Price Adjuster

77003, Buildings for Sale, East Downtown, Foreclosures, Land for Sale, Price Adjuster, Townhomes

05/24/10 2:25pm

Swamplot Price Adjuster: Riverside Terrace Nice, or Just Nicey Nice?

Interiors, Price Adjuster, Riverside Terrace

27 Comments

Location: 2412 Wichita St., Riverside Terrace
Details: 3-4 bedrooms, 3 1/2 baths; 3,400 sq. ft. on a 10,200-sq.-ft. lot
Price: $729,000
History: On the market for almost 8 months. Price cut $21K at the beginning of May

A reader who lives in the “crazy quilt of a neighborhood” of this Riverside Terrace listing thinks this recently remodeled home dating from 1946 is worth considerably less than it’s going for:

Priced, as you can see, at just under 3/4 of a million (!) in a neighborhood where homes sell for around 200K on average. What? I mean it looks nicey nice and all, but not THAT nice.

Or is it? “It looks great in person,” admits our correspondent, after a quick drive-by. Did you catch those front doors, “replicas of those at the Chinese Embassy”? Or . . . what’s behind them?

77004, Homes for Sale, Interiors, Price Adjuster, Riverside-Terrace

05/19/10 10:02am

Swamplot Price Adjuster: The Heights of 2-2ness

Houston Heights, Price Adjuster

49 Comments

Location: 1447 Oxford St., Houston Heights
Details: 2 bedrooms, 2 baths; 1,498 sq. ft. on a 6,600-sq.-ft. lot
Price: $421,500
History: On the market since the beginning of last December. Price cut $5K in mid-April.

How long could Swamplot readers go without some good old-fashioned price-sniping in the Heights? The latest submission for the Price Adjuster focuses on this little 1920 home on the corner of 15th St.:

Thereâ€™s just so much a 2/2 can go for in the Heights. Also, it has no garage. The kitchen has been updated but itâ€™s not a nice kitchen. Nice backyard for sure with trellis and a bit of storage, but at the end of the day, itâ€™s still a 2/2.

Well, then . . . what price would sell this place?

77008, Homes for Sale, Houston Heights, Price Adjuster

05/10/10 2:02pm

Coming Down from the Heights: How the Swamplot Price Adjuster Works

Houston Heights, Price Adjuster, Price Reductions

No Comments

Whatever happened to that little Swamplot Price Adjuster feature — you know, the one where readers report on a property for sale that appears to need some pricing correction, and suggest a better price for it? It’s still waiting for your smart submissions! In the meantime, here’s some evidence that it actually works:

Last November, when a reader nominated the 1920 house perched on an 8,200-sq.-ft. lot at the corner of 10th St. and Cortlandt in the Heights, a bunch of you wrote in to suggest that the list price was a bit steep. The nominator gave a target:

Asking $600,000 for this is a joke and I think it should be at the most $350,000.

By December, the price had been lowered to $450K. And then, by late March, the house was gone from MLS. What’s happened to it since?

You guessed it: A brand new listing appeared at the end of April, with a new set of photos and — what? Is it listed at $350,000 now?

77008, Homes for Sale, Houston Heights, Price Adjuster, Price Reductions

01/04/10 9:33am

Swamplot Price Adjuster Price Adjustment: Down 25 Percent!

Houston Heights, Price Adjuster, Price Reductions

No Comments

A reader brings our attention to a little adjustment that’s been made to the asking price of the property at 301 E. 10th St., a house in the Heights that was the focus of a Swamplot Price Adjuster feature a couple of months ago. With the apparent encouragement of many of our readers, the price was cut from $600K to $450K — just before the end of the year. Any takers now?

If we’re going to feature more properties on the Swamplot Price Adjuster in the coming year, we need your nominations! Find a property you think is poorly priced? Send an email to Swamplot! Be sure to include a link to the listing or photos. Tell us about the property, and explain why you think it deserves a price adjustment. Then tell us what you think a better price would be. Unless requested otherwise, all submissions to the Swamplot Price Adjuster will be kept anonymous.

301 E. 10th St. [HAR]
Swamplot Price Adjuster: Priced in the Heights [Swamplot]

77008, Homes for Sale, Houston Heights, Price Adjuster, Price Reductions

Home Prices

11/09/09 12:47pm

Swamplot Price Adjuster: Last Resort in Montrose

Homes for Sale, Hyde Park, Montrose, Price Adjuster

31 Comments

The Swamplot Price Adjuster needs your nominations! Found a property you think is poorly priced? Send an email to Swamplot, and be sure to include a link to the listing or photos. Tell us about the property, and explain why you think it deserves a price adjustment. Then tell us what you think a better price would be. Unless requested otherwise, all submissions to the Swamplot Price Adjuster will be kept anonymous.

Location: 1206 Hyde Park Blvd., Hyde Park, Montrose
Details: 3-4 bedrooms, 3 1/2 baths; 3,680 sq. ft. on a 10,100-sq.-ft. lot
Price: $1,199,999 [corrected from before]
History: On the market for 7 weeks

All the fine furnishings in this 1920 Montrose mansion didn’t sway the Swamplot reader who nominated the property:

“River Oaks living in Montrose”? Certainly River Oaks pricing in Montrose!

Given the location, the neighborhood, and the house itself the HCAD appraisal of almost $700k seems excessive. . . .

This house was sold in 2004 per HCAD, and the 2005 valuation was $563k – my guess is that is very close to the sale price.

The 2009 valuation of the house is about $700k. All the neighboring houses are about $300k in value. The neighborhood average is well under $200/sq ft (a beautiful house, fully restored . . . on Harold recently sold for about $200/ft on a similar sized lot)

And a better price for this property would be . . . ?

77006, Home Prices, Homes for Sale, Hyde Park, Montrose, Price Adjuster

Home Prices

11/02/09 1:26pm

Swamplot Price Adjuster: Priced in the Heights

Homes for Sale, Houston Heights, Price Adjuster

16 Comments

Location: 301 E. 10th St., Houston Heights
Details: 2 bedrooms, 2 baths; 1800 sq. ft. on an 8,200-sq.-ft. lot
Price: $600,000
History: On the market for 6 weeks.

A reader thinks this property is overpriced:

. . . even if it is lot price at 8,200 sq ft – listed for $600K it’s about double the price – I’ve seen 10,000 sq ft lots go for $325,000 (May 09). For a lot in the Heights it’s too high – yes it’s a corner lot – but there are no curbs on the street and it’s right near a church. To keep the house for a “conversion” as suggested would be too high as the house doesn’t even have central air or heat.

What would be a better price?

77008, Home Prices, Homes for Sale, Houston Heights, Price Adjuster

Binglewood

10/26/09 11:23am

Swamplot Price Adjuster: The Path from Spring Branch to Binglewood

Home Prices, Homes for Sale, Price Adjuster, Schools, Spring Branch

2 Comments

Location: 3122 Mona Lee Ln., Binglewood
Details: 4 bedrooms, 2 1/2 baths; 3,894 sq. ft. on a 10,018-sq.-ft. lot
Price: $234,500
History: On the market since mid-September

This person who’s nominating this home writes:

Binglewood? Binglewhere? Wherever it is, this is a great neighborhood to walk in. As my spouse and I have strolled past this house over the years, we’ve called it The White Elephant. It’s a charming elephant from the front, but it’s been way over-improved for the neighborhood. Before the large addition, it was a 3 bedroom, 2 bath and was probably around 1700 square feet. Now it’s a 4 bedroom, 2 1/2 bath, and almost 3900 square feet. Almost no one else in the neighborhood has added on. The addition at the back is quite graceless, the pool won’t add any value, and the entire rest of the back yard is concrete.

There is no cache to living in this neighborhood. When we moved in, more than one person said to us: “Oh, Spring Branch. That area used to be nice.” We love it here, but are under no illusion that other people will. The school district is great, but the neighborhood is zoned to Edgewood, Northbrook and Northbrook – not the best in the district. (Snark aside, our kids loved Edgewood Elementary, but didn’t want to go to Northbrook Middle and High. It was their choice to go elsewhere.)

So what about a better price for this home?

77080, Binglewood, Home Prices, Homes for Sale, Price Adjuster, Spring-Branch

10/19/09 11:19am

Swamplot Price Adjuster: Carrabba Rating Commercial Property

Land for Sale, Price Adjuster, Upper Kirby

9 Comments

Location: 2506 West Main St.
Details: 2-3 bedrooms, 2 baths; 1,779 sq. ft. on a 9,473-sq.-ft. lot
Price: $950,000
History: On the market since the beginning of September.

Just a couple blocks south of the intersection of Kirby and West Alabama is this behind-the-Carrabba’s-parking-lot home, apparently being marketed for lot value. The reader who’s nominating this property calls it:

Cute little house, but almost a million for it. Represented by Carraba Property. Next to restaurant of the same name. For that price, a lifetime supply of free Italian meals should come with purchase.

Okay, what about without the meals? What should it cost then?

77098, Homes for Sale, Land for Sale, Price Adjuster, Upper Kirby

10/12/09 1:57pm

Swamplot Price Adjuster: By the Wayside

Idylwood, Price Adjuster, Real Estate Marketing

28 Comments

Location: 6601 N. Park Ln., Idylwood
Details: 3-5 bedrooms, 1 1/2 baths; 2,914 sq. ft. on a 5,750-sq.-ft. lot
Price: $320,000
History: Listed since late May. Price cut $5K in late June.

The reader who’s nominating this property has a few gripes:

First, $320,000 for a house that corners on Wayside? Idylwood is great, but the houses cornering right on Wayside have to deal with the truck and general traffic noise & have to be discounted to sell. I don’t care if you dip it in gold, you aren’t get three-anything for something cornering on Wayside. . . .

The backyard is all concrete with a token deck and some sort of garage apt. You can’t rent those out in Idylwood, so it would have to be for a relative or a guest house. Your guests would really sleep well with those big trucks rumbling right by you.

And then, from a longer set of complaints about how the listing reads:

I can deal with a few typos & such, but some of it is just damn confusing. “Here’s you (sic) NEWLY updated HOME” I guess special emphasis needed to be placed on HOME in all caps so no one would think that being on such a busy corner might make it eligible for commercial? It goes on to describe “w/a converted or not garage w/apt/living quarters for guest/family…” Um, what? . . .

She sums it up with “reminds me of the old Heights area in Houston.” I’m glad she quantified that with the Heights area that is in Houston, we might have confused it with some other Heights. Of course the confusion is natural when a flat area of late 19th century and WWI era, mostly wood frame homes on flat terrain reminds you of a late 30’s & WWII era mostly brick homes on slightly hilly terrain. Yes, well, anything over 30 years starts to look alike I suppose.

So . . . any better numbers for this place?

77023, Homes for Sale, Idylwood, Price Adjuster, Real Estate Marketing

Brookesmith

09/28/09 9:00pm

Swamplot Price Adjuster: Brookesmith in the 200s

Homes for Sale, Price Adjuster

21 Comments

Location: 1005 Cordell St., Brookesmith
Details: 2 bedrooms, 1 bath; 980 sq. ft. on a 5,000-sq.-ft. lot
Price: $229,900
History: On the market for 3 months.

Why does the nominator of this bungalow think it’s overpriced?

Brooke Smith is one of the most transitional areas of the Heights area, and this house is not on one of the better streets in terms of curb appeal. Also,the next block over (Enid) has lots of poorly kept rental and commercial property.

The house does not have central air conditioning.

The house is only a 2/1.

The lot is only 5000 SF. You can buy a similar house in nearby Sunset Heights (better area, IMO) on a larger lot (6000 SF) for much less than $230K.

There is a similar house on Jewett listed at $160,000. This house is on a better street in terms of curb appeal, and it has central air conditioning.

Okay, then: What would be a better price for this home?

77009, Brookesmith, Bungalows, Homes for Sale, Price Adjuster

Cherryhurst

09/21/09 12:33pm

Swamplot Price Adjuster: Your Cherryhurst Neighbors

Home Prices, Montrose, Price Adjuster

87 Comments

Location: 1617 Fairview St., Cherryhurst
Details: 3-4 bedrooms, 2 baths; 1,810 sq. ft. on a 5,000-sq.-ft. lot
Price: $475,000
History: On the market for almost a month and a half.

Note: We now have a response from the seller! See updates below.

The reader who nominated this expanded bungalow on Fairview likes the place, but . . .

Whatâ€™s not evident from the photos are the basic problems with this house at this asking price:

[First, it’s ] across the street from Wilson Elementary. Not such a bad thing if you have kids who might attend Wilson, but otherwise a drag. School buses have a tendency to idle in front of the property. Noise and trash coming from, well, kids. Every Saturday and Sunday morning, year in and year out, a litany of soccer matches, volleyball tournaments, Frisbee â€œflag footballâ€, etc. emit a constant din. You know, just what you want when youâ€™d like to sleep in a bit.

Some opinions about the home’s other immediate neighbors, too:

The townhomes arenâ€™t that big of deal other than the residents can peer into your backyard and house. But, the house to the east is a nightmare. . . . Overgrown yard, house falling in on itself. Great for Boo Radleyâ€™s house. I can imagine prospective buyers looking at the thing next door and immediately saying, â€œNope.â€

So . . . what might be a better price?

77006, Cherryhurst, Home Prices, Homes for Sale, Montrose, Price Adjuster

Briar Hollow

08/31/09 5:38pm

Swamplot Price Adjuster: $2 Million Plus In Town

Home Design, Homes for Sale, Price Adjuster

15 Comments

Location: 18 Eaton Sq.
Details: 4 bedrooms, 4 1/2 baths; 4,308 sq. ft. on a 3,924-sq.-ft. lot
Price: $2,150,000
History: On the market for 3 months. Price cut $100K in early July.

The nominator of this property asks:

What am I missing here? Sure, this place has lots of nice finishes and shelving. And it faces a cute little fountain. But it’s still a garage-front 3-story attached townhouse that backs up to an apartment complex, in the shadow of an office tower. If I had $2 million to spend — or more likely, borrow — I’d want something more …. I don’t know … more.

What would be a better price?

77027, Briar Hollow, Home Design, Homes for Sale, Interiors, Price Adjuster

Condos for Sale

08/24/09 12:25pm

Swamplot Price Adjuster: Woodlands Waterway Faux

Home Prices, Price Adjuster, The Woodlands, The Woodlands Town Center, Woodlands Waterway

21 Comments

Location: 1 Waterway Ct., Unit 4-E, The Woodlands Town Center
Details: 3 bedrooms, 3 1/2 baths; 4,314 sq. ft. in One Waterway Lofts
Price: $1,990,000
History: Just listed over the weekend.

The nominator of this property writes:

Who says the real-estate bubble is long gone? Right on the Woodlands Waterway, here’s a faux Venetian condo in the Waterway Lofts. Can’t you just feel the theme-home synergy? Anyway, it looks like there are some great views of a lot of new office buildings from the windows, and if you look down you can see the Waterway and pool.

Is all that wine included? That might help explain the price tag. That and the fact that the county tax assessment for the loft just about doubled between 2007 and 2008. Montgomery CAD has it at about $1.56 million, which still seems too high.

To be fair though, there are several other overpriced lofts currently for sale in the same building.

In a just world, this condo would rent for maybe just twice its $2,062 monthly maintenance fee, all those Disneytalian finishes would peel off, and you could return all the fixtures to Expo for a refund.

So . . . what would be a better price?

77380, Condos for Sale, Home Prices, Price Adjuster, The Woodlands, The Woodlands Town Center, Woodlands Waterway

Charnwood

08/17/09 7:58pm

Swamplot Price Adjuster: A Lot of Charm in Charnwood

Homes for Sale, Price Adjuster

10 Comments

Location: 7538 Inwood Dr., Charnwood
Details: 17,781-sq.-ft. lot
Price: $550,000
History: Sold for $503,000 in December 2007. Listed on HAR for 4 months now at the current price.

Says the reader who’s nominating this vacant homesite:

The lot is in Charnwood, a really nice subdivision, they keep things looking nice. When I bought in Charnwood (Inwood Dr), it was the lot size that appealed to us, it seems like all the lots are 15k sqft or more, which is very generous for the area (galleria/west Houston).

It is close to lots of great eating, shopping, schools too but still has a nice family feel too it. I really like it and more importantly it is way more better value than Briargrove (Charnwood has way bigger lots too) and Tanglewood (chi-ching $$$).

Also, there are quite a few new custom builds in the subdivision, that points to good strong house values for the future. . . .

This lot was “for sale by owner” for $500k for around a year . . .

So . . . what would be a better price for this chunk o’ land?