Bellaire house prices did not increase even a bit in the last 10 years????

[travelguy_73]

I will add to this that Bellaire, like West U, is now in what I will call a "third wave" of home construction. So many of the homes built 10-15 years ago are now starting to show their age, and buyers in this price range are incredibly fickle. So they will walk into a 10-year old house and see "dated" finishes versus the new home being built down the street.

Unless he's sitting on a very large lot, $900k was a high price to pay in the area a decade ago, and there is plenty of inventory at the million dollar price in brand new homes with all the latest trends. The flooding during Harvey, even if it didn't affect him, did give Bellaire and Meyerland a black eye that will take time to go away.

[gwarnecke]

The biggest determinants of price appreciation in Houston seem to be the following:
-The degree of gentrification that a market has experienced. Parts of The Heights and GOOF, for example, are scarcely recognizable today compared with what they looked like a decade ago (in terms of both housing stock and neighborhood amenities - restaurants, retail, etc) Price appreciation reflects this. By comparison, Bellaire was already an upscale area and hasn't changed that dramatically from 10 years ago, except for the demolition and reconstruction of (mostly) flooded homes.
-A home's price point within its market. The lower-end homes in a given area almost always appreciate the fastest. 10 years ago an entry-level home in Bellaire could be had for 200-300k, nowadays there's almost nothing liveable under $500k. By comparison, $900k is right in the heart of the Bellaire price spread.
-Supply. Even though Bellaire is a fairly exclusive enclave within Houston, there seems to be ample supply of homes for sale, which keeps a lid on prices. This is likely a lingering effect from the 2015/2016/2017 floods - these accelerated teardown/rebuild trends in Bellaire and the surrounding areas and resulted in a (relative) glut of ~$1mil new-construction homes for sale, keeping a lid on prices.

[LocalPlanner]

I agree with the point about what happened to the upper tier price ranges after the 2015 oil crash (technically autumn 2014). Appreciation pressure for those homes went away, while demand in more moderate price ranges continued strongly, encouraging appreciation.

[ParaguaneroSwag]

Bellaire is right accross from the notorious side of Bissonnwtt. That really holds it back

[LocalPlanner]

Originally Posted by ParaguaneroSwag

Bellaire is right accross from the notorious side of Bissonnwtt. That really holds it back

No, then it wouldn't have ever become expensive at all like it is now.

The Bissonnet area you mention is zoned to different high schools from homes in Bellaire proper. That's the main story.

[DabOnEm]

Originally Posted by LocalPlanner

No, then it wouldn't have ever become expensive at all like it is now.

The Bissonnet area you mention is zoned to different high schools from homes in Bellaire proper. That's the main story.

It's also literally in a completely different city which helps even more in my opinion. It's why Bellaire Police can be so vigilant and petty.

[LocalPlanner]

Originally Posted by DabOnEm

It's also literally in a completely different city which helps even more in my opinion. It's why Bellaire Police can be so vigilant and petty.

Yeah lots of citizen pressure on Bellaire police to be super-strict with "outsiders" (especially POCs). Those same citizens tried to get METRO to close its Bellaire Transit Center because it attracted patrons from west of Chimney Rock.

[hbcu]

sadly someone told me years ago Bellaire was the "poor" community in the area and was looked down on when you compared them to Sharpstown, Lamar area, etc.

how times have changed lol

Same older houses in Bellaire are in South Park

[ParaguaneroSwag]

Originally Posted by LocalPlanner

No, then it wouldn't have ever become expensive at all like it is now.

The Bissonnet area you mention is zoned to different high schools from homes in Bellaire proper. That's the main story.

Originally Posted by DabOnEm

It's also literally in a completely different city which helps even more in my opinion. It's why Bellaire Police can be so vigilant and petty.

There is literally a spot in (Capital One for example) where you are in the city of Bellaire and look right across the street where the Houston city limits are and completely see the difference. Bellaire is along the most notorious prostitution and drug infested street in the city, right across from where the "hood" starts.

What other "expensive/professional" area doesn't have this? The Woodlands, Katy, Spring, Sugar Land, Pearland, I can keep going. Only Bellaire. Would I mind moving there? Absolutely. Give me the nice house at a cheaper price. But for most people, when you have the option to be further away you'll take it. This definitely works against Bellaire's favor for home prices. It's not rocket science.

[ParaguaneroSwag]

Originally Posted by ParaguaneroSwag

There is literally a spot in (Capital One for example) where you are in the city of Bellaire and look right across the street where the Houston city limits are and completely see the difference. Bellaire is along the most notorious prostitution and drug infested street in the city, right across from where the "hood" starts.

What other "expensive/professional" area doesn't have this? The Woodlands, Katy, Spring, Sugar Land, Pearland, I can keep going. Only Bellaire. Would I mind moving there? Absolutely. Give me the nice house at a cheaper price. But for most people, when you have the option to be further away you'll take it. This definitely works against Bellaire's favor for home prices. It's not rocket science.

Absolutely not*. I would personally move there and feel good where I’m at