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11-04-2009, 01:20 PM
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Member
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Join Date: Nov 2009
16 posts, read 4,527 times
Reputation: 15
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Moving: Dallas -> Houston
Hi there everyone! I have a question that I hope you all can help me out with. I currently live in Dallas, and am relocating back to Houston in the early quarter of next year.
My budget is only $130,000 but I want to live in the city. I used to love Montrose but it's gotten so upscale it's hardly recognizable. Not to mention WAY out of my price range!
So where do I go? I was thinking the south, like 288 and Southmore (77004) or the East End (77023). I have also hear rumors that Inwood is up-and-coming.
I'm not afraid to live in a not-so-nice neighborhood, but I don't want to fear for my life either. I have a husband, two dogs and no kids.
Where is everyone that's gotten displaced from those upscale neighborhoods?
I thank you all for your help in advance and I look forward to hearing from all of you.
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11-04-2009, 03:20 PM
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Real Estate Agent
Status:
"Protect your pets in this cold!!!"
(set 7 hours ago)
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Join Date: Feb 2009
Location: Pearland/Heights
366 posts, read 151,800 times
Reputation: 109
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77004 has it's good spots. 130k could possibly get you a semi-fixed up home in the good part. It can be a sketchy area, but it has TONS of potential.
You could also try 77009, maybe a fixer-upper in Brookesmith or Lindale Park. Both inside the loop and near the Heights.
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11-04-2009, 03:29 PM
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Member
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Join Date: Nov 2009
16 posts, read 4,527 times
Reputation: 15
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Yes, I was looking up there too. I don't mind a "fixer-upper", I had planned on that with that kind of a price range. I am looking forward to fixing it up myself because then I can have it just the way I like it!
A huge problem that I'm running into is that I need three bedrooms. I can find plenty with two bedrooms, but three bedrooms is difficult.
Is there any particular part of the 77004 is especially bad or good? Intersections?
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11-04-2009, 03:42 PM
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Real Estate Agent
Status:
"Protect your pets in this cold!!!"
(set 7 hours ago)
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Join Date: Feb 2009
Location: Pearland/Heights
366 posts, read 151,800 times
Reputation: 109
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Quote:
Originally Posted by serenakitty
Yes, I was looking up there too. I don't mind a "fixer-upper", I had planned on that with that kind of a price range. I am looking forward to fixing it up myself because then I can have it just the way I like it!
A huge problem that I'm running into is that I need three bedrooms. I can find plenty with two bedrooms, but three bedrooms is difficult.
Is there any particular part of the 77004 is especially bad or good? Intersections?
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A lot of the older homes in 77004 and 77009 where small little bungalows, 800-1100 sq ft. There are some 3 bedroom homes, but they will be much more expensive or in terrible condition. To the point where you won't be able to get financing.
Financing is another issue you need to consider, if you are going through FHA, some of these fixer-upper will not qualify. If you do conventional, it can still get tough, but there is more rooms to work with.
77009-Stay as close to 45 as possible, away from Hardy Rd.
77004-The areas around Southmore are nice. It can get rough the more south you go or closer to Cullen you are.
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11-04-2009, 04:31 PM
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Member
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Join Date: Nov 2009
16 posts, read 4,527 times
Reputation: 15
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Yes, our mortgage consultant mentioned that as well. I do need financing so it must meet FHA standards, but other than that I am unconcerned about the condition. I'm looking for good bones and a workable lay out.
Those specifics help A LOT, thanks so much.
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11-04-2009, 05:08 PM
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Beltway Brat
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Join Date: Dec 2007
Location: Houston-Memorial & Cherokee County
4,822 posts, read 3,248,278 times
Reputation: 1017
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You need to look for the poster Modster on these areas.
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11-04-2009, 05:10 PM
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Senior Member
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Join Date: Apr 2007
9,816 posts, read 7,557,518 times
Reputation: 2131
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Where do you live in Dallas - or where did you want to live in Dallas?
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11-04-2009, 08:07 PM
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Real Estate Agent
Status:
"Protect your pets in this cold!!!"
(set 7 hours ago)
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Join Date: Feb 2009
Location: Pearland/Heights
366 posts, read 151,800 times
Reputation: 109
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Quote:
Originally Posted by serenakitty
Yes, our mortgage consultant mentioned that as well. I do need financing so it must meet FHA standards, but other than that I am unconcerned about the condition. I'm looking for good bones and a workable lay out.
Those specifics help A LOT, thanks so much.
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Given you are going through FHA, I suggest you have a good talk with your lender about how strict FHA is. It will save you lots of headaches in the long run.
Most fixer-uppers will not qualify for FHA  At least not without repairs.
Unless you find a good home that just needs upgrades. Meaning; no roof repairs, electrical repairs, a/c repairs, window repairs. It's very possible, but it's better to be realistic from the get-go. |
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11-07-2009, 09:14 AM
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Member
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Join Date: Nov 2009
16 posts, read 4,527 times
Reputation: 15
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Right, good bones.
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11-08-2009, 07:44 AM
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Real Estate Agent
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Join Date: Oct 2009
Location: Katy Texas
69 posts, read 17,650 times
Reputation: 16
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If you find a good floor plan that you like, but the house needs a lot of work, you can still go FHA financing, thru a 203K loan, talk to your lender about that.
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