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Old 10-29-2008, 07:29 PM
 
Location: Sugar Land, TX
4 posts, read 26,628 times
Reputation: 18

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how long do you guys think it's gonna take for the market to recover to a sellers market in sugar land? i'm thinking about buying a investment property in the area.
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Old 10-29-2008, 08:19 PM
 
Location: Sugar Land, Texas
530 posts, read 2,032,554 times
Reputation: 197
If you are buying affordable (mid 100's) foreclosures in First Colony area, they are snapping them up fast. My wife and I looked at a few foreclosure 3/2/2's in the mid 130's and they were selling in like 7 days, because they could resell for the 180's with only minor cosmetic work.
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Old 10-29-2008, 09:37 PM
 
Location: Austin, TX
4,760 posts, read 13,801,067 times
Reputation: 3280
Your outlook will be best if you stick to homes zoned to the top rated schools. Parents care about that type of stuff and many (most?) people shopping for a house in Sugar Land will be families with children.
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Old 10-30-2008, 04:40 PM
 
Location: Houston, Texas
469 posts, read 1,483,012 times
Reputation: 295
puffmaio,

As TOPAZ has pointed out as long as you make a purchase in a neighborhood that is zoned to top schools as well as being in a master planned community you will do fairly well. I do not expect to ever see a seller's market like the one we just finished again. I believe the down turn for the Houston metro will be short lived and Sugar Land will be a popular community for along time. I expect the Sugar Land market area to be back to 3.7-5% appreciation rates by the early part of 2010. One thing you should note is that as long as our legislators choose not to have an urban growth boundary we will never see apprecitation rates of the Coasts. There is plenty of land all across the metro area and this will assure that we do not see a shortage of supply. Abnormally high rates of appreciation in markets is usually do to short term scarcity.

Now if you believe once we come out of this recession that we will have high rates of inflation then you could see greater appreciation rates. If our inflation rate crosses into double digits following this recession you will see property values spike in the Houston metro area. As of this past summer calculations run for median income and median home sale price for the metro area showed that the metro area is about 9% undervalued according to historical terms. So, if you can get a below market buy on a home in Sugar Land that is zoned to good schools, falls in a planned community and cash flows by all means do it. With those stipulations it should pay off well in the short term and will for sure in the long term.
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Old 10-30-2008, 05:29 PM
 
Location: Sugar Land, Texas
530 posts, read 2,032,554 times
Reputation: 197
I agree that you're better off with older homes zoned to good reputation schools vs. newer ones zoned to lesser schools. For instance, this is a big downfall of Sienna Plantation. That's why 30 year old houses in old parts of Sugar Land go for higher than Sienna.
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Old 10-30-2008, 09:40 PM
 
1,290 posts, read 5,427,765 times
Reputation: 724
Sugarland, as with any other of the top tier suburbs in the Houston area, will recover and begin their annual trickle up in appreciation once this recession is over. Whether its the middle of 2009 or 2010 is still open for debate, but it WILL happen.
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Old 10-31-2008, 10:03 PM
 
Location: Sugar Land, TX
4 posts, read 26,628 times
Reputation: 18
extremely informative, thanks guys.
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