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Started By
Message
re: Houston mansion with over $600k in improvements listed for only $799K
Posted on 4/15/24 at 7:16 am to BregmansWheelbarrow
Posted on 4/15/24 at 7:16 am to BregmansWheelbarrow
quote:
Gunspoint must be leaking in a little more
Fify
0
Posted on 4/15/24 at 7:17 am to hikingfan
5000 sq foot is a mansion. 25000 sq ft is a mega mansion
Posted on 4/15/24 at 7:17 am to boddagetta
Mansion is at least 5,000 square feet - maybe more. The house in the OP is a large house. It's not a mansion.
Posted on 4/15/24 at 7:20 am to Rize
quote:
I have houses like this pop up on my search on Zillow all the time. I don’t know what it is about Houston but they have some ugly arse houses.
Houston was booming in the 1970s. Houses like the one in the OP are a dime a dozen.
The price on this one is odd. I take in the school district must be bad? Neighborhood seems fine on google maps. Its out by Willowbrook Mall which is kind of meh but it's pretty much a standard suburban neighborhood.
Posted on 4/15/24 at 7:23 am to hikingfan
Houston is so cheap for buying houses because it has a huge urban sprawl compared to Austin and Dallas. It has a lot more in common with Midwestern cities.
This post was edited on 4/15/24 at 7:26 am
Posted on 4/15/24 at 7:26 am to frequent flyer
quote:
Its out by Willowbrook Mall which is kind of meh but it's pretty much a standard suburban neighborhood.
The Willowbrook area is not considered a good neighborhood anymore. People are moving farther out in mass. The area and the Schools are declining rapidly.
Posted on 4/15/24 at 7:33 am to hikingfan
I think the realtor is playing cute with words. They don’t say “upgrades” which is how everyone is interpreting the $600k figure. Improvements is literally how any construction on a piece of land is classified.
Posted on 4/15/24 at 7:38 am to hikingfan
There is only one outcome for Houston. It’s no different than what 90% of the major metro US cities outcomes will be.
Old cities have to die so new ones can be built. We will have vast dystopian metro areas in the next 50 years.
Old cities have to die so new ones can be built. We will have vast dystopian metro areas in the next 50 years.
Posted on 4/15/24 at 7:53 am to frequent flyer
It's on the wrong side of FM1960. Represented by Congressqueen Sheila Jackson Lee now.
If you didn't care about public school zoning, it might not matter much. But it's not the hot growing area it was in the 1970s or 80s.
If you didn't care about public school zoning, it might not matter much. But it's not the hot growing area it was in the 1970s or 80s.
Posted on 4/15/24 at 7:57 am to hikingfan
That general area had been in a 20 year downward spiral. From when that home was built in 1975 until probably 2005 that was a decent area to have an upper middle class home in. As a few have mentioned the encroaching bad elements have probably gotten just too close for comfort for some buyers. Problem is it is inevitable that area craters even further. Those that can are finding homes in areas far west, northwest and north of Houston. Houston is not alone with this problem. As many companies have now allowed hybrid work schedules many have decided that extra drive hours on fewer days of the week are worth living in what they consider much safer areas. Houston region neighborhood evolution either up or down are stark realities.
Posted on 4/15/24 at 8:00 am to East Coast Band
Just the main house or are you counting in the square feet from the adjoining buildings?
Posted on 4/15/24 at 8:01 am to hikingfan
The inside of that place looks like an overcrowded antique shop
Posted on 4/15/24 at 8:07 am to frequent flyer
quote:
Houses like the one in the OP are a dime a dozen
Not in a great area. This same house in The Woodlands would easily be over 1 million. That area is just aging. Tons of nice houses, but not a lot that would make me want to live there.
Posted on 4/15/24 at 8:19 am to lsu xman
quote:
What was the property tax on it?
2.23% so about $1000 a month after homestead. Thats what sucks about Houston area. A lot of the communities I’m looking at are 2.9% to 3.2%. Even if you had the cash to pay for something like this in a new area it’s still going to cost you $2300 to $2500 with taxes, insurance, and HOA.
House like this with 20% down and 3.2% tax rate is going to be over 6k a month for mortgage.
This post was edited on 4/15/24 at 8:27 am
Posted on 4/15/24 at 8:35 am to OceanMan
quote:
Greater Houston is a huge and unique housing market
When it comes to the suburbs you are paying for the school district. Big house in good school district plus upgrades. Still probably too expensive.
We paid 300k for ours in The Woodlands but that was in 2016 and you could find some deals back then. Our house assessed for 500k after we fought the county on the value of the house, they tried saying over 600k.
This post was edited on 4/15/24 at 8:38 am
Posted on 4/15/24 at 8:58 am to Cymry Teigr
quote:
$600k
It looks like they did $10K at a time.
I'll bet my 401(k) that it has roof leaks in multiple places, even with all those gutters running all over the place
Posted on 4/15/24 at 9:10 am to hikingfan
That area is becoming increasingly ghetto
This post was edited on 4/15/24 at 9:10 am
Posted on 4/15/24 at 9:29 am to hikingfan
It's not in a desirable neighborhood. That area has gone down a lot in the last 5-10 years..
Posted on 4/15/24 at 9:32 am to foosball
yep that area is aging and there is a shift in the demographics. Zoned to Klein Forest High School which is not good.
Plus side its only 30 minutes to downtown Houston)
Plus side its only 30 minutes to downtown Houston)
Posted on 4/15/24 at 9:45 am to MAROON
Gotta factor in what all the nearby homes in the neighborhood are selling for.
It may be the top end of the neighborhood range, and the additional $$ spent on improvements don’t necessarily bring the same additional value to buyers.
It may be the top end of the neighborhood range, and the additional $$ spent on improvements don’t necessarily bring the same additional value to buyers.
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