01/16/08 11:25am

Check out the discussion going on now in the “Real Estate Professionals” section of the City-Data online forum. A reader is excited about an amazing investment opportunity at the 1342 Rutland St. condos in the Heights!

The unit I’m interested in is as of now at $34K. This if from a high of $77.5. Yes wow the suspiciousness of the place even more intriguing.

I’m thinking I could pay cash for the place maybe borrow a little but (family borrow not bank borrow)… finish the interior (it’s not finished) and rent it out for a good monthly rate (good for me that is). It’s in one of the best/trendy/expensive neighborhoods in Houston . So from the steady fall of the price I’m thinking an offer of $25K would be good. That way I could pay it completely and take my time fixing it up for rent… or sale.

Wow, a $77,500 condo for only $25,000! Sounds like a great investment. But then there’s that nagging feeling inside that makes the would-be investor end with this question:

Just how scared should one be entering this building[?]

After the jump: Reader advice!

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01/15/08 9:55pm

Four Homes by Legend Homes for Sale in Bear Creek Meadows

The wave of foreclosures sweeping over neighborhoods at the outer edges of town has . . . an upside!

Remember back when these neighborhoods were new — like, four years ago? Well, for buyers it’s just like those good old days all over again . . . only cheaper! That’s right: if you’ve settled on one builder model, you can be pretty picky about which upgrades and finishing touches you really want — even though the builder has moved on.

If you’re shopping for a home in Bear Creek Meadows in Katy, for example, you’ll find the four distinct residences pictured above listed on MLS. That’s right, those are four different houses. But they’re all the same model — The Cairns, Plan 509, by Legend Homes — and they’re all resales!

Which one is right for you? Clockwise from top left, the contenders are: 19411 Billineys Park Dr., 19606 Ballina Meadows Dr., 19906 Brisbane Meadows Dr., and 19510 Buckland Park Dr.

After the jump, a look at the differences between these four newish but back-on-the-market homes!

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01/14/08 11:41am

6118 Buffalo Speedway, West University Place, Texas

Just what is it about this West U house that’s scaring off the buyers? Is it the location on busy Buffalo Speedway? The outbreak of quoins on the front facade? The curious “custom paint” job in one of the home’s seven bathrooms that demonstrates to pooping gameroom guests how the house’s stucco surface might flake off?

Whatever it is, it sure looks like there’s a reverse auction going on: The five-bedroom, 5,119-square-foot house went on the market early last May and listed for $1,614,050. After three price cuts, it ended the year at $1,339,000. And now it’s only $1,239,000!

After the jump: a detailed look inside.

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01/11/08 11:28pm

Got some extra energy to spend househunting? Join us for a quick look at six homes for sale in West Memorial, in subdivisions huddled at the T-shaped Energy Corridor’s left armpit (between Highway 6 and Eldridge Parkway that is, south of I-10 and north of Buffalo Bayou).

You can visit them all this weekend — or just gawk as we drive by:

727 Last Arrow Dr., Houston

Location: 727 Last Arrow Dr.
Details: 3-4 bedrooms, 2 1/2 baths, 3,051 sq. ft.
Price: $329,900
The Scoop: Lots of 1980s-era wood paneling in a gated community. Three months on the market; one price drop.
Open House: Saturday & Sunday, 2-5 pm

There’s more below the fold!

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01/08/08 10:05am

3780 Tanglewilde St. #609, Houston

Here’s a great idea: Let’s deck out a 1980s two-bedroom, two-story Tanglewilde condo. It’ll look really sophisticated and sell fast, too! First, add the sleek blond leather furniture. Then build a dramatically lit aquarium into the dining area, so you can see the back of it . . . from the kitchen! That’s gotta help this baby sell for big bucks.

Except sixteen months later, it’s still on the market. The asking price has dropped from $129,900 to $109,900, but it’s been sitting at that last number for more than 10 months. And more reductions seem inevitable: Just a few doors down, an unstaged version popped up for sale 8 days ago, and has already reduced its price to $99,000.

After the jump, more pics of the Tanglewilde leather-and-aquarium bachelor pad!

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01/07/08 10:56am

Pool and Lake at 24315 Lanning Dr., Katy, Texas

Honey, stop the car! 2300 square feet, new construction, in-ground pool, spa, game room, on a man-made fake lake. $209k. Bonus: The Relitter actually typed in “HONEY STOP THE CAR!!” as a description.

That’s blogger Lou Minatti’s punchline, after a brief tour of tiny, chain-linked-fenced, or apparently leaning homes available at similar prices in Los Angeles.

Also in the description of the Katy home is this paradox:

POPULAR LENNAR FLOORPLAN! . . . A ONE OF A KIND GEM!

After the jump: more pics, plus the sad news about this some-of-a-kind Katy home.

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01/03/08 11:40am

705 Welch St., Montrose, HoustonSome curious price fluctuations on this 2006 turreted Montrose townhouse: Last week the asking price was reduced from $525,000 to $350,000. Which is pretty dramatic, though only slightly more dramatic than the $140K increase recorded on MLS the day after the property was listed, in early December.

01/02/08 12:02pm

Front Lawn of 10926 Leaning Ash Ln. in Ashwood, Houston

This three-bedroom, three-bath, 3,504-square-foot home on a half-acre lot in Memorial is notable for three reasons: The asking price was dropped to just below $650,000 only a few days after it went on the market, shortly before Christmas; it sits on a street whose name Susan Vreeland-Wendt probably wouldn’t approve of (foundation problems and fires generally aren’t the kinds of connotations you look for these days); and its main MLS listing photo features a remarkably bad Photoshop hack job.

What is it that’s been covered over on that front lawn with a hundred rubber-stamp-tool grass plugs? Is it just that the real sod isn’t taking underneath all those pine trees? Or is this a photo from heavy trash day? After the jump: more (presumably undoctored) photos of the house on Leaning Ash Lane.

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12/19/07 1:57pm

Living Room of Manhattan Lofts Unit 808, Houston

This delightful unit has lingered on the market for a mere 22 months. That’s a long wait for a condo bubble that never happened. And hey, it ‘s a fun ride down the price ladder!

The grossly oversized two-bedroom, two-and-a-half bath corner unit on the top floor of the misplaced Manhattan building in the Galleria was originally priced at $2.1 million, back in the swelled-heady days of February 2006. Five methodical price drops later, we’ve reached $1,695,000. That’s a lot of cuts, but we’re still not even down 20 percent: how low will the program-trading-style reductions go?

After the jump, more pics of the . . . uh, eclectic interior.

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12/13/07 11:59am

3740 Willowick Rd., River Oaks, Home by John Staub

How’s that River Oaks “you loved the book, now try the homemarketing tie-in going?

Well, Stephen Fox’s volume on The Country Houses of John F. Staub is currently ranked #10,535 on Amazon.com, which probably isn’t so bad for a book about a dead architect. It is heavily discounted, but it’s collected several favorable reviews online.

The reviews aren’t looking quite as good for the Staub ranch-mansion at 3740 Willowick: The asking price was dropped earlier this month from $7,495,000 to $6,950,000. For a 2.3-acre River Oaks lot with Buffalo Bayou frontage, that’s a healthy step closer to . . . yes, land value. And looky at all the excitement just down the street!

12/11/07 1:22pm

Villas of Antoine Ad

Houston is such an international city! If you’ve been here a while, you’ve probably already found Tuscany in Houston and Hong Kong in Houston, and perhaps also Charlottesville, New Delhi, Versailles, New York, Mexico City, Cairo, Dubai, Atlanta, and maybe even some Lubbock in Houston as well.

Well, here’s a new one: Now you can discover Barcelona in Houston too. And it’s in Spring Branch!

Fortunately, for those of you tired at the thought of all that around-the-world-in-eighty-themed-apartments travel, this little bit of the Spanish Mediterranean comes in the familiar form of a Houston townhome six-pack: two rows of bright yellow tightly fit stucco-coated boxes facing a bare concrete driveway.

So really, it shouldn’t seem so foreign after all.

After the jump, more pics!

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12/06/07 4:45pm

Townhouse at 3421 Gillespie St., Under Construction

There’s more from our Fifth Ward correspondent, who’s been poking around properties near the MDI site:

InTown has various other project coming up in the 5th Ward/East End. The Cage/Gillespie property is now listed on HAR. They also plan on building English style bungalows at 619 Meadow St. However, they are in replatting stages now.

[Tuesday] Swamplot reported “Cline and Fall of Eight Houses“. These are about 2 blocks from the MDI site and there is a variance request up for subdivison renaming. I did some research and it seems they are owned by Lanterra Homes. They were supposed to have a project called Deca but looks like it may have been scrapped. Lanterra has built homes near InTown homes before.

Photo: 3421 Gillespie, for sale on HAR

12/03/07 10:58am

Listing from Oodle.com

How important is location? Well, here’s a four-bedroom, three-bath home for sale near Mayor Bill White, and they’re only asking $137,900?! This listing found on Oodle.com sounds too good to be true!

It is.

Below the fold: the awful truth.

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11/30/07 5:32pm

5103 S. Braeswood in Meyerland, Houston

Midcentury Modern Meyerland home with a distinctively shaped Living Room. In uncertain condition, on a large corner lot.

Sound familiar?

With the Carousel House reduced to rubble, Mod fans on HAIF have turned their attention to this 3,352-square-foot home from 1964 on a third-of-an-acre site at the corner of South Braeswood and S. Rice. It’s a foreclosure, and went on the market earlier this week:

I went and saw this house yesterday, and it has some amazing features. I think it’s likely that it is the House of Formica, for every surface–walls, cabinets, bars, etc.–is covered in Formica. I don’t think there’s is a drop of paint anywhere.

But . . .

the house is also really odd. I like strange, and this one is strange without being cool. Some of the design features just aren’t right. Therefore, it’s possible that we’re heading for another Moonlight. I hope not, but I doubt the house will go for anything above lot value.

After the jump, photos of some of those just-not-right design features — available free with land purchase! Plus special bonus: it’s really close to the bayou.

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11/20/07 11:06am

4608 Roseneath Dr., Houston

Why has this property in Riverside Terrace been floating aimlessly on the market for almost five months? Sure, it’s being sold “as is” — and the “is” apparently doesn’t merit an interior photo. But the home has four bedrooms, contains 2,875 square feet of living space, and is apparently salvageable. Plus it sits on a 11,100-square-foot lot on a “lovely, tree-lined street” in a part of town that’s been pretty hot recently, no?

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