Comments on: Idling in Idylwood: Where’s a Friendly Appraiser When You Need One?

By: drone

drone — Wed, 01 Jul 2009 19:18:10 +0000

Bobby - if your only knowledge of the neighborhood is “its proximity to 45″ — then you really know nothing about the neighborhood.

Tried to a buy a house there lately? Aren’t many for sale, and I think his price was just right for the place, given the market conditions in the neighborhood, and the size/condition of the house. Obviously, there are a handful of others who thought it was right too - including a bank. I just bought a house in the same neighborhood, and let’s say that $206k appraisal was egregiously low given the comps, and the appraisals on other homes in the neighborhood. And no, your personal opinion about its location does nothing to dim the desirability of a well-kept, practically crime-free neighborhood spitting-distance from downtown.

By: rollo

rollo — Mon, 29 Jun 2009 18:01:59 +0000

robert, don’t waste your time and energy on these “knowledgeable” people. i am not updated on this particlar market but i know it is quite nice. if it sold again for the same amount, was appraised and closed, then there must have been data in there. of course we all want to get a good deal but the negativity and brillance of the “feds” doesn’t always help.

By: Robert

Robert — Sat, 27 Jun 2009 14:16:42 +0000

People stood in line for the privilege of doing just that.

By: Bobby Hadley

Bobby Hadley — Sat, 27 Jun 2009 09:50:58 +0000

I don’t think it’s that we can’t do math; but more that none of us are in your words, “batsh!t crazy” enough to pay $242k for a house whose location is qualified in terms of its proximity to the Gulf Freeway lol.

By: Robert

Robert — Thu, 25 Jun 2009 22:02:39 +0000

All of you people are batsh!t crazy if you think you can get a house like that in Idylwood for the low $200’s. If houses LESS than 1300 sq ft have been selling for just under $200,000 or $145 to $150+ a foot. Do the math. 500 more sq ft, a second bath that not all of the other sales had and more upgrades for only $10,000 or so more? Obviously some of you can’t do simply math.

This house has closed. It sold for $242,000 as well it should.

By: Dennis

Dennis — Mon, 22 Jun 2009 19:30:31 +0000

A house is worth what someone is willing to pay for it. In that case it was worth the $243,000. I have had listings recently get into bidding wars if they are desirable. My own home had an appraisal in March for $487,500 and then in April by a second appraiser for $350,000. It appraised 4 years ago for $425,000 so I know the April appriaser is more than a bit off…

By: hmm.

hmm. — Mon, 22 Jun 2009 14:14:31 +0000

That’s a nice house.
$200K is a nice price.

By: Drew

Drew — Sun, 21 Jun 2009 19:12:53 +0000

$206 seems just right for that house.

By: John

John — Fri, 19 Jun 2009 04:07:22 +0000

The appraisal price seems more realistic than the asking price. Idylwood is really nice, but it’s also east of downtown where prices are lower, and given what else is on the market there, $206 for that house (which looks very nice) seem slow, but not that low.

If there’s a foreclosure, the lender is left with the collateral - the house. You can’t blame them for not wanting to lend more than they will be able to get for the house.

Now if HCAD would appraise honestly we’d be in good shape.

By: Postmaster

Postmaster — Fri, 19 Jun 2009 03:18:27 +0000

justguessin,
Idylwood is a very nice little neighborhood bordered by the Gulf Frwy, South Wayside, Lawndale, and a bayou (Buffalo?). I guess I’m a little partial ’cause I grew up near there and I love the brick houses and slopey yards and streets. That said, it is flood-prone and I remember a Chronicle article a couple years ago that listed it as one of only 2 neighborhoods out of hundreds in the greater Harris County area whose values were depressed despite the boom going on everywhere else.

By: Art Vandelay

Art Vandelay — Fri, 19 Jun 2009 03:13:29 +0000

That house is not worth the asking price. Low $200s seems more appropriate. A 2/2/1 on Rockbridge was recently listed in the 190s, and it was just as nice. Of all the updates made to this house, why didn’t they remove that tacky enclosed porch? It’s killing the front of the house.

By: justguessin

justguessin — Fri, 19 Jun 2009 02:06:18 +0000

I have to doubt the criticism of appraisers based on my own experiences. I just got an appraisal on my own house in the Heights at 20% above what I paid 2 years ago. While I would like to think I made a great choice (I do love it), I am a bit skeptical. [HCAD, this post is full of lies]

This house is really cute. Where is Idylwood?