Property Values

[snickers]

My family is planning a move to the Houston area - and I am thinking of buying a home in Galveston. I have read/inferred from different articles I have read on the internet that housing values will triple on the island in the next ten years. What are your opinions on this? Any opinions on buying in Galveston at all are appreciated!

BTW - I have been 'lurking' on this forum for a while - glad to see it is back up and thanks for all the wonderful info I have gathered here!!!

[ricco67]

welcome to the board, Snickers.

It depends on the lifestyle that you plan on leading and WHERE in galveston you plan on making your purchase.

Personally, I'd stay away from literally at the beach, as this could be a bad thing once a hurricane would come by and take your take your beach with it.

If you plan on living AND working in Galveston, then it would be great, if you plan on working anyplace else, then I'd say you're up for a massive commute.

Just my two cents.

Ricco

[snickers]

define 'massive commute'....we live in a burb of chicago - so we are sorta used to long commutes - not too sure how that compares to down there though.

any other burbs of houston that i should be looking at or that you recommend? middle class...decent schools....low crime rate...appreciating values....

everyone that i tell that i am moving to galveston says "what about the hurricanes" - now keep in mind that here in the midwest...you can be outside and literally watch a storm and funnel cloud develop!! i tell them that at least you get a warning about the hurricanes!!!

[Houstonrush]

I plan to move to Galveston within the next three years. You can buy some awesome historical homes for a fraction of the price you can buy a home in Houston. I will have to commute to the main land as well, so I hope it will not be that long of one.

[ricco67]

by "massive" commutes depends if you are planning on working on the mainland and depends on what your occupation. To get anywhere on the island isn't a major hassle. But getting on and off the island is a pain. I figure about 30 minutes to get to clear lake...assuming you're doing 40mph or so.

The forum members that live in the area would probably know better than I.

One thing you will learn about living in Texas, the distances are VAST, compared to Chicago, so you'll have some adjustments to make.

Take to consideration my former commute time:

From Jersey Village to the Galleria is approx. 16 miles. Head out at 6am, get there at 7. (if I'm lucky) Left at 4p, got home at 5:30. (if I'm lucky) You can do the math for 16 miles a day for 25 days, along with fuel and time calculations.

I'm just giving you a basis of MY experience with commuting that particular distance. Your inconvience factor my vary.

In galveston, you'll have to ask anyone on here to lived here to take THEIR vantage point into consideration.

Ricco

[SpaceCity]

Galveston is dumpy. It doesn't even have a movie theater. I'd look somewhere else. No wait, I'd look ANYWHERE else.

[J.A.S.O.N.]

Galveston does have a movie theatre, and a performing arts theatre. What are you talking about?

http://www.pccmovies.com/galveston.htm

http://www.thegrand.com/

[pineda]

I hate to say, because I am not a big fan of P.T. Barnum (AKA: Tillman Fertitta), but he does seem to have a stranglehold on Galveston lately, and this will undoubtedly cause a resultant uptick in property values. If you want a primary residence, or a second-home/vacation property in the Galveston area, now would be the opportune time to make that purchase. If you like kitsch and flash and glitz, then you may even want to buy a home nearby one of his properties to fully enjoy that experience.

[SpaceCity]

Galveston does have a movie theatre, and a performing arts theatre.  What are you talking about? 

http://www.pccmovies.com/galveston.htm

http://www.thegrand.com/

<{POST_SNAPBACK}>

I'm sorry, I meant a "first run" movie theater. One that shows stuff soon as it comes out.

Galveston = Waco by the sea.

I'd consider moving my family there an act of cruelty.

[J.A.S.O.N.]

Again, what are you talking about? You obviously have no idea about what goes on here on the island.

http://www.readyticket.net/webticket/webti...howTimes&WCE=66

HERO PG13

Running Time 1:39

1:35p 4:00p 7:00p 9:20p

ANACONDAS BLOOD ORCHID PG13

Running Time 1:41

12:30p 2:50p 5:15p 7:35p 9:55p

RIDING GIANTS PG13

Running Time 1:41

1:05p 3:20p 5:35p 7:45p 10:00p

THE MANCHURIAN CANDIDATE R

Running Time 2:25

1:25p 4:10p 6:50p 9:35p

ALIEN VS PREDATOR PG13

Running Time 1:45

1:30p 3:30p 5:30p 7:40p 9:50p

BOURNE SUPREMACY PG13

Running Time 2:05

4:35p 7:05p 9:25p

YU-GI-OH PG

Running Time 1:35

12:45p 2:45p

EXORCIST, THE BEGINNING R

Running Time 1:54

1:15p 4:05p 7:15p 9:30p

PRINCESS DIARIES 2 G

Running Time 2:05

12:50p 3:10p 5:20p 7:30p 9:45p

COLLATERAL R

Running Time 2:05

1:20p 4:20p 7:20p 9:40p

WITHOUT A PADDLE PG13

Running Time 1:39

12:55p 3:00p 5:00p 7:10p 9:15p

OPEN WATER R

Running Time 1:19

12:40p 2:30p 4:25p 6:55p 8:55p

[snickers]

I hate to say, because I am not a big fan of P.T. Barnum (AKA: Tillman Fertitta), but he does seem to have a stranglehold on Galveston lately, and this will undoubtedly cause a resultant uptick in property values. If you want a primary residence, or a second-home/vacation property in the Galveston area, now would be the opportune time to make that purchase. If you like kitsch and flash and glitz, then you may even want to buy a home nearby one of his properties to fully enjoy that experience. 

<{POST_SNAPBACK}>

Thanks for the info! From the research I am doing it seems like all around Houston is a good investment at the moment. (yes?) Salaries are comparable to Chicago but housing is half what it is here! Am I getting the right feel of the area?? I know the population is growing but is the area attracting new big business to support the population growth?

And thanks for the debate going on about what Galveston has....I am saving all the links and taking note of the pros and cons!! I appreciate it!! So far this forum is awesome!!!

[jm1fd]

Thanks for the info!  From the research I am doing it seems like all around Houston is a good investment at the moment. (yes?)  Salaries are comparable to Chicago but housing is half what it is here! Am I getting the right feel of the area??  I know the population is growing but is the area attracting new big business to support the population growth?

And thanks for the debate going on about what Galveston has....I am saving all the links and taking note of the pros and cons!!  I appreciate it!!  So far this forum is awesome!!! 

<{POST_SNAPBACK}>

Suburbia really isn't a good investment....at least not on the whole....I'm sure some areas do great. Problem with most of suburbia around here is there's always a newer ring of houses being built just past the latest subdivision, and why would anybody want to pay $120k for a used house, when $120k will get them a brand new one just up the road.....we have really no natural boundaries around here....its all flat, and ready to build houses on.

Inner loop is your best bet for appreciation....

[westguy]

It is predicted that the Atlantic will be signficantly busier swirling up new hurricanes to throw at us. Galveston faces these storms, mostly unprotected. The west side of Houston is a much safer place to be in if a Category 4 or 5 storm hits the city. That, plus, well, the air pollution on the other side of town is the reason that West Houston is becoming so overpopulated.

[J.A.S.O.N.]

Well, you can take it for what its worth, but my grandmother's home withstood hurricane Carla catagory (4) 1961, and Alica catagory (3) 1983, (our last hurricane by the way) with minimal damage to her roof tiles and an oak tree in her back yard. Houses on the beach are VERY vulnerable to damage though.

[SpaceCity]

I've only been about 10 times in 30 years. The last time was March.

I was just surprised by how its stayed SO trashy over the years. You'd think with all the wealth from Houston it would be in better shape. I was surprised by the poverty.

It has some beautiful old homes. It has a beautiful old historic district. But I'm afraid the rest of the town's current poverty distracted me from its history.

[MidtownCoog]

"That, plus, well, the air pollution on the other side of town is the reason that West Houston is becoming so overpopulated."

Sugar Land has some of the worse air in Houston this Summer. That pollution has to go somewhere, and somewhere is West Houston.

[snickers]

Suburbia really isn't a good investment....at least not on the whole....I'm sure some areas do great.  Problem with most of suburbia around here is there's always a newer ring of houses being built just past the latest subdivision, and why would anybody want to pay $120k for a used house, when $120k will get them a brand new one just up the road.....we have really no natural boundaries around here....its all flat, and ready to build houses on.

Inner loop is your best bet for appreciation....

<{POST_SNAPBACK}>

won't the sprawl eventually get so far out that it will not have the income base from those who work in Houston to support it - making the 'near burbs' more attractive and drive the price up? That is what seems to be happening around here ( chicago)....but chicago has the lake on one side so that limits the directions people can go to build. I have friends building a house 70 miles out of the city and still commuting to the city (i do not envy them!)...because they can not get anything for under 180 closer than that that is in a decent school district!! We bought our house 4 years ago...for 175k...we are 30 miles west of chicago..it is a 3bd raised ranch with 1/3 acre of land (A LOT around here!)...nothing too special...and it was just appraised at 280k because everyone is trying ot get back into the closer burbs!!

probably right about buying in the city though....that will always appreciate if a good neighborhood.

thanks ;-)

[ToolMan]

Snickers, I now have a pretty good friend that just moved from Chicago and he loves it. I would recommend moving close to the city, but it also depends on where you are working. Personaly I enjoy Galveston but would not want to live there. Too run down and poor, but there are some nice areas.

I would stay away from the HISD school district. If you are looking for good schools you would want to be out in the suburbs like Spring, Klien, Jersey Village, SugarLand and Kingwood....but be prepared to drive to work.

Try this link, it should give you some hints on what you are looking for.

http://www.houston-guide.com/guide/info/inforelocat.html

Oh, GO ASTROS!!!!

[westguy]

HISD isn't that bad. It has a much higher percentage of ESL students than the suburbs, hence the higher dropout rate.

[pineda]

Hot Texas Housing Market Squeezes Homebuyers

http://recenter.tamu.edu

News Release No. 75, August 2004

By David S. Jones, College Station, Texas

Texas homes have become noticeably less affordable. The estimated monthly payment (including escrow for taxes and insurance) needed to buy a median-priced home jumped by more than 9 percent during the 12 months ending in June.

Dr. Jack C. Harris, research economist with the Real Estate Center at Texas A&M University, says the culprit was a combination of rising prices and interest rates.

Harris tracks Texas housing affordability quarterly with the Texas Housing Affordability Index (THAI).

The index was .99 for second quarter 2004, the lowest it has been since the Center starting tracking affordability in 1989. It is also the first time the index dropped below 1, the level at which the median household income is adequate to qualify to buy the median-priced home. The .99 means the median income in Texas is 1 percent below this standard.

Over the past year, the median price of a Texas home rose nearly 3 percent to $132,300.

[snickers]

Snickers, I now have a pretty good friend that just moved from Chicago and he loves it.  I would recommend moving close to the city, but it also depends on where you are working.  Personaly I enjoy Galveston but would not want to live there.  Too run down and poor, but there are some nice areas.

I would stay away from the HISD school district.  If you are looking for good schools you would want to be out in the suburbs like Spring, Klien, Jersey Village, SugarLand and Kingwood....but be prepared to drive to work.

Try this link, it should give you some hints on what you are looking for. 

http://www.houston-guide.com/guide/info/inforelocat.html

Oh, GO ASTROS!!!!

<{POST_SNAPBACK}>

Thanks for the link - how is your friend adjusting to all the "warmth" down there? We planned on living outside of the city...normally city schools aren't that great...or at least in chicago they aren't.

My husband is a network consultant so we are guessing he will be working out of the city itself. I was in the tech field...right now my title is "mommy" so when i go back to work being close to the city might be a good idea. Although....being on the beach sure sounds good to me right now!!!

[snickers]

"While housing might be less expensive in Texas, incomes are lower" (from the posted article)

Really???? incomes are lower? We have been doing internet searches on jobs in houston for months now and they seem to be comparable to Chicago - at least in the tech sector. Now, we are comparing to Houston... this article was averaging Texas as a whole I guess. Yes? No?

Thanks for the article post!! I think what I got from all that is that we should move quicker!! Or maybe I am just thinking that because it already feels like fall here!!!

[ricco67]

I might have to agree that while city schools generally aren't the best in the world, it might be cost effective to go to private school. If you go to that route, let me know. I know some very good private schools in the city that you can drop the kiddos off on the way to work.

My sister is a graduate of "incarnate word acadamy" downtown.

Ricco

[ToolMan]

Thanks for the link - how is your friend adjusting to all the "warmth" down there?

[MelaineA]

Snickers,

Houston is big, very big. Don't get confused by the posts that pertain to only one area of the town. Yes, HISD is not the best district, however, it depends upon where you live. You don't have to live in Katy, Fort Bend county to get a good education. You don't have to go to private schools. Check out Spring Branch ISD. You can find a range of houses (from $150,000 - millions) and you can get an excellent public education. You don't have to drive (or have your husband drive) 45+ minutes each way every day. Check out the City of Spring Valley, 77055, City of Houston, 77024.

[pineda]

I have friends in Spring Valley as well. I didn't know there were any homes in the $150K range there. Their kids go to private school, so I can't tell anything about how the school district is. What schools (public) are the kids from Spring Valley zoned to? Is it true that because of the Katy Freeway expansion project that destroyed many businesses in the area, that the local resident taxpayers will be paying more taxes to make up for the loss of corporate tax revenue?

[debmartin]

"I have friends in Spring Valley as well. I didn't know there were any homes in the $150K range there. Their kids go to private school, so I can't tell anything about how the school district is. What schools (public) are the kids from Spring Valley zoned to?" (quote, pineda)

i can only tell you how it was 10 years ago when i lived there, but it's probably about the same. spring valley comprises a small area around I-10 and voss but shares the elementary school with the neighboring area. we lived in a small apt complex on pech rd. & westview, very well maintained by a private owner who lived on property. next door was valley oaks elementary - the school was ok but attended primarily by low income hispanic students from around the long point/wirt area and really bad mobile home parks further down westview. lucky for spring valley, their secondary students were strategically zoned across the highway to spring branch middle school and memorial high school, while the students where i lived (just a street or two away) were zoned down long point to langdon (hard core ghetto). also the bus running down westview is not allowed to pass through spring valley and must turn down pech road and travel long point for a giant detour. i also have friends who live in a fabulous home in spring valley and their children also attended private school, which is pretty much the norm. their home is at least half a million $$$ and i've never heard of a home in spring valley in the $150K range either.

debmartin

[Hunter]

I remember 15 or more years ago you could not give away any land on that island now they are selling it for incredible amounts. Watch another storm will come thru and property prices will crash again. So hold on to your money it will be much cheaper in a year or two, maybe more.

[bt12402]

I remember 15 or more years ago you could not give away any land on that island now they are selling it for incredible amounts. Watch another storm will come thru and property prices will crash again. So hold on to your money it will be much cheaper in a year or two, maybe more.

<{POST_SNAPBACK}>

[bt12402]

There are hardly any more bargains on the island anymore. Fixer upper home prices have increased greatly in the last 4 years, since I bought and restored our 1926 bungalow. I'd say these homes that have the construction to overcome hurricanes (as long as you are behind the seawall).

BT12402

Parttime Galveston resident.