The Decreasing Profits in Houston House-Flipping; Inside Rice’s New Continuing Studies HQ

sacred heart church galveston

Photo of Sacred Heart Church, Galveston: Russell Hancock via Swamplot Flickr Pool


6 Comment

  • Regarding the Rice University article: The Chron may have already figured this out, since they changed their post title, but the Anderson-Clarke Center was not built on the Art Barn’s former location; it was built in the parking lot surrounding the RUPD station and US post office.

  • Hah that profit numbe for flippers is either complete BS or there are a lot of bad flips in there dragging down the average. I’m seeing significant profit to be had in certain areas still. You just need to know where to look. I could flip my Mom’s Oak Forest house and more than double it’s value, with a gut and addition to increase the size, which would more than cover the cost of a reno, carring costs and Realtor commission while leaving a healthy profit. I just am pissed that I won’t be able to inherit it, do those changes, and live there myself like I’ve always planned.. thanks to the same insane price value increases which make it too expensive for me to even pay the taxes on that new value.

  • I was thinking they only tore the art barn down in the last six months. That would have been pretty quick construction.

  • I like the new Anderson-Clarke Center; it’s a nice addition to the Rice Campus. Agreed, it’s in the location of the former Art Barn, really pathetic error. I had to laugh at the Rice President’s quote about the Houston feeling Rice’s importance. My God, everyone in Houston knows that Rice is like Houston’s crown jewel, its importance to Houston is immeasurable. I don’t think Houston has ever shown Rice anything but reverence, it was such an odd quote, one wonders what planet he’s on.

  • *not in the location

  • People do a lot of ridiculous flips. In Pennsylvania where I live now, I’m seeing flips around me where they’ll put in electric baseboard heat. That’s incredibly expensive in Pennsylvania, so sure, you save a little money on hardware costs because they’re the cheapest type of heat to install, but nobody in their right mind will buy the damn thing.