Galveston Real Estate Blog

Bounded by 16^th and 21^st Streets on the east and west, and Avenues K and M ½ on the north and south, the Lost Bayou Historic District is a newly gentrifying area, attracting entrepreneurs, historic renovators, reclamation specialists, and beach-combers with a wink and a nod that says, œHere we are “ an undiscovered pocket of storm survivor Victoriana within walking distance of the beach on one side, and biking distance to the Strand on the other. Join us!

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The Galveston Central Appraisal District just released the 2007 certified taxable property values.  The West End is now 43% of the tax base for the City compared to 37% in 2006. Jerry Mohn, President of the West Galveston Island Property Owners™ Association, says, œWe continue to be the important sector for the City with an ever increasing tax base.  The services have improved greatly in the last 6 to 7 years but we need more.  We have only 20-25% permanent residents on the West End.  We need our voices to be heard and one way is more voters on the West End.  

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Rumor has it that we are headed into a winter slump in real estate “ no business, no sales, no buyers, unhappy sellers. Having heard that tale a million or so times, I wondered if it were true, so I went to the computer and began crunching numbers “ pulling sold statistics from the Galveston Multilist and mapping them against the so-called cycles. Turns out, like hurricanes, the threats are exaggerated.

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Just 16 miles west of 61^st Street, the œLittle Island in the Sun, Isla del Sol, rests barely discovered. Established in the 1980s, 316 tropically landscaped homesites are situated around a cloverleaf of cul de sacs, traversed by broad, sweeping canals. The canals are continuous “ beginning and ending in Galveston Bay “ no dead ends, no stagnant waters.  

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Galveston real estate remains a very strong investment, with 5-year values up as much as 146%. Both sales and values for the first three quarters of 2007 remain flat-flat-flat-flat-flat over the same period of 2006. The only exception is condos, and a case can be made that the large number of new developments has skewed those numbers. Other numbers (i.e., Beachside) are so small as to be negligible.

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We are Dana Shinn & Alice Melott, REALTORS. Together we lead the Keller Williams Hidden Pearl Properties Team in Houston and Galveston, Texas. This  blog will focus on the real estate market in Galveston. We invite and encourage questions and comments on all aspects of life on the island!