04/24/08 11:00am

Bear Creek Meadows, Katy, Texas

A story by Paul Knight in this week’s Houston Press adds a little color to the Houston foreclosure map:

Houston’s 77449 ZIP code, on the northwest side, made the top 100 in the nation for 2007. The area saw rapid growth in the early part of the decade, with retail strip centers and a sea of new homes popping up almost overnight.

“They started developing that area really aggressively,” says Erion Shehaj, a Houston realtor who specializes in foreclosed homes. “Like clockwork…[foreclosures] have been popping up one after another, because they were pushing them to people that couldn’t really afford them in the first place.”

Large signs are now planted along the roadside, advertising housing deals such as “Inventory Clearance!” and “Closeout Specials.”

One subdivision in the area that was hit particularly hard is Bear Creek Meadows. The neighborhood was developed about five years ago, with houses priced in the $120,000 range and marketed to first-time buyers.

Below the fold: More on Bear Creek Meadows, plus a few photos to illustrate Knight’s reporting on foreclosure cleanups.


01/15/08 9:55pm

Four Homes by Legend Homes for Sale in Bear Creek Meadows

The wave of foreclosures sweeping over neighborhoods at the outer edges of town has . . . an upside!

Remember back when these neighborhoods were new — like, four years ago? Well, for buyers it’s just like those good old days all over again . . . only cheaper! That’s right: if you’ve settled on one builder model, you can be pretty picky about which upgrades and finishing touches you really want — even though the builder has moved on.

If you’re shopping for a home in Bear Creek Meadows in Katy, for example, you’ll find the four distinct residences pictured above listed on MLS. That’s right, those are four different houses. But they’re all the same model — The Cairns, Plan 509, by Legend Homes — and they’re all resales!

Which one is right for you? Clockwise from top left, the contenders are: 19411 Billineys Park Dr., 19606 Ballina Meadows Dr., 19906 Brisbane Meadows Dr., and 19510 Buckland Park Dr.

After the jump, a look at the differences between these four newish but back-on-the-market homes!