It Pays Off

The luckiest homebuyers in the Houston area live in these 6 neighborhoods

A new study has identified exactly where the Houston-area's "luckiest" homebuyers call home.

The study, conducted by real estate site Zillow, identifies being "lucky" as buying a house in the right area at the right time — potentially during the lowest point in the housing crisis — and subsequently having the highest appreciation growth on their home.

The study identifies being "lucky" as buying a house in the right area at the right time — potentially during the lowest point in the housing crisis — and subsequently having the highest appreciation growth on their home.

According to Zillow, the Houston-area's luckiest homebuyers live in West University Place and purchased their home in May 2007. With a value growth of 71.8 percent, a home purchased at that time for $589,100 is now worth $1,012,300. The area features a value growth rate more than 20 percentage points higher than others included on the list, and the current value of a home purchased in the area in May 2007 is also more than $750,000 higher than any other included area's 'luckiest' current value.

The area's second luckiest homebuyers live in Spring, located north of Houston, and purchased their home in April 2012. With a value growth of 50 percent, a home purchased at that time for $81,000 is now worth $121,500.

Coming in third for the area's luckiest homebuyers are people who live in Jersey Village and purchased their home in January 2006. With a 49.2 percent value growth rate, a home purchased at that time for $168,200 is now worth $250,900.

Other areas included on the list for the luckiest homebuyers were Hockley (No. 4 for homes purchased in May 2012), Cloverleaf (No. 5 for homes purchased in December 2011) and Humble (No. 6 for homes purchased in October 2012). Purchase values in these areas ranged from $87,300 to $114,700 and current values ranged from $120,700 to $165,300.

Nationwide, eight of the Top 10 cities for the luckiest home buyers are in California, led by Palo Alto, with 105 percent growth in value.

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Exceptional elegance

Massive Memorial mansion hits the market at almost $20 million

Aerial photo of 119 Carnarvon Drive. The home is for sale for $19.99 million.

Photo by TK Images for Martha Turner Sotheby's International Realty

An aerial view of 119 Carnarvon Drive captures the home's stunning square footage and grounds.

Timeless elegance meets modern luxury at 119 Carnarvon Drive, a 20-year-old, custom-designed Murphy Mears Architects residence that's located just outside the loop off Memorial Drive. Represented by Kellie Geitner of Martha Turner Sotheby’s International Realty, the home is among the city’s most expensive properties, on the market for $19.999 million.

The seven-bedroom, 12-bathroom home unfolds across more than 16,000 square feet, and is designed for effortless entertaining. It features a formal dining room with French doors, stunning views of the backyard pool and spa from the living room, a media room that is perfect for movie nights, and a ballroom that easily provides space for receptions and soirees.

The kitchen boasts Sub-Zero and Thermador appliances, marble and stainless countertops, exposed beams, and a breakfast area overlooking the landscaped backyard. A separate scullery also features high-end appliances, and the wine room has a wet bar.

119 Carnarvon Drive’s luxe living is apparent from the moment owners and guests cross the threshold into the grand foyer with its 22-foot coffered ceiling, Venetian plaster walls, Lueders limestone flooring, and a striking spiral staircase. The two-story library is also a showplace space, one meant for book lovers or easily converted to an incredible home office.

The primary suite has its own private courtyard, dual spa-like bathrooms with imported marble, and custom walk-in closets. Outdoor living and entertaining spaces include a veranda, lap pool, spa, courtyards, and manicured gardens.

119 Carnarvon Drive is a home meant for welcoming others, even as its owners find it to be a retreat not far from the heart of the city. It’s also a home that must be experienced to be believed. This is gracious living at its finest.

Photo by TK Images for Martha Turner Sotheby's International Realty

An aerial view of 119 Carnarvon Drive captures the home's stunning square footage and grounds.