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Aggie Friends selling beautiful home in Midland

3,419 Views | 35 Replies | Last: 3 yr ago by Win At Life
TimParker
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https://www.zillow.com/homes/1101-Breckenridge-Dr-Midland,-TX,-79705_rb/80092602_zpid/

Pretty cool corner lot across from pool and playground in a nice neighborhood, and great people. Happy to get you in touch with them, as needed
Ted Lasso
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looks like oil market has put up a few homes for sale in Midland, wow
Cyp0111
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Seems expensive esp once all the independents get smashed
SquanchyAg
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Seems super expensive for a home in midland. What am I missing?
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The Fife
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The listing for this one started with "ABSOLUTELY STUNNING" and I wanted so bad for the next two words to be CUSTOM HOME.

At almost 3/4 $million it seems wildly overpriced. What am I missing here?
one MEEN Ag
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AG
The Fife said:

At almost 3/4 $million it seems wildly overpriced. What am I missing here?
Wives who get dragged out to midland demanding they have everything pinterest says a stay at home mom should.

You try putting a 27 year old wife with 2 kids into a 3 bedroom older home to save some of that oilfield paycheck. It doesn't end well.
Cyp0111
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Thats fine but that house is basically track + at best and the price point seems absurd. They may have paid that but sure seems like that is a stretch at best ask to live in a dump like Midland during the longest sustained bust since 86.
The Fife
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That's about what I was thinking - it's not spec'd out like I'd expect something at that price level would be, and there's not a bunch of land making up for it. It reminds me of some of the listings I saw 10 years ago where they were priced high to try and avoid a short sale.
CaptnCarl
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AG
Cyp, I had a hunch you were an ahole, and this totally confirms.

These people are obviously struggling and trying to sell their house, and you feel the need to bash their listing?

You know people are struggling in Midland, so why pile on?
one MEEN Ag
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AG
Cap,

Tax records on Zillow show that house was built/bought in 2016 for probably less than the 595,000 it was originally posted and then pulled off the market. So it looks like there is some room to come down on the price, and judging by the fact they are trying to sell during the worst time possible they're going to have to come down.

Yes, this thread is a little brash, I'm sure that family is struggling. But nobody told them they had to buy that home in the first place, and Midland is the most quintessential equity trap in Texas.

Some constructive advice:

If I were the homeowner. I would honestly recommend trying to do whatever it takes to hold onto that house and not sell. And then when oil comes back in 2021 you sell and exit Midland's housing market. But once oil comes back, its hard to leave.

This house is just the symptom of an industry problem with buying in Midland and spending oil salaries like they never go away.


CaptnCarl
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AG
I absolutely agree, but they weren't coming here for advice, and certainly not to be bashed. Their real estate agent has likely had that conversation with the seller. There's especially no need to bash Midland, especially when a lot of Aggie's are raising families here.

I think the old saying goes "if you don't have anything nice to say, don't say anything at all."
Cyp0111
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So, let me get this straight. I checked the tax roll and purchase date and came up with a price in mid 550s-to 575 max. Little has been done to upgrade the house which is fine. The house was listed at $745K which seems extremely high given what is going on in Midland.

The facts are it's a tract + house in almost every market. I feel for whomever owns it and do not wish misfortune on anyone, however, like with oil and gas assets, sometimes reality is cruel and you have to adjust marks.
CaptnCarl
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AG
Look, I agree about the numbers, and I personally would never buy in those spec neighborhoods north of the loop. All those are valid.

That doesn't mean you have to continue on to call Midland a dump. You also don't need to remind folks in Midland that this is a bust not seen since the '80's. People know that. Just keep your mouth shut, or go bash random listings in the 'stunning custom home' thread.
FC12
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Why are you taking this thread so personally?
Cyp0111
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Been to Midland enough. West Texas has great people and some nice points. Let's not kid ourself, Midland is a ****hole
CaptnCarl
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AG
Because I live in midland, and know many people who are laid off and struggling financially, especially with their homes, like the Ag trying to sell his house in the OP.

That is why.
CaptnCarl
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AG
Cyp0111 said:

Been to Midland enough. West Texas has great people and some nice points. Let's not kid ourself, Midland is a ****hole


Nobody has proclaimed Midland to be paradise on earth.

Let's not kid ourselves, you still sound like an *******.
Ted Lasso
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CaptnCarl said:

Look, I agree about the numbers, and I personally would never buy in those spec neighborhoods north of the loop. All those are valid.

That doesn't mean you have to continue on to call Midland a dump. You also don't need to remind folks in Midland that this is a bust not seen since the '80's. People know that. Just keep your mouth shut, or go bash random listings in the 'stunning custom home' thread.
And you're the one calling others the ahole? Ok internet tough guy
Cyp0111
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It's personal. That makes sense now given your response. Not trying to pound anyone while down. However, if they want to sell the house....
CaptnCarl
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AG
I 100% agree...but can't blame them for trying to market and get all they can.

Apologies for the ahole comment.
Cyp0111
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It's fine. I get it. tough times for all. Hope they get it off within 10% of that number.
NWE
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AG
Imagine what $740k gets you in _______. (Insert any town here)
JamesBREI06
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AG
NWE said:

Imagine what $740k gets you in _______. (Insert any town here)


Not too much in my neighborhood
Whoop!
CaptnCarl
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AG
You guys are going to lose it on this one!

https://www.usamls.net/legacyrealestate/default.asp?content=expanded&this_format=0&mls_number=50035345&fbclid=IwAR3usaPqas9gqHpcgIZpyn1sw9PysFT5L0g0chzkTmwMnaQH8jXcSA7kYCs
Cyp0111
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Atleast that one is a nice setup
Ol_Ag_02
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AG
At least the second one has a nice pool set up with some grass.

Plus the pool is kind of hidden between the two structures. I bet if you closed your eyes it would almost be enough to make you forget you're living in Midland.
Medaggie
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Just curious and didn't cross my mind that Midland's real estate must be getting decimated. Looked on Zillow's Midland map and it is essentially red.

Prayers for all of the oil town.
Mas89
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AG
Cyp0111 said:

Thats fine but that house is basically track + at best and the price point seems absurd. They may have paid that but sure seems like that is a stretch at best ask to live in a dump like Midland during the longest sustained bust since 86.
There is a good reason to live there. Plenty of Aggies there make more per year than that house is listed for.
Ol_Ag_02
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AG
Mas89 said:

Cyp0111 said:

Thats fine but that house is basically track + at best and the price point seems absurd. They may have paid that but sure seems like that is a stretch at best ask to live in a dump like Midland during the longest sustained bust since 86.
There is a good reason to live there. Plenty of Aggies there make more per year than that house is listed for.


We all know why people choose to live in Midland. But let's be honest, making $750,000 per year puts you in the 99.7th percentile in the United States.

Sure there are some Aggies making that amount of money per year, but plenty, it ain't.

And most of the guys making that kind of scratch aren't going to live in midland, they live in Dallas and Houston, to keep their wive's happy. Private jets exist for a reason. Get it, get out.
CaptnCarl
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AG
If you have private jet access, and wife still isn't happy living in midland, the problem may be the wife and not midland.
Yesterday
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AG
CaptnCarl said:

If you have private jet access, and wife still isn't happy living in midland, the problem may be the wife and not midland.


Isn't that always the problem?
TxAG#2011
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CaptnCarl said:

If you have private jet access, and wife still isn't happy living in midland, the problem may be the wife and not midland.
Nah it's still Midland
Cyp0111
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Private jet access on a $750K salary may be the joke in all of this.
Ol_Ag_02
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AG
Plenty of companies have private jet access. It's not uncommon for C-Suite personnel to utilize it.

I'm not saying at $750,000 you've got your own private jet.
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