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I recognized the random sprinkling of crackers in there....I said mostly black people.

if i didn't know better, the tone of your comment(s) would seem to imply some things about your preferences regarding cultural differences.....

i agree with rps324

i am not aware of any major trends that have had an impact on values and appreciation, Houston builders and developers seem to lack vision when it comes to design; most simply build 2 or 3 story townhomes that look just like the last builders development with no real aesthetics architecturally.

the east end is and will be one of the hottest areas to purchase in as it is still what i consider to be ahead of the curve for savvy buyers who buy the right product at the right price. 5th ward is probably hotter than the east end, however the product currently on the ground is not all that great (juliet & in-town homes).

buy a bungalow that needs a little work that suits your lifestyle and watch your net worth grow over the next 0-3 years or simply buy a nice lot and build your dream home; personally i would build my own place as there are some good deals that are popping up from time to time in these areas on lots and/or teardowns.

i agrees with jscarbo, you should be able to build those units in the $63-69 per price range without too much of a problem. at this price you should be able to get granite counters and a nice ceramic tile for the wet areas and a nice carpet for the rooms.

in order to get into the $50's per, you will have an apt. grade unit that has FHA grade carpet, laminates and formica or c tile.

my being in the real estate industry not-withstanding, i think your decision to not use a realtor will actually work against you in getting the price you deserve and/or seek as an expert in new construction inner city housing will be able to easily steer you in the right direction to get a good deal.

that said, in general it is hard to say if 10% off the list will get accepted, i would need to know the complex to better determine however i can tell you that many builders are dealing right now in that price range and because of the amount of units for sale in that area sizable discounts are available.

another alternative depending on your time frame would be to build from the ground up. land prices are high in that area however considering you are spending $400k or so, the land prices are not too bad. I can recall a nice piece of land that was near Detering behind that laundry whse. that sold for roughly $36k and it presently has 2 nearly completed townhomes that are probably for sale now.

Wow guys...some of the posts are fairly harsh.

I see why Houston has had problems growing into a more progressive place to call home....most of the cities

that are admirable as far as development and quality of life all have some means of meshing more affordable housing alternatives with market rate housing and despite some of the posts here, this is what the city is attempting to do.

As for the quality of the homes, I think many of you would be surprised to know that the same framers, electricians, plumbers and craftsmen overall that are working on these houses will complete these and then build your home in Memorial, Cottage Grove or the Heights so I am one of the mindset that believes that the quality of these are much closer in quality to many of the more expensive homes that some of us live in.

All in all, for those who do purchase these, mid to long term they will be quite happy with their purchase as far as equity gains go. I have a friend who paid $200k for a 50 x 100 less than 4 blocks from these houses.