mpbro

"Commoditized"? Are you implying that the extraction of oil & gas is a simple endeavor, with no barriers to entry? The opposite is quite true. Ask Hugo Chavez why Venezuela's daily production has fallen by 40% since he purged PDVSA and started nationalizing. Or why Pemex, one of the stodgiest and least technologically advanced of the NOCs, seems powerless to reverse the decline at Cantarell or to undertake a serious new exploration program. If you want to know why HAL moved to Dubai, it is exactly what you would expect in a business which is not commoditized! The NOCs in that neck of the woods are losing production, and it is precisely the kind of technology that HAL supplies that will help stem the decline (if not find new resource).

Thanks for the link and info. Although the city is "authorized to enforce by suit for injunction", you (i.e., a civic club) have to go to considerable lengths to get the city to act. A lawyer will almost always be involved, and in neighborhoods with weak associations (civic clubs versus POAs), the onus falls on a motivated resident to escalate the issue. Here's an excerpt from the latter half of your link: I find that neighborhoods with a lot of attorney residents usually have the most draconian enforcement. When the deed restriction is violated, the situation is normally defused by a threatening letter from a lawyer. I've seen it at least 4 times in my neighborhood in the last 3 years. In none of these cases did the city actually take the violator to court.

I was under the impression that in Houston (Texas?) deed restrictions were not enforceable by the city, per se. Rather, they provide a vehicle by which other property owners can sue (and win) in the case of a violation. A stronger entity, Property Owners' associations, can directly sue violators. Please correct me if I'm wrong.

Hearty congrats on the quick execution and especially the quick sale! That's got to feel good. I think you picked a great color for the painted brick fireplace. Really salvaged the fireplace after the original owners defiled it with white paint!

Yes, it's exactly that funny little lot (the house on the big corner lot is actually very cool). As for the $100 structure value, that strongly implies a structure with major problems, like foundation beyond repair or with catastrophic termite damage. House looks a little lopsided from the street, now that I think about it.

It's interesting that 2035 Macarthur doesn't move, and I think reflects a big demographic change. Assuming no major problems with the house, they'd have had a starter home buyer 3 years ago at $250K. You don't see these buyers in this area anymore, unless you count "starter house buyers" as two surgeons just out of residency (like my new next door neighbors)! I don't know where these buyers are going these days. So although there are lots of people who could comfortably live in that house, the only fate for that place in that neighborhood is teardown. If you say lot value is $350K and value the house at -$10K, you have $340K. I think the lot is weirdly shaped, tapering toward the back, which might constrain builders.

Heh-heh, very funny stuff. Like domus, I was also surprised by the conservative reaction to my "interpretation" of the house, even though many of the previous owner's updates were done in the 60's and 70's! The updates are mostly reversible: Don't like the paint on the paneling? Strip it off, you would have had to strip it anyway. Don't like the light fixtures? Install new ones. Retile the kitchen. I like certain aspects of the 50's homes, but not others. I ditched the things that I didn't like or couldn't preserve, and kept the things I liked. My wife and I really enjoy living in the home, which is all that matters. From a market perspective, I can tell you that the original house was a bust. Which explains why we bought it for below an initial lot value offer. So why would it sell any better now if I'd have left it in the same condition? I can only assume that in the pool of prospective buyers, MCM aficianados are vastly outnumbered by the Pottery Barn crowd. That being said, I do appreciate the input I've received here; even the sarcastic remarks are "data points". flipper could certainly give a more educated perspective on the market's perception of homes like this.

Danke. Here's a nearby home which just sold. Would you say something darker than this? Heh-heh, we ripped out a whole bunch of old photinia(?) bushes and started over. I agree some small bushes would be nice. We put some annuals there. There are also some "Dwarf Ruellia" plants that I like. They will pop up a little more and have nice purple flowers. The small tree is actually a mature Japanese Yew tree. I cut down two others, but couldn't bear to cut that one down for some silly reason. Painting the gutters wouldbe easy enough. Should probably replace them!

Currently just primer now. Until I'm sure it will be an improvement over primer, I'm not going to paint! My wife thinks something grey, or grey with a little blue. I'm clueless. Thoughts???

Good choice with the paint. It exemplifies the exterior elements of the home without looking cloying (blue or something). Everything kind of blended together before.

Love your house. Would love to see more pictures.

If you think it's jm1fd's house, you might be crazy. It is actually my house. I thought that was somewhat obvious from the tenor of the original post, but when people seemed not to get it, I edited the original posts to make it seem less like it was my house. The feedback here has been very interesting! I actually have feedback from some clients of agents who have viewed the house. They make me chuckle out loud compared to what you guys have said: "Buyers felt price to be way high for the property.Considering"bathrooms need remodeling,kitchen needs more updating kitchen,add walk in closets" and so" "My client felt she would have to do too many updates. " Now that the cat is out of the bag, I can comment on some issues raised here: This is not a flip! We've lived here for 2.5 years and enjoyed it. We're moving to California. Kitchen cabinets and wall paneling look like a low-end mahogany. Knotty pine in the utility. I tried sanding, and gummed up 2 belts on one cabinet. I tried stripping it, and what a pain in the ass. The grooves between the boards make that hard. For livability, I have zero regrets about painting the paneling! The kitchen was redone in 1979, if the dates on the old appliances were representative. Orange formica has to be from 1979--the formica is on particle board, and the original construction has no particle board. Again, for livability, I have less than zero regrets about nuking the formica. (actually we tiled over it! ) There was a lot value offer for $350K in June, 2004, which the original sellers rejected. I'm 100% confident that a builder would jump at $450K now, and probably into the low $500s. However, as I said, we're priced too high for builders right now. For teardown, it has to be someone who wants a deferred option on the lot, with a livable house for the near future. As for the "Pottery Barn" comment...thanks! As I have no actual taste myself, we aimed for the lowest common denominator with paint colors, etc. It looks as if we've succeeded! It actually pained me to trash(!) the light fixtures. I told my wife that we could sell the cooler ones on E-Bay, and she didn't believe me. She took 'em to the dump before I could do anything about it. If you're going to make a house "mod", I think you have to go all the way. Nobody would touch this house when we bought it! I like to think that we've preserved most of the home's interesting features, but made more appealing/livable to the average buyer (and to ourselves). The open house was (I guess) a success, with something like 20 visitors. Maybe some of you dropped by? Thanks for the comments!

People say that single moms make good tenants. I'd think that a clean house close to good schools would have a great tenant pool. I have limited experience with lots of rental properties or problem tenants. However, I would say this: if your parents are planning on using proceeds from rent to finance another property, interruptions in cash flow are most unwelcome! In my opinion, vacancy is the most important issue. Find a tenant, keep them, and when they leave, have a disciplined strategy for finding a new one. Vacant for 4 months is not an option. You might post this same question to a good Houston real estate forum.

The varnish can get pretty gnarly as it naturally yellows, gets coated with cooking grease, and/or if the previous occupants smoked. The varnish is basically impossible to sand, so you have to strip it chemically. Yuck! What do people usually do if they want to keep their paneling pristine? Wood bleaching might make the look a little more palatable to Pottery Barn tastes, but I guess you can't easily "undo" bleaching. At least paint can be stripped. Heh-heh, but you have to admit that it might look kind of funny in a baby's room! It was a cool fixture, though. What do you think of these old fixtures? It has a Mahogany-like ripply glow. Not like the real expensive Mahogany, which is nothing but ripply glow, but pretty nice wood.

Hmm, didn't think most lovers of "mod" were big fans of orange formica, foil wallpaper, and ratty shag carpet. But YMMV. As for the mod furniture...very cool, but maybe the previous owners took it with them...

Well, skeptics and optimists alike can check out 2134 MacArthur from 2-4 pm this sunday (March 25). A nice day to enjoy the azaleas, even if you think the RE is overpriced.

I guess a lot depends on premium you will pay for larger lot. Or, the premium you will pay for the long-term *option* of building in the one of the only nbhds within walking distance of the TMC. I tend to agree baseline tiny lot value ~ $350K. Not really enough pure lot value sales to know, for sure. Morningside Place has more. You see lots of spec builds there on 6000 sqft lots, but the larger lots in Southgate have to be preferable for custom. Nicer nbhd anyway. 2202 MacArthur (corner, odd shaped 11Ksqft lot across st from 2134) went in 6/06 for $465K to a future custom build buyer; they are renting it out. 2039 McClendon: 1952 ranch style, extremely dated interior, sold quickly for $507K Teardown at 2106 Swift went to contract at $525K. 2102 Southgate (corner) sold 2 years ago for $395K; tore down nice 1940 bungalow to build $1M+ custom New custom builds on corner Southgate & Montclair have no lot sales large odd shaped lot (corner) at 2004 Southgate (ratty location) went to contract at $459K 2220 Watts sold for way over list at $366K 6 months ago. Currently a huge spec(?) house is going up, filling the tiny lot. 2035 MacArthur is a tiny lot with a teardown and has not moved at $385K.

Good points, thanks. I agree that land value is < $600K. A year ago, I'd have said < $400K! But you hear stories of tear-downs and empty lots receiving 10 offers, and have to wonder. An agent who prices conservatively is listing a smaller lot (teardown) in Morningside Place for $460K. So a land value of $500K seems justifiable. As you say, the economics of this place as a lot do not work for spec builders. Maybe for a motivated custom build (look at the action on Southgate Blvd), but best market is prob private citizens (i.e. doctor) who want a long-term option to build on a good lot, but live comfortably in the meantime. Question is, what are they willing to pay for that option. These doctors look at the location (walk to TMC) and see the number of new hospitals going up...put 2 and 2 together and the good build sites will not be around for long! That's my story and I'm stickin to it.

2134 Macarthur in Southgate is on the market. Not as "mod" as most of the homes in this forum, but it is for sale, and it's got some cool features (stacked brick fireplace, big glass pocket door, etc.). An open house will happen this Sunday (March 25) 2-4pm. http://harpictures.marketlinx.com/MediaDisplay/61/hr1878761-1.jpg http://harpictures.marketlinx.com/MediaDisplay/61/hr1878761-2.jpg http://harpictures.marketlinx.com/MediaDisplay/61/hr1878761-3.jpg

Also, if you are back in Southgate again, check out some of the custom newbuilds on Southgate Blvd. If I get motivated, I'll post some photos. 2203 Southgate is about 5 houses west of 2145 -- ultra-modern custom with some interesting angles. Right across the street (21-something) is a massive brick box about 3/4 of the way done. There's a fantastic Tudor-style house about 5 doors east of 2145 -- not "mod" by any stretch, but the attention to detail on the brickwork makes me very happy. Not cheap! The biggest "mod" is a custom house at 2102 Southgate. It is almost 5400 sqft, and is fairly interesting, if a little box-like. Though I'm not a big fan of the stucco...yucko!

I think the lady who submitted the photo to voxproperty (the owner) airbrushed the house next door. ;-) It is to my knowledge the only really obvious MCM home in the nbhd. There are quite a few 70's and 80's homes. A fairly interesting pair of homes was built in 1984, probably the last time that a single lot (11000 sqft) was subdivided in Southgate. One of those homes, 2019 McClendon, is currently listed at $719K. What the neighborhood lacks is some real nice examples of ranch styles on sprawling lots. Prevailing lot size is below 10000 sqft. I like the ranches in Old Braeswood (west of Morningside) better. The prices really have increased over the past 3-4 years. I'm kind of sick of being in such an urban environment (suburbs??? ), though it was great when my wife was doing her MBA at Rice. The southern third of the nbhd has no sidewalks, and increased traffic with the Kirby crap going on. Kind of sucks when you want to take the stroller out...

Have used Debowski in the past for home AC repairs, and they are reasonably priced and pragmatic, but cannot make recs for a HVAC project, sorry...

Heh-heh, nope, it was an estate sale, and the vultures...err, I mean heirs, quickly snapped up some of that fantastic mod furniture. :-( They left us with all sorts of other crap, though. I'm sad to say we used a lot of that crap!

There's a cool MCM home just around the corner from me, at 2145 Southgate (photo included). The owner notes: Restored 1965 mid-century Modern house (architect Charles Thompsen). Quiet and private, this small house feels spacious with all rooms looking onto (with floor to ceiling glass) landscaped courtyards. Has great trees front and back. My home, at 2134 MacArthur, will go on the market in 2 weeks. It's not "MCM" per se, but an interesting 1952 ranch style on about a 135-degree angle on a wedge-shaped corner lot.

I'm noticing continued very strong demand in the high-end (> $700K) market, at least inside the loop. Million dollar houses are moving fairly fast, i.e., in a month or two. I live in a modest house on a prominent corner lot, and I've had a lot of unsolicited interest, which I've never gotten in the last few years. For those of you interested in (sort of) mod houses, we are putting it on the market in a few weeks (2134 Macarthur). I'd be somewhat surpised to see a subprime squeeze in Houston, given the anomalously strong employment market here, unless there are exotic ARM conversions or something. The "fat cats" don't seem to be getting squeezed!