COMMENT OF THE DAY: THE $1 MILLION PROBLEM WITH RIVER OAKS MID-CENTURY MODERNS “River Oaks MCMs *always* go for lot value and get torn down. Sentimental owners think they should get a premium for the good architecture but it never happens. If they really care about the building they should price it at 900k and put a no teardown easement on it. Instead, they will lower the price by 100k every 3 months and 3 years from now it will be a Tuscan villa. (As a point of comparison, 59 Tiel Way, a Kamrath beauty which had a much larger, insanely off the hook lot, bigger, nicer, renovated house, was similarly priced – for 3 years he lowered the price slowly, and eventually was offering it on Ebay for 950 minus commission. No one bit and now, sadly, it is a clay lot that will likely sell in the mid 800s). Another comparitor is the MCM on North BLvd, also priced like this, slowly reduced for 3 years, now at 899k until the listing expired again. People like to admire MCM architecture but they don’t like to pay $1M for it. In Houston, at least.” [CAHBF, commenting on 1960 Preserved: River Oaks Mod Box Jumps into the Market]