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 . . . ?
Continues this week’s naysayer:
I would guess that this fellow poured a lot of money into the house and is trying to get it out of the next owners.
I doubt it will sell for over $700k.
What do you think this home is worth?