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Gaut Appraisal Blog

Bishop Hills TX Real Estate Market & Appraisal Area Focus
February 27th, 2013 6:43 PM

Located just northwest of Amarillo, nestled in a beautiful canyon, Bishop Hills, Texas embodies a community spirit that is like no other small town; each year during the holiday season the residents come together to plan, create and execute a unique Christmas lights display throughout the town. Residents pitch in to help each other with installing lights in their homes and yards, with more than 50% of residents participating. Many of the local activities throughout the year encompass the spirit of the community and support the needs of children and families. Strong community values like patriotism and faith are displayed openly along the canyon walls in the form of a lighted cross, along with the American and Texas flags.

Bishop Hills TX Appraisal
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Bishop HIlls Housing Description

Bishop Hills sprang up in the early 1960s, when Maggie Bishop deeded three tracts of land to Ferrin Enterprises. These tracts are part of the total four units that make up the Bishop Hills housing community. Under the management of Ferrin Enterprises, two of the tracts consist of a swimming pool, golf course and recreational club house located among the attractive homes nestled in the rustic surrounding landscape.

Todd Webb of Benchmark Construction Company has developed and constructed homes in the third and fourth tracts of land. Bishop Hill was incorporated in 1996, and current total land acreage is just over 170 acres. Developers have concentrated on building homes with unique designs at different elevations along the canyon walls, offering stunning views and serene sunsets. According to the 2000 census, the population of Bishop Hills consists of 210 persons.

Real Estate Profile of Residential Community

This tranquil upscale community, considered a part of the Amarillo Texas Metropolitan Statistical Area, offers a median home or condo price as of 2009 of just slightly over $200,000 compared to a median home price in Texas of just over $125,000. According to current city data, housing density is 280 homes per square mile, and most own their homes compared to renting, which is only 3% of the total occupants.

Median rental asking price was slightly over $2500 for 2009. Nearly 3/4 of the residents own homes outright without a mortgage and have an average household income of just over $70,000 per year. Data gathered from 2009, shows average monthly housing cost to be $1269. The 53 of the total 217 homes are occupied by two person families, 99% of homeowners speak English and 100% are naturalized citizens. The majority of homes range from 5 to 7 rooms and have 3+ bedrooms. The median travel time to work is less than 30 minutes, with most working in a nearby county. Most male and female residents aged over 25 (89.3%) have a high school or college degree. Just over 75% of the population over 15 years old are married.

The nearest city is Amarillo, Texas, which is less than 3 miles away. The unemployment rate for 2012 was only 5.9%, while most are employed in health care, retail, high tech and manufacturing jobs. There are three medical centers within a mile of Bishop Hills. Amarillo College and West Texas A&M University are within 8 miles and 20 miles, respectively, along with several major colleges like Texas Tech within a 150 mile range.

The air quality is significantly better than average of other US cities, and the temperatures range from a low of 20 degrees in winter to a high of just over 90 degrees in the summer. Most residents voted Republican in the latest Presidential election and the majority are Southern Baptist, Catholic and United Methodist.

Bishop Hills, Texas Profile Stats
Village of Bishop Hills

Amarillo TX Appraisal CompanyJohn B. Dudley, SRA is an SRA-designated commercial and residential appraiser, with 35 years experience. serving the Texas pandhandle, including Amarillo TX Canyon TX Hereford TX Pampa TX Dumas TX Panhandle TX Borger TX Claude TX Dalhart TX Friona TX.
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Posted by John Dudley on February 27th, 2013 6:43 PMPost a Comment

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