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Old 05-08-2009, 08:44 AM
 
1 posts, read 1,909 times
Reputation: 10

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I saw these new townhomes being built near the galleria:

http://www.sandcastlehouston.com/ind...&communityID=6

Price is good compared to surrounding comps, but my realtor said to stay away! He said that the value would go down after the village is built out since it is in the middle of an industrial park.

What do you guys think?

-zoop

Last edited by zooplibob; 05-08-2009 at 09:25 AM..
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Old 05-08-2009, 10:31 AM
 
Location: Houston, TX
17,029 posts, read 30,910,074 times
Reputation: 16265
Do you think the realtor is trying to mislead you? Industrial parks are not great for resale.
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Old 05-08-2009, 10:32 AM
 
Location: Houston, TX
54 posts, read 149,799 times
Reputation: 41
I would say that area is a lot riskier than areas closer to the Galleria. I see a lot new townhouses on Winsome closer to Chimney Rock (just west) that I think are in the same price range but don't seem to be selling to fast.

I would think that in 10 years that area might be really nice but who knows. With that industrial park close by, it might take longer. If the price of gas shoots up to $6/gallon or more that area might be bargain.
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Old 05-08-2009, 10:33 AM
 
Location: Charleston Sc and Western NC
9,273 posts, read 26,484,606 times
Reputation: 4741
You don't want to live in that area.
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Old 05-08-2009, 12:53 PM
 
Location: ATX-HOU
10,216 posts, read 8,113,448 times
Reputation: 2037
Quote:
Originally Posted by zooplibob View Post
I saw these new townhomes being built near the galleria:

Sandcastle Homes - Gated community of new homes near the Houston Galleria

Price is good compared to surrounding comps, but my realtor said to stay away! He said that the value would go down after the village is built out since it is in the middle of an industrial park.

What do you guys think?

-zoop
Looks nice. I would say that particular area is a mixed bag/transitional area. However, there are townhomes that are going for probably twice that just 4 blocks closer to the Galliera at St. George's Place. Just the particular place where these townhomes are located would be less desirable to the industrial park and general look of that particular area.
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Old 05-08-2009, 01:22 PM
 
2,628 posts, read 8,829,835 times
Reputation: 2102
I think your agent obviously had your best interests in mind. That area has a lot of large apartment complexes that are not going away.
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Old 05-08-2009, 01:22 PM
 
Location: Houston
687 posts, read 2,127,631 times
Reputation: 779
i think the design looks like bad feng shui!
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Old 05-09-2009, 11:15 AM
 
Location: Houston
3,565 posts, read 4,863,320 times
Reputation: 931
That area is bad. I would stay away for sure. Wouldn't even move there if they gave me a house for free.
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Old 05-09-2009, 11:18 AM
 
Location: southern california
61,288 posts, read 87,379,099 times
Reputation: 55562
he can "say" away all he wants but a good idea to "stay" away but keep an eye on it.
in melt down such places can be a deal, but you gota pay cash no bank financing available in a meltdown. many that know predict a meltdown comin but delayed. zoning is always an issue another negative to pay attention to.
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