Lakemont Subdivision (Houston, Cinco Ranch, Richmond: comparable sales, sales, apartments)

[msbiz]

Hi all ---

I was wondering if Lakemont (in Richmond, TX) is an okay subdivision. We checked out a home there over the weekend and our realtor just gave us comps and 10 of the the last 17 comparable sales were foreclosures.

Considering this should we steer clear?

What are your general thoughts on the subdivision?

[RVD26]

I have no idea where this place is, but if any place had that many foreclosures I would stay away.

[usc619]

Originally Posted by msbiz

Hi all ---

I was wondering if Lakemont (in Richmond, TX) is an okay subdivision. We checked out a home there over the weekend and our realtor just gave us comps and 10 of the the last 17 comparable sales were foreclosures.

Considering this should we steer clear?

What are your general thoughts on the subdivision?

It's Just right across(100yds) the tollway from Cinco Ranch w/ a different school dist(Lamar Consolidated). I think it's a good subdivision(zoned to good schools) but some folks seem to think the Schools aren't good enough for their G&T kids As for crime, I don't think any criminal is going to say "Oh dam, I can't get away with this crime across the street" LOL. both are located in unincorporated Ft.Bend county.

[predatorprey]

Lakemont is a nice area, like many newly developed area the lenders were involved in more lower quality loans and thus the foreclosures.

If your interest I'd buy the foreclosed homes since many of them are still in good condition and at a cheaper price.

[westres1]

Didnt they build a massive apaprtment complex near the entrance of Lakemont. If you buy make sure it is not near your home. Not good for resale.

[usc619]

Originally Posted by westres1

Didnt they build a massive apaprtment complex near the entrance of Lakemont. If you buy make sure it is not near your home. Not good for resale.

Yes, there's also some apts. under construction, across the tollway, right in front of the Cinco Ranch entrance. There goes the resale value at Cinco

BTW; the Apts. will have Cinco Ranch name and logo.

[msbiz]

Yes there are also apts near the entrance at Lakemont. I do remember them now and thinking "are those apts".
So, do you think Lakemont is similar to Teal Run (in missouri city) with all the foreclosures?
If so, maybe we should steer clear and go back to looking sienna plantation or lake olympia.

[westres1]

I dont think it is as bad as Teal Run. Didnt lakemont have Perry,weekley and Lennar? Teal Run was more of a Beazer,Legend,Royce neighborhood. If you are really concerned stick to areas with better schools like North Westheimer Lakes which is just down the toll from lakemont.

[Dougishere2]

I have lived in Lakemont for the last 5 years. Yes we did and will still have foreclosures (so does every other community in Houston), I just refinanced my home and the appraised value has increased from 2 years ago. (Perry Home). As far as the apartments with the apartment boom going on every new community with large acrage in front of it is a target to have a complex built in front of it. Lakemont is a good place to live as is a lot of communities.

[pfz1943]

I leased a house in Lakemont for a year, like the neighborhood so well, I purchased the house in December, 2008. Got a great price and a good house. Neighbors are great.