Gregg And Cline Area

[knmiller]

Hi everyone,

I found this website by doing a search for crime rates in westside Houston.

I have a friend that lives in the in-town homes subdivision at Gregg and Cline St. He's been renting there along with 2 roommates for 4 months and he says that he absolutely loves it. The subdivision has sold out, but almost across the street, Juliet homes is building some town homes that are very nice. Also, along Clinton, intown homes and juliet are building more townhomes.

I've been reading comments regarding this part of town, but they seem to be outdated. I just wanted to hear your views on this side of town now. I'm looking to buy a home as an investment and my friend says that he is thinking about buying a townhome there because he expects them to go up in value within the next 7 years.

I did a quick search on zillow (yes, I know its not a professional tool) and it shows that the property value has increased dramatically, a lot more than other areas that I'm looking at.

Just wanted to hear you thoughts,

Thanks in advance

[jm1fd]

I did a quick search on zillow (yes, I know its not a professional tool) and it shows that the property value has increased dramatically, a lot more than other areas that I'm looking at.

You've missed out on the biggest value jump. When an area goes from ghetto or industrial to upscale townhomes, there's a huge jump in value. By the time a townhouse has gone up, somebody has already pocketed most of the value increase. There might be some more value increase as it matures, but I don't think you're going to see any more increases like the astounding value jump you're referring to on Zillow.

[hokieone]

I think that area will continue to grow. I was talking to one of the sales reps from intown to catch up on things and really, no more than 2 years ago, that first phase of intown started at around $150-160K. That same size home, with obviously some improvements, but about the same size now sells for $210K when newly constructed. Does it mean the very first people there can sell for that same price? Obviously not, if its the same people will take the new construction. That being said, as long as they continue to build and grow, and price keep moving up, obviously there will still be appreciation.

Just consider that those 4 story monsters they are selling are around $350K and I think they only have a few left. who would have thought 5 years ago homes would be selling there for over $300K in a few years?

[Scharpe St Guy]

First off the East Side of town has a lot going for it and the Trains going against it. Other then the Trains it's a great place to live. In regards to pricing from 2 years ago to pricing today there are a few factors to consider:

1. Yes price would go up as the area sheds it's prior reputation and becomes the new, nice, place to live.

2. Construction costs though have skyrocketed across the board for everything from concrete, insulation, sheetrock, wiring, etc.. so a good chunk of the increase is not profit just the need to build a home and hopefully not lose money on it.

3. This area directly outside of Downtown is becoming quickly satuarated with townhomes and the like with no real thought about infrastructure, parks, shopping, etc...

Townhomes are great however the real increase will be those areas just past the new builds where building has not yet started and in the form of a nice older (50+) year old home. Quite a few of these homes are being restored and brought back to life and the ability to have a lot of approx 6,000sqft with garage and a good size home for quite a bit less then the cost of a new townhome would make more sense.

Good luck but it is a great side of town.

Scharpe St Guy

I think that area will continue to grow. I was talking to one of the sales reps from intown to catch up on things and really, no more than 2 years ago, that first phase of intown started at around $150-160K. That same size home, with obviously some improvements, but about the same size now sells for $210K when newly constructed. Does it mean the very first people there can sell for that same price? Obviously not, if its the same people will take the new construction. That being said, as long as they continue to build and grow, and price keep moving up, obviously there will still be appreciation.

Just consider that those 4 story monsters they are selling are around $350K and I think they only have a few left. who would have thought 5 years ago homes would be selling there for over $300K in a few years?