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Mark Resident

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Everything posted by Mark Resident

  1. Looks like another cheesy staycation being built. This side of the Galleria can’t catch a break. Crime is really getting bad around here. I hear the Galleria Mall is getting more dangerous with each passing year. My condo building has seen more breakins lately. very sad and disappointing…
  2. Just a passing observation about the property across the street. 3535 Sage Road has a big for sale sign advertising 8.2 acre tract of land for sale. That’s pretty big chunk of land for this area. Also just south of 3525 Sage condos. Right now there is an abandoned two story commercial bldg along with a really big ugly parking lot. Looks like plenty of development opportunities around here… keeping my fingers crossed. Need lots more lovin in this part of town!
  3. Funny… you would think that with oil over $80 and not likely to drop anytime soon that they could tough it out a little longer. Big oil companies are starting to loosen their purse strings although cautiously. Economy overall seems pretty strong right now. Job demand is at all time highs… rising wages, etc. Of course, construction costs are likely to remain elevated too.
  4. Working on the east side of the property today. I keep reading that construction costs are starting to come down. Let’s keep our fingers crossed!
  5. Last week I noticed some activity on the site… looks like someone delivered some drainage pipe/culverts. Nothing this week. What a tease!
  6. Very disappointing... I had high hopes for this property. I suppose we will end up with another 4 story apartment building. Ugh!
  7. Just an FYI regarding the Mercer... our general manager at the Mark worked at the Mercer when it first opened. Apparently the skyrocketing price of cement prevented the second tower from being built. Just as well if you ask me. Same developer built both the Mercer and Mark and then went bankrupt. Back to topic... I noticed some soil testing (is that what they call it when drilling holes all over the property?) about 6 months ago on this property. Hope this and the McNair developments happen. This side of town desperately needs some lovin... The Bristol and particularly 3525 Sage is looking pretty shabby. The Mark was recently painted and is holding its own but we could use some new investment over our way.
  8. Why do they keep building apartments when the market is so saturated?
  9. I do not see an update other than the picture. Was there some kind of announcement about this or link? Thanks
  10. Looks like activity continues unabated. It’s interesting that they are already looking at windows. I thought that would occur later in the building process. I’m assuming that is a good sign for continued development past the initial infrastructure buildout.
  11. If you are native to Houston you have witnessed the cyclical nature of the oil industry and its impact on all things Houston, including real estate of course, going back many years. I still remember trying to get my career as an accountant off the ground in the mid 80’s when the local unemployment rate was 12%. Almost had to leave the city to find a job but got lucky at the last minute. And there have been several downturns (including this one) ever since. And without exception, everyone of those downturns was an opportunity to buy into Houston’s economy at a discount and reap big rewards later on. I don’t see why this downturn would be any different...
  12. Topping off pic from top of the Mark. Nice to see a building finally crashing through the 30 story glass ceiling.
  13. They seem to be stepping up the infrastructure build out. The culverts are new additions along with the dirt pile which is growing by the minute. Lots of activity. I hope to post pictures of the building construction if it comes to fruition... keeping my fingers crossed!
  14. What a stupid comment... I'm saying that people like that do not deserve respect. His comment came at the end of the meeting. I was respectful (as was my freind), throughout the entire meeting. I was frustrated when they started their double talk but it did not matter by that time.
  15. "Too much to ask"?? Sorry, I don't buy it... The "third party" appraisor did the same types of adjustments by making comparisons with other units in the building, allowing for differences in sq feets, upgrades, and elevation. It was very clear from his data sheet how he came up with his adjustments; and...... they were reasonable. This information could have been made available very easily if HCAD wanted to make it available. Of course, keeping the "unbiased" panel in the dark does make for a convenient excuse... As for respect; everyone wants to be treated with respect, but it works both ways. The kind of arrogance that I saw on display during this hearing when (certain) panel members were deliberately playing stupid when I would point out discrepancies or trying to run out the clock to avoid any kind of explanation for how the did things was punctuated by the panel members sarcastic remark about the how the arbitration rules were "available in both English and Spanish" which was directed at my freind who is asian. There was no mistaking his attitude when he said it. This kind of behavior is neither respectful nor is this person deserving of respect.
  16. He paid a whole lot more than it was worth on December 31st, that's for sure... Lets see... from Jan 1 2008 to the present, the highest amount paid for a unit at the Mark was 260000 other than a penthouse that sold for 325k. It was a unit on the 27th floor with 1401 square feet and is very comparable to my freinds unit. It also has the best view. You will find little difference between this unit and any on the 28 or 29 floors. I live there; I would know. It was sold in May 2008; before the financial crisis. Now, armed with that knowledge and you see a unit on the 2nd floor "grossed up" to $351,000, as presented by the appraisal district, what would your reaction be? How about "where did THAT number come from? "I'm sorry sir I don't have this information available and, gosh, we seem to be running out of time and we have to make a decision right now"!!! "Can't that guy on the other side of the table tell me?" No, he has already had his turn to speak". Come on... that's total BS!
  17. You may want to look a little closer... There are two big penthouse units for sale. One for $999K and one for $599K. The 599 is an empty shell. The 999 is completed. Both have nearly same sq feet. Both are valued at $472K by the HCAD. Yup. They (especially the $999k unit) got a good deal from HCAD. There are only two other units for sale with an asking price above $300K. One small penthouse that just went on the market for about $350k and one on the 20+floor for 325. The 325 has been on the market for about 6 months. As i said, nothing has sold for anything close to $300k since last summer, and that includes sales of units on the higher floors. It is SALES that counts, not SALES LISTINGS...
  18. Why do professional appraisals have no bearing...??? Without some type of proffesional opinion about the value of your property, how do you support your case? Thanks for your input...
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