First-timer looking for advice on Houston/Meyerland area

[Kerwell Liao]

Hi everyone, I'm new to real estate but am interested in getting involved. I grew up in the Meyerland area of Houston, TX, an area that has been devastated with flooding in the past 2 years (it wasn't a flood zone before then). Many homes in the area are currently being lifted, or have been torn down for new construction. Yet some people have opted to simply repair the damage, since the city is making efforts to widen the bayou nearby. I have a few questions: - What do you all think about buying property in this area? Property values are really low right now due to the recent floods, but the homes are zoned to great schools. Will the new, bigger homes in the area push the property values up again within the next 5 - 7 years? - What's the rental market like for this area? I'm concerned that there may not be many people looking to rent in the area, since the homes tend to be on the larger side. If next year comes and goes without homes in the area being flooded, will that be enough to make people forget about the past few years and have more confidence in living in the area?

[Fred Heller]

If you're considering Meyerland for investment property my opinion is that it's a terrible area for investment. Prices are so high there that the rent you will receive will not justify the price you pay for the property. The only way to make a decent return in Meyerland is to inherit a property.

The same is also true for neighboring Westbury and Willowbend.

Regarding the flooding, I saw a show on channel 8 a few months ago which had experts talking about the flooding situation. They said the city completed the Brays Bayou flood control project down to about 610. But they don't have the money to complete the project past Meyerland. So the Medical Center is safe from flooding, but all that water now comes out in Meyerland. And that's why Meyerland is now a flood-prone area when it wasn't before.