Do any of you real estate gurus have any general idea of what empty lots are going for in Garden Oaks? I'm interested in finding a lot to build on in that area. There aren't too many empty lots listed. I have seen a few possible tear-down houses, but I don't know if they're placing any value on the house or not.

it really depends on the area. there are some streets that are more desirable than others. In general, I would say the nicer lots that exceed 10,000 sqft are getting around $20/sqft.

Thanks for the quick response, Diggity. That's pretty much what I needed to know. What side of the business do you fall on?

I concentrate on residential real estate in that general area. I love those lots larger lots in Garden Oaks. I can really picture that area turning into the next West U. There's just not a lot of places that close in with nice high lots like GO.

let me know if you have any more questions

intownrealty@helpusell.com

What is your opinion Oak Forest and Timbergrove? I've been looking to purchase some property in this area for some time now. The large lots over in Garden Oaks are nice! I think that whole area (northwest 610 loop) will do well in the upcoming years.

It's a good investment. However, I wouldn't want to actually live there - just own investment property. Too many high crime pockets close by.

i lived in garden oaks for three years and recently moved. the area is the most undervalued section near downtown that is still a neat neighborhood.

good luck finding a lot over there. there are a few tear down homes, and i know of a few homes on sara rose street that have been empty for awhile, and the owners are just letting them fall into disrepair.

Garden Oaks is literally a stone's throw from Independence Heights. Drive through that hood some time and you might have second thoughts about Garden Oaks. Admittedly, I do not know too much about crime in GO, but I do know that IH is a really, really rough neighborhood.

Thanks for your input guys! I've been looking in the Heights and Garden Oaks areas. Are there any other areas that are very close in that I should consider? My girlfriend lives in the Hilshire Village area and I've looked around there a little, but prices seem to be a little more inflated than the other two.

If you're looking in those areas, try Shepherd Forest (may have spelled Shepherd wrong). It's located right next to Oak Forest and actually a little closer into town. It doesn't seem to be as well known as Timbergrove or Oak Forest, but I can't see any reason why it won't become an up-and-coming area. Some of the realtors on here can correct me if I'm wrong, but I think its probably a good investment.

You might also search in Lazybrook, which adjacent to Timbergrove.

Also check on HAR.com for homes in Afton Village, which has similar homes as Timbergrov and Oak Forest. It is located off I-10 just outside the loop.

[This message has been edited by TomDoss97 (edited 11/21/2006 10:06a).]

Shepherd Forest is a lot more like Oak Forest than Garden Oaks. The lots are generally smaller and much less expensive. It's also predominately original construction as opposed to the new construction thats occurring in Garden Oaks.

I like Shepherd Forest for what it is, just wouldn't put it in the same category as the Heights/Garden Oaks.

nice area, good value. It will not be the next West U for a number of reasons:

1. location - West U is close to downtown and the Medical Center - translates into lots of docs/lawyers/ investment bankers. Garden Oaks is not close enoghh to the Medical Center to capture the docs.

2. Garden Oaks is part of Houston - which means Houston city services. West U is it's on city with outstanding police, fire, city services.

3. Garden Oaks right now is surronded by some very iffy areas. West U not so much if at all.

Garden Oaks will appreciate in value, but it's not going to be West U now or in the near future. The stuff that will be more West U like is Braes Heights, etc.

n/m



[This message has been edited by Diggity (edited 11/21/2006 11:46a).]

Your first point I agree with. Obviously Garden Oaks is not going to incorporate and start its own city services. I certainly wasn't going to suggest that. West University will always have that going for it.

I have to take some exception to your other comments though. It's a transitional area, so of course it's going to be surrounded by "iffy" areas. If this weren't the case, the lots would already be going for higher. As property values rise in that area, you will see gentrification take its course.

As far as your comments about Doctors living in the area, there probably won't be as many, but there are plenty of other professions in the city that can support expensive property expansion.

Garden Oaks also has larger lot sizes for the most part than Braes Heights, but if new homes in Garden Oaks eventually start averaging ~900K, that still wont' be a bad thing for residents

what? ... Garden Oaks "the next West U"?

LOL

Seriously...go to Garden Oaks and then drive acorss Yale. Just steps from the future West U you are in Independance Heights, which is more than just a "transitional" area. It is a complete ghetto. Due to its location, you would think it would gentrify at some point, but it is nowhere close to doing so now. There are very few, if any, neighborhoods in Houston as bad as IH. Drive through it sometime if you don't believe me.

I'm not paying $900K to live within walking distance of that.

Texas Tea--

Garden Oaks about $16 to $18 per square foot

compare to West University about $57 to $62 per square foot

Don't mock me just because you don't have my vision!

Thanks 86. Based on that alone, it would appear that Garden Oaks has a long ways to go before it becomes the next West U. If I buy in Garden Oaks though, I guess I'd settle with it becoming say, about half of a West U.

Don't get me wrong.

Garden Oaks definitely has potential. Right on the Loop, bigger lots, increasing property values, mature tall trees, with a fair amount of renovations taking place.

Ok so hypothetically speaking if you were in your twenties looking to invest in some property that would also be your first home, do you think the areas listed above are a wise choice? I seem to be leaning more towards Timbergrove/Lazybrook since its inside the loop. I'm looking for close proximity to town, budget ~200k, and do not want a townhome. What other areas should I be considering?

I recently bought in GO because I do believe that it will appreciate; but I am looking a decade down the road. We have a 3-year old and there are about 10 kids her age on our block. The people in our area are generally younger with kids. I think that if you are looking at a first home it might be a good place to look. IH is not that great an area, but check out the Garden Oaks website and pull up the recent Garden Oaks newsletter. It shows crime statistics in it and they are not that bad.

Also, take a look at the planned construction in the area and the refurbishments that are taking place at places like the Kroger. They recently upgraded the exterior and are redoing the interior. Talking to the manager, he told me that they were upgrading because the area is upgrading. We are getting a new strip center next to the Kroger that will reportedly have a Starbucks, a Skeeters and a "high-end" restaurant (rumor is that it is a Ruggles Bakery). None of those are really great or a sign of gentrification or anything, but I take it as a sign that businesses are starting to notice the area.

New homes being built are large and nice. I can't see losing value on the house I bought. We moved from an area where the lot was worth 20k and the house worth 150k to an area where the lot is worth 120k and the house 80k. There is a 3k sq ft difference in lot size, but that doesn't account for the dramatic difference in land value. The value is definitely in the land here.

If you look in Timbergrove, keep in mind that a lot of that area floods when it sprinkles. I have a cousin that lives there and loves it. However, when the wife and I were looking we kept seeing houses that had been rebuilt from the studs, a sure sign that TS Allison got to it.

Lazybrook is nice and does not have the flooding issues that TG has, but some of the areas are nicer than others. It is like any neighborhood in that respect, I guess.

We have family and friends living all around here in GO, Oak Forest, Shepherd Park Plaza, Shepherd Forest, Timbergrove Manor, Lazybrook and the Heights. I can't think of any one of those that I wouldn't be willing to live in.