Houston economy question

you want affordable...move to where i grew up...alief

and pack some heat while you're there.

 

Don't count on the Heights homes coming down anytime soon. The market here is still strong with new construction, renovation and resale going on all the time.

However, this is the right time to buy. There are plenty of homes on the market and winter is a tough time for sellers. I don't know how much you can afford, but expect to pay at LEAST $200,000 in the Heights if you want something larger than 1,000 sq. ft. that does not require serious renovation. The home right across the street from us (a 1300 sq. ft. nicely renovated 2/2) just sold for $200,000 even.

There is a beautiful 1 story at the corner of Ashland and 12th with a garage and apartment above it for sale. I actually have been in that home and the people who live there are INSANE neat freaks. I'm sure the house is more spotless than Martha Stewart's! I know it has wood floors and a fairly sizeable kitchen. It is one bath, however, and two bedrooms.

Here are a few realtors that should help:

Jeff Morrison with Martha Turner Properties - I don't know his number but Jeff is actually a friend of mine (he's a great guitar player). He lives in the Heights and knows it well.

Cynthia Hill with Cynthia Hill Properties - She is awesome. My wife and I adopted two ferrets from her several years ago. She used to have a ferret adoption agency. Her number is 713-869-0540

Karen Derr - Nice Heights-area realtor
Gary Greene Heights
Of course, Coldwell Banker, Swilley Hudson - Swilley Hudson was THE independant Heights realtor until they were bought by Coldwell Banker. They still have most of the properties.

I would also recommend Frank Babinack. He is an attorney and small home broker on Heights Blvd. He worked with my wife and I as a buyer's broker. They don't cost you anything (they get a cut of the sale commission) but they can be very valuable in dealing with contracts and realty people.

If you want some more info, drop me an email. I'm happy to help.

 

www.har.com

Houston Real Estate can be found by location, specifics and price.
Its a great resource to do your homework yourself instead of calling real estate agents at first.

Now is a good time, simply because I see the Compaq and Enron layoffs as short term declines in Houston's growth. Houston is also the home of such companies as Reliant, Duke, El Paso and Dynegy and should bounce back rather quickly.

If you are serious, get out there now because I feel right now you can take advantage of the emotion preying on Houstonians amidst the looming Enron bankruptcy.

 

Why inside the loop?

Move to Sugar Land.

After the construction on 59 is completed, traffic should be a cake.

Prices are kinda high, but it's the 'burbs.

 

Sugarland to north of Galveston isn't exactly a picnic of a commute. After living out in the 'burbs for nearly 22 years, I cannot EVER imagine living that far away from my job again. Granted, my commute now is feet rather than miles ( ), but I can get just about anywhere in town in few minutes because I'm centrally located.

If I were going to move out of the city, it would be WAY the hell out of the city.

 

I think they've been saying "After the construction on 59 is completed..." since I came to this country back in 1974.

This is an interesting thread. Unfortunately it's also one I can't contribute much to because of my lack of knowledge. However, I've thought that some of the goofs that overspent well beyond their means back in the telecom boom for the past few years here in Dallas are going to be selling/foreclosing their homes soon if not already. I've often thought about just buying 1 or 2 homes in the hopes of turning around and selling them down the road for a profit. But then, like I said, I know nothing about the housing market.

 

Pole,

I got what you want now. I looked at all three above and I can tell you a little about the first 2. The 3rd is in the Montrose.

#1 is literally 2 blocks from my house. It is in the same block as mine between 11th and 12th just two blocks over. It is a brand new home that was really wedged between two much smaller homes. It takes up nearly every square inch of the property and is directly across the street from three new large homes in a similar style.

About 2 houses down is a halfway house run by the United Way. It is an assisted living facility mostly for people in wheelchairs. The people there are very nice and it is a nice place. You are basically across the street from Love Park which isn't a bad thing. It can get noisy on the weekend and they have HUGE lights for night soccer games but it isn't dangerous or anything. You are also 1 block from a really great little neighborhood restaurant - Java Java Cafe.

The location is the West Heights close to Shepherd. There is a large Kroger about 3 blocks from you there and an HEB about 5 blocks in the other direction.

#2 is in a more developed section of the Heights but the house in question is kind of a cookie-cutter group of homes there squeezed onto very small lots. The lot is east of Heights Blvd and north of 20th - really more in Sunset Heights. There is a good basketball court close to there that rimbaud and I have played at a few times. You are very close to a large middle school that is on 20th, a big Kroger and 19th St. with all the antique shops.

I would suggest continuing your search in the West Heights area, particularly between Yale and Shepherd, south of 11th. That is the last area to really be developed (although, north of 11th is where I am and it is still growing as you can see from #1) and should have the best deals but you may have to live with less favorable conditions than in other areas.

 

Neither is anywhere north of South Houston. Sugarland to north G-Town is just as bad as the Heights to north Galveston. You can hop on the Beltway and it's a straight 10-15 mile stretch over to 45. I'm not sure how bad traffic is in the morning on that stretch of BW-8 though.

 

Mortgage rates are priced versus the yield on the 10-year Treasury note. Follow that yield and not necessarily what the Fed does.

 

I grew up from 1970 - 1979 very near there in between 15th and 16th, on Blair and then on Herkimer (the very next street). The tiny house on Blair is still there, but the house on Herkimer was demolished for a new larger fancy one.

Love Park.... ah, the childhood memories. I had a friend who lived directly across the street (north) of the park.

My grandmother (and now my mom too) still lives in Sunset Heights right near the freeway (610).

 

If you are willing to consider instead of a house, a townhouse, condiser the area around West Grey/Lousiana. The 'inner-city' renewal that was started in the Heights in the 80's and has since started anew seperately downtown, is comeing together in the middle in this West Grey area.

While the character is different than the easygoing attitude of the Heights, the area is exhibiting the same signs of rapid change that the Heights did 10-15 years ago, and it's somewhat more focused attitude may translate into greater continued property value gains. The change in the area from 2 years ago is truly amazing.

As much as I like the lack of zoning laws in the Heights, I believe that they will prevent the area from realizing it's potential as a cash cow.

 

Pole,

I have a hookup for you. They split commission with you if you're the type of person who does all the house shopping on your own. You see, if the owner has a realtor...I'm not even sure if that even is necessary...all I know is there are situations where if you have a broker who is your friend who is willing to split money with you, that is more savings than if you did not have a broker or realestate agent at all. So if you want to take advantage of the system, email me at kmx03@yahoo.com and i'll give you the lowdown.

 

I stumbled upon this 16-year-old thread and it's fascinating to read today. $200k in the Heights?! Some of those houses you posted links to have more than tripled in value.

Where did you end up buying?