Home At 2134 MacArthur St.

[nativehou]

I can only assume that in the pool of prospective buyers, MCM aficianados are vastly outnumbered by the Pottery Barn crowd.

This is so true, but hopefully it will change a little thanks to the good folks on this forum and at Houston Mod.

[sevfiv]

2035 MacArthur is a tiny lot with a teardown and has not moved at $385K.

ugh! not marketed as a teardown, but still...

http://search.har.com/engine/dispSearch.cfm?mlnum=3590219

[musicman]

ugh! not marketed as a teardown, but still...

at 1272 sq ft and 389k, they wouldn't have too many takers on a 2 bed/1bath, except those with the bucks to tear down and start over because of the location

[sevfiv]

at 1272 sq ft and 389k, they wouldn't have too many takers on a 2 bed/1bath, except those with the bucks to tear down and start over because of the location

yep - too bad (the listing gives it a little hope - not the usual lot value talk)

oh well...imo, used to be a neat neighborhood

Edited March 29, 2007 by sevfiv

[musicman]

yep - too bad (the listing gives it a little hope - not the usual lot value talk)

oh well...imo, used to be a neat neighborhood

the listing says updated kitchen. in what year? 1970?

[mpbro]

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.

[sevfiv]

yeah - an odd shape - should be the one on the right near where macarthur and sheridan meet (next to the diamond shaped lot?)

and as for HCAD, bleh:

2006 Value

Market: Land 216,183 -- Improvement 100 -- Total 216,283

Appraised: - -- - -- Total 216,283

Edited March 29, 2007 by sevfiv

[mpbro]

and as for HCAD, bleh:

2006 Value

Market: Land 216,183 -- Improvement 100 -- Total 216,283

Appraised: - -- - -- Total 216,283

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.

[GoAtomic]

As for the $100 structure value, that strongly implies a structure with major problems, like foundation beyond repair or with catastrophic termite damage.

I thought that the first time I saw an HCAD value of $100, but learned differently when I started protesting my taxes. That value is simply a placeholder on the Improvement numbers due to the way Harris County assesses land value first, Improvement second.

If the land is worth, say $300K (teardown value), but the Tax value is capped (can go up no more than 10% a year for a Homestead) at say $250K, they apply the capped value to the Land first, then to the Improvement if any is left over. But even if there is no leftover for the Improvement they can't zero out that number, so they call it an even $100.

It's really confusing, I know. But in a nutshell, if you see a $100 Improvement value, you know you're in a neighborhood with rapidly increasing Land values. Which in Houston, generally means a Teardown neighborhood. Blecch.

Edited March 30, 2007 by GoAtomic

[musicman]

I thought that the first time I saw an HCAD value of $100, but learned differently when I started protesting my taxes. That value is simply a placeholder on the Improvement numbers due to the way Harris County assesses land value first, Improvement second.

a friend who is on the board itself said that protesting the land value is more difficult thanprotesting the structure value. so the following yr the structure value will be less so that when you go protest, it will be harder because you can't argue easily that your lot is less than your surrounding neighbors. the only thing you can argue is house value. since you're house value is only 100 (in this case) arguing that it is valued too high is not really worth your time.

[sevfiv]

okay, not to stray too far off here, but is this where someone can have an "economic misimprovement?" is that a desirable status if you're one of the last originals in a neighborhood that's almost all flipped to the other side?

[dbigtex56]

A need for an interior designer? Believe me, as an interior designer I can assure you one could easily secure professional services of such and still wind up with the results that some here feel are less than exemplary.

*******

Perhaps mpbro should have solicited the forums “expert” advise on all architecturally trivial and meaningless features of their house...

As an interior designer, I'm surprised that you would refer to any features of a house as "architecturally trivial and meaningless".

Seems to me that good design regards all elements as significant and meaningful.

As to your other remarks: if you don't want people to comment on your singing, you don't sign up for American Idol.

[domus48]

As an interior designer, I'm surprised that you would refer to any features of a house as "architecturally trivial and meaningless".

Seems to me that good design regards all elements as significant and meaningful.

As to your other remarks: if you don't want people to comment on your singing, you don't sign up for American Idol.

I was merely making a point as there are often posts here that defy definition. I won

[mpbro]

Well, we close on May 31 for $515K. Quite a bit lower than the original ask of $599K, but this was not unexpected. Still a very good PSF number ($244) for this neighborhood, though. And a nice premium over lot value, which I estimate at $450-475K.

The buyers apparently plan to gut the kitchen and bathrooms, and possibly add a bathroom+bedroom.

Edited May 27, 2007 by mpbro

[flipper]

Well, we close on May 31 for $515K. Quite a bit lower than the original ask of $599K, but this was not unexpected. Still a very good PSF number ($244) for this neighborhood, though. And a nice premium over lot value, which I estimate at $450-475K.

The buyers apparently plan to gut the kitchen and bathrooms, and possibly add a bathroom+bedroom.

Hey Congrats! That's awesome.

We'll just have to agree to disagree on southgate lot value though

Enjoy your winnings! Where to next?

flipper

[mpbro]

Hey Congrats! That's awesome.

Danke.

We'll just have to agree to disagree on southgate lot value though

Heh-heh, I guess so... ;-)

And unfortunately, we never got down to the price point where the builders started sniffing around. This was a lowball from some motivated buyers, and we had to converge. So I certainly can't say that you're wrong and I'm right!

Enjoy your winnings! Where to next?

We're off to Mountain View, CA (Bay Area). In a week, we'll be stuffed into a 1100 sqft duplex. I'm really not in a huge rush to take a plunge into that market. Surprisingly, that part of the Bay Area is still quite strong. Silicon Valley is hot for the first time in years. The rent-to-mortgage ratio is way out of whack (1:2), so I think that rents are probably going to come up considerably, rather than house prices falling. Makes me think of buying a duplex myself.