Realtors: Are well located innerbeltway homes recession proof? (Houston, Spring: real estate, apartments)

[philopower]

We have an opportunity to purchase a home in Sharpstown section 1 for around 90k. It needs work but is not a complete disaster. I'm looking at homes in the immediate vicinity and the cheapest, most trashiest place is going for 140k while some of the newer homes are going for 400k. I'm just amazed at how fast the values have risen in the area, especially within the last year.

My question is: Are these areas recession proof? I'm worried that if the whole Houston area crashes, we'll have made a bad investment and lose out on money. However, considering that even through this local recession, the area continues to appreciate and it seems like a safe investment.

[DSL_PWR]

Originally Posted by philopower

We have an opportunity to purchase a home in Sharpstown section 1 for around 90k. It needs work but is not a complete disaster. I'm looking at homes in the immediate vicinity and the cheapest, most trashiest place is going for 140k while some of the newer homes are going for 400k. I'm just amazed at how fast the values have risen in the area, especially within the last year.

My question is: Are these areas recession proof? I'm worried that if the whole Houston area crashes, we'll have made a bad investment and lose out on money. However, considering that even through this local recession, the area continues to appreciate and it seems like a safe investment.

You do realize that area is one of the most crime ridden areas in houston correct?

[philopower]

Originally Posted by DSL_PWR

You do realize that area is one of the most crime ridden areas in houston correct?

You do realize that the residential neighborhood is not crime ridden and the prices are continuing to rise?

[lhafer]

Originally Posted by philopower

You do realize that the residential neighborhood is not crime ridden and the prices are continuing to rise?

Perhaps, bus most people here "Shaarpstown" and tend to think "no thanks".

[azinwood]

Originally Posted by philopower

You do realize that the residential neighborhood is not crime ridden and the prices are continuing to rise?

better pull the trigger then.

[SuperPollito]

I've been in Houston 2 years, so I am still very much learning the city. However, I find the question rather odd. It is my perception that inside the loop is very desirable, or the suburbs generally outside the beltway are desirable . I don't know that I've ever seen anyone paint the area between the loop and the beltway as desirable or recession proof, etc., except for maybe specific neighborhoods.

[ipuck]

Originally Posted by azinwood

better pull the trigger then.

OP, if you are convinced it is a great deal, then knock yourself out. I heard they are doing a fire-sale at Sunnyside also. Gulfton is very cheap too. I am sure you will pick some bargains and houses in great shape.

I am sure in couple years they might be the same price as west u.

[marksmu]

Originally Posted by SuperPollito

I've been in Houston 2 years, so I am still very much learning the city. However, I find the question rather odd. It is my perception that inside the loop is very desirable, or the suburbs generally outside the beltway are desirable . I don't know that I've ever seen anyone paint the area between the loop and the beltway as desirable or recession proof, etc., except for maybe specific neighborhoods.

Virtually the entire area South of I-10 & North of Memorial Drive between the loop and the beltway is desirable....this encompasses some of the most expensive real estate in all of Houston and includes the galleria, Tanglewood, and all of the memorial villages such as Piney Point, Hedwig Village, Bunker Hill, etc. Its a huge swatch of highly valuable/desirable real estate.

[Failed Engineer]

I don't know about SFHs in the Sharpstown area, but I know the well managed apartments in the area have slowly, but consistently, improved the quality of tenants in the last two years. The real trash, while still there, seems to be gradually moving to other areas of the city. I would guess that bodes well for the SFHs in the area too.

[rb29335i]

Originally Posted by SuperPollito

I've been in Houston 2 years, so I am still very much learning the city. However, I find the question rather odd. It is my perception that inside the loop is very desirable, or the suburbs generally outside the beltway are desirable . I don't know that I've ever seen anyone paint the area between the loop and the beltway as desirable or recession proof, etc., except for maybe specific neighborhoods.

Gentrification on the west side has maxed out the inner loops (montrose/midtown/heights) so now it's spreading to areas between the loop and 8. Garden Oaks / Oak Forest / Meyerland is already mostly $350k+, Spring Branch is next, it's just a matter of time before Sharpstown rebounds.