COMMENT OF THE DAY: THE AGE OF APPRECIATION “[In] my humble observances, I have noticed that the new construction only maintains plateau value or loses it while the older homes in the area gain. Sure, many homes may be sold for lot value, but if you buy a 60 year old home vs a 5-10 year old home, the difference is relative. (See low-end River Oaks, West U, Bellaire, Heights, Braeswood, etc). In the Heights, the kept-up bungalows outpace the new-builds (on a square-footage basis) by far. They also sell in a few days (with many offers) vs months.” [justguessin, commenting on Swamplot Price Adjuster: $2 Million Plus In Town]
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If I’m understanding this, you mean…that buyers do not want their home to look just like ALL the other factory processed homes on their block?
Because lord knows those Heights bungalows aren’t factory processed homes (sarcasm)!
The Heights bungalows were the original repetitive tract home in Houston. And for all the buzz, in the end the Heights is just another master plan community that became part of Houston.
This doesn’t mean any ill will for the Heights, but it should be recognized for what it is.
But you’re comparing the price per square foot when the sizes of the houses are doubled or maybe tripled. If the value of the land is the same in both cases, the percentage impact on the price per square foot is much different for a small house versus a large house.
I wouldn’t say I appreciate it! With 14 years and running of 10% increase in property valuation, and ergo taxes, I’m watching all my Heights neighbors who well outdate me be forced to sell.
Taxed out of your home by the government – that’s morally reprehensible and should be illegal!
people get tired of hearing folks complain about taxes you know. hate to single you out, but due to the environment we’re living in these days it’s getting really old.
you’re not being taxed out of your home and never will be. you may be getting taxed out of the area (and thus have to find a new home) but that’s due to numerous factors that have absolutley nothing to do with the gov’t.
we all make a personal choice to pay high property taxes by living in TX.
A word of advice to Bill Shirley:
If you bought a house in the Heights 14 years ago for $150,000 and it has appreciated in value 10% each year as you state, perhaps you should just be happy that your home is now worth $517,841. Instead of complaining about your annual property tax bill, why not be happy with your $367,841 TAX FREE profit.
If you REALLY can’t afford to pay your taxes, I’m sure there’s a lender out there that would be happy to give you a home equity line of credit to pay your taxes. You’ll likely never have to come out of pocket with another penny in to pay the tax man.
Once again, kjb434 isn’t right. Yes, the Heights was a planned community, but the developers simply sold the land – people used their own architects and builders and the area took about 20 years to fill in, there was no cookie cutter styling going on here.