BACKGROUND
The Greenwood Forest Subdivision was developed in the early l970's by Mac-Carey Properties. The prime builder in the area was Kickerillo Company, Vincent Kickerillo, President, then Greenwood Corporation, Don Hand, President, where they concentrated their efforts in the estate section of the subdivision. The remaining sections were built out by other custom home builders such as Barcelona, Bruce Walker, Earnest Roe and Nick Palermo, to mention a few. Greenwood is ideally situated just south of FM 1960W, only two miles from the intersection of Beltway 8 and State Highway 249 near Cutten Road, and one mile from Beltway 8 at Bammel-North Houston. Property taxes are among the lowest the area, with a tax rate of $2.290 per $100 of valuation in 1990. This includes about $0.560 for State and County taxes, $1.430 for school, $0.270 for the water district and $0.030 for Harris FPD 29.
SUBDIVISION LIFE
There are approximately 1700 homes in Greenwood Forest. It is in the Klein Independent School District, probably the best in Northwest Houston. A child can start in pre-school and not have to leave the subdivision until he graduates high school! All the public schools are located on the same street. These include Greenwood Elementary, Wunderlich Intermediate and Klein Forest High School. Greenwood parents are very involved in the Parent Teachers Organization and participate heavily in school programs.
The Greenwood Forest Residents Club (above) was started by a group of 700 residents in December l978 and has been an active club ever since. It has facilities for swimming, tennis and various social activities. In addition, it hosts a 4th of July Day with a parade and a Halloween Party for the entire community. Also quite popular is the Friday night TGIF party held at the club, better known as the Pit Stop. The membership is varied and is a great way for new residents to get acquainted. The club telephone is 281-444-3522 for membership information.
The Greenwood Forest Fund maintains the street lights, care of common grounds, mosquito spraying, security and medical services through Cypress Creek Emergency Medical. In addition, the Fund enforces compliance with covenants and deed restrictions. For inquiries, residents can call 281-444-8443.
The Harris County Water Control and Improvement District No. 109 is responsible for potable water and sewage in the subdivision. The Board of Directors is made up of 5 members elected by the registered voters of the district, and they meet on the second Monday of each month at 7:00 PM at the District Office, 5302 Old Lodge Drive. The meetings are open to the public. For billing and water information call 281-444-7442. For trash pickup information, call 281-880-2447, and to contact the District, call 281-444-8433.
The Greenwood Womans' Club was organized in l974 for the purpose of encouraging social activities and providing an outlet for the improvement of Greenwood Forest. Its regular meeting is on the second Thursday of each month. An annual fund raiser provides funds for several charitable projects in the area. There are also special groups such as Antiques, Books, Bridge, Gourmet, Lunch Bunch, Needlework and Happy Wanderers where members meet and share common interests. Any resident of Greenwood Forest is welcome to join.
The Greenwood Forest Home and Garden Club is open to all residents. The object is to aid in the cultivation of their gardens and encourage civic beautification. The Garden Club decorates Greenwood's entrances and postal boxes at Christmastime.
AMENITIES
The subdivision is nestled in the center of excellent shopping with both retail shopping and discount houses. In addition to strip centers adjacent to Greenwood, there are Willowbrook Mall, Willowchase Center and the Greenspoint Mall. There are many church denominations in the FM 1960 area, two of which are in the subdivision. Among the churches are Catholic, Church of Christ, Baptist, Episcopal, Christan Science, Jewish, Lutheran, Methodist and Presbytarian as well as non-denominational. Some twenty movie theaters are in the area, plus restaurants, night clubs, golf courses, both public and private, and three of the finest country clubs in Houston, Champions, Raveneaux and Northgate. At the entrance to Greenwood on Champion Forest Drive is the Klein Volunteer Fire Department. Finally, medical facilities are superb with both neighborhood medical centers and the nationally known Northwest Medical Center only six miles down the road!MARKET ANALYSIS
Median home prices have increased from a low near $80,000 in 1987 to the $100,000 to $110,000 range by the end of 1989. In 1990, median prices ranged from $100,000 to $160,000. In 1991, median prices range from $100,000 to $130,000 range. On the low end, prices in the $90,000's still prevail. On the upper end, most sales remain below $200,000, with a dozen or so in the $200,000 to $400,000's during the past several years. Statistically, prices have risen from $37/sq ft of living area in 1987 to $42/sq ft by the end of 1989, then softened to $40/sq ft by mid '91. The average price per sq ft has not made an appreciable change over the past three years. It rose, then fell during the period!By the year 2000, home market valuse have climbed steadily. Current valuse are shown on the charts at the top for the two most recent years. Indications are that appreciation may be expected in the foreseeable future due to:
Generally improving economic conditions in the area.
A perceptible impact which COMPAQ computers is hav- ing on the area, both direct and indirect, real and psychological.
A significant drop in mortgage rates which remained in the 8% per annum rate for 30 year mortgages by the end of the millennium.
The near completion of major road improvements surrounding Greenwood; namely, Champion Forest Drive extension south from Greenwood, FM 1960 West widening, the new Beltway 8 and the widening of Bammel-North Houston.
FUTURE PROJECTIONS
Crystal balls are always cloudy. Nevertheless, the future for Greenwood Forest looks positive. The only deterrent to rapid price appreciation is that Greenwood homes are older than the average FM 1960 West subdivision and competitive new home construction went into full swing in 1991.The completion of FM 1960 widening combined with an improving economy give rise to property value optimism. Although the most rapid market appreciation is expected in (1) Lakewood, (2) Champion Forest, (3) Memorial Northwest, (4) Champions/Huntwick and (5) the Wimbledon area ~ those prestigious subdivisions nearest COMPAQ ~ we expect Greenwood to appreciate thereafter with greatest gains expected when the impact of Beltway 8 and Bammel-North Houston completion is fully realized for further commuting efficiency.
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