Do you expect the housing prices go up, stay the same or go down in 2015? (Houston: university, oil)

[ToyYot]

Generally, no, and it's not zipcode based is school zone based. Therefore the value of property in Houston is tied to location AND the perception of the zoned public schools.

Here's a handy cheat sheet for SBISD schools.

http://cms.springbranchisd.com/maps/...9/Default.aspx

Basically, in terms of resale value, houses zoned to schools that feed into Stratford or Memorial are worth more than those that aren't. Then, anything south of the I-10 is generally more desirable than north.

Individual school zoning maps here:

http://cms.springbranchisd.com/maps/...7/Default.aspx

[travelguy_73]

Originally Posted by pawtucketpatriot

What do folks think about areas inside or just outside the loop. From my research (I'm considering a move), Bellaire and West U will be fine regardless, but what about Meyerland, Westbury, Willowbrook/Willow Meadows and Maplewood. Will places like Meyerland in the Bellaire HS district hold their value better? Actually a small pullback would be helpful as our budget is $500K, stretch to $550K, which buys a house in Meyerland, but not an updated one.

Thanks

Long-term, this area is solid for appreciation. I can't think of a scenario other than a natural disaster (flooding) that would change that.

We just bought a home in that area, and I can comfortably say we paid a premium for it (had just been gutted and redone), and thankfully we sold our old one for a premium as well, so it's a wash. My gut tells me that prices won't go down as there's enough demand out there still to keep them up, but won't continue their fast upward movement. If the volume of houses on the market goes up, there's more pricing power by buyers. They aren't building any more neighborhoods being built, so volume is resale (including teardowns).

Since spring/summer are the time when there are more houses on the market, we will find out as we watch the Days on Market! People are continuing to test the market with higher and higher prices, and so if those homes sit longer, we will have our answer.

[houston-nomad]

Originally Posted by travelguy_73

Long-term, this area is solid for appreciation. I can't think of a scenario other than a natural disaster (flooding) that would change that.

We just bought a home in that area, and I can comfortably say we paid a premium for it (had just been gutted and redone), and thankfully we sold our old one for a premium as well, so it's a wash. My gut tells me that prices won't go down as there's enough demand out there still to keep them up, but won't continue their fast upward movement. If the volume of houses on the market goes up, there's more pricing power by buyers. They aren't building any more neighborhoods being built, so volume is resale (including teardowns).

Since spring/summer are the time when there are more houses on the market, we will find out as we watch the Days on Market! People are continuing to test the market with higher and higher prices, and so if those homes sit longer, we will have our answer.

Yeah. Plus, any home that hasn't been remodeled goes straight to flippers-- so most houses sell for a premium because realtor makes sellers make improvements/remodels before listing. This is keeping prices high. Is this true in other neighborhoods? I hadn't seen this so common in other places I've lived (outside Houston).

[pawtucketpatriot]

Originally Posted by travelguy_73

Long-term, this area is solid for appreciation. I can't think of a scenario other than a natural disaster (flooding) that would change that.

We just bought a home in that area, and I can comfortably say we paid a premium for it (had just been gutted and redone), and thankfully we sold our old one for a premium as well, so it's a wash. My gut tells me that prices won't go down as there's enough demand out there still to keep them up, but won't continue their fast upward movement. If the volume of houses on the market goes up, there's more pricing power by buyers. They aren't building any more neighborhoods being built, so volume is resale (including teardowns).

Since spring/summer are the time when there are more houses on the market, we will find out as we watch the Days on Market! People are continuing to test the market with higher and higher prices, and so if those homes sit longer, we will have our answer.

Thanks much. This area seems to fit me much better than the outer burbs. Just curious: do these neighborhoods typically have HOAs and such? I know they're the norm in Houston, but rules dictating the length of my lawn and whether my car can overlap a sidewalk bug me on principle. (My lawn is neat, and my house kept up, but busy bodies bother me).

[rjj42]

Originally Posted by ToyYot

Generally, no, and it's not zipcode based is school zone based. Therefore the value of property in Houston is tied to location AND the perception of the zoned public schools.

Here's a handy cheat sheet for SBISD schools.

http://cms.springbranchisd.com/maps/...9/Default.aspx

Basically, in terms of resale value, houses zoned to schools that feed into Stratford or Memorial are worth more than those that aren't. Then, anything south of the I-10 is generally more desirable than north.

Individual school zoning maps here:

http://cms.springbranchisd.com/maps/...7/Default.aspx

Thanks very much! I really appreciate the help.

[Hifromhere]

How will the energy Corridor area fair the low oil prices? Think housing pricing will go down? When do you think we will see that? I am talking about neighborhoods like Country Village, Briar Forest, Reflections, Briar Village and Briar Hills.

[chris_ut]

The price of oil fell to $35 in 2008 so it doesn't take a crystal ball to see possible effects of a price bust just look back at 2008.

[rjj42]

Originally Posted by chris_ut

The price of oil fell to $35 in 2008 so it doesn't take a crystal ball to see possible effects of a price bust just look back at 2008.

What exactly happened in 2008 when the price of oil fell?
I moved to Houston in 2010 so I missed that whole scene.

[EasilyAmused]

Originally Posted by rjj42

What exactly happened in 2008 when the price of oil fell?
I moved to Houston in 2010 so I missed that whole scene.

The satellite burbs stalled then dropped a little. building stopped. After two years building took off and appreciation began.

The close in burbs stalled, the took off at a fast pace of appreciation within a year. Forgotten close in suburbs began gentrifying within two years, then appreciating.

The ITL stalled, then took off at a fast pace of appreciation within a year.

[rjj42]

Originally Posted by EasilyAmused

The satellite burbs stalled then dropped a little. building stopped. After two years building took off and appreciation began.

The close in burbs stalled, the took off at a fast pace of appreciation within a year. Forgotten close in suburbs began gentrifying within two years, then appreciating.

The ITL stalled, then took off at a fast pace of appreciation within a year.

Interesting.
What places are considered to be the 'satellite burbs' and what areas are considered to be 'close in burbs'?
I'm assuming that the ITL areas are probably the areas around West University and Montrose/Upper Kirby? Please correct me if I'm wrong. Thanks...