COMMENT OF THE DAY: WHAT DO I HEAR FOR AN ORIGINAL TANGLEWOOD RANCH? “serious question . . . as the number of 1 story ranch houses in tanglewood dwindles to what is now only about 20% of the market, does this type of product ever carry in ITSELF a premium for being a certain ‘historic’ structure? or is the value of these houses always going to be simply a function of their dirt value? and if they are renovated enough for entry level tanglewood families (like mine) to live in, is there a value to be established there? the answer is probably as suggested. i realize that ultimately these houses are saddled with 8′ ceilings and outdated wiring/plumbing, but it’s still a 1:4 coverage ratio housing product, where you want to be, surrounded by the schools you want to send your kids to, and spending $1.25 to buy it and $250,000 to renovate it (to the studs)” [HTX REZ, commenting on Daily Demolition Report: School of Hard Knocks]
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Interesting and legitimate question.
I believe that value of the ranch homes will ultimately be tied to land value and what new construction builders are willin to pay, no matter what condition the home is. In my experience, people that want those homes at that price range are few and far between. Most people who like them simply can’t afford that neighborhood and people that want to spend that kind of money can get a much better home elsewhere. So, any remodeling and upgrades will never be recouped.
Yes.
http://houston.culturemap.com/news/home_design/09-16-12-scorning-the-mcmansions-for-a-1963-modern-home-an-interior-designers-very-personal-tanglewood-project/
That article was just a cheap plug for the interior designer. Besides, interior designers are not to be trusted at any cost, their goal is to sell you overpriced furniture not the house itself.
Some of the best Ranchers were and still are in Tanglewood, some should be torn down, but some of the huge ones close to Woodway should be saved–frankly the neighborhood is unrecognizable, and some of the new homes are simply awful. The styles of some are just bizarre, it’s a shame because the neighborhood is laid out so beautifully and the ranch style homes built to correct lot scale fit in so well amongst the Oaks. Sadly, I’m sure they’ll all meet the wrecking ball in time, they’re too understated and unassuming for this crowd
Interior designers are certainly to be trusted if interior design is the goal. Overpriced is subjective — just as it is on any topic.
i think common sense is probably right. i would argue, though, that at my all-in number of $1.5MM, my family would have all of its needs met (large yard, 3000-4000sf home, modern conveniences) central to everything you would want/need in Houston, and very close to the school my kids would attend for 10 years.
maybe this is heavy minority of buyers here, but i just don’t have aspirations for much more than that. my only negative that cannot be changed with any reasonable budget is those awful 8′ ceilings.
truth is, if i chased that dream, i wouldn’t need a price premium to be associated with my quasi “preservation”. i would just enjoy it for what it’s worth, live in the shadows of European Grandeur Masterpieces, and when it’s time for the kiddos to skip off to HS, move and probably see profit for my efforts — even if it’s a family that doesn’t even want to walk my hell-hole rancher before closing, and building their palace.