Home At 2134 MacArthur St.

[mpbro]

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

[VicMan]

This house is zoned to Houston ISD schools:

* Roberts ES

* Pershing MS (With Pin Oak MS as an option)

* Lamar HS

[Willowisp]

"Move-in ready. Great for possible add-on or new home building site."

I guess the realtor wants to cover all the bases. This is a beautiful home. I love the MC Ranch feel and it seems to be very nicely maintained. It's definitely not a new home building site. I wish he'd take that last line off as it's totally unnecessary. People in the market for a lot to build on shouldn't want to pay $600K for it even there, and people who would want the house shouldn't think that it's in bad shape enough to tear down.

Jason

[PapillionWyngs]

"Move-in ready. Great for possible add-on or new home building site."

I guess the realtor wants to cover all the bases. This is a beautiful home. I love the MC Ranch feel and it seems to be very nicely maintained. It's definitely not a new home building site. I wish he'd take that last line off as it's totally unnecessary. People in the market for a lot to build on shouldn't want to pay $600K for it even there, and people who would want the house shouldn't think that it's in bad shape enough to tear down.

Jason

Houses in that area are going for that much? Good Grief!

[GoAtomic]

"Move-in ready. Great for possible add-on or new home building site."

I guess the realtor wants to cover all the bases. This is a beautiful home. I love the MC Ranch feel and it seems to be very nicely maintained. It's definitely not a new home building site. I wish he'd take that last line off as it's totally unnecessary. People in the market for a lot to build on shouldn't want to pay $600K for it even there, and people who would want the house shouldn't think that it's in bad shape enough to tear down.

Jason

You know, I just have to say - as a native Houstonian who saw the aftermath of the 80's real estate bust (after a big building boom, hello?), I think that recent real estate sale prices closer into the city are completely out of whack. I mean, good economy aside, we're NOT in some 'have-to-live-there' place like San Fran or Seattle or NYC ... and IMO the economy outside our little bubble really isn't that good, lots of job and industry losses, etc. Plus, when you add in the property taxes here, the prices look even more ridiculous.

I just think it's emotion buying driving the prices up to artificially high levels. Am I alone in this opinion?

[mpbro]

"Move-in ready. Great for possible add-on or new home building site."

People in the market for a lot to build on shouldn't want to pay $600K for it even there, and people who would want the house shouldn't think that it's in bad shape enough to tear down.

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.

Edited March 22, 2007 by mpbro

[musicman]

Houses in that area are going for that much? Good Grief!

a friend mine got 550k on mclendon last yr or the yr before. its location to the med center and rice makes it primo

... and IMO the economy outside our little bubble really isn't that good, lots of job and industry losses, etc. Plus, when you add in the property taxes here, the prices look even more ridiculous.

I just think it's emotion buying driving the prices up to artificially high levels. Am I alone in this opinion?

yeah i just got off the phone with a friend at anadarko in the woodlands and evidently they laid off 1000 today. he works in IT and they just told him to stay at his desk because they are packing up offices.

i think property taxes do hurt quite a few to are living check to check. an increase in their mortgage as a result just causes more problems.

[MidtownCoog]

They should have seen it coming at Anadarko. They have a debt problem.

They have been shedding and buying major assets for a couple of years now as part of their "portfolio optimization activity".

[flipper]

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.

Lot value in Southgate is NOT $500,000.

I'll admit I'm wrong if you show me some comps, but I think you are off by a couple hundred thousand'ish.

flipper

[mpbro]

Lot value in Southgate is NOT $500,000.

I'll admit I'm wrong if you show me some comps, but I think you are off by a couple hundred thousand'ish.

flipper

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.

Edited March 25, 2007 by mpbro

[The Great Hizzy!]

However, we're all in agreement that $600K is just bonkers.

[Willowisp]

If my wife and I were both doctors or finance types who worked in the medical center, I would think it was a bargain. As a music teacher with a wife who works in the Williams Tower, yeah, that house doesn't come close to being right for me. There are similar houses in Willowbend and Meyerland that would be more right for me. I just hope it isn't a case of a perfectly nice house to be torn down for profit's sake.

Jason

However, we're all in agreement that $600K is just bonkers.

[mpbro]

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.

[SpaceAge]

Before and after photos of 2134 MacArthur:

Go to the following site to see more. Before/After site

http://sepwww.stanford.edu/~morgan/images/...ouse/index.html

The updating of this house removed and covered everything that made this house special. The result is generic and sterile, lacking personality and distinction. Hint: most products from Home Depot, Lowe's, Linens and Things, Ikea, Pottery Barn, Bombay Co., etc. will do the same for any house.

Edited March 29, 2007 by SpaceAge

[mpbro]

The updating of this house removed and covered everything that made this house special. The result is generic and sterile, lacking personality and distinction.

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...

[Willowisp]

I'll have to side with spaceage on this one. I have learned that a cardinal mod rule is to not paint wood paneling, and that's just what they did.

The bedroom #2 light fixture kicks ass and it's no longer there. The new fixtures are pretty boring, but I wouldn't expect flippers to add $750 PH-5s or anything.

As for the wallpaper and that kind of thing, I wouldn't have expected them to keep all that. It can tend to get ugly.

But orange formica, well, you hit a very sore spot with me. I'd give anything to have the original kitchen in my house. It had coral formica. It's been gone 15 years now. Someday I will have to have it rebuilt. Their original kitchen was beautiful as far as I'm concerned, but I am not who they wanted to buy the house.

Other than painting the wood though, I'm sure they did a great job and I hope they get their money out of it. At least they didn't paint the brick inside.

Jason

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...

[jm1fd]

I'll have to side with spaceage on this one. I have learned that a cardinal mod rule is to not paint wood paneling, and that's just what they did.

The bedroom #2 light fixture kicks ass and it's no longer there. The new fixtures are pretty boring, but I wouldn't expect flippers to add $750 PH-5s or anything.

I thought those two items were keepers as well. The paneling didn't look like the standard issue, loud and tacky knotty pine...looked like some sort of expensive-ish hardwood in fact.

[mpbro]

I have learned that a cardinal mod rule is to not paint wood paneling, and that's just what they did.

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.

The bedroom #2 light fixture kicks ass and it's no longer there. The new fixtures are pretty boring, but I wouldn't expect flippers to add $750 PH-5s or anything.

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?

The paneling didn't look like the standard issue, loud and tacky knotty pine...looked like some sort of expensive-ish hardwood in fact.

It has a Mahogany-like ripply glow. Not like the real expensive Mahogany, which is nothing but ripply glow, but pretty nice wood.

[flipper]

I thought those two items were keepers as well. The paneling didn't look like the standard issue, loud and tacky knotty pine...looked like some sort of expensive-ish hardwood in fact.

Am I crazy or is this your house?

flipper

[nativehou]

But orange formica, well, you hit a very sore spot with me. I'd give anything to have the original kitchen in my house. It had coral formica. It's been gone 15 years now. Someday I will have to have it rebuilt. Their original kitchen was beautiful as far as I'm concerned, but I am not who they wanted to buy the house.

My mod house has basically the original kitchen (but newer appliances). I love the fact that the cabinets are from the late 50s and I like my formica countertop -- it fits the house. But some friends and family members, upon seeing it for the first time, will actually say something like "oh, it's too bad your kitchen isn't as nice as the rest of your house."

[dbigtex56]

Their original kitchen was beautiful as far as I'm concerned, but I am not who they wanted to buy the house.

I kept hoping that maybe they'd accidentally switched captions, and the "before" was really the "after".

Is there any way for the new kitchen to not look cluttered? Open shelving can be a dangerous thing.

[mpbro]

Am I crazy or is this your house?

flipper

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!

Edited March 26, 2007 by mpbro

[nativehou]

[*]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.

Argh! I would have loved to have those! As would all of the mod furniture dealers in town. And they would have charged an arm and a leg for them -- I couldn't afford any of their fixtures that I wanted when I was shopping for one. I ended up buying a mod-ish fixture from IKEA

[Willowisp]

As far as my comment on the panelling, I wasn't suggesting that you should strip it or go to any incredible legnths. My panelling had the same problem in that it was partially painted as a bookcase. It was unstrippable and discolored. I thought we were in trouble until the contractor told us we could have the entire wall replaced with almost the exact same walnut for about $250. I don't know if your panelling would be more expensive or not, but my point is that if someone is going for a mod look then keep the panelling one way or another. In the end, our panelling gives the room a certain warmth and I love it.

Your experience certainly exemplifies the problems that modern or even 50s ranch homes come across all the time. If most of the people that looked at the house say they need to make more updates then they didn't understand the beauty of the things you kept period correct. Then the people who want everything to look period correct didn't understand why you got rid of the old light fixtures or painted the panelling. It's a lose lose situation, and I think that's what has happened to the guy down the street from me as well.

Best of luck on your move. My wife would move to California tomorrow if she didn't love me so much!

Jason

[SpaceAge]

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!

Perhaps you should consider contacting an interior designer for a few hours of consultation.

[domus48]

It

[flipper]

I enjoyed that. That being said.... put on your flame resistant suit!

flipper

It

[nativehou]

It

[mpbro]

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.

[Willowisp]

I try to always start with the caveat "in my short experience learning about MCM I have learned"... The MCM purists are a rare breed. You ask for their opinion you're gonna get it. I have learned a lot along the way and made some good friends with MCM purists. Mostly I have learned that if you're going to do it, go all the way with it. Restore not renovate. You didn't do that, but it's still a beautiful house. Not perfect for the MCM purist, of course, but still not bad either, and very livable. Not a teardown...

Even the mcm fans don't usually restore the average ranch though. They make updates that suit them. It gets a lot more difficult and picky with more "pedigreed" houses or custom houses.

Crappy light fixtures, another sore spot for me. All but 3 of mine were gone. We just had to look at them and get as close as we could with new cylinders...

We closed on our house 2 years ago today. Happy housiversary to me!

Jason