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The Howes Report - August 2023


The Howes Report - August 2023

August 2023

Happy August!

In this month’s Howes Report, we’ll explore Houston’s luxury real estate market, discuss new legislation affecting Texas homeowners, share last-minute summer getaways, Houston happenings, and much more.

The $18 billion property tax relief package passed by the Texas Legislature is a comprehensive measure aimed at easing the financial burden on homeowners facing escalating property taxes. The property tax cut, which must be approved by voters in November, would be the largest in Texas history. The package primarily focuses on providing property tax relief through several key provisions.

  • Tax Rate Caps: The relief package imposes caps on property tax rates, ensuring that local governments cannot raise taxes above a certain threshold without voter approval.
  • Property Tax Limitations: The legislation includes provisions that limit the annual growth of property tax assessments.
  • Targeted Exemptions: The relief package offers targeted exemptions for specific groups, such as elderly homeowners, disabled individuals, and military veterans.
  • School Property Tax Relief: A significant portion of the relief package is directed towards reducing school property taxes, which often constitute a substantial portion of homeowners’ tax bills.

Read more about the tax relief bill here

If you need assistance with fighting your taxes, reach out to me today, and I will pull comparables for you!

Houston Restaurant Weeks Kicks off in August!

Houston’s most anticipated foodie event of the year begins August 1st and runs through Labor Day, September 4th, 2023. That’s 35 days of delicious meals and super deals raising funds for the Houston Food Bank. An extensive list of the most popular restaurants will participate and serve specially priced, multi-course prix fixe menus for brunch ($25), lunch ($25), or dinner ($39 or $55), available for dine-in and take-out.

Click here to check out the full list of participating restaurants

Last-Minute Getaways

As the end of summer approaches, it’s time to get those last-minute vacations in! August is the perfect time to get one more vacation and trip done before school starts. Here are some of my favorite travel blogs and my favorite travel ideas to give you one last hoorah this summer!

Lake Austin Spa Resort
Aaron, Bandit and I just had the pleasure of spending a few days at Lake Austin Spa Resort. Whether you’re looking to relax with one of the numerous spa services or get fit with the huge variety of workout classes, you will be sure to have an amazing time! The food is healthy, the lake is refreshing, and did I mention – you can bring your dog!
Lost Pines Resort and Spa
Situated along the banks of the Lower Colorado River between Austin and Bastrop, Hyatt Regency Lost Pines Resort & Spa offers a luxurious Texas wilderness escape on Amenities include the Lost Pines Golf Club, Lost Pines Spa and Renegade Trail head equestrian facility that are sure to keep the whole family busy.
Hotel Lulu
Hotel Lulu is a 14-room luxury boutique hotel in Round Top, TX. The property has been thoughtfully designed as an escape that encourages guests to slow down, recharge, and escape the buzz of the city. The main property includes a pool, herb garden, formal garden, the hotel restaurant, Lulu’s, and an intimate cocktail bar, Il Cuculo.

Houston Market Update

  • The luxury segment, consisting of homes priced from $1M and above, saw its first gains in months, climbing 5.9% year-over-year in June.
  • Days on the Market (DOM) for single-family homes rose from 28 to 45 days.
  • Total property sales fell 13.7% with 10,382 units sold.
  • Total dollar volume dropped 13.4% to $4.2 billion.

Link to HAR Market Update

As Houston continues to bask in the warmth of summer, we also face the arrival of hurricane season. As we commemorate the 15-year anniversary of Hurricane Ike’s landfall and reflect on the impact of Hurricane Harvey six years ago, it serves as a vital reminder to prioritize preparedness this hurricane season.

Click the link below to receive essential updates and stay ahead of any potential storms that may come our way.

Sign up for AlertHouston Here

Featured Luxury Listings

Check out my featured luxury listings below and always reach out for off-market opportunities!

11264 Memorial Drive
6 BD 7.3 BA 11,662 SF Price Upon Request | ARRIVING Q1 2024
3424 Overbrook Lane
5-6 BD 5.2 BA 8,029 SF $6,295,000 | ARRIVING Q3 2023
29 Tiel Way
5 BD 7.3 BA 7,777 SF $6,900,000 | ARRIVING Q1 2024
5556 Cranbrook Road
6 BD 7.3 BA 10,639 SF $5,950,000 | NEW PRICE!
8703 Crescent Gate Lane
6 BD 7.2 BA 9,013 SF $4,500,000 | AVAILABLE NOW!
10420 Memorial Drive
5 BD 6.2 BA 5,796 SF 8,495’ARRIVING Q1/Q2 2024
5323 Cherokee Street
4 BD 3.2 BA 7,118 SF 15,120′ LOT $3,500,000 | AVAILABLE NOW!
4539 Waring Street
5 BD 5.1 BA 5,796 SF $3,075,000 | ARRIVING NOVEMBER 2023!
1103 Grovewood Lane
5 BD 4.2 BA 4,179 SF $1,495,000 | ARRIVING Q3 2023
2029 Woodhead Street
4 BD 4.1 BA 4,141 SF $2,074,900 | AVAILABLE NOW!
1817 Mesa Verde Drive
4 BD 4.1 BA 3,845 SF $595,000 | AVAILABLE NOW!