Where to live - Energy Corridor vs. Katy (Howe: apartments, prices)

[behtypa]

Originally Posted by EasilyAmused

Oh I'm sure Katy will win on the crime per sq. mile note. No doubt about that...for now.

I would agree that your and my opinions may be a bit subjective. And that it would be wiser just to check the crime rates.

[EasilyAmused]

Originally Posted by behtypa

one needs to remove this social class diversity that has established in this area over decades. And it is impossible.

Sorry, I just had to save this quote before it disappears.

Regaurding crime: I meant Katy wins on the lowest psm. Sorry, should have made myself more clear.

As to those apartments: I think they are 40 years old, yet the area appreciates and the schools remain strong.But many in the radius of 77079 are coming to the end of their life cycle and most likely will be demo-ed at some point. So where does the low-income social class go? To the new ones they are building in Katy.

This city is huge. People are just going to have to learn to live with each other.

[cheryjohns]

Originally Posted by behtypa

The short answer is - KATY.

The long answer:

I have lived in 77077 and 77079 areas in the past 3 years. I generally like the area. The estate there is however kind of old (houses built in 70s and 80s) and a bit overpriced (at best 250K will yield you 2000 sq ft 1985 house, and you can buy 3000 sq ft 2000 house in Katy for the same amount).

77079 is an Energy corridor. There are many people with money there (hello, BP, Shell, etc. offices). Many of them are foreigners, they are used to old European house market. They are not as spoiled as us. So they are OK with buying it there. Besides, it's only 5 minutes away from work for them and they will probably move somewhere else 5 years from now anyway.

The problem with this area is that there are many Section 8 (low income) apartments just 1-3 miles around. And many more down Dairy Ashford in Westheimer and Richmond area. And even MORE on Bellaire and Beechnut. These areas are CROWDED with dope, teen gangs and unemployed. Where do they get their money? They go up the street to the "rich" community and rob someone/steel something.

During the 3 years I have lived there we had a robbery at our apartment complex every quarter. Friends told me stories that they got robbed at the LA Fitness or Kroger parking, etc.

It's far not the worst place in the city (hello Greenspoint). But still not very safe. South Katy is safer.

Now, when one buys a house (you are looking for a house, right?) he needs to consider not how these areas look today, but how they probably will look like in 5-10 years from now.

This is hard, I know. But you can predict how the area will develop more or less if you do your homework. I predict that South Katy will have more family-oriented development over the next 10 years than Energy Corridor. Whereas Energy Corridor will have more business office-oriented development. In other words, the Energy Corridor will be less family friendly than South Katy.

That's my 0.02.

There is an apartment complex off Country Place that does look run down - but I don't think they take section 8 - and neither is that zip going to decline.

Real estate has always been about location. That area got built up in the 70's - and there is no more room to build unless you tear down and build new. When you run out of land the price goes up. Look at how land has gone up in the Loop. In 5-10 years, that area will be worth a lot more money than it is now. My guess is those apartments will no longer be there later - someone will offer the owner enough for the land - mow them down and build new homes - large new homes.

Yes, you can get a large house for much cheaper in Katy - there will be a commute instead - at $4 plus a gallon. Everyone has their preferences and priorities - and that's great - but saying this zip is a problem and will decline is not true.

If you need a large house and have a budget of $300K - Katy is the best idea. If your budget is higher, the Energy Corridor is a good idea. Both will appreciate - 77079 will just appreciate much more.

It also is made up of a lot of American citizens, not just foreigners on an oil company contract.

It is not going to have a lot of business developement - unless you can float the buildings in the sky.

[EasilyAmused]

I have to say the Foreigner thing threw me. Around me it's almost all Americans, most of which grew up in the neighborhood and returned to raise their families.Maybe it's different over by Fleetwood.I know lots of Brits live at BP's backdoor. Latley,I seen those that lived inside the loop, and were DIE HARD LOOPERS, cave and go semi-urban to raise a family.

As to Oil people only, and on working in the EC only, nope not true. Many work Downtown and the Galleria for various types of different industries. Not to mention Memorial Herman is growing. Schools, larger lots, and mature trees/neighborhoods drive families to this area, just like they do out to Katy.

Anyway, both are good area, I just thought this way a strange view of the Energy Corridor. Some truth to some of it, other stuff is off base.

[behtypa]

Originally Posted by cheryjohns

If you need a large house and have a budget of $300K - Katy is the best idea. If your budget is higher, the Energy Corridor is a good idea. Both will appreciate - 77079 will just appreciate much more.

Besides "cons", there is however one "pro" to the basket of an Energy Corridor area: the taxes are lower than Katy. 77079 generally has 2.2-2.4 whereas Katy has 2.7-3.2.

[EasilyAmused]

Originally Posted by behtypa

Besides "cons", there is however one "pro" to the basket of an Energy Corridor area: the taxes are lower than Katy. 77079 generally has 2.2-2.4 whereas Katy has 2.7-3.2.

Ehhh, more like 2.7ish-2.9 in 77079.

[behtypa]

Originally Posted by EasilyAmused

Sorry, I just had to save this quote before it disappears.

Regaurding crime: I meant Katy wins on the lowest psm. Sorry, should have made myself more clear.

As to those apartments: I think they are 40 years old, yet the area appreciates and the schools remain strong.But many in the radius of 77079 are coming to the end of their life cycle and most likely will be demo-ed at some point. So where does the low-income social class go? To the new ones they are building in Katy.

This city is huge. People are just going to have to learn to live with each other.

Let's hope the economy will get better and real estate prices will rise and not decline like last few years. In this case your prognosis may be correct, and, say, in 5-10 years, the 77079 area will slowly turn old apartments into something else.

However I am not as optimistic about the US economy and IMO the housing will go down even more or at least run a fever for quite a while.

It takes a lot of money and time to change the area. If that much money is nowhere near, the whole area will stop changing. At least for a while.

But then, I guess, Katy may stall even more, with higher foreclosure rate. Who knows...

[behtypa]

Originally Posted by EasilyAmused

Ehhh, more like 2.7ish-2.9 in 77079.

Last time I checked it it was real low, something like 2.3-2.4. It changed?

[Lost_In_Translation]

Originally Posted by EasilyAmused

Ehhh, more like 2.7ish-2.9 in 77079.

SB is 2.66 for me.

[Lost_In_Translation]

Originally Posted by behtypa

Last time I checked it it was real low, something like 2.3-2.4. It changed?

I imagine. Government gets more expensive all the time.