Ponderosa Forest Subdivision
BACKGROUND
The Ponderosa Forest Subdivision was developed in the early l970's by the kickerillo Company. Kickerillo was also the prime builder. The remaining sections were built out by other custom home builders. Ponderosa is ideally situated just north of FM 1960, only two miles from the intersection of Beltway 8 and I-45, less than a mile from I-45 and adjacent to the renown Houston Northwest Medical Center. Property taxes are among the lowest the area, with a tax rate of $2.740 or $2.320 per $100 of valuation in 1990. This includes about $0.560 for State and County taxes, $1.510 for Spring Independent School District, $0.670 for Ponderosa Forest Utility District or $0.250 for Harris County WCID #91, depending upon which utility district serves the property.
SUBDIVISION LIFE
There are approximately 1235 conventional homes in Ponderosa Forest plus some 85 patio homes. It is in the Spring Independent School District, one of the best in the area ~ especially for special education needs! All the public schools are located nearby. Ponderosa Elementary is in the subdivision. Bammel Middle and Westfield High Schools are located in close proximity just to the south of FM1960 on Ella Boulevard. Ponderosa parents are very involved in the Parent Teachers Organization and participate heavily in school programs.
The Ponderosa Forest Maintenance Association 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 537-6402 (east) or 440-3944 (west).
The Ponderosa Froest Utility District and Harris County WCID are responsible for potable water and sewage in the subdivision. The Board of Directors is made up of members elected by the registered voters of the district, and they meet regularly. The meetings are open to the public. For billing and water information call 538-6402 or 440-3944. For trash pickup information, call J&S Trash Service, 449-0894.
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 Ponderosa, there are Willowbrook Mall, Willowchase Center and the Greenspoint Mall. There are many church denominations in the FM 1960 area. 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 Ponderosa is the Ponderosa Volunteer Fire Department, one of the finest in the area and especially well trained for high altitude rescue (water towers, skyscrapers and the like). Finally, medical facilities are superb with the nationally known Houston Northwest Medical Center just outside the subdivision!
MARKET ANALYSIS
Median home prices have increased from a low near $80,000 in 1987 to the $100,000 to $120,000 range by the end of 1990. In 1991, median prices ranged from $95,000 to $145,000. On the low end, prices in the $60,000's to $80,000's still prevail, but primarily in the patio homes. On the upper end, most sales remain below $200,000, with a few sales annually above the $300,000 and $400,000 range. The upper range homes are primarily near the north end of Ponderosa Forest in the flood plain where the building sites are large and homes are built to above the 100-year flood plain. Statistically, prices have risen from $38/sq ft of living area in 1989 to $40/sq ft by the end of 1990, then softened slightly below $40/sq ft by the end of 1991. The average price per sq ft has not made an appreciable change over the past three years, but the trend has been pointing slowly upward!
Indications are that appreciation may be expected in the foreseeable future due to:
Generally improving economic conditions in the area.FUTURE PROJECTIONS
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 9 to 10% per annum rate for 30 year mortgages during the '89 to '91 period and below 9% in latter '90.
The near completion of major road improvements sur- rounding Ponderosa; namely, FM 1960 West widening, the new Beltway 8 , the widening of Kuykendahl and the completion of Cypresswood Drive in late '91.
Crystal balls are always cloudy. Nevertheless, the future for Ponderosa Forest looks positive. The only deterrent to rapid price appreciation is that Ponderosa Forest homes are older than the average FM 1960 West subdivision and competitive new home construction in surrounding areas 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 Ponderosa to appreciate thereafter with greatest gains expected when the impact of Beltway 8, Kuykendahl and Cypresswood Drive are fully realized for commuting efficiency.
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