OkieEric Posted March 10, 2008 Share Posted March 10, 2008 This is a little off topic but why is there no data for 77098?Saw that as well - the bubble map from the other day showed 9 foreclosed homes for 77098, but provided no further details. Link to comment Share on other sites More sharing options...
dbigtex56 Posted March 12, 2008 Share Posted March 12, 2008 Wow - 74/76. And what's up with Memorial Cove Condos? (20/20)For that matter, Hyde Park Crescent has a grim 8/44 (18.18%) - and wasn't that an enclave of mostly Tremont-built homes? Link to comment Share on other sites More sharing options...
bpe3 Posted March 14, 2008 Share Posted March 14, 2008 Yes. Tremont built Hyde Park Crecent. And yes, Hyde Park Crecent was also plagued with complaints about shoddy construction, particularly with regard to water leaks. Come on Tremont. How hard is to build a building that doesn't leak like a sieve months after completion?The Lemon Lady who protested daily in front of Tremont Tower was a Hyde Park Crecent homeowner.bpe3 Link to comment Share on other sites More sharing options...
dalparadise Posted March 14, 2008 Share Posted March 14, 2008 Wow. Just wow. The Chronicle is reporting that there were 74 foreclosures out of 76 units were foreclosed in 2007 alone. Perhaps HCAD hasn't kept up with all the ownership changes. That's a mind blowing figure. People really are voting with their feet.Chronicle forclosure data: http://www.chron.com/business/2007_foreclosures.htmlbpe3It's still shocking, but there is a disclaimer on the foreclosure map that states those are foreclosures on mortgages, not units. Some, if not all of the units were, no doubt, financed with two mortgages, which would register two foreclosures on a single unit.Still pretty dismal, though. Link to comment Share on other sites More sharing options...
bpe3 Posted March 18, 2008 Share Posted March 18, 2008 I don't think the existence of a 2nd lien would cause a single foreclosure event to count twice. If a first lien is foreclosed, the second lien is wiped out. Two lenders can't foreclose at the same time. Only the senior lender can foreclose. I think the disclaimer actually means that same unit could have been foreclosed multiple times over the course of a year. As in: Bought by Buyer A and financed by lender A in 2005, foreclosed by lender A in early 2007. Sold in mid 2007 to Buyer B with a loan from Lender B. Foreclosed by Lender B in late 2007. What the Chronicle did was go through the foreclosure files and count up the totals. They were too lazy to go back and compare all the address to check for duplicates.bpe3 Link to comment Share on other sites More sharing options...
jfre81 Posted April 7, 2008 Share Posted April 7, 2008 I walk in front of this thing on Westheimer all the time. With the exception of a couple units it looks as empty as the old Holiday Inn downtown.If I had my druthers and I didn't have to deal with any consequences from it I'd say push the plunger, clean up the whole site and start over. That building is ugly to me anyway. It detracts from my view of the utility poles and billboards. Link to comment Share on other sites More sharing options...
VicMan Posted April 7, 2008 Share Posted April 7, 2008 Houston Press article:http://www.houstonpress.com/2005-10-06/new...nership-wrongs/Rip Off Report:http://www.ripoffreport.com/reports/0/140/ripoff0140110.htmWhat happened to the scenario since then? Did the lady get access to her apartment? Link to comment Share on other sites More sharing options...
diggity Posted April 7, 2008 Share Posted April 7, 2008 What happened to the scenario since then? Did the lady get access to her apartment?judging from the rate of foreclosures, i would lay my money on no Link to comment Share on other sites More sharing options...
sidegate Posted April 30, 2008 Share Posted April 30, 2008 There's a sign in the vacant area in front of the Tremont Tower indicating land for sale. Unfortunately, judging from the size of the lot indicated on the sign, it does not include Castle Greyskull itself. Sigh. Link to comment Share on other sites More sharing options...
BryanS Posted April 30, 2008 Share Posted April 30, 2008 Pricing is getting more realistic... some may even say ridiculously low...http://search.har.com/engine/dispSearch.cf...mp;backButton=YSixth floor! 99K! maint fee needs to be lower... Other units for sale in the upper 80K range... Link to comment Share on other sites More sharing options...
VicMan Posted April 30, 2008 Share Posted April 30, 2008 Pricing is getting more realistic... some may even say ridiculously low...http://search.har.com/engine/dispSearch.cf...mp;backButton=YSixth floor! 99K! maint fee needs to be lower... Other units for sale in the upper 80K range...This is in Houston ISD - The zoned schools are Wilson ES, Lanier MS, and Lamar HS.With that said, what will happen to the Tremont now? Will it change ownership? Will it get a more competent and less heavy-handed leadership? Link to comment Share on other sites More sharing options...
mtbrothe Posted May 1, 2008 Share Posted May 1, 2008 We looked seriously at buying in there. The main reason we decided not to is because if you buy a foreclosure the sale price is not considered when protesting the appraisal value. It would have made for an enormous tax bill. They are so high because of the out-of-state buyers who paid a TON of money for certain units because they were unaware that the prices were rediculous for Houston (this is all according to the guy who showed us around and is on the Board there). There is damage to some common areas as well. Be aware that the tactics of the realtors respresenting the foreclosures is shady at best. We were told several times that we needed to raise our bid because others out bid us. When we removed our bid from the running, the realtor suddenly called and asked if our original bid was still good! This happened twice on two different properties with two different realtors... Link to comment Share on other sites More sharing options...
HtownWxBoy Posted May 2, 2008 Share Posted May 2, 2008 We looked seriously at buying in there. The main reason we decided not to is because if you buy a foreclosure the sale price is not considered when protesting the appraisal value. It would have made for an enormous tax bill. They are so high because of the out-of-state buyers who paid a TON of money for certain units because they were unaware that the prices were rediculous for Houston (this is all according to the guy who showed us around and is on the Board there).There is damage to some common areas as well. Be aware that the tactics of the realtors respresenting the foreclosures is shady at best. We were told several times that we needed to raise our bid because others out bid us. When we removed our bid from the running, the realtor suddenly called and asked if our original bid was still good! This happened twice on two different properties with two different realtors... Yea that happens a lot. Link to comment Share on other sites More sharing options...
sifuwong Posted June 6, 2008 Share Posted June 6, 2008 $378 monthly maintenance fee!!! Yikes!!! Link to comment Share on other sites More sharing options...
BryanS Posted June 6, 2008 Share Posted June 6, 2008 $378 monthly maintenance fee!!! Yikes!!!The throw-away debt load (taxes and maint fees) on these units is outrageous. If the maint fees were reasonable and the tax value was actually adjusted to the selling price of these units (130 to 250K)... the place would be full. Link to comment Share on other sites More sharing options...
dbigtex56 Posted June 7, 2008 Share Posted June 7, 2008 Consult your congressman; when we pass a bill to subsidize cobwebs, the place will be a goldmine. It looms over lower Westheimer like the House of Usher. If there's ever a Weird and Creepy award for architecture, we have a wnner. Link to comment Share on other sites More sharing options...
texreguy Posted June 18, 2008 Share Posted June 18, 2008 32 of the units have been sold in the past 6 months to owner-occupants. I am purchasing one as well. I received my mold report yesterday, and the unit's spore count was 60 per square meter. Outside the unit, in Houston's fresh air, the count was 2280 spores per square meter. The average moisture in the unit was less than 8%; it is highly improbable that significant amounts of mold could grow there under these conditions.I have also had the building's structural integrity tested (at great expense I might add), and inspection of the electrical system, plumbing and other unit systems. The inspections came back with only minor suggestions for repair, totalling less than $100.I really owe a debt of gratitute to Hyde Park. Because of her tireless efforts to disparage this building, I am able to buy a beautiful condo that I could otherwise not afford at less than $100 per square foot. If I had the money, I'd buy another unit for investment.Others have now realized that many of their fears about the building were not justified by the facts. On my unit alone, there were 11 submitted contracts. I was fortunate to offer the highest amount. Units are now selling within days of listing.If there were problems with this building in the past, some entity has repaired them. Link to comment Share on other sites More sharing options...
lovett19 Posted June 18, 2008 Share Posted June 18, 2008 32 of the units have been sold in the past 6 months to owner-occupants. I am purchasing one as well. I received my mold report yesterday, and the unit's spore count was 60 per square meter. Outside the unit, in Houston's fresh air, the count was 2280 spores per square meter. The average moisture in the unit was less than 8%; it is highly improbable that significant amounts of mold could grow there under these conditions.I have also had the building's structural integrity tested (at great expense I might add), and inspection of the electrical system, plumbing and other unit systems. The inspections came back with only minor suggestions for repair, totalling less than $100.I really owe a debt of gratitute to Hyde Park. Because of her tireless efforts to disparage this building, I am able to buy a beautiful condo that I could otherwise not afford at less than $100 per square foot. If I had the money, I'd buy another unit for investment.Others have now realized that many of their fears about the building were not justified by the facts. On my unit alone, there were 11 submitted contracts. I was fortunate to offer the highest amount. Units are now selling within days of listing.If there were problems with this building in the past, some entity has repaired them.It's good to hear that Tremont is slowly but surely becoming occupied. For the past few years, it sat like a vacant building with no lights on or anything to indicate that people lived there. I'm looking forward to seeing signs of life there, as the building stands out so prominently in the neighborhood. I hope that the problems that plagued Tremont are a thing of the past, and that the "entity" did the repairs right. Lovett19 Link to comment Share on other sites More sharing options...
musicman Posted June 18, 2008 Share Posted June 18, 2008 If there were problems with this building in the past, some entity has repaired them.i gotta bridge for sale. Link to comment Share on other sites More sharing options...
west20th Posted June 18, 2008 Share Posted June 18, 2008 i gotta bridge for sale.Yes. Still risky to buy there. However, those 90-100K forclosure deals are pretty tempting. Link to comment Share on other sites More sharing options...
HoustonMidtown Posted June 18, 2008 Share Posted June 18, 2008 i gotta bridge for sale.I would buy your bridge before I went anywhere near that place... Link to comment Share on other sites More sharing options...
houston-development Posted June 18, 2008 Share Posted June 18, 2008 I would buy your bridge before I went anywhere near that place... oh snap. and i concur. its great that "texreguy" is happy with his purchase and made his first and only post about it here.. anyway, welcome to the forum. but i digest. having said that, i wouldn't buy a unit there and all expenses paid by a complete stranger's money. Link to comment Share on other sites More sharing options...
BryanS Posted June 18, 2008 Share Posted June 18, 2008 Yes. Still risky to buy there. However, those 90-100K forclosure deals are pretty tempting.They are. And when the HCAD actually values the units at 90-100K (vs. 300's+)... that building will fill up pretty fast - no matter how ugly it is, how many real/perceived problems there are with the building, etc... Anything priced right will sell. Link to comment Share on other sites More sharing options...
jfre81 Posted June 18, 2008 Share Posted June 18, 2008 http://www.khou.com/news/local/stories/kho...593ade.html?npcFWIW, this building has had quite a colorful history in its short time... Link to comment Share on other sites More sharing options...
TheNiche Posted June 18, 2008 Share Posted June 18, 2008 They are. And when the HCAD actually values the units at 90-100K (vs. 300's+)... that building will fill up pretty fast - no matter how ugly it is, how many real/perceived problems there are with the building, etc... Anything priced right will sell.Not to any well-informed consumers, it won't. I pity the rest. Link to comment Share on other sites More sharing options...
BryanS Posted June 19, 2008 Share Posted June 19, 2008 Not to any well-informed consumers, it won't. I pity the rest.For the right price, anything will sell, in any condition. Link to comment Share on other sites More sharing options...
RedScare Posted June 19, 2008 Share Posted June 19, 2008 For the right price, anything will sell, in any condition.Yeah, seems like simple economics to me. Link to comment Share on other sites More sharing options...
TheNiche Posted June 19, 2008 Share Posted June 19, 2008 For the right price, anything will sell, in any condition.I didn't dispute your statement; I merely added qualification to it. Link to comment Share on other sites More sharing options...
diggity Posted June 19, 2008 Share Posted June 19, 2008 Out of the 27 units that have sold on the MLS this year...1/3 have been purchased through the same agent (and nearly 60% have been purchased through a total of 4 agents). What does that mean? Just more investors trying to make a quick buck. So I wouldn't get too excited about having a lot of permanent neighbors anytime soon. Link to comment Share on other sites More sharing options...
sevfiv Posted April 14, 2009 Share Posted April 14, 2009 That lot right out front is still for sale, too ($500,000).http://search.har.com/engine/dispSearch.cf...mp;backButton=Y Link to comment Share on other sites More sharing options...
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