http://search.har.com/engine/537-W-17th-St-Houston-77008-3631_HAR76522926.htm

$499,900?

I admire the unrealistic expectations.

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$499,900?

I admire the unrealistic expectations.

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already have offers coming in at that price...

The lot really worth 400k? You expecting the buyer to tear down the house an build a worthy improvement for such a valuable lot?

It's silly season in heights real estate.

Have yall accepted any of the offers for asking price yet?

How much did they sink on the remodel?

I think you'll definitely get at least close to what you're asking. Very nice house with a lot of charm, in a super popular neighborhood. My prediction is that some rich trust fund liberal elitists will buy it (the reason I took down the "thumbs up" emoticon) for at least $480k. They may even put chicken coops and a half assed veggie garden in the backyard like our democrat neighbors next to us did when we lived in the heights. They love to buy old 1920's cottage-style houses and "play farm" for a bit. Problem is, that ultimately over-time it is revealed that they'd rather spend hours with their iPad's and other high-tech toys, and they begin to neglect their country projects, which were just a silly fad to make themselves feel cool and unique and hard-working to begin with. Sorry, I'm rambling...be patient...you'll do well on this house.

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I think you'll definitely get at least close to what you're asking. Very nice house with a lot of charm, in a super popular neighborhood. My prediction is that some rich trust fund liberal elitists will buy it (the reason I took down the "thumbs up" emoticon) for at least $480k. They may even put chicken coops and a half assed veggie garden in the backyard like our democrat neighbors next to us did when we lived in the heights. They love to buy old 1920's cottage-style houses and "play farm" for a bit. Problem is, that ultimately over-time it is revealed that they'd rather spend hours with their iPad's and other high-tech toys, and they begin to neglect their country projects, which were just a silly fad to make themselves feel cool and unique and hard-working to begin with. Sorry, I'm rambling...be patient...you'll do well on this house

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solid broad brushing you did here.

is it really "broad brushing" if its what he observed?

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is it really "broad brushing" if its what he observed?

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Using 1 neighbor a his example... Yes

got multiple offers overlist , just signed this morning now going under contract. obviously deal isnt finished till the money hits the bank, but optimistic

in what ****ing world is that piece of **** 1200 sq ft house worth half a million dollars? I know I get made fun of because I live in Lakes of Fairhaven in the Cypress-burbs, but my house is 7 times that size and costs 2 times as much.

I am quite curious what a lot would go for in that hood.

whats the first rule of real estate? Location Location Location

lot would go for mid 400's for 7500 sq ft.

but honestly that varies wildly from street to street

19560 sq ft lot just went for 1.3mill

Biggest real estate mistake ever was me not buying this house, should have bought, gutted, added 2000 sq/ft and sold for a $1,000,000.

http://www.har.com/HomeValue/1212-Tulane-Houston-77008-M53071068.htm

that house was on a 8800 or so sq ft lot. builder bought it, split the lot and then built a huge house on the empty lot and a year later sold the old house for slightly higher than what he bought the whole original undivided lot for...

http://www.har.com/HomeValue/1212-Tulane-St-Houston-77008-M30626517.htm

you can see the new build going up on the right side.

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that house was on a 8800 or so sq ft lot. builder bought it, split the lot and then built a huge house on the empty lot and a year later sold the old house for the same price he bought the whole original undivided lot for...

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That was before I ever saw it, the POS house still there and the 4400sqft lot is still worth quite a bit imho.

It was already split when I saw it*, the land was cleared for the other house when the listing I posted sold.

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that house was on a 8800 or so sq ft lot. builder bought it, split the lot and then built a huge house on the empty lot and a year later sold the old house for the same price he bought the whole original undivided lot for...

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That was before I ever saw it, the POS house still there and the 4400sqft lot is still worth quite a bit imho.

It was already split when I saw it*, the land was cleared for the other house when the listing I posted sold.

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i think i remember seeing they were petitioning to tear it down, its in the historic district so there are some hoopes to jump through.

What information did you get on how much the larger lot size added to the value of the property? We have a double lot...so just curious how much market value that may add to the $/ft2 comp analysis.

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The market in the Heights is insanely strong. It will surely drop at some point, but it's location will always keep the values higher than the suburbs.

I have twice sold homes in the Heights in the last 5 years. Each time I had multiple offers above asking price within a couple of days after listing, and asking was already aggressively high. After going back to them, the winners went higher, and both sales closed with incredible profits.

This is great when selling, but it sucks when buying. I have bid above asking on three homes on the first day they hit the market, and on a couple didn't even get a chance to up my offer.

If you value what the Heights has to offer, then you pay the going rate. If you value other things more, like good schools and large floor plans, then you don't.

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Zero inventory certainly helps.

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What information did you get on how much the larger lot size added to the value of the property? We have a double lot...so just curious how much market value that may add to the $/ft2 comp analysis.

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$ per sq foot of land in the heights is anywhere from $40-75 a sq ft if its on a desirable street ($40-45 for a crappy street). This varies wildly from street to street with some areas even getting more per sq ft. Price per sq ft is hard to pin down as well as a 1200 might sell for more than a 1900sq ft house. its all location inside the heights. Is the house itself attractive and have a bungalow or victorian cottage look to it? More $

If you take a 2000 sq ft house from the suburbs and put it next to a 1400sqft bungalow with similar cost to build and features, in the heights the 1400 sq ft will sell for way more.

Long response i know with out totally answering the question but if its a double lot on a good street, expect 60-70 for the dirt.

There are so many variables i cant narrow it down. I'm not a Realtor but i have spent the last 5 years researching what is listed sold and bought in the heights. On average I am probably searching at least 30 min a day. i have a good feeling on what prices should be. Get a Realtor that knows the area really well and then dont over list it...saw a house that could have sold for $450K had they listed it there but they listed at $525k and finally sold for $425K

http://www.har.com/HomeValue/517-W-17th-St-Houston-77008-M88045494.htm

this was a super nice huge house. $3800 sqft. If it was laid out differently and built in a craftman/bungalow style instead of townhome ish, it would have got 900K