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    Love this listing

    Texas palace graces market at $60 million as state's most expensive listing

    John Egan
    Jun 2, 2022 | 11:45 am
    The ornate chandelier.
    The ornate chandelier.
    Image courtesy of Icon Global

    A Texas estate fit for a queen or a billionaire is being marketed for $60 million, making it the most expensive residential real estate listing in the state.

    The main house of the chateau-inspired Lodge in Hunters Creek, adjacent to the Buffalo Bayou and Houston Country Club, encompasses a whopping 22,000 square feet. The nine-acre estate is in Houston’s wealthiest ZIP code.

    The listing went on the market last year, but without an asking price. Recently, Dallas-based Icon Global revealed the $60 million list price.

    “Our client has recently instructed that the estate be sold on the open market with the list price now that we are well through the pandemic,” says Bernard Uechtritz, owner and founder of Icon Global. “The estate’s size, price, and amenities put this property in the front row of first-class properties offered nationwide and is among the very best available in the country. It is certainly the crown jewel of the Texas marketplace.”

    Formerly known as the Romanov Estate, the property includes a 3,500-square-foot guest home and additional staff quarters. Among the highlights are a wrought-iron elevator, chandeliers, carved mahogany staircases, and space for as many as seven cars.

    Completed in 2005 after six years of construction, the tree-shrouded estate — built of steel, concrete, and Indiana limestone — is designed in the Richardsonian Romanesque style. It features aspects inspired by the Biltmore Estate in Asheville, North Carolina, and the Hearst Castle in San Simeon, California.

    The interior includes architectural elements chosen by the current owner and shipped from Belgium, England, France, and Italy.

    “As an architect doing work for over 35 years across the United States and in several other countries around the world, I will tell you that the [estate] … is one of the most extraordinary houses anyone may ever see,” architect Ken Newberry, who was hired to design the estate, says in an Icon Global news release.

    In 2016, the estate hosted the Bayou Preservation Association’s 50th anniversary soiree.

    Icon Global shared few details about the estate, including its address. The cul-de-sac property, being marketed to ultra-high-net-worth individuals, sits behind security gates and is equipped with other security measures.

    “Given the likely profile, privacy, and security requirements of a prospective new owner, we are only providing detailed interior and other amenity specs to vetted, approved, and invited prospects or brokers on a case-by-case basis,” Uechtritz says.

    Anyone who tours the property must first sign a confidentiality agreement.

    Uechtritz calls the estate “one of the most expensively built, tasteful, and well-designed compounds ever built in Texas or nationally for that matter … .”

    Nestled in a wooden wonderland.

    Lodge in Hunters Creek Houston
    Image courtesy of Icon Global
    Nestled in a wooden wonderland.
    home-for-sale
    news/real-estate
    news/home-design

    housing news

    This is how much longer Texans must save for a home than in 2016

    Amber Heckler
    Jul 6, 2026 | 2:25 pm
    House fund jar
    Photo by Sandy Millar on Unsplash
    It would take 7.2 years for Texans making the state's median household income of $84.084 to save enough money for a down payment on a house in 2026.

    It's no secret that purchasing a home in 2026 has become an ever-shifting financial goalpost that requires a lot more money than it used to. And a new study has just revealed it takes 9 months longer for Texas residents to save for a down payment than it did a decade ago.

    SmartAsset's new report, "Where the Down Payment Burden Has Grown Most," analyzed typical home values in each state in 2016 and 2026, and compared them with median household income to estimate how many years of savings would be required to afford a 20 percent down payment (based on the assumption that households set aside 10 percent of their annual income). The analysis also evaluated how long a minimum-wage earner in each state would need to save for a down payment in 2026.

    For Texas households making a median income of $84,084 in 2026, it would take 7.2 years to save enough money for a down payment on a house with the state's typical home value of $302,187.

    In 2016, it would have taken a little less than 6.5 years based on a median household income of $56,565 and typical home values at $181,155.

    Texas ranks 41st nationally in SmartAsset's comparison of states with the highest increases in the amount of time needed to save for a down payment from 2016 to 2026. The report's findings proved how "saving for a down payment has become a moving target" for many Texas residents and Americans as a whole.

    "As rising home prices outstrip wage growth, the amount of time buyers may need to set aside enough money has changed sharply in many parts of the country," the report said. "In some states, rising incomes have helped offset higher home values. In others, buyers may face a substantially longer path to ownership than they did just one decade ago."

    Homebuying prospects for minimum wage earners
    For a minimum wage earner residing in Texas, it would take 40.1 years to save enough money for a down payment at current home prices. Texas and 19 other states have a $7.25 hourly minimum wage, which amounts to just over $15,000 a year.

    SmartAsset further confirmed that it's "essentially impossible" to save for a down payment on a minimum wage income alone regardless of which state you live in.

    "Even in Missouri, the most favorable state, a minimum-wage earner would need 17 years to save enough for a home down payment," the report added. "In Utah, that timeline exceeds 70 years."

    The top 10 states where the "down payment burden" has grown the most are:

    • No. 1 – Idaho
    • No. 2 – Rhode Island
    • No. 3 – New Hampshire
    • No. 4 – Maine
    • No. 5 – Utah
    • no. 6 – Montana
    • No. 7 – Washington
    • No. 8 – New Jersey
    • No. 9 – New York
    • No. 10 – Massachusetts
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