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**”
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?
Our reader suggests:
I would guess the selling price would be around 300k. I have not seen any other properties in Bellaire that are trying to get anywhere close to 700k for a lot.
Update, 7/28: As several Swamplot readers have noted in the comments, the price was lowered by $100K earlier today. Got any other properties you’d like to see price adjustments on? Send them in!