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flipper

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Posts posted by flipper

    The Rest of the Pictures

    in Houston Construction, Home Repair, and Improvement

    Posted

    I like the outside picture and, from a review of the pictures, I think that the house looks very nice. However, I would never want to have white kitchen cabinets...they are just way too easy to get dirty and too hard to keep clean.

    Good point uncertaintraveler,

    I have white cabinets in my house and it's a chore to clean them. However, it's also nice to know when they are dirty. We're tossing around the idea of doing a darker color in the future.

    Thanks!

    flipper

    looking at the comperables in the area, I fear you have grossly overpriced yourself.

    The highest in the area surrounding you is 190k (but the list is slightly outdated). I think you are about 75k off. But I don't know much about the remodel and resale market. Good luck though. I hope you prove me wrong.

    PS: I love the glass and subway tile.

    Howdy gwilson,

    4402 Hummingbird sold for 248,500 in march.

    4310 Goldfinch sold for 230k in may

    4618 Kingfisher sold for 218k in september

    We shall see!

    flipper

    The Rest of the Pictures

    in Houston Construction, Home Repair, and Improvement

    Posted

    seems a bit high for the area and sq.ft. but I am not a realtor. It would be nice to see the back yard and the master bedroom/bedrooms instead of so many of the kitchen and bath. front elevation, lanscaping, and color scheme are great.

    Thanks for the feedback. I may take your advice on the pictures. The bedrooms aren't much to look at, but you're right, something might be better than nothing.

    You're also right about the price. It's priced 5k higher than the highest recent comp sold for. Gotta keep driving those values up ;)

    thanks again,

    flipper

    Teaser Bathroom Pic from our latest Re-Do

    in Houston Construction, Home Repair, and Improvement

    Posted

    I've superficially redone our house, but largely ignored the bathrooms to date. The cabinets are a big mental impediment for me, but I like your approach of just putting new doors on. If you can divulge the economics of the investment and renovations, I for one would be interested (understand if you cannot).

    It's hard to break out the cost of 1 part of the renovation since we don't pay for it like that. I can tell you that we spent somewhere around 50k on the entire house.

    flipper

    The updated bath looks ok, but my vote would've been to keep the original bathroom tile, but I'm a preservation type, not a flipper. No snide comment intended.

    none taken. I've made it known on the Mod forum that I'd like to find a Mod to redo and keep as much as possible or make it back to how it was. I don't have any sympathy for a bathroom or kitchen with alot of broken tiles or other issues that would prohibit re-using materials though.

    flipper

    Teaser Bathroom Pic from our latest Re-Do

    in Houston Construction, Home Repair, and Improvement

    Posted

    Well, if it looks anything like the Home-Despot-Builder-Grade-Super-Cheapo-Special-Bathroom-Vanity-2000XSI then probably so. If that vanity isn't the Home-Despot-Builder-Grade-Super-Cheapo-Special-Bathroom-Vanity-2000XSI, then somebody did a great job copying it.

    :lol:

    So if I'm understanding, you "do not" like the Home-Despot-Builder-Grade-Super-Cheapo-Special-Bathroom-Vanity-2000XSI.

    I don't even know what that vanity looks like honestly. I've never bought cabinets or vanities from home cheapo. We always build our cabinets from birch plywood with pine moulding and youndale steel hinges. we then paint them with sherwin williams egshel oil based paint.

    Here's a shot of the kitchen cabinets: IMG_2030.jpg

    Houston's housing market/prices

    in Houston Real Estate

    Posted

    Guess it depends on where you are. Things are as normal in Clear Lake. The higher end houses in the normal price subdivisions are sitting there and wilting, as always.

    Can you expound on this a little?

    I've been toying with the idea of doing some high end rehabs in neighborhoods like Oakbrook West.

    flipper

    Houston's housing market/prices

    in Houston Real Estate

    Posted

    I see what you are seeing in Westbury/Idylwood areas also, but with my tainted flipper perception.

    I see the comps going higher and higher, which I want. But I also see the price gap between completely remodeled houses and owner "updated" houses closing.

    Imagine how I feel when I work on a house for 3 months, put fifty thousand dollars into it, sell it at the high end of the comps only to see a homeowner get that same price for their "updated" (new fixtures) house a month later.

    Homeowners "hear" what the house down the street sold (or is listed) for and they feel theirs is worth the same or darn near close to it because it is just as nice! And if someone will buy it for that price, who can blame them.

    This really is only an "inside the loop"ish phenomenon as I see it. (Yes I know westbury is not inside the loop)

    I'm rambling, but my point is that I'm noticing the same thing you are. Would you believe I paid 78,000 for a house in HCC a few years ago?

    flipper

    I Need A Builder/Architect For A New Contemporary Style Home

    in Houston Real Estate

    Posted

    Hi there -

    I bought a property in West U, corner lot, 90 x 80, and am looking to find a builder architect. I was hoping to get help in finding a builder/architect who would build a contemporary style home about 3000 sq feet, new york loft style, open areas, large windows, beautiful finishes, and roof-top terrace.

    I would appreciate any and all of your help! I looked through the GHBA website and others. It has been difficult to find builders who build contemporary homes and are reasonably priced.

    Thanks!

    New York loft style, beautiful finishes, and a roof top terrace in West U "reasonaby priced"?

    :huh:

    What do you consider reasonably priced?

    flipper

    Live Oak Lofts Feedback Wanted

    in EaDo, the East End, and East Houston

    Posted

    I asked the listing agent what was going on with this property. The remaining units were recently sold to an investment group who is in turn marketing them to out of state investors on the east and west coast. They say that they are selling well to those investors and at the current selling rate they should be sold out by the end of the summer.

    It worries me when I hear about left and right coast spec investors "investing" in the Houston market.

    flipper

    This is one of those times where I wish I had 55k laying around

    in Houston Real Estate

    Posted

    My realtor let me know about a property for sale priced 55k UNDER hcad appraised value. The house obviously needs some work, but possibly no more than 20k of work(if your an investor you probably have contacts with contractors.) This is in a neighborhood where homes sell for 5-10k above appraised value. And this home is appraised at 108k and has been foreclosed on. Its for sale in the high 50s. I could make a killer profit on it. But I have already committed my money towards another home. :(

    <_< Any novice investors been in this situation before? Where you KNOW you could make a killer profit. I could purchase it, invest 20k in it, 5k for interest and taxes, for a total investment of 75k-80k, and sale it for 100k-110k.. UGH!!!!!!!!!!!!!!!!! All before years end.

    110k - 4% for the realtors = 103,400

    103,400 - 20k fix up (can you really only spend 20k?) = 83,400

    83,400 - 4,000 (loan interest and points) = 79,400

    79,400 - 3,000 (closing costs buying and selling) = 76,400

    76,400 - 1,000 (property taxes) = 75,400

    75,400 - 1500 (builders risk insurance and utilities) = 73,900

    73,900 - 58,000 (price of house?) = 15,900 Profit

    What if it cost 5,000 more to fix up the house than you thought?

    What if you have to come off the list price 5,000 to get a quick sale?

    $5,900 Profit

    I'm not trying to be a buzzkill but this is what I do for a living, and as anyone who has flipped houses can tell you, this is reality.

    You also should know that HCAD value has nothing to do with the Market Value.

    All the best,

    flipper

    home inspectors

    in Houston Real Estate

    Posted · Edited by flipper

    Sorry... I always forget to check this forum.

    My apologies, I was in fact thinking of a different test. I was probably so enranged with bitterness that I wasn't thinking clearly >:)

    jm1fd, We've actually never had a buyer do a hydrostatic test on a house we've done. We do run cameras on all of the drain lines in the houses we do and fix problems that we see though.

    All the best,

    flipper

    home inspectors

    in Houston Real Estate

    Posted

    A test that most people do not think of is a hydrostatic test. This will test for water leaks under your house. If you have a leak it can be tens of thousands to fix. One house we looked at was in great shape, but I decided to splurge on the hydro test. It was $150 I believe. They found a water leak and it was going to cost the seller $13k to fix. He brought in his own guy would was willing to do it for $8k. The seller wanted to split it with us and we backed off. He ended up doing the work before he could sell the house. He was forced to disclose it to other buyers.

    Did the inspector inform you that 50 year old drain system is not designed to withstand the pressure of a hydrostatic test?

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