My husband and I were in your exact situation 10 months ago. And, after doing extensive research in each of these areas we decided to purchase a home in Olde Oaks. We got $3000 sqft, a pool, landscape lighting, a sprinkler system, updated kitchen, new paint, new carpet, alarm system, 30' foot ceilings, and cherry hardwood floors for $46 a sqft! The catch was qualifying for a conventional loan, which allowed us to purchase a foreclosure as is. There was $2500 worth of termite damage in one room which prevented people with FHA and VA loans from passing inspection from their lenders. Conventional loans give you much more freedom when buying. There are a lot of custom features in Olde Oaks. We like the detached garages, friendly neighbors and mature trees. The reason they are so inexpensive has to do with: the school district, economy, age of the neighborhood. Some parents are not happy with Spring ISD. Memorial NW might be a better option if you have teenage kids. In 2000, Olde Oaks was featured as one of the best places to live and several young people moved in over the next few years and ended up with mortgages that they couldn't handle, hence the foreclosures. This neighborhood is nearly forty years old. Many of the original owners are downsizing because their kids have grown up and moved out. Olde Oaks is a wonderful community. It is nestled between Northgate and Champions, two very nice communities. I don't think we are missing anything...I just think we are fortunate to be buyers in buyers market. Hope this helps! We love our home and our neighbors.