Mr. B Posted June 4, 2009 Share Posted June 4, 2009 Creech Elementary on South Mason and Fry. Behind the massive bank going up and the future auto repair place I was told will be built there (Like we need that). There was to be an apartment complex built and still may be built but latest word from Cinco HOA is there was some funny business with the owners or managers. Something of this nature that has made Cinco put a halt to if for now until things are cleared up. This is just what I was saying in earlier post it just takes some funny business with the builders/managers and then poof instead of a high end you have who knows what running the place. Cinco did not go into all the details with me but just that something was not right and it has been halted for the time being.I had questioned them on why they felt they needed a 5th major apartment complex all within a 3 - 5 mile radius. I know they consider this section of Cinco to be the projects as we like to laugh about it (sorry not trying to offend anyone its just a joke) but doesn't mean you have to stick all the apartments back here. I have a friend of the family who used to be on the HOA and she told me that after they built South Park and SummerPointe they were never going to build another section with houses at the $70 - $110 thousand price range again. Not sure if they have or haven't.Many begged them years ago to use the land to build a very nice park for the communities but Newland said no way the land was to valuable as commercial. So no Park. Link to comment Share on other sites More sharing options...
cla Posted June 4, 2009 Share Posted June 4, 2009 I had questioned them on why they felt they needed a 5th major apartment complex all within a 3 - 5 mile radius. I know they consider this section of Cinco to be the projects as we like to laugh about it (sorry not trying to offend anyone its just a joke) but doesn't mean you have to stick all the apartments back here. Link to comment Share on other sites More sharing options...
inetcfg Posted June 5, 2009 Author Share Posted June 5, 2009 Re: Falcon Point: Congratulations! Now on which side of Falcon Point did you all decide to purchase? The 'Katy High School Side" or the "Cinco Ranch High School side"? Hint: Everything south of Roesner is considered "Cinco High" north of it is Katy High.Hi Falcon Ranch, We purchased on the "Katy High School" side of Falcon Point. Link to comment Share on other sites More sharing options...
j1gilbe Posted June 6, 2009 Share Posted June 6, 2009 I'd like to thank everyone for their great and invaluable input. THANK YOU! THANK YOU! THANK YOU!Well, after about 3 weeks of daily house hunting, we decided on Falcon Point. The Cinco Ranch area is great, but the people selling their homes a) fail to realize that it's a buyer's market and b. are detached from reality with respect to current market value.Grand Lakes is beautiful, and we put an offer on two homes, but again, the sellers felt their homes were worth more than what the market dictated, so those did not work out.I was seriously considering Pine Mill Ranch, as the value was great, but the lot sizes were way too small.We even looked into the older section of South Katy (Nottingham, Governor's Place, Greenway Village, etc..) and really liked the area. Since resell was a big factor for us, we didn't go with that section, as it seems most home buyers flee to the newer developments.The home we have a contract on now is a good balance of all of the things we wanted; quick access to major freeway, beautiful neighborhood, spacious house and good resale.Any thoughts from the community here at HAIF re: Falcon Point.I must be one of those (out of touch with reality) homeowners you are referring to. I just sold my home in Grand Lakes for $4,000 below asking price. After receiving a laughable low bid ($40,000) below asking price. Could that have been you who made that offer? While it is definately a buyers market, Cinco, Grand Lakes and 7 Meadows still remain strong in the resale markets. There is a reason for this. I don't want to rain on your parade, but my friend just sold her house in Falcon Point due to the ongoing deterioration of the neighnorhood. Her street became a thoroughfare for the Katy Mills Mall and the adjoining neighborhoods are becoming rental properties. Not only that, but there is a huge apartment complex going up behind the subdivision. The saying goes....."You get what you pay for". Link to comment Share on other sites More sharing options...
inetcfg Posted June 6, 2009 Author Share Posted June 6, 2009 I must be one of those (out of touch with reality) homeowners you are referring to. I just sold my home in Grand Lakes for $4,000 below asking price. After receiving a laughable low bid ($40,000) below asking price. Could that have been you who made that offer? While it is definately a buyers market, Cinco, Grand Lakes and 7 Meadows still remain strong in the resale markets. There is a reason for this. I don't want to rain on your parade, but my friend just sold her house in Falcon Point due to the ongoing deterioration of the neighnorhood. Her street became a thoroughfare for the Katy Mills Mall and the adjoining neighborhoods are becoming rental properties. Not only that, but there is a huge apartment complex going up behind the subdivision. The saying goes....."You get what you pay for". Hi j1gilbe, Lol, no it wasn't me, I offered max $5,000 less than any asking price. The homes I saw were asking 20-25k over the highest sales price of anything recently sold in their respective neighborhoods. From a banking perspective, these homes will never appraise for asking price. It's no coincidence that these same homes are still Active on the market. Congratulations on selling your home. Re: Falcon Point, it's understandable that living on a street that's a thouroughfare for Katy Mills is undesireable. I'm going to be in one of the gated neighborhoods (and they may ALL be gated, I don't know), past the stop sign. I hope it remains relatively quiet. As far as the apartment complex, I'd hope that it's not a 5th Ward project. It sure is what a lot of ppl paint a picture of when referring to apt complexes in South Katy. What exactly is wrong with an aprtment complex? I'm assuming (and perhaps a bit naively) that rent at these apartments aren't in the $400-$500 range. If you don't mind, can you expound on your comment on the further deterioration of Falcon Point? It's not too late for me to back out! Link to comment Share on other sites More sharing options...
Mr. B Posted June 7, 2009 Share Posted June 7, 2009 Actually on the apartments back here are all very nice and I think that is partly because Cinco Ranch is keeping an eye on them. I hope this continues but I still do not see the need to have 5 major apartment complexes all in such a close range other than money and this is the low end of Cinco back here. As for the one's on the tollway, etc those are unknown who and how they will be run.From what I can tell most of the one's in Cinco are going for around $700 and above for apartments when I checked. Nothing really wrong with them except to many of them just don't seem to have a good effect on areas that I have lived in the past. Time will tell. Link to comment Share on other sites More sharing options...
t0ddlg Posted June 8, 2009 Share Posted June 8, 2009 I don't want to rain on your parade, but my friend just sold her house in Falcon Point due to the ongoing deterioration of the neighnorhood. Her street became a thoroughfare for the Katy Mills Mall and the adjoining neighborhoods are becoming rental properties. Not only that, but there is a huge apartment complex going up behind the subdivision.While they were working on the Kingsland extension to Katy Mills, Katy Fort Bend Road was closed and mall traffic from Bay Hill Blvd was detoured through the neighborhood for a week or so. Link to comment Share on other sites More sharing options...
tcr98taws6 Posted June 9, 2009 Share Posted June 9, 2009 Nothing is wrong with living next to apartments if that's what floats your boat. But that doesn't float mine....The homes with the highest resale values are usually those without an apartment complex behind them or with-in a stones throw. In MOST situations, apartment dwellers generally reduce the income demographics of a neighborhood, which in turn has a adverse effect on the type of businesses that establish themselves closeby. Apartment complexes don't always hold up well, but with a really strong property management group and high association fees they can maintain their values. Link to comment Share on other sites More sharing options...
Trae Posted July 5, 2009 Share Posted July 5, 2009 Who do you expect to work at Wal-Mart, HEB, Target, and the restaurants around the south Katy area? I'm pretty sure someone who is working at these types of establishments are not able to afford living in CR, Grand Lakes, or Seven Meadows? Don't confuse Governor's place with the real "south Katy" Seven Meadows, CR, and Grand Lakes. Governor's place will be a rental community in the next year or two. Who is going to work at those places? Teenagers . But seriously, there are a ton of new apartments in Katy now. Not just South Katy, but North Katy has been getting new ones as well. Link to comment Share on other sites More sharing options...
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