U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Texas > Houston
 [Register]
Please register to participate in our discussions with 1.5 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Jump to a detailed profile or search
site with Google Custom Search

Search Forums  (Advanced)
Business Search - 14 Million verified businesses
Search for:  near: 
Reply Start New Thread
 
Old 03-02-2008, 04:41 PM
 
17 posts, read 40,972 times
Reputation: 23

Advertisements

I have to know why this house is so cheap.

3703 Rolling Springs Ln, Katy, TX 77449-8159 - Bridgewater Village Katy

EasilyAmused - I expect an answer, I like your honesty.
Reply With Quote Quick reply to this message

 
Old 03-02-2008, 04:54 PM
Status: "aaaand I'm gone again :)" (set 28 days ago)
 
Location: San Antonio-Westover Hills
6,868 posts, read 12,968,539 times
Reputation: 4953
I am not EA, but my opinion is because the neighborhoods of Bridgewater are a dump, full of foreclosures and low-income housing.

You get a lot of that in 77449. I'd stick with 77084 (with some exceptions), 77094, 77493, 77494, and 77450, if you're looking in the Katy area.
Reply With Quote Quick reply to this message
 
Old 03-02-2008, 05:03 PM
Status: "The blue mat is obsessed with me. Whyyyy??" (set 5 days ago)
 
13,650 posts, read 22,039,090 times
Reputation: 5372
One thing I noticed is that it's a 4 br yet only 1565 sf. That means the rooms are awfully small--especially considering they are all upstairs.
Reply With Quote Quick reply to this message
 
Old 03-02-2008, 05:05 PM
 
Location: Houston (Memorial) and Western NC
8,979 posts, read 15,648,545 times
Reputation: 4120
Hiya,
Well that's the "north side" of the old tracks for one. 2. Like MomtoFebsandabouttoburst said, it's foreclosure city over there. Subprime victims. 3. Morton Ranch HS. 4. If Katy had a bad/dangerous area this would be it.

I like Green Trails in Katy 77094. It's the older section and has more trees, and it being the eastern section which cuts down commute time. Of course my two favorites in Katy are Windsor Park Estates (not lakes) and Kelliwood Lakes.
Reply With Quote Quick reply to this message
 
Old 03-02-2008, 06:07 PM
Status: "aaaand I'm gone again :)" (set 28 days ago)
 
Location: San Antonio-Westover Hills
6,868 posts, read 12,968,539 times
Reputation: 4953
ROTFL I should post a pic. I am seriously about to burst. Can I make it to St. Patrick's Day?!?!?

I love 77094. It's truly a great area.
Reply With Quote Quick reply to this message
 
Old 03-02-2008, 06:32 PM
 
Location: Houston, Tx
788 posts, read 1,751,926 times
Reputation: 595
Smile This home is a short sale

Hello,
The main reason why this home is priced so cheap is because it is a short sale. In other words the home is priced lower than the balance the seller owes on it. The hope is that the bank which has the loan against the house will accept a payoff of the current debt that is less than what is owed.

This home originally cost about $99,000 when the current owner bought it back in 2002. According to the records they still owe 95k on it.

If you offer to buy it for $80,000 and the seller accepts you still need the banks approval to get it sold. The bank may easily reject this deal because the home is being sold at a very low price. The home owner is most likely in foreclosure and the risk is that the bank may decide to reposess the house and sell it them selves.

Trying to buy this house could mean waiting for 3 to 4 months and and then finding out that the bank did not accept the offer.
Reply With Quote Quick reply to this message
 
Old 03-02-2008, 06:33 PM
 
Location: 77059
7,741 posts, read 18,444,088 times
Reputation: 3800
What do they teach you in real estate 101? Well, I don't know but somebody told me it's

LOCATION LOCATION LOCATION !!!

30ish miles outside of downtown would be your #1 answer.

Houses of that size/price scream rentals and trashy clientele, too. There are some on the SE side such as Southway Gardens and Park at Fuqua that are about $100k that look exactly like that one.

But I took a look at that listing and have a question for you to ask Yesman. Is it a coincedence that there are no real pictures of the outside of the house? I'm afraid that all of the brick you see is all you get. I'll bet the other side and the entire backside of the house is cheap wood plank siding. I'll bet you can high-5 your neighbors on both sides, sorta. And I'll bet that realtor knows that if she took detailed pictures of the rest of the house, she'd get less prospective buyers calling her.

When I was in the market, I learned quick to always be wary if there are not pictures of every side of the house in the MLS listings.
Reply With Quote Quick reply to this message
 
Old 03-02-2008, 07:30 PM
 
Location: Buda, Texas
796 posts, read 2,536,072 times
Reputation: 249
The scary ones are the homes with multiple shots of the outside and NONE of the inside...there are reasons for that!
Reply With Quote Quick reply to this message
 
Old 03-02-2008, 07:37 PM
 
Location: Conroe, TX
684 posts, read 1,406,826 times
Reputation: 180
Quote:
Originally Posted by SkyeAnjel View Post
The scary ones are the homes with multiple shots of the outside and NONE of the inside...there are reasons for that!
Boy I'll second that!!
Reply With Quote Quick reply to this message
 
Old 03-02-2008, 07:55 PM
 
4 posts, read 9,856 times
Reputation: 10
Wink Re: Why is this house so cheap?

First, it is in Katy. They can never waste enough of our tax dollars to fix that traffic nightmare. Seems like a lot of the people on here from Katy, are a little elitist. The comment about high fiving your neighbor is absurd. We sold a house in Cy-Fair for well over 200K and the yard space was not that much bigger. This is a great rental property though, and with the current glut of houses on the market, the bank will take less. I just a bought a 2005 foreclosure property for a rental oustside of Austin for 10K below what the bank wanted and we closed on it in less than a month after i made the offer. Even got a Bermuda grass backyard out of it. Remember, this is the internet, do your own research.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Options
X
Data:
Loading data...
Based on 2000-2011 data
Loading data...

123
Hide US histogram

Over $84,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Texas > Houston

All times are GMT -6.

2005-2014, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25 - Top