Tag: Price Reductions

Buying and Selling
02/04/08 11:49am

South Side Special: One Sorry Fuqua

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Foreclosures, Homes for Sale, South Houston
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3015 Fuqua, Houston

Vandalism, 3015 Fuqua, HoustonForeclosure, vandalism . . . what more could possibly go wrong at this mansion-on-the-prairie near Brunswick Meadows, off 288 in South Houston?

How about a lack of serious buyers since the home was put on the market back in August — even after two major price cuts?

The place was built in 1950, but the listing agent’s mysterious comment that the “Home was at one time almost completed” probably refers to the recent doomed redo attempt. The asking price was cut to $345,900 in November, from an original $451,900. And it’s listed on another site for $325,900. Not bad for a 11,640-sq.-ft. home on 5 acres inside the Beltway.

Or . . . maybe not. After the jump: when vandals strike!

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Buying and Selling
01/16/08 11:25am

1342 Rutland: How To Invest in a Collapsing Market

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Condos, Houston Heights
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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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Buying and Selling
01/14/08 11:41am

Big House on Buffalo Speedway: Not Selling for Too Many Quoins

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Home Design, Homes for Sale, Interiors, West University
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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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Condos
01/08/08 10:05am

That Fishy Tanglewilde Condo

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Home Decor, Homes for Sale, Interiors, Real Estate Marketing, Tanglewilde
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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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Buying and Selling
01/03/08 11:40am

Welch St. Townhouse: The Holiday Premium Is Over

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Homes for Sale, Montrose, Real Estate Marketing, Townhomes
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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.

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Buying and Selling
12/19/07 1:57pm

Who’ll Take Manhattan?

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Condos, Galleria, Highrises, Homes for Sale, Interiors, Lofts
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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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