sampson32 Posted October 17, 2006 Share Posted October 17, 2006 My friend is asking for advice on these empty lots, but I have no idea how to price them. Do these look like good deals? $19000- Near Scott and 45http://realestate.chron.com/sales/Listing....id=2842-9419683$14,000 Off of Elgin and 59http://realestate.chron.com/sales/Listing....id=2069-6238952 $19000- This one is off Elsyian (North Main?)http://realestate.chron.com/sales/Listing....id=2069-2557627Thanks! Link to comment Share on other sites More sharing options...
TheNiche Posted October 17, 2006 Share Posted October 17, 2006 My friend is asking for advice on these empty lots, but I have no idea how to price them. Do these look like good deals?What are your investment objectives? Strategy? Link to comment Share on other sites More sharing options...
Pumapayam Posted October 17, 2006 Share Posted October 17, 2006 What are your investment objectives? Strategy?Land that cheap is good, but you have to realize that the area in general is not much of a deal when the surrounding area won't justify an increase in property value.Around Jeanetta and Richmond (Just south of the Westchase District) land over there goes for around $40K for the same lot size. And the area is not much better, but it is further away from the epi-center of Houston. Link to comment Share on other sites More sharing options...
Guest danax Posted October 18, 2006 Share Posted October 18, 2006 My friend is asking for advice on these empty lots, but I have no idea how to price them. Do these look like good deals? $19000- Near Scott and 45http://realestate.chron.com/sales/Listing....id=2842-9419683$14,000 Off of Elgin and 59http://realestate.chron.com/sales/Listing....id=2069-6238952 $19000- This one is off Elsyian (North Main?)http://realestate.chron.com/sales/Listing....id=2069-2557627Thanks!Those two for 19K might be "in the path of progress"; the Southeast Metrorail line and the Hardy Tollroad extension coming into DT, which would probably make them lousy investments if they were to be absorbed by eminent domain.I'm surprised the 3rd Ward one is so cheap, but what do I know, since there are townhomes popping up around there and the location is great, in terms of proximity anyway. Link to comment Share on other sites More sharing options...
musicman Posted October 18, 2006 Share Posted October 18, 2006 Those two for 19K might be "in the path of progress"; the Southeast Metrorail line and the Hardy Tollroad extension coming into DT, which would probably make them lousy investments if they were to be absorbed by eminent domain.I'm surprised the 3rd Ward one is so cheap, but what do I know, since there are townhomes popping up around there and the location is great, in terms of proximity anyway.They all seem very reasonable to me as well. Link to comment Share on other sites More sharing options...
jdbaker Posted October 19, 2006 Share Posted October 19, 2006 Those two for 19K might be "in the path of progress"; the Southeast Metrorail line and the Hardy Tollroad extension coming into DT, which would probably make them lousy investments if they were to be absorbed by eminent domain.I'm surprised the 3rd Ward one is so cheap, but what do I know, since there are townhomes popping up around there and the location is great, in terms of proximity anyway.Actually, owning land that is absorbed by eminent domain can be quite lucrative if have good lawyers. Link to comment Share on other sites More sharing options...
Original Timmy Chan's Posted October 19, 2006 Share Posted October 19, 2006 Actually, owning land that is absorbed by eminent domain can be quite lucrative if have good lawyers.By buying the lot, haven't you just set the minimum market price?I would think the absolute worst case is that you'd get your money back. Link to comment Share on other sites More sharing options...
Houston1stWordOnTheMoon Posted October 19, 2006 Share Posted October 19, 2006 By buying the lot, haven't you just set the minimum market price?I would think the absolute worst case is that you'd get your money back.this makes good sense Link to comment Share on other sites More sharing options...
Original Timmy Chan's Posted October 19, 2006 Share Posted October 19, 2006 $19000- Near Scott and 45http://realestate.chron.com/sales/Listing....id=2842-9419683Beware, this lot is 50' x 50'. You couldn't fit a standard single-family home on this...the lot's not deep enough. Keep that in mind, you'd need to buy more than one lot to build anything.$14,000 Off of Elgin and 59http://realestate.chron.com/sales/Listing....id=2069-6238952This one's even smaller at 50' x 39'. Look into buying the next two adjacent lots to make a 50' x 117' site.$19000- This one is off Elsyian (North Main?)http://realestate.chron.com/sales/Listing....id=2069-2557627Thanks!Again, this lot is smaller than most. This is the closest to a standard single-family lot, but still only 90'x39'.With a 5' building line on each side, you'd only have 29' of width to build on. Don't count on room for a garage on that lot. I don't know much about townhomes, but that might be the only thing you could fit on these lots. Link to comment Share on other sites More sharing options...
Houston1stWordOnTheMoon Posted October 19, 2006 Share Posted October 19, 2006 The trend for inner loop building on small lots is to build up not out. Townhomes could work. You would be amazed at how much house a developer can put on a small lot Link to comment Share on other sites More sharing options...
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