The market explosion in 77079 (sale, house, buyer)

[Shipresa]

I agree with Houston Parent. We looked at 77079 area in 2010, and in 2014 started looking there again (having decided to not buy in 2010)...and are kicking ourselves.

I'm from Vegas. I don't see the EC areas as a bubble. Stock is low, expansion is not possible, and I'd see no reason why it would burst. Too many advantages (mostly location) to the area.

Even so, we STILL are considering that area, knowing we'll pay 30-40% more than if we did in 2010.

[waterdamaged]

Originally Posted by Shipresa

I agree with Houston Parent. We looked at 77079 area in 2010, and in 2014 started looking there again (having decided to not buy in 2010)...and are kicking ourselves.

I'm from Vegas. I don't see the EC areas as a bubble. Stock is low, expansion is not possible, and I'd see no reason why it would burst. Too many advantages (mostly location) to the area.

Even so, we STILL are considering that area, knowing we'll pay 30-40% more than if we did in 2010.

Well, the values could depreciate a slight bit whenever the boom decides to end, but it'll still be a net gain from when it started. That really doesn't qualify as a bubble, but prices will likely fluctuate a small amount.

[Memorialite]

It is not a bubble because almost every home is bought by a family with long term plans, not investors looking to flip. Add to that all the memorial & Stratford HS grads who would give an arm and leg before moving anywhere else to raise their own families.

Then read all the traffic complaints here & look at the additional office towers going up along I-10 and the beltway. 5 years from now YOU will be the one glad you bought in 2014.

[PinkLadyK]

Everyone is this thread is invited over for margaritas once we move in.

[ToyYot]

Originally Posted by PinkLadyK

Everyone is this thread is invited over for margaritas once we move in.

OK, now I have to post something!

Welcome to the hood!

[mcmummy]

Originally Posted by PinkLadyK

I can't believe we're about to spend as much money on a house as we are, but I keep checking and there are just so few available zoned to Wilchester or Rummel Creek. Someone put my mind at ease that 77079 is not experiencing a bubble, and that if we pay a ridiculous amount for a house with no updates and spend some money updating, we aren't going to be underwater (or at the same price point) in 5 or 10 years. No plans to sell, but just in case . . .

Lie to me if you have to. I need sleep.

Everyone who lives in the area at first feels the exact same way!!!! You are not alone! I bought in almost 10 years ago and intitially felt buyers remorse. We debated between Katy and 77079. We were almost swayed by the media room, the big fancy house in Cinco Ranch. I am so glad we did'nt buy there. My commute would have been horrible, the schools are too big there. Wilchester and Rummel Creek are small- well in comparison to Katy schools

The house I bought was upgraded but of course not upgraded in the manner I would like. They put new formica on, cultured marble in the shower, etc. I would have much rather a non upgraded house at a better price.

10 years later-- I know it was the best decision I ever made.
You will get a good solid appreciation.
They aren't making more land. The land will keeping going up and up.
The schools will always be good- therefore will always attract buyers and you will always be able to sell your house in a reasonable amount of time if it is priced correctly.

It is a sound investment.

I'm not lying-- rest easy. People stay here forever!! That says something about this hood-- they move within the hood. They grow up here, go away and then they move back! This is an awesome area!!!!
I would like to add that I had a friend who had to relocate to Dallas for about 2 years. Sold her house, did well in 2009, came back and was like-- I have to pay what to live in this area??? Another friend sold April of this year FSBO, multiple offers, not really upgarded and she is now regretting not renting it out. She thinks if they move back she wont be able to get back in.

[gwarnecke]

To all of the previously-mentioned factors affecting 77079 appreciation (great schools, proximity to energy jobs and City Center, Terry Hershey park, etc) I'd like to add two more:

-Traffic on I-10 is getting worse in both directions, as the suburbs keep pushing west and the inner loop gentrifies and densifies. I predict that more people who work in the Energy Corridor will get fed up with the commute and will do what they can to move as close as possible to the office - especially since the area is also so family-friendly.

-77079 itself is getting lots of upgrades - parts of the zip code should be scarcely recognizable 10 years from now. Lots of high-end office construction in the area, a big upgrade to Memorial Drive is coming soon, older apartments are being razed and replaced with upscale townhomes, MD Anderson is building a new campus next to the Addicks Park and Ride, and the old ExxonMobil Chemical complex is getting a $1 billion City Center-like redevelopment.

Welcome to the neighborhood, you'll like it here.

[civil_process]

This site says this area's average household size is 2.6. That was always what kept us away from there: a lack of children. The other zip code, 77077 household size = 2.2. Seems to be a disconnect with what people claim vs what this site says. Also my company, and a few others are now doing layoffs while others have a hiring freeze. Many are hiring like crazy too but there has been information going around showing many of these companies have been built up like houses of cards. The next 12-24 months are going to be very interesting to say the least.

[ToyYot]

Lack of children???

[EasilyAmused]

Lack of children? Lol. They are EVERYWHERE.