Swamplot Archives by Tag: Price Adjuster

Monday, November 2, 2009

Swamplot Price Adjuster: Priced in the Heights

November 2, 2009 – 1:26 pm

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: 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?

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1:26 pm | 15 Comments | Read more about Home Prices, Homes for Sale, Neighborhoods: Houston Heights, Price Adjuster
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Monday, October 26, 2009

Swamplot Price Adjuster: The Path from Spring Branch to Binglewood

October 26, 2009 – 11:23 am

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: 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?

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11:23 am | 2 Comments | Read more about Home Prices, Homes for Sale, Neighborhoods: Binglewood, Neighborhoods: Spring Branch, Price Adjuster, Schools
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Monday, October 19, 2009

Swamplot Price Adjuster: Carraba Rating Commercial Property

October 19, 2009 – 11:19 am

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: 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-Carraba’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?

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11:19 am | 9 Comments | Read more about Homes for Sale, Land for Sale, Neighborhoods: Upper Kirby, Price Adjuster
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Monday, October 12, 2009

Swamplot Price Adjuster: By the Wayside

October 12, 2009 – 1:57 pm

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: 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?

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1:57 pm | 28 Comments | Read more about Homes for Sale, Neighborhoods: Idylwood, Price Adjuster, Real Estate Marketing
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Monday, September 28, 2009

Swamplot Price Adjuster: Brookesmith in the 200s

September 28, 2009 – 9:00 pm

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: 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?

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9:00 pm | 17 Comments | Read more about Homes for Sale, Neighborhoods: Brookesmith, Price Adjuster
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Monday, September 21, 2009

Swamplot Price Adjuster: Your Cherryhurst Neighbors

September 21, 2009 – 12:33 pm

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: 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 . . .

What’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 “flag football”, etc. emit a constant din. You know, just what you want when you’d like to sleep in a bit.

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

The townhomes aren’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 Radley’s house. I can imagine prospective buyers looking at the thing next door and immediately saying, “Nope.”

So . . . what might be a better price?

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12:33 pm | 69 Comments | Read more about Home Prices, Neighborhoods: Cherryhurst, Neighborhoods: Montrose, Price Adjuster
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Monday, August 31, 2009

Swamplot Price Adjuster: $2 Million Plus In Town

August 31, 2009 – 5:38 pm

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: 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?

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5:38 pm | 15 Comments | Read more about Home Design, Homes for Sale, Neighborhoods: Briar Hollow, Price Adjuster
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Monday, August 24, 2009

Swamplot Price Adjuster: Woodlands Waterway Faux

August 24, 2009 – 12:25 pm

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: 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?

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12:25 pm | 21 Comments | Read more about Condos for Sale, Home Prices, Neighborhoods: The Woodlands, Neighborhoods: The Woodlands Town Center, Neighborhoods: Woodlands Waterway, Price Adjuster
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Monday, August 17, 2009

Swamplot Price Adjuster: A Lot of Charm in Charnwood

August 17, 2009 – 7:58 pm

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: 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?

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7:58 pm | 10 Comments | Read more about Homes for Sale, Neighborhoods: Charnwood, Price Adjuster
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Monday, August 10, 2009

Swamplot Price Adjuster: Blue Bonnet Spread

August 10, 2009 – 6:14 pm

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: 3105 Blue Bonnet Blvd., Southern Oaks
Details: 3 bedrooms, 4 baths; 4,109 sq. ft. on a 16,992-sq.-ft. lot
Price: $3,400,000
History: On the market since last Thanksgiving. Price reduced $100K mid-June.

Our nominator, struggling with the price tag:

Typical newer construction home in Southern Oaks. The chandelier in the foyer is way too ostentatious for my taste…but to each their own. The rest of the house shows like any other new construction mcmansion in Southern Oaks and Braes Heights that list between $1,000,000 - $1,300,000. Also, it’s sits four houses off of Buffalo Speedway in one direction and two houses down from a huge apartment complex in the other direction. The only advantage I see this house has is that it’s on a 16,000 sf lot, whereas most of the others average 9,000 sf. The house is only 4,100 sf, making it smaller than most of the new construction in the area. So, the question is, why the $3.4 million price tag?

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6:14 pm | 19 Comments | Read more about Homes for Sale, Neighborhoods: Braeswood Place, Neighborhoods: Southern Oaks, Price Adjuster
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Monday, August 3, 2009

Swamplot Price Adjuster: Glenbrook Valley High?

August 3, 2009 – 11:22 am

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: 8107 Glen Dell Ct.
Details: 3 bedrooms, 2 baths; 2,757 sq. ft. on an 11,307-sq.-ft. lot
Price: $245,000
History: On the market almost continuously from March 2005 to February 2006, then again from March to September 2006, and after a couple of weeks’ rest back on again until March 2007. Returned to the market from February to August of last year. Listed again since July 3rd of this year. Price reduced from $259K.

Here’s our reader’s nomination:

The home has a lot of good bones, flagstone exterior & some flagstone floors, big windows, angled rooms, pool. But the things done in the name of updating haven’t helped it. Lots of cheap ugly ceramic tile, Home Depot pedestal sinks, overdone moldings, and the original flagstone posts were taken down in favor of plain square wooden ones. There is no landscaping to speak of, and the pool is drained, now that will show well.

So, then . . . what might be a better price?

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11:22 am | 8 Comments | Read more about Homes for Sale, Neighborhoods: Glenbrook Valley, Price Adjuster
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Monday, July 27, 2009

Swamplot Price Adjuster: A Little Corner of Bellaire, As It Is

July 27, 2009 – 11:39 am

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: 4901 Evergreen St., Bellaire
Details: 6,890 sq. ft. lot, marred by only by existing house. “BEING SOLD AS LOT VALUE ONLY***DRIVE BY ONLY***Great Corner Lot***Lots of Trees**”
Price: $700,000
History: Listed at the current price since late May.

Note: Story updated below.

The reader who’s nominating this Bellaire lot wonders why it’s priced like a Bellaire house:

This is probably priced more than double what it should be. While Bellaire is not a cheap neighborhood, there are plenty of nice 3700-4000 square foot homes selling in Bellaire for this same price or lower. It isn’t even a big lot. The appraisal district appraises it at $254,069 for a price difference of $445,931 . . .

It is also a corner lot, and there is a stop sign in front of the house. I know there is an older house on the lot, but the agent is selling it “As-is” without scheduling appointments . . .

There is a beautiful 4400 sq foot house also on Evergreen a block or two away (5113 Evergreen) on a similar size lot that is selling for 825 [was recently reduced to $799K].

What would be a better price for this little piece of Bellaire?

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11:39 am | 15 Comments | Read more about Land Prices, Land for Sale, Neighborhoods: Bellaire, Price Adjuster
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Monday, July 20, 2009

Swamplot Price Adjuster: Hunter Green in Downtown Rosenberg

July 20, 2009 – 12:16 pm

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: 812 2nd St., Rosenberg
Details: 3-4 bedrooms, 3 1/2 baths; 3,793 sq. ft. on a 33,600-sq.-ft. lot. “Second home” on property “needs work.”
Price: $279,900
History: Listed since June 24th at the current price.

Declares the reader who’s nominating this property:

This house just went up for sale in Rosenberg’s downtown. The problem I have with it is that the listing seems totally incorrect, as there’s no way this is on 33,600 sf lot. The house, built in the 1920’s, can’t possibly be almost 4k sf either. I’ve driven around, looked at the arial view on Zillow from all sides, and I can’t picture it.

Even if it is a large lot, it’s surrounded by commercial property, with some kind of electrical grid (?) right behind it and public street parking right in front. The metal roof is sliding off in chunks, and you can see that from the bridge right behind it, where everyone can see the top of the house. Why is there a bridge? Because the railroad yard is right there! The so-called 2nd house on the property is very old rental units that look so diseased that the only option would be to tear it down. There’s no garage, so at least there’s be a place for one after that’s gone.

The appeal is lacking from the front no doubt, but the inside décor has that beat. Gold and hunter green don’t usually win the interior design popularity contests these days.

What would be a better price?

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12:16 pm | 3 Comments | Read more about Homes for Sale, Neighborhoods: Rosenberg, Price Adjuster
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Monday, July 6, 2009

Swamplot Price Adjuster: Game Time in Bayou Woods

July 6, 2009 – 3:27 pm

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: 8906 B Memorial Dr., Bayou Woods
Details: 7 bedrooms, 5 1/2 baths; 7,521 sq. ft. on a 25,740-sq.-ft. lot
Price: $1,650,000
History: On the market for more than 2 1/2 years. 8 separate price reductions, totaling $925K. Just cut $100K at the beginning of this month.

Says the nominator of this home:

This place is just too much. Really. I mean … 22 ft. ceilings in the Living Room? Who’s got that much of a swelled head? And 2 separate game rooms? One of them has its own kitchen and dining room! I think “built for builder” says it all.

But what do I know? At only 7,500sf maybe it’s not grandiose enough for the new Bayou Woods.

I don’t really know much about this place, but it sure has been hanging around on the market for awhile.

What should the price be?

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3:27 pm | 20 Comments | Read more about Homes for Sale, Neighborhoods: Bayou Woods, Price Adjuster
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Monday, June 29, 2009

Swamplot Price Adjuster: Boulevard Oaks by the Square Foot

June 29, 2009 – 2:48 pm

Why hasn’t this cute little cottage on South Blvd. in Boulevard Oaks been snapped up yet?

Location: 1930 South Blvd., Boulevard Oaks
Details: 5 bedrooms, 6 full and 4 half-baths; 7,863 sq. ft. on a 10,140-sq.-ft. lot
Price: $2,450,000
History: Original home on property torn down in fall of 2007. Listed for $2.6 million during construction; price cut $150K last Halloween.

Our nominator writes in:

I’ve walked through this home. It’s a vacuous monument to the “price per square foot” itch that’s infected so many builders trying to make a buck in fancier neighborhoods. If you can get $300 a square foot for a 3,000 square foot house, why not build a 6,000 square foot house and double the take? And think of the bonus you could get for 7,863!

So the design becomes a ridiculous exercise in racking up square footage for no useful reason. Most of the experience of this house consists of walking down long, built-to-impress but useless hallways. The master bedroom is big enough to skate in.

This place only looks like a great deal on paper. I hope studying this home will make realtors and builders and buyers and appraisers think twice about applying mindless per-square foot pricing formulas.
Because this is what you end up with.

So . . . how should you price it?

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2:48 pm | 23 Comments | Read more about Home Prices, Homes for Sale, Neighborhoods: Boulevard Oaks, Neighborhoods: Hermann Hospital Estates, Price Adjuster
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