Westside Real Estate Market (Houston, West University Place: apartment complexes, condos, townhomes)

[jerbear30]

I'm talking specifically about the area bounded by I-10 to the north, Beltway 8 to the east, Westheimer to the south and highway 6 to the west. I'm interested to hear from people who have any insights about this area, especially in the real-estate market. It's not too far from work downtown (about 13-16 miles compared to 19-20 for most suburbs), the schools are generally good and the awesome Terry Hershey trail runs through it. And after all these things, it's pretty affordable, notwithstanding the area zoned to Stratford HS (lots of nice updated ranch homes in HISD zone in the mid-upper 200s and nice updated condos in the upper 100s). I like it for a lot of reasons, but it doesn't get a lot of hype. Why not?

[bronstew]

The area has appreciated like crazy in the past few years. The question is whether the appreciation will continue, level off, or decline. A seasoned real estate agent could probably offer some insight on that one. Barbara Bush is an exemplary school. There is also Wolfe Elementary--not as highly ranked but I have heard good things. And then of course you have SBISD, and the elementary schools in that district vary, but are all generally well regarded. At the moment, you will be very hard-pressed to find a decent-sized house with a decent yard zoned to any of these schools under $450K. This area can no longer be considered cheap, imo.

I would say the lack of hype stems from the fact that the area is largely made up of families. It's a close-in suburb that appeals to many people with kids. The young singles are all further east.

[gwarnecke]

That's a pretty broad area. A few observations:
-Has appreciated a lot, just like the rest of Houston. The east side of 77079, zoned to SBISD, seemed to hit a steep appreciation trajectory before most of the city. Likely correlated with boom in O&G hiring over the last few years. As more and more families have been priced out of east 77079, west 77079 (zoned to KISD) and 77077 (zoned to some of HISD's better schools) have enjoyed lots of spillover appreciation.
-Lots of teardown activity in east 77079, essentially none in west 77079 or 77077.
-Even more so than the rest of Houston, the area's fortunes are tied with those of the O&G industry - the Energy Corridor is right in the midst.
-Traffic on I-10 in both directions gets worse and worse, as Katy booms and the inner loop gets redeveloped. As long as the Energy Corridor stays strong, I see values in this area continuing to strengthen as people increasingly see the value of being close to work. I work in the EC, and moved here from West University Place after seeing my average commute times jump from 20 minutes to 35-40 minutes in less than three years. Lovin' the 7 minute commute, and being able to bike to work if I so choose (thanks to Terry Hershey Park).
-On the other hand - I wouldn't consider the area especially appealing to those who work downtown. 13-16 miles is still a looong commute, and once you're driving that far you might as well drive a little further and get a significantly nicer home for your $ out in Katy.
-Lots of iffy apartments in this area have affected property values, especially near Kirkwood and Westheimer/Briar Forest. Many complexes in 77079 have been torn down in the last couple of years to be redeveloped with new upscale apartments and townhomes, although this trend hasn't really spread south to 77077 yet.
-The Long Point Fault runs diagonally through both zip codes. Something to be mindful of if you're looking hard at the area.

[Vicman]

Originally Posted by gwarnecke

Lots of iffy apartments in this area have affected property values, especially near Kirkwood and Westheimer/Briar Forest. Many complexes in 77079 have been torn down in the last couple of years to be redeveloped with new upscale apartments and townhomes, although this trend hasn't really spread south to 77077 yet.

In another thread I made a list of the apartment complexes within the Westside High School zone. It would be interesting if someone determined which ones are okay and which ones need intervention from the community.

[LocalPlanner]

Originally Posted by Vicman

In another thread I made a list of the apartment complexes within the Westside High School zone. It would be interesting if someone determined which ones are okay and which ones need intervention from the community.

I think apartments near the intersection of Briar Forest and Eldridge may actually be improving - including the older ones. Rents keep increasing. I notice a large number of South Asian workers coming from the older complexes along the southern portion of Enclave, which I used to think were getting sketchy.

[Vicman]

Originally Posted by LocalPlanner

I think apartments near the intersection of Briar Forest and Eldridge may actually be improving - including the older ones. Rents keep increasing. I notice a large number of South Asian workers coming from the older complexes along the southern portion of Enclave, which I used to think were getting sketchy.

Good to hear! What about Briar Forest at Wilcrest? That is also in the Westside zone.

[LocalPlanner]

Originally Posted by Vicman

Good to hear! What about Briar Forest at Wilcrest? That is also in the Westside zone.

I haven't really studied them, but my sense is that the Kirkwood and Wilcrest-area complexes aren't any better or worse than they had been (though better than in the early post-Katrina days).

The Lakeside single family areas have been experiencing appreciation. I would have to think there could be opportunities for taking acquiring some of the complexes, demolishing them, and doing some high-end gated communities catering to either households without children or those who could afford private school (apparently Revere MS doesn't have a great reputation).

[Vicman]

Originally Posted by LocalPlanner

The Lakeside single family areas have been experiencing appreciation. I would have to think there could be opportunities for taking acquiring some of the complexes, demolishing them, and doing some high-end gated communities catering to either households without children or those who could afford private school (apparently Revere MS doesn't have a great reputation).

Revere MS does not have a great reputation. Its white and middle class families left after West Briar opened. The Walnut Bend, Askew, and Ashford areas zoned to Revere MS have an option for West Briar MS, so parents may send their kids to West Briar instead.