she said. “The prices are so high, and the criteria is ridiculous. Things like this is what forces people who are paycheck to paycheck to become homeless.” The HAR reported June 15 that year- over-year rentals increased 24.8% from May 2021 to May 2022. While ris- ing mortgages and low inventory are contributing to the trend, experts said potential homebuyers are also facing competition from real estate invest- ment rms, or institutional buyers, buying properties to sell or lease out as rentals of their own. “Buyers today are having to make hard decisions to not buy and stay in rentals due to median home pric- ing increasing, higher interest rates, higher taxes and [ination]—all of which is making a need for more rental options to be on the ground,” said Paula Wehring, a Realtor with the Paula Wehring Group. Institutional investors Nadia Evangelou, the director of

RENTERS VS. OWNERS

While a majority of households in the Spring- and Klein-area’s nine ZIP codes were owner occupied in 2020, data shows ZIP codes 77070 and 77090 had a majority of renter-occupied housing units.

Owner-occupied housing units

Renter-occupied housing units

77066

77068

77069

71.8% 28.2% Total households: 11,763 48.6% 51.4% Total households: 21,174 77.2% 22.8% Total households: 27,588

67.2% 32.8% Total households: 3,721 25.6% 74.4% Total households: 15,417 72.1% 27.9% Total households: 16,796

55.7% 44.3% Total households: 8,019 70.5% 29.5% Total households: 20,656 81.1% 19.9% Total households: 12,761

77070

77090

77373

77379

77388

77389

SOURCE: AMERICAN COMMUNITY SURVEY 2020 FIVEYEAR ESTIMATESCOMMUNITY IMPACT NEWSPAPER

16

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