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Found a very tempting house in 76112, Woodhaven Country Club, of course is a lot of house for the money, but at the cost of desirable location, which I can deal with because I don't have children and if I do, they will go to pvt school anyways.
Area surrounding neighborhood is high crime and about the worst ranked schools imaginable.
Above all, my concern is being able to resell the home later without losing money. I don't care about making money, just don't wanna lose. Life happens, and if I need to sell I want to be able to do so within a reasonable time frame (<3 months) and w/o a loss.
I just don't know how to approach making an offer, or if I should just walk away from it. Any guidance would be helpful.
There's a reason you can get more for your money in sketchier areas. The best guidance would be from a local Real Estate Agent. I don't know the area, though I googled it, and I'm not sure I've ever seen a golf course as brown as that one.
Does the "Country Club" provide any security, like gated entry, that might make it more attractive than the surrounding area?
Think about how the neighborhood will affect you.
There's a reason you can get more for your money in sketchier areas. The best guidance would be from a local Real Estate Agent. I don't know the area, though I googled it, and I'm not sure I've ever seen a golf course as brown as that one.
Does the "Country Club" provide any security, like gated entry, that might make it more attractive than the surrounding area?
Think about how the neighborhood will affect you.
The agents are no help. They just tell me what they think I want to hear to get the deal closed as quickly as possible.
For example, they send comps showing market value 10% below asking but still recommend I offer at 98% asking.
The actual neighborhood is nice, just the surrounding apartments. Again, I care only about resale later on.
how many different agents have you asked about this house? unless a large % of the folks who inhabit this neighborhood/club are retirees, school quality is usually a pretty big deal. However, that could also be built into the price - if all the able people in that zip already send their kids to a private school for example.
as to the course being brown, it depends on when the satellite photo was taken. Bermuda grass, which is most common in hot southern locales, goes dormant in the fall/winter.
The agents are no help. They just tell me what they think I want to hear to get the deal closed as quickly as possible.
Quote:
Originally Posted by BoBromhal
how many different agents have you asked about this house?
I'm going to ask BoBromhal's question too, but from a very different perspective.
You don't need the opinion of a lot of 'agents off the street', or any of us. We don't know the neighborhood, or what you think is 'bad' about it. You need a good relationship with ONE, who will spend time to figure out what is important to you.
as to the course being brown, it depends on when the satellite photo was taken. Bermuda grass, which is most common in hot southern locales, goes dormant in the fall/winter.
Aren't golf courses in the south used in winter? They look horrible.
Above all, my concern is being able to resell the home later without losing money. I don't care about making money, just don't wanna lose. Life happens, and if I need to sell I want to be able to do so within a reasonable time frame (<3 months) and w/o a loss.
I checked that zip code. Looks like about a dozen homes for sale around that country club.
The first thing I'd want to know is why so many? Second thing - how long have they been on the market?
Review them all. Then look up sales for the past 12 months and see how they were priced and how long they took to sell.
If those people's homes aren't selling in less then 3 months on the market then yours won't either and you will take a loss if you have to sell it quickly.
Quote:
Originally Posted by ATXIronHorse
I just don't know how to approach making an offer, or if I should just walk away from it.
That's a decision you'll have to make for yourself.
Quote:
Originally Posted by ATXIronHorse
The agents are no help. They just tell me what they think I want to hear to get the deal closed as quickly as possible.
You got that right. They don't make a nickel until they sell something.
Quote:
Originally Posted by ATXIronHorse
For example, they send comps showing market value 10% below asking but still recommend I offer at 98% asking.
Of course they do. It maximizes their commission.
If the comps show market value 10% below asking, I would offer 20% below asking.
There are plenty of houses for you to choose from. You don't have to buy that one.
Aren't golf courses in the south used in winter? They look horrible.
it's what we put up with for the weather that makes it possible to play about 330 days out of the year.
Most golf courses that you see on the PGA Tour that are verdant green before May overseed with rye grass so they're pretty. But it's expensive to do this, so most everyday golf courses don't.
My buddy is a small regional home builder. His favorite line, "you can fix up a house but you can't fix up a neighborhood!"
I really don't love the combo of a bad zip code, bad schools and a golf club. The first 2 you can't fix and the 3rd can bleed you dry with fees!
It all comes down to the old real estate adage . . . the first three rules of real estate are:
1. Location
2. LOCATION
3. LOCATION
If you're #1 concern is resale then you're #1 thought should be "I need to buy in the most sought after location I can afford even though it might mean I have to buy a lesser home."
As others have said, find yourself a good real estate agent to consult with. There are bad ones out there, but the good ones don't care about selling you a house now. They want you to be ecstatic with your experience so that you will refer all your friends and relatives to them. Only the dumbest and most desperate real estate agents sacrifice multiple future sales for a single sale now.
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I don't know the area, though I googled it, and I'm not sure I've ever seen a golf course as brown as that one. 
