Good Area To Buy?

[houstongal]

I just have several questions I need advice on.

1) Everyone has been saying within the next six months is the best time to buy a house in Houston, as the real estate market is down right now. Is this true?

2) What will Houston's real estate market be in about 2 - 4 years/

3) If one does choose to buy a house now, is the downtown area a good place to get a town home? Specifically around the 77003 zip code? Is that area considered an emerging area in Houston?

4) What are the property taxes like in this area?

Please advise. Thanks.

[TheNiche]

I just have several questions I need advice on.

1) Everyone has been saying within the next six months is the best time to buy a house in Houston, as the real estate market is down right now. Is this true?

2) What will Houston's real estate market be in about 2 - 4 years/

3) If one does choose to buy a house now, is the downtown area a good place to get a town home? Specifically around the 77003 zip code? Is that area considered an emerging area in Houston?

4) What are the property taxes like in this area?

Please advise. Thanks.

If you have job security, can afford what you want, and a rent vs. own analysis makes sense, now is a good time to buy a home. It could be better or worse later on, but it probably isn't worth speculating or holding off on a purchase. Appreciation will happen, and it'll likely be slow and steady, as usual.

The 77003 zip code gets mixed reviews, but I like what I see along Commerce Street and it won't be too long before the area gets a few light rail stops. Aside from right near Minute Maid Park and up along the Bayou, there isn't too much in the way of homeless activity, and because there are only a couple small pockets of homes near I-45 and clustered around Settegast Park, there isn't a critical mass of ghetto as there are in places further east.

As a general rule, expect property taxes to be at least 2.5% of the purchase price of a home, due each year in January. But always check the Tax ID to be sure what your obligations are, and always protest.

[houstongal]

If you have job security, can afford what you want, and a rent vs. own analysis makes sense, now is a good time to buy a home. It could be better or worse later on, but it probably isn't worth speculating or holding off on a purchase. Appreciation will happen, and it'll likely be slow and steady, as usual.

The 77003 zip code gets mixed reviews, but I like what I see along Commerce Street and it won't be too long before the area gets a few light rail stops. Aside from right near Minute Maid Park and up along the Bayou, there isn't too much in the way of homeless activity, and because there are only a couple small pockets of homes near I-45 and clustered around Settegast Park, there isn't a critical mass of ghetto as there are in places further east.

As a general rule, expect property taxes to be at least 2.5% of the purchase price of a home, due each year in January. But always check the Tax ID to be sure what your obligations are, and always protest.

Thank you. How does one protest their property taxes?

[TheNiche]

Thank you. How does one protest their property taxes?

HCAD will send you a bill and provide instructions to protest. You can argue for unequal appraisal or use sales comps. The process is usually easy, albeit time consuming.

[jm1fd]

HCAD will send you a bill and provide instructions to protest. You can argue for unequal appraisal or use sales comps. The process is usually easy, albeit time consuming.

According to the HCAD documentation, and unequal appraisial protest requires a "median ratio survey" Can other evidence be used besides a "median ratio survey"?