Looking for a good place to invest in. (Houston, Bellaire: foreclosure, homes)

[thedom]

Whats a good place to buy a home in the city.

I am looking to spend around $200k
I am newly married and would like it to be as safe as possible.

I have heard the Heights is a great place to go. Maybe an older fixer upper? Whats a good section to look at?

Any other places other then the Heights?

My plan is to buy an older 1920's home and renovate it(has to be livable as is though) and sell it when my kids are a bit older, so around 8 years.

Thanks

[modster]

$200k won't buy much in the higher demand sections of the Heights, (primarily 77007). Although small fixer uppers can still be had. I did see a foreclosure on Kane street in the 6th ward that looks like a buy for $217,000. That area is pretty hot right now.

You might also look in the Brookesmith section, between Main and 45 and see if there is anything in there that works for you.

If you have your heart set on 1920's vintage, keep Eastwood in mind as well. Eastwood Civic Association As this area seems to be really "turning the corner."

40's vintage bungalows are also available in Lindale Park Lindale Park Civic Club, Houston Texas Which might be an option. As well as Idylwood Idylwood Civic Club + Houston, Texas - Welcome to Idylwood in the near east end.

[thedom]

well 1920's isn't a must. Rather I thought older homes would be cheaper and worth more later.

Thanks for your advice on the other locations I will get to looking into them.

Also, do you suggest HAR.com for searching or something else? I have a realtor, but I really like to search on my own.
Thanks

[jimboburnsy]

You might also consider Willowbend and Westbury. Westbury will be the better value at this point but either neighborhood will have a large inventory of well built older homes that give you an enormous opportunity to build equity through remodeling. My wife and I have lived in Willowbend since July and have no complaints. The neighborhood is safe, quiet and still affordable. The public high school we are zoned to leaves much to be desired, but that will not be a concern for more than a decade. Good luck and happy hunting.

HAR is probably your best bet. I have not compared the listings on the two but you might try realtor.com as well.

[modster]

Stick with HAR.com, it is updated constantly where Realtor.com just pulls from HAR.com about once a week I think.

I think there is a lot of upside to Westbury/Parkwest as well. Westbury south still has a ways to go.

Living in-town for $200k or less in something livable usually dictates either places hugging the outer edge of the loop like Oak Forest, Shepherd Forest, Westbury, Willowbend, Post Oak Manor, Glenbrook, or east of 45 inside the loop, Lindale Park, Eastwood, Houston Country Club, or Idylwood.

[EasilyAmused]

I agree wtih Modster for Eastwood for the 200's. Houston is a big big city, anything close in is growing in value or already costs an arm and a leg.

[thedom]

Thanks so much for all of your suggestions ...I might have missed it...forgive me if I did...I kind of wanted to be inside the loop and on the west....is that possible? I looked at memorial...SUPER beautiful, but unfortunately outside of my price range...cheapest I could find was around $300k...

Thanks again

[houston-nomad]

I don't think you'll find much inside the loop on the west side for 200K (anything big enough for a family, that is). You can still find property on the east side ITL for that price, however. You can do a HAR.com search where you limit the neighborhoods and prices; you'll see pretty quickly what's available.

[Mr. Krinkle]

Originally Posted by thedom

Thanks so much for all of your suggestions ...I might have missed it...forgive me if I did...I kind of wanted to be inside the loop and on the west....is that possible? I looked at memorial...SUPER beautiful, but unfortunately outside of my price range...cheapest I could find was around $300k...

Thanks again

Everything modster listed is inside the loop. You can find places around 200K in all of those area.

[thedom]

How is Bellaire? I have heard it's quite nice...for my money I might get scooted outside the loop, but what do you guys think of it long term? Is it safe?