Forbes.com has released its best and worst real estate zip codes based on price
appreciation. Helping to complete the bottom five in the nation was zip code 77056 near Tanglewood.
ZIP Code: 77056
2005 Median Sales Price: $335,160
Total Price Appreciation 2003 to 2005: -16.8%
Appreciation for New Homes: -33.7%
Appreciation for Existing Homes: -5.9%
Live oaks are a trademark of the Tanglewood neighborhood, one of the most desirable in Houston. Grand mansions and trimmed lawns are common too, but this established neighborhood hasn't exactly seen home values soar in the past two years.
The boulevard entrance to the Tanglewood subdivision is located in the shadows of the Galleria area. Huge towering trees line the streets of this prestigious neighborhood that once was recognized by the National Association of Home Builders in Washington, D.C. as one of the five best planned subdivisions in the United States.
Tanglewood was born in the mid-forties when the William Farrington Company purchased 300 acres west of the Houston city limits from the Humble Pipeline Company which is now Exxon. Several years later, an additional tract was purchased and Tanglewood grew to include an area north of Woodway, which today is referred to as the “new section.”
Tanglewood consists of 15 sections. However, Section One, just off Post Oak Lane, was one of the first areas developed. In 1949, seven newly built homes touting air conditioning and 32 lots were listed for sale. At that time, this neighborhood was declared the most air conditioned subdivision in the Southwest.
Residents of this area enjoy the benefits of the stringent deed restrictions that govern front and side property setbacks. Additionally, prior to building, new construction plans must be approved by the Architectural Control Committee.
Tanglewood is home to the Houston Country Club. In 1954, the land for the club was purchased. However, an additional 125 acres was needed for the golf course, so the land was acquired from the Bering family.