77079 - overconfident? (Houston, Spring, Katy: mortgage, how much, houses)

[geopainter]

Originally Posted by BDFP

As long as they keep building more office space along the I-10 I think it will be a competitive market. Who wouldn't want to live in a great neighborhood 5-10 mins from work?

The residential development potential south of the I-10 is pretty limited, there just isn't room for any more houses. But there are a couple of apartment complexes around that might get demolished. Apparrently the one on Dairy Ashford just south of Memorial is slated for demo soon with some high end townhouses replacing them. Some in this forum have mentioned commercial property owners are waiting for the Memorial road widening project to be completed prior to planning any major changes to their properties. I think that's about 5 years away, Kirkwood resurfacing is next.

An oil price crash would hurt of course but then there's this:

Saudi oil well dries up – Telegraph Blogs

Which complex on D.A. is scheduled for demolishion? - Wisteria Gardens? That's the only one i can think of just south of Memorial. i wouldn't mind if some of the junkier complexes just down the road in 77077 were removed. With the fast market in 77079, a lower-cost alternative (for essentially the same era/quality houses) is in 77077 - yes, HISD instead of SBISD, but zoned to some of the better HISD schools. I live in 77077 - haven't seen any tear-downs yet, but wonder if they're coming.

Along the lines of this thread, when we were looking for a house in 2010 in 77079, you could maaaybe sneak in for 300k, but those houses had original 1970's kitchens, weren't on the best streets, and needed a lot of other work. We went with a renovated house in 77077. Now, 2 1/2 yrs later, those same old houses that need help in 77079 are 400k+! Kind of wish we'd pushed our budget and suffered a bit of dust and demo to get in on the appreciation!

[ToyYot]

Yep, those be the ones.

[EasilyAmused]

Great news. Now if some of the ones around Tully would meet a dozer......

[cheryjohns]

Originally Posted by EasilyAmused

Great news. Now if some of the ones around Tully would meet a dozer......

I know. That land is too valuable for those. I can't get over the Spinaker, which are condos, but really low end, both in price and condition. The apartments in that vicinity have been high in crime - bad management, very little checking, etc. It just doesn't make sense that they are still there.

[Glossa]

Originally Posted by EasilyAmused

Great news. Now if some of the ones around Tully would meet a dozer......

I agree. Those are an eyesore. I wonder how that works, though. I would think the price would have to be very high to convince the apartment complex owners to give it up. I'm trying to imagine how many single-family homes would fit in the space of the apartments that are closer to the Nottingham west neighborhood. Ten, maybe?

[Wldgstanglewood]

Originally Posted by Glossa

I agree. Those are an eyesore. I wonder how that works, though. I would think the price would have to be very high to convince the apartment complex owners to give it up. I'm trying to imagine how many single-family homes would fit in the space of the apartments that are closer to the Nottingham west neighborhood. Ten, maybe?

They could fit a ton of Garden Homes, like ones in 77055, in those spaces. 4,000 sq ft lot, 4000 sf homes priced at 750,000 and up.One really doesn't need a yard with Nottingham Park and Terry Hersey around.

I remember visiting the area in the late 1980's, and those apartments were bad then. There are a few on Yorktown, Uptown area, that should meet some big equipment too.

[EasilyAmused]

Acres upon acres in that area. Brownstones could even work. They seem to be selling pretty well at CityCentre, yet for 800k I couldn't imagine sharing a wall. Not in this town at least

[LizzySWW]

Wisteria Gardens has 120 apartment units, I'm guessing that probably amounts to about 200 students leaving Nottingham Elem. This is unfortunate for those low income kids who were able to attend a school in a nice neighborhood, but there's no doubt it will boost Nottingham Elem scores/ratings with high income families taking their place.

I have a good feeling home prices in Nottingham Elem zoned schools will soon reflect this change in a $$ good way. So now might be a good time for families with very young children who want Meadowood Elem, but are priced out of the better sections of Nottingham Forest, to buy in a Nottingham zoned house for less money.

[Lost_In_Translation]

Originally Posted by cheryjohns

I know. That land is too valuable for those. I can't get over the Spinaker, which are condos, but really low end, both in price and condition. The apartments in that vicinity have been high in crime - bad management, very little checking, etc. It just doesn't make sense that they are still there.

Just read that the princeton apts have been purchased and are slated for redevelopment. Now is definitely the time to buy into Nottingham Elementary zoned neighborhoods.

[EasilyAmused]

Originally Posted by Lost_In_Translation

Just read that the princeton apts have been purchased and are slated for redevelopment. Now is definitely the time to buy into Nottingham Elementary zoned neighborhoods.

Do you have a link? Redevelop could mean
a makeover or the dozer