Hola

Need some honest feedback. I built this ~ 8 acre ranchette in between Fayetteville & Warrenton (near Roundtop) in 2022-2023. Our Goal was to sell it. Unfortunately, the market is not responding well.

I believe I was a year too late as I think by the time I finished it, interest rates had deterred alot of the buyers of country places. So, its currently listed, but just not a lot of interest.

There's lots of folks on here who enjoy ranch weekends, but wanted to some feedback on if this property is desirable and if economic conditions were different, would be an attractive investment for yourself being you're an Aggie in the Houston/ Austin Area. Cross posted on Real Estate Board and Houston Board

We're at a crossroads whether to furnish it/ VRBO it or keep marketing to sell.

Some details/Pros:

7.78 Acres unrestricted
1 ~ 1,800 sq ft ranch house, 3 bdr, 2.5 Bath
Master has full ensuite Bath
Full Kitchen and Laundry
Clean but Rustic - its not a House in River Oaks or Highland Park!
2 X ~400 sq ft casitas.
Very nice Outdoor Firepit
Several Large Majestic Oaks. One has to be 75 years old by its crown size
New Well
New Septic

Cons:

Has a high voltage line and pipeline ROW running through the corner
Small
Main House is a little tight in some areas

Here are some Photos:

(Edits for getting images to work)

Price?

There are several higher end properties in Fayette county right now in the same situation you are in. Once 2023 rolled around, the market seemed to come to a standstill. I am in Fayette county. Who is your broker? Feel free to PM me

For what it's worth, I don't think this is just a Fayette county issue. Properties are just not transacting. Especially if they're vacation style homes.

Edit to add- I found your listing. I really like how y'all staged it. Just a tough market right now. Are property taxes eating uou alive? I feel like this would be a better Airbnb/VRBO than a weekend home and should be marketed more as such. Maybe do some research into potential cashflows for a buyer?

That price point is just a bit to far out of most peoples reach in a tough economy.

redaszag99 said:

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Price?

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https://www.har.com/homedetail/3520-sykora-rd-fayetteville-tx-78940/2340250

What is around it? Is it surrounded by more "ranchettes" like it or larger properties?
Looks like a very nice place for sure.
What does that power line easement look like and what type of structures?
If it's a large type transmission line lots of folks don't want that on their property.
When searching lands I have bought I would immediately cross off the list any that had transmission lines or large pipeline easements due to the new "energy corridor" precedents that have been put into place. No matter the cost.
Too much of a chance those easements will be expanded in the future.
The market may be soft but that makes it a buyers market and that means they can afford to be picky.
So it has lots of competition out there and small objections/concerns by a buyer can hinder sales.

here is my honest assessment from a local.

First off you're with a great real estate agent. She works her butt off and does tons of business in the Austin, Washington, and Fayette counties areas.

Secondly, I think you have it priced right, and honestly lower than I would've expected. It's in a great part of the county and very quiet out there. IMO you're having trouble selling it right now because of the set up. If it was just the one main master house without the little cottages it would've sold already. You're just a little too far imo from Round Top to where it appeals to people looking for airbnb's that large on a constant basis. I know Cari deals with rentals so you may talk to her about it and see what she thinks if you haven't yet.

Regardless, if you can hang on to it and you don't have to sell it now I would. Regardless of interest rates and everything else the area out here is only growing (unfortunately) and real estate prices are only going to go up. It will pick up sooner rather than later I can promise you.

ETA: I'd add some type of carport on to the house and market it as more of a main residence in hopes a local would buy it.

Looks really nice, but not sure what I'm supposed to do with it.
Too small to hunt on.
Too small to put cattle on.
Decent drive to restaurants, grocery stores, etc.
If it's a place to get away, a pool might make it more attractive.
Maybe a big pond to fish.
Maybe a big shop.

I'd rather live there than make it a vacation home, and its too far away from city jobs. Not worth the upkeep to me as a vacation home.

As someone who bought just down the road from you at around the same time, we both bought the top of the market for now and that's just the way it is.

We couldn't get what we paid for our place if we listed it now but we were buying a place to live, not a vacation home / flip / airbnb. So we can live comfortably knowing that one day the price probably appreciates from where we bought it but that day likely isn't coming in the near term. We are content to bide our time and wait 10 years though. If you can't afford that, your timing was just regrettably bad.

There are a ton of people who were buying around that same time who have already sold for less than what they paid and took a loss.

One thing about this area is that the airbnb / vrbo dont do very well outside of the antique show. Nearly every place we have seen that was sold for that purpose in 2021-2023 has already been given up on by whoever bought it thinking they were going to cash in on passive income.

I think the others have nailed. I went and found the property and the same initial reaction. It's a great property for someone looking to live in the quiet county but then multiple houses confuses that. It's not big enough to be a weekend getaway away property.

It's effectively set up for rentals so either you need to go down that path in my opinion, or hope you can find someone that wants to go down that path. The unicorn situation would be a buyer that wants the piece and quiet but likes the idea of additional income from renting out the smaller houses but again, that's a very specific buyer pool that's very limited

Quote:

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everything else the area out here is only growing (unfortunately) and real estate prices are only going to go up. It will pick up sooner rather than later I can promise you.

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This ^

I had not been to Round Top in 20 years. Went "off show" one weekend and could not believe the number of people, the bars, the restaurants, the shops. And the clientele! It looked like someone drove around the Heights, Montrose, Rice Village, and River Oaks, picked up 500 folks, and dropped them into Round Top. And this was off show. I can't imagine it during peak season.

The place you have will be desirable to the right buyer. But yes, the market is slow right now. No one wants to talk about it, but the first 100 days of Trump were pretty dramatic. Whether those impacts will be good or bad...time and history will tell the story. But drama and uncertainty dont open wallets.

where are you from and where do you live at now skinny?

Posted the same on the other thread:

It looks like a cool place. I have a friend who is trying to sell his ~30 acre place in New Ulm and he hasn't had showing in months. However, his realtor and realtors I am talking to for something I am looking for act like the market is great. There's definitely a disconnect between what the realtors are saying and reality. I think the problem is realtors are still telling sellers they should list at 2021 prices and buyers aren't having it.

Quote:

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The place you have will be desirable to the right buyer. But yes, the market is slow right now. No one wants to talk about it, but the first 100 days of Trump were pretty dramatic. Whether those impacts will be good or bad...time and history will tell the story. But drama and uncertainty dont open wallets.

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Agree with all of this.

To slightly derail, we are looking at some places in Fayette County in the 150+ acre market. I've been generally unfamiliar with the area until lately. What's the feel for folks that live/have places there? It would primarily be a getaway place with the occasional hunting.

htownag2007 said:

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To slightly derail, we are looking at some places in Fayette County in the 150+ acre market. I've been generally unfamiliar with the area until lately. What's the feel for folks that live/have places there? It would primarily be a getaway place with the occasional hunting.

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The "feel" kind of depends a lot on what part of the county you're looking in. I can give more specifics if you can get more specific. I will say that overall Fayette county is a great place and still very "small town".

It's awesome. I wish we could spend more time there. It's amazing what RT has turned into since I first went out there 20 years ago.

My in-laws have a place a little bigger than that about ten minutes from town, so I'm very lucky. It's an hour and a half drive from our house in Houston, which makes it easy to get out there when the kids don't have stuff going on.

I do worry about people selling/subdividing, but I think it's somewhat safe where we are for now. It would definitely ruin the feel to have 20 neighbors. As it is we might see a few cars drive by a day.

As someone who has just driven through, that area has seemed really oversaturated with for sale signs for a while now. Looked to be a mass of people chasing investment returns right about the time interest rates went up. Could take years to absorb if rates dont fall.

Could the property be divided? Market one piece as a blank homesite and the other as what it is. Would bring in a whole other buyer pool. Then if the current house sells, hold the empty property for a bit. Or if the empty property sells, it would relieve some of the pressure from holding the house.

htownag2007 said:

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To slightly derail, we are looking at some places in Fayette County in the 150+ acre market. I've been generally unfamiliar with the area until lately. What's the feel for folks that live/have places there? It would primarily be a getaway place with the occasional hunting.

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My family has a 150 acre place in the middle part of the county (a little west of Freyburg) and I can tell you that it's the most serene place I've ever been.

These days I rarely visit since I primarily do business and live in McLennan county, but when I do go there, it's so quiet you can hear a pin drop (and an occasional cow). It's scenic, too, with gently rolling hills and friendly neighbors spaced plenty far away.

If I ever got to the point where I didn't enjoy working as much as I do, I'd consider moving there and kicking back, but I bet my wife would beg to differ. Fayette's selection of stores and restaurants is a little lacking by her standards.

AustinCountyAg said:

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where are you from and where do you live at now skinny?

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Houston

Grew up in NW Harris Co between Cypress & Tomball

Thank you for all the good comments and insight.

Thanks all. Western half of the county

I assume it doesn't have an ag exemption.

We are in the western half. As long as you don't plan on subdividing that 150 acres, you're more than welcome! Ha

Ribeye-Rare said:

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htownag2007 said:

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To slightly derail, we are looking at some places in Fayette County in the 150+ acre market. I've been generally unfamiliar with the area until lately. What's the feel for folks that live/have places there? It would primarily be a getaway place with the occasional hunting.

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My family has a 150 acre place in the middle part of the county (a little west of Freyburg) and I can tell you that it's the most serene place I've ever been.

These days I rarely visit since I primarily do business and live in McLennan county, but when I do go there, it's so quiet you can hear a pin drop (and an occasional cow). It's scenic, too, with gently rolling hills and friendly neighbors spaced plenty far away.

If I ever got to the point where I didn't enjoy working as much as I do, I'd consider moving there and kicking back, but I bet my wife would beg to differ. Fayette's selection of stores and restaurants is a little lacking by her standards.

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all you need is Pivo's!

FM 949 said:

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Ribeye-Rare said:

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htownag2007 said:

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To slightly derail, we are looking at some places in Fayette County in the 150+ acre market. I've been generally unfamiliar with the area until lately. What's the feel for folks that live/have places there? It would primarily be a getaway place with the occasional hunting.

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My family has a 150 acre place in the middle part of the county (a little west of Freyburg) and I can tell you that it's the most serene place I've ever been.

These days I rarely visit since I primarily do business and live in McLennan county, but when I do go there, it's so quiet you can hear a pin drop (and an occasional cow). It's scenic, too, with gently rolling hills and friendly neighbors spaced plenty far away.

If I ever got to the point where I didn't enjoy working as much as I do, I'd consider moving there and kicking back, but I bet my wife would beg to differ. Fayette's selection of stores and restaurants is a little lacking by her standards.

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all you need is Pivo's!

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HEB in La Grange is nice, and I'd argue that Fayette County has some of the best bars/restaurants in the state per capita.

In no particular order as far as GREAT places to eat/drink we frequent the most:
Royers
Orsaks
Pivos
JW's
Winchester
Boon and Co
Weikels
Hruska
Robert's Steakhouse

I'd add The Garden Co to that list. Had an excellent meal there a few weeks ago.

CS78 said:

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As someone who has just driven through, that area has seemed really oversaturated with for sale signs for a while now. Looked to be a mass of people chasing investment returns right about the time interest rates went up. Could take years to absorb if rates dont fall.

Could the property be divided? Market one piece as a blank homesite and the other as what it is. Would bring in a whole other buyer pool. Then if the current house sells, hold the empty property for a bit. Or if the empty property sells, it would relieve some of the pressure from holding the house.

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Been fishing Fayette Co since I was a teenager so its been a decade or two!! And fish there multiple times a year.
It's crazy how much it's grown out there but it hit warp speed out there within the last decade. Cheap rates had folks going crazy especially once covid hit and WFH became the new norm for many.

Ha. My plan is for that to be my kids/grandkids problem to figure out.

htownag2007 said:

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To slightly derail, we are looking at some places in Fayette County in the 150+ acre market. I've been generally unfamiliar with the area until lately. What's the feel for folks that live/have places there? It would primarily be a getaway place with the occasional hunting.

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We were looking for properties that size and larger from 2021-22 and there just weren't hardly any of them available. Everything is subdivided to 40 acres or less. The few that came available had MAJOR issues from survey / easement standpoints and sold for well under asking price. But we weren't looking for lemons so we settled for something closer to the 40 acre level.

Agree to disagree on restaurants. Coming from a bigger area, most people will be disappointed in what is available here.

Grocery wise I agree with you, the HEB and Walmart here are probably as top notch as could be for a community this size. Just enough stuff at the local hardware stores as well to avoid most trips to Brenham or Bastrop to Home Depot / Lowes. But the restaurants leave a bit to be desired.

you have to accept the fact that you will have to drive some distances. This isnt the suburbs.

I lived most my life in a small town, well aware of that. That's why we moved here. Doesn't change the fact that those moving in from Katy or New Braunfels or name any suburb wouldn't be a little underwhelmed by the food. By small town standards it's about as you would expect, I will grant you that. That doesn't take away at all from the concept that this is a great place to live.

flashplayer said:

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Agree to disagree on restaurants. Coming from a bigger area, most people will be disappointed in what is available here.

Grocery wise I agree with you, the HEB and Walmart here are probably as top notch as could be for a community this size. Just enough stuff at the local hardware stores as well to avoid most trips to Brenham or Bastrop to Home Depot / Lowes. But the restaurants leave a bit to be desired.

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people may be disappointed in the lack of options (its a small county in the country), but the quality of restaurants in Fayette County are great imo, like I said considering the per capita.

AustinCountyAg said:

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flashplayer said:

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Agree to disagree on restaurants. Coming from a bigger area, most people will be disappointed in what is available here.

Grocery wise I agree with you, the HEB and Walmart here are probably as top notch as could be for a community this size. Just enough stuff at the local hardware stores as well to avoid most trips to Brenham or Bastrop to Home Depot / Lowes. But the restaurants leave a bit to be desired.

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people may be disappointed in the lack of options (its a small county in the country), but the quality of restaurants in Fayette County are great imo, like I said considering the per capita.

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I think there's a difference between the county and La Grange. Yes, the county has good options, it just seems like Flash is talking about La Grange. La Grange has just always struggled with restaurants. Not a big deal to drive around the county in my opinion. All the restaurants you listed are not in LG (except weikels).

Maybe I'm reading this wrong though. I don't think it's a secret that everyone thinks La Grange is lacking restaurants, but not the county to your point AustinCounty

Yes, I would agree with everything you wrote. Depending where you are located in the county, some places are easier to get to than others. Since we go to La Grange most often when needing something and since that is where most the events are, there aren't many good options close by.

And I apologize to the OP as I did not intend to derail.