Will the Home prices in Cinco Ranch Katy Go down?

[LJarrett]

South Katy was one of the only areas to appreciate as a whole in all of Houston over last year. I don't see prices going down, but it sounds like you want to save on a new home. Make an offer at the end of the builder's fiscal year and maybe go for an inventory house that is already built that they are trying to unload. You will get many more incentives/discounts. The builders don't want these to be on their books for long. If you are planning to build, don't expect the base prices to go down. They may stay the same, but they won't go down. There's a reason why you want to live in Cinco Ranch, so you gotta think that you're not the only one with the idea. Don't expect prices to drop in a place like that.

[case44]

Originally Posted by LJarrett

South Katy was one of the only areas to appreciate as a whole in all of Houston over last year. I don't see prices going down, but it sounds like you want to save on a new home. Make an offer at the end of the builder's fiscal year and maybe go for an inventory house that is already built that they are trying to unload. You will get many more incentives/discounts. The builders don't want these to be on their books for long. If you are planning to build, don't expect the base prices to go down. They may stay the same, but they won't go down. There's a reason why you want to live in Cinco Ranch, so you gotta think that you're not the only one with the idea. Don't expect prices to drop in a place like that.

I wouldn't expect prices to go down. Not when more people are still moving in.

[Jammie]

Some cities will fare better in a recession - Buying a House - MSN Real Estate

[K8T]

We were looking in Cinco Ranch this past weekend and were told they would be building for the next 5 - 7 years. We were told the next phase would have the same home models, but at a more expensive price. This might just be what they said to get us to buy NOW...but regardless, thats what we were told.

[chris_ut]

They always say prices are going up. Sometimes they do and sometimes they don't.

[usc619]

Originally Posted by chris_ut

They always say prices are going up. Sometimes they do and sometimes they don't.

Bingo, I can't understand what part of this people don't get LOL

btw, I live in South Katy(just outside of Cinch Ranch), I make it a point to keep up with what's going on over there.

[starkeshia]

Originally Posted by case44

Guys, please remember that Houston isn't just about oil. Far from it, in fact. Just because oil prices go down does not, in any way, mean that the Houston area is going downhill. There are other factors in the city's economy like medicine, banking, aeronautics, manufacturing, and technology, so there's plenty to keep the area afloat. They still are a big destination for business and the big corporations are staying right here. I'm not at all worried about Katy and Cinco Ranch and neither should you be.

Horse pucky. Everything you read concerning how great our local and state economies are doing mentions the high price of oil as one of the major factors. Energy and energy related companies still have the biggest piece of the pie as far as the local economy is concerned, and it will remain that way for the forseeable future. The local economy is going to falter if the price of oil stays where it is for a while or slides further.


Now...to answer the OP's question....history has shown that a majority of the houses built way out there in suburbia will basically just keep pace with inflation over the long haul, and when you factor in maintenance and taxes and interest it is a guaranteed money losing proposition. After all....why would I want to buy your 5-10-15 year old house when I can go 5 minutes up the road and have a brand new energy efficient one?

[brownybaby]

Originally Posted by LJarrett

South Katy was one of the only areas to appreciate as a whole in all of Houston over last year.

I know several areas that appreciated - all in town, though.

[FalconRanch1]

You need to buy, Now with interest rates at historic lows, It would be a great time to buy in Cinco Ranch, I drove by there about a week ago and MAN!!! It is simply AMAZING what they have done in 3 months! I drove by and almost got lost, Houses everywhere, what amazes me is that Cinco is still hauling a** and building like crazy!

[wescovy]

We bought a home in the Sedona Section of Cinco SW (moved in July 2007) and the model that we bought went up about 11k in a year+. Most home builders do not decrease the base price of the product. Instead they raise prices, and give more $ incentives during the winter time. They do this because the $ incentives can be used at the company's DESIGN CENTER.

In playing this game the home builder keeps values up even if they are subsidizing this with DESIGN incentives. I asked for an extra 3k in design incentives. I do not believe builders would go down in price but they are willing to "fudge" in other areas.