Comments on: East of Downtown, and No One’s Biting http://swamplot.com/east-of-downtown-and-no-ones-biting/2012-08-17/ Houston, Texas real estate development, home buying, landscape, and design Tue, 21 May 2013 16:24:39 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: rental me this http://swamplot.com/east-of-downtown-and-no-ones-biting/2012-08-17/#comment-435921 rental me this Fri, 01 Feb 2013 00:03:22 +0000 http://swamplot.com/?p=46015#comment-435921 This is a very old article, but I remember thinking that I needed to check back later and see whether the house sold. Hopped on Sawbuck and see that it did, for much more than many here predicted. Congrats! Hope you didn't have to fire your mom. This is a very old article, but I remember thinking that I needed to check back later and see whether the house sold. Hopped on Sawbuck and see that it did, for much more than many here predicted. Congrats! Hope you didn’t have to fire your mom.

]]> By: Michael James http://swamplot.com/east-of-downtown-and-no-ones-biting/2012-08-17/#comment-273144 Michael James Tue, 21 Aug 2012 23:13:57 +0000 http://swamplot.com/?p=46015#comment-273144 @Chris Litherland RE: "Maybe it’s not selling because it’s god awful ugly and crap like that is destroying our once beautiful city. I hope it doesn’t sell. Sorry." Really, Chris? You think the area should revert to ugly metal warehouses and industrial buildings? How about a bunch of circa 1980's drug shacks? Get real... @Chris Litherland RE: “Maybe it’s not selling because it’s god awful ugly and crap like that is destroying our once beautiful city. I hope it doesn’t sell. Sorry.”

Really, Chris? You think the area should revert to ugly metal warehouses and industrial buildings? How about a bunch of circa 1980′s drug shacks? Get real…

]]> By: alan http://swamplot.com/east-of-downtown-and-no-ones-biting/2012-08-17/#comment-273049 alan Tue, 21 Aug 2012 17:22:07 +0000 http://swamplot.com/?p=46015#comment-273049 markd, 750/month? Really? What are you basing that on? My dad rented a smaller but otherwise very similar place in that area for $1700/month. It's also next to the tracks. That's the going rate right now. markd, 750/month? Really? What are you basing that on? My dad rented a smaller but otherwise very similar place in that area for $1700/month. It’s also next to the tracks. That’s the going rate right now.

]]> By: MariaO http://swamplot.com/east-of-downtown-and-no-ones-biting/2012-08-17/#comment-273036 MariaO Tue, 21 Aug 2012 16:52:50 +0000 http://swamplot.com/?p=46015#comment-273036 I'd also point out that in terms of wanting to get out what you paid for it, you need to adjust your expectations and consider that one pays a premium for new construction. You bought a new TH, but now you're selling a 4 year old TH. New-ish is not the same as New to a buyer. As others said, if it's important for you to recoup your investment, you might have to wait out the market and neighborhood gentrification for a while while renting it out. Or drop the price by a big chunk if you want to get out now. I’d also point out that in terms of wanting to get out what you paid for it, you need to adjust your expectations and consider that one pays a premium for new construction. You bought a new TH, but now you’re selling a 4 year old TH. New-ish is not the same as New to a buyer.
As others said, if it’s important for you to recoup your investment, you might have to wait out the market and neighborhood gentrification for a while while renting it out. Or drop the price by a big chunk if you want to get out now.

]]> By: markd http://swamplot.com/east-of-downtown-and-no-ones-biting/2012-08-17/#comment-272969 markd Tue, 21 Aug 2012 13:02:13 +0000 http://swamplot.com/?p=46015#comment-272969 You could probably rent it out for about $750/month. Sorry. You could probably rent it out for about $750/month. Sorry.

]]> By: ShadyHeightster http://swamplot.com/east-of-downtown-and-no-ones-biting/2012-08-17/#comment-272770 ShadyHeightster Mon, 20 Aug 2012 17:14:52 +0000 http://swamplot.com/?p=46015#comment-272770 Something others have not mentioned it that your Realtor is located in an office on Jones Road in Cy-Fair. I'm guessing she is your Mom? Still, this is bad because I would highly doubt a single person has contacted their office randomly in the last 6 months to say "I'm interested in purchased an East End townhome, can you help me?" It would pay to find an agent that specializes in that area, they have better contacts, and a better feel for the neighborhood with which to sell a buyer on the location. Another negative is the relatively high HOA fees, around $100 a month. For that extra $100 a month, a purchaser can fund an extra $10,000 or so in a non-fee townhome. A drop in listing price is what will really drive people towards your property. Or you need to better explain what benefits you get for that HOA fee. Something others have not mentioned it that your Realtor is located in an office on Jones Road in Cy-Fair. I’m guessing she is your Mom? Still, this is bad because I would highly doubt a single person has contacted their office randomly in the last 6 months to say “I’m interested in purchased an East End townhome, can you help me?” It would pay to find an agent that specializes in that area, they have better contacts, and a better feel for the neighborhood with which to sell a buyer on the location.
Another negative is the relatively high HOA fees, around $100 a month. For that extra $100 a month, a purchaser can fund an extra $10,000 or so in a non-fee townhome. A drop in listing price is what will really drive people towards your property. Or you need to better explain what benefits you get for that HOA fee.

]]> By: anon http://swamplot.com/east-of-downtown-and-no-ones-biting/2012-08-17/#comment-272768 anon Mon, 20 Aug 2012 16:50:29 +0000 http://swamplot.com/?p=46015#comment-272768 You might be able to brighten up those pictures using photoshop without having to reshoot. They could also be edited, because they are repetitive, making the place seem smaller somehow - like there's not enough house to take pictures of, so you're just posting the same stuff over and over. Why is there a picture of the door, for instance? If you can take the window treatments off without messing up your paint job, I would do it and then re-photograph. (But maybe thats because I HATE WINDOW TREATMENTS.) Other than that you don't have much clutter or anything. You might be able to brighten up those pictures using photoshop without having to reshoot. They could also be edited, because they are repetitive, making the place seem smaller somehow – like there’s not enough house to take pictures of, so you’re just posting the same stuff over and over. Why is there a picture of the door, for instance?

If you can take the window treatments off without messing up your paint job, I would do it and then re-photograph. (But maybe thats because I HATE WINDOW TREATMENTS.) Other than that you don’t have much clutter or anything.

]]> By: Charles http://swamplot.com/east-of-downtown-and-no-ones-biting/2012-08-17/#comment-272758 Charles Mon, 20 Aug 2012 15:56:53 +0000 http://swamplot.com/?p=46015#comment-272758 It is simple.....the home needs at least five more years due to inventory. Also the townhome tower style is quickly becoming a turn off as buyers who have waited expect more practical design.....Stucco is also a negative in the south when used over a wood frame since it can hold too much moisture which rots the frame from the inside out....if the builder was Tricon I would expect to see hardy sheathing on the exterior walls that face the air shaft which solves the moisture issue since it tends to only be a major thing when the stucco is shaded for the majority of the day...another issue is the wierd way the gate operates at your community, the HOA needs to replace it or remove it and allow the streets to be turned over to the city....gates anywhere but a million dollar estate are silly, criminals jump fences, follow people in....gates are only keeping guests out which buyers hate....plus if you turn over the streets to the city you could get rid of HOA dues, which is a plus downtown...they want deed restrictions, but not the HOA fees since most HOA's downtown have no pools or perks buyers don't see the value......$250,000 for your home is beyond what it will fetch since the larger Waterhills with roof terraces that line the block in front of your home have only been hitting that dollar amount......Tricon didn't even get close to that when they where new, so if you paid in the $240's, well you were one of the few, sorry, just want to be honest.......the home is a good one to rent and hold if you want to build your personal assests, but selling will require a price drop or a few upgrades like a wooden garage door and interior tweeks......good luck and I hope this helps It is simple…..the home needs at least five more years due to inventory. Also the townhome tower style is quickly becoming a turn off as buyers who have waited expect more practical design…..Stucco is also a negative in the south when used over a wood frame since it can hold too much moisture which rots the frame from the inside out….if the builder was Tricon I would expect to see hardy sheathing on the exterior walls that face the air shaft which solves the moisture issue since it tends to only be a major thing when the stucco is shaded for the majority of the day…another issue is the wierd way the gate operates at your community, the HOA needs to replace it or remove it and allow the streets to be turned over to the city….gates anywhere but a million dollar estate are silly, criminals jump fences, follow people in….gates are only keeping guests out which buyers hate….plus if you turn over the streets to the city you could get rid of HOA dues, which is a plus downtown…they want deed restrictions, but not the HOA fees since most HOA’s downtown have no pools or perks buyers don’t see the value……$250,000 for your home is beyond what it will fetch since the larger Waterhills with roof terraces that line the block in front of your home have only been hitting that dollar amount……Tricon didn’t even get close to that when they where new, so if you paid in the $240′s, well you were one of the few, sorry, just want to be honest…….the home is a good one to rent and hold if you want to build your personal assests, but selling will require a price drop or a few upgrades like a wooden garage door and interior tweeks……good luck and I hope this helps

]]> By: Brooke Smith Too http://swamplot.com/east-of-downtown-and-no-ones-biting/2012-08-17/#comment-272752 Brooke Smith Too Mon, 20 Aug 2012 15:36:28 +0000 http://swamplot.com/?p=46015#comment-272752 As someone who recently moved my office from downtown to the East End (and has lived/worked in Montrose/Heights/midtown for 17 years)...the east end area is light years from being anywhere near as desirable as other inner loop areas. Accessibility is a huge problem that isn't going away. I can't wait to move my office back to civilization. As someone who recently moved my office from downtown to the East End (and has lived/worked in Montrose/Heights/midtown for 17 years)…the east end area is light years from being anywhere near as desirable as other inner loop areas. Accessibility is a huge problem that isn’t going away. I can’t wait to move my office back to civilization.

]]> By: commonsense http://swamplot.com/east-of-downtown-and-no-ones-biting/2012-08-17/#comment-272725 commonsense Mon, 20 Aug 2012 13:08:35 +0000 http://swamplot.com/?p=46015#comment-272725 You obviously overpaid for this property, at the time when people were buying without rhyme or reason. But, most importantly, you bought without doing proper research of the area. Location, location, location, is still the most important factor in real estate. It's the worst of the new and coming neighborhoods, it's surrounded by crap, and there's a train going through your living room. It will sell, but well under what you paid for it. You obviously overpaid for this property, at the time when people were buying without rhyme or reason. But, most importantly, you bought without doing proper research of the area. Location, location, location, is still the most important factor in real estate. It’s the worst of the new and coming neighborhoods, it’s surrounded by crap, and there’s a train going through your living room. It will sell, but well under what you paid for it.

]]> By: Chris Litherland http://swamplot.com/east-of-downtown-and-no-ones-biting/2012-08-17/#comment-272599 Chris Litherland Mon, 20 Aug 2012 04:24:22 +0000 http://swamplot.com/?p=46015#comment-272599 Maybe it's not selling because it's god awful ugly and crap like that is destroying our once beautiful city. I hope it doesn't sell. Sorry. Maybe it’s not selling because it’s god awful ugly and crap like that is destroying our once beautiful city. I hope it doesn’t sell. Sorry.

]]> By: sarah lipscomb http://swamplot.com/east-of-downtown-and-no-ones-biting/2012-08-17/#comment-272570 sarah lipscomb Sun, 19 Aug 2012 23:34:39 +0000 http://swamplot.com/?p=46015#comment-272570 You or your realtor need to contact me for a re-shoot! Better photos will make all the difference. You or your realtor need to contact me for a re-shoot! Better photos will make all the difference.

]]>