Indeed. That entire Eastwood neighborhood is going to get popular all over again when that stretch of light rail opens.
Yes Tremont was awful back in the day but it was totally redone....awesome location,awesome 2 story units all under 200k....steep maintenance of $600/month but in comparison the royal ton is a smaller unit that cost 50% more and it's 2 miles away.....so if u like amenity free life Tremont was really cool when I lived there
He owns like 50 Denny's we have the same service agent at Mercedes greenway and that's what I was told
HOA fees in Houston tend be fairly high, and a less expensive unit might just be an investment property in what's basically an un-managed, low-end apartment complex. A crappy ranch house out of the loop might be a better deal.
Condo fees are supposed to serve a purpose. They pay for the amenities, possibly a door person, maintenance of common grounds, and insurance for the outside of the property. Sometimes they include all utilities. Each building will be slightly different, but if managed properly, maintenance fees should help retain property values. The main problems with them are that even though you might have a say as an owner in the maintenance fees, the universal rule is that they tend to go up at a higher rate than inflation. Your building's amentities might not be getting any better to make you feel justified for paying such increases. Another major problem is that sometimes not enough owners pay their fees and fixes get delayed. This was common after hurricane Ike. There were many condo buildings that had to put off repairs to damaged roofs and walls because the funds were short. So be aware of that and try to check out the history of each building. Here are some decent ones that I can think off the top of my head. http://search.har.com/engine/2000-Bagby-St-9423-Houston-77002-8592_HAR81696844.htm Heart of Midtown and the building inventory always sells or leases fast. It might be out of your price range though, but the amenities are top notch...more about buying a lifestyle than a property. http://search.har.com/engine/1601-W-Webster-4-Houston-70019_HAR97603724.htm Midtown area and right across the street from West Webster Dog Park, which was renovated a couple of years ago. Sutton-Gillete area is full of young professionals and people straight out of college. The dog park / normal park is a great place to meet people and acts as the centerpiece of the neighborhood. The loft is right there, with great sightlines of downtown, but also might be out of price range even after a good negotiation. http://search.har.com/engine/1010-Rosine-St-106-Houston-77019-3867_HAR47345448.htm In between River Oaks and Midtown, diagnal from the new Whole Foods. Nice area with quick access to Buffalo Bayou Park and Memorial Park. More of a condo than a loft feel because the ceilings aren't soaring and it's not double leveled open, but still very nice. This one is more in your price range. http://search.har.com/engine/3614-Montrose-Houston-TX-77006_HAR63549574.htm This is an older building with many options at and below your price range. The fees here also pay for your utility bills and it's pretty much on the St. Thomas University campus, so the location is strong. http://search.har.com/engine/5925-Almeda-Rd-12106-Houston-77004-7677_HAR99541700.htm Another lifestlye type buy. This place always has inventory, so I'm not sure if its investment pontential. Hell, Houston is pretty bad for investment potential in condos/lofts anyways...this isn't Manhattan...there's still so much space. More Options: http://search.har.com/engine/3501-Chenevert-St-9-Houston-77004-4199_HAR13207312.htm I can add to the list later, but mainly, when you go house hunting, you got to figure out what your priorities are. Do you want a loft because you like building amentities, are searching for a particular lifestlye, don't like to cut grass, or feel like it's a good starter type ownership? Do you want to be near restaurants and bars, like within walking distance? Do you want young people, old people, or in between in your building? Get your priorties jotted down and it will help you immensely in finding the right property. Good luck.
I think the time to buy has passed, with the rail over half done, you're going to have people selling high.
I doubt it is what you are looking for, but Ethan's Glen (in the Memorial area) is the most beautiful condominium complex I've ever been to. I had a friend that lived there a few years back and going to his condo was always so nice (very serene). He did have a party once and the clubhouse there (that you can reserve for parties) is really something special.
Don't pay that much for anything with a recurring monthly HOA fee that goes up every single year for the rest of your life... For that price get a house. I saw this one - http://search.har.com/engine/3020-Caroline-Houston-TX-77004_HAR78522236.htm for example. Its tough to get a good ROI if you want rent the house out in the future when the HOA fee keeps going up.
Any info about condo developments and FHA approval? I've only purchased a couple of times, but I guess both times with my desired price range or presumed credit standing, that was the ultimate financing route; and it seemed to narrow the list of properties or make me a little more dependent on the realtor for property searches.
