Shadow Creek Ranch won't appreciate for another 10 years (The Woodlands, Pearland: HOA fees, houses)

[sathyakamaraj]

Originally Posted by nfappa

The real value of home in Shadow Creek Ranch is round $65 per Sq. ft., unless you have granite covered home or gold plated door knobs. So, when you buy, multiply with Sq. ft, and add 15%-20% depending on the subdivision and then make an offer. Otherwise, you are overpaying in the current market conditions.

Please offer your input so that it can be a good discussion for future home buyers.

What do you saying is " Shadow Creek Ranch community will not increase in the price value" - I agree to this totally. But other top communities in houston - Telfair, cinco ranch, sienna plantation, woodlands - they will not see any property value increase either : No communities in Houston areas will get more market value atleast for some years.

"""" The real value of home in Shadow Creek Ranch is round $65 per Sq. ft., unless you have granite covered home or gold plated door knobs. So, when you buy, multiply with Sq. ft, and add 15%-20% depending on the subdivision and then make an offer. Otherwise, you are overpaying in the current market conditions"""" -

I just bought a house - price is 64.50 Sq.ft after 20K upgrades - My friend bought a house last year 2400 Sq.ft with upgrades $249k - single story --
I bought 4000 Sq.ft house - little over my friends price;
May be next year price may go down to $55-$60 per sq.ft....But i am happy with this price because of the situation - I dont want to pay $12,000 more on Rent...I better pay the difference upfront..(rental n own)

[Houston456]

Where in SCR you are and Where in SCR your friend is ?

Originally Posted by sathyakamaraj

What do you saying is " Shadow Creek Ranch community will not increase in the price value" - I agree to this totally. But other top communities in houston - Telfair, cinco ranch, sienna plantation, woodlands - they will not see any property value increase either : No communities in Houston areas will get more market value atleast for some years.

"""" The real value of home in Shadow Creek Ranch is round $65 per Sq. ft., unless you have granite covered home or gold plated door knobs. So, when you buy, multiply with Sq. ft, and add 15%-20% depending on the subdivision and then make an offer. Otherwise, you are overpaying in the current market conditions"""" -

I just bought a house - price is 64.50 Sq.ft after 20K upgrades - My friend bought a house last year 2400 Sq.ft with upgrades $249k - single story --
I bought 4000 Sq.ft house - little over my friends price;
May be next year price may go down to $55-$60 per sq.ft....But i am happy with this price because of the situation - I dont want to pay $12,000 more on Rent...I better pay the difference upfront..(rental n own)

[sathyakamaraj]

Originally Posted by Houston456

Where in SCR you are and Where in SCR your friend is ?

Biscayne Community is mine
Village green my friend ( some green)

[firsthome]

SathyaKamaraj - You seem to have got good deal? Can you share which builder/plan you got into?

[davidtk]

Originally Posted by nfappa

...

The real value of home in Shadow Creek Ranch is round $65 per Sq. ft., unless you have granite covered home or gold plated door knobs. So, when you buy, multiply with Sq. ft, and add 15%-20% depending on the subdivision and then make an offer. Otherwise, you are overpaying in the current market conditions....

The real value of a home in SCR is determined by what people are actually willing to pay for it. I looked at actual sales prices in SCR with a realtor, and the typical sales price is north of $65, including recent sales. Although your $65 number times 20% equals $78.

I'm going from memory, but the typical square foot price (on ACTUAL home sales) seems to fall in the $80-$90 range, although I do recall at least 1 or 2 sales in the $60 range on smaller homes (foreclosures perhaps?). It seemed like the price/square foot was higher as you go to larger homes, presumably because they're on larger lots and have more amenities inside.

Again, I'm going from memory on these prices, and I didn't do a detailed study of SCR sales prices. I just had a realtor pull some sales info, so take my numbers with a grain of salt.

Sounds like some people here got good deals recently because of the economy though.

[newhomebuyer80]

David you are right... $65 + 20% = $78 which is not a great deal at all..
Lower the Sq.ft area - price will be in that range. There was one house when I was looking, foreclosure - $62 - But I didnt like it.

Firsthome - PM me - I thought you bought the house in Cinco ranch area already..

[wersap]

The homes in SCR are actually selling for a range from $85-$98 a sq. ft. One recently sold for $107 a sq. ft. The range is large because the houses are not all created equal in a MPC. Some homes in SCR are on beautiful lake lots, cul-de-sacs, have tons of upgrades, and 3 car garages. Most of the ones selling for $65 a sq. ft. are foreclosures and need a lot of work. Also, living inside Clear Lake Loop in SCR is very desirable, and all of those lake lots are gone. If you want a great neighborhood where you can feel safe, play outside with your kids, be at the mall in less than 5 minutes, and the medical center in 15 minutes, then you would probably be happy in SCR.

[Supermac34]

I built a custom (not a tract home) in the Master planned community of Windrose on the NW side of town in 2003. We built and moved in for about $240,000 (we did get a steal on the lot, it was the last lot in the section and not that sought after, but we landscaped the heck out of it on our own and really made it a great homesite). We sold it in 2007 for $350,000. That's pretty good for a master planned community. The key was we built a less expensive house in the custom section by a small time custom builder and avoided the David Weekly type large tract builder.

[spg10]

Part of the problem with SCR stems from the residents. There are still tarps on roofs and fences down from Ike, keeping in mind that it was 7 months ago, residents often do not take care of their yards, HOA does not enforce bylaws regarding almost anything... The HOA is still a developer controlled board, and the HOA dues continually go up every year (I started paying 500 and left paying 810)... I am so glad that I got out when I did. Traffic is horrible but you eventually figure out the back ways to get to the east side of 288.

[jfre81]

OK, let's see, you have the same house everyone else has in your development and they're still going to be building new ones there 10 years from now. So somehow I don't find it too odd that you wouldn't get that much more for a 10-year-old house when newer ones in the same place are still going up.