Realtors: Are well located innerbeltway homes recession proof?

[testmo]

Id buy an investment property in robindell before Sharpstown proper although they are much the same. Lots of upwardly mobile young families are buying and renting there. Homes tend to be nicer and larger than original homes in garden oaks oak forest.

Meyerland and neighboring areas are well over 350k for typical near move in ready home. Families are now spilling over into sharpstown and far westbury south due to hefty price increases.

[philopower]

Originally Posted by testmo

Id buy an investment property in robindell before Sharpstown proper although they are much the same. Lots of upwardly mobile young families are buying and renting there. Homes tend to be nicer and larger than original homes in garden oaks oak forest.

Meyerland and neighboring areas are well over 350k for typical near move in ready home. Families are now spilling over into sharpstown and far westbury south due to hefty price increases.

Nah, the neighborhood had horrific flooding during the past two rain events. Pass. Though I don't even think you can find anything truly affordable in that neighborhood anymore. Plus I don't like how it's so far away from a freeway.

[bu2]

Sharpstown is also 10 years older than Oak Forest. And as late as 1990, Sharpstown HS was still 90% white. At the time the only other two schools in HISD that were 90% white were elementary schools. Its decline is more recent.

There are some areas that will never recover. Sharpstown has that risk. But it certainly is a long time frame. Inside the Loop is re-developing all over. Loop 610 to Beltway 8 areas may have hit bottom, but aren't re-developing except near the loop and in the very high end (Memorial, Tanglewood). Much of Beltway 8 to Grand Parkway has aged and is starting to decline, so maybe it is time for the rest of inside Beltway 8 to turn around.

There is no area that is recession proof. West U prices dropped in the 88-91 time frame and again from 2008-2010.

[Failed Engineer]

Sharpstown has too much going for it to be grouped into "areas that will never recover". That to me is your Alief's and NE inner beltway quadrant types.

[testmo]

Sounds to me a lot of people in this thread arent houstonians.

Nothing other than memorial and tanglewood? People still think meyerland bellaire westbury galleria and willow meadows are ghettos.

Flooded homes being sold for dirt lot value in meyerland are going for 350-375k and thats having to pay for the demolition of an existing home on top of the more than quarter million

[bu2]

Originally Posted by testmo

Sounds to me a lot of people in this thread arent houstonians.

Nothing other than memorial and tanglewood? People still think meyerland bellaire westbury galleria and willow meadows are ghettos.

Flooded homes being sold for dirt lot value in meyerland are going for 350-375k and thats having to pay for the demolition of an existing home on top of the more than quarter million

You should learn to read better. "except near the loop and in the very high end (Memorial, Tanglewood)." We were talking about Oak Forest which is outside the loop (but "near").

Parts of Westbury are pretty bad.