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Some more new homes in old neighborhoods


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#201 pallen

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Posted 04 August 2008 - 03:57 PM

QUOTE (Bradleto @ Jul 18 2008, 10:42 AM) <{POST_SNAPBACK}>
I started this string of posts here two years. Just to clarify a bit, it had nothing to do with "what we can do about this," that is, the razing of old structures and new homes going up in old neighborhoods. It was really more observational in nature and I was just passing along some of what I was/am seeing...

Good point - I didnt mean to put the whole how-do-we-stop-this on you. Your post was observational, but the thread quickly took that turn.

I agree, its not all roses in Fairmount. Sometimes the regulations restrict improvements in a negative way - some properties deteriorate when it becomes financially unfeasable (if that's a word) to fix them up. Some houses, even if they were perfectly restored, arent really much to look at anyway - not everything old is valuable, lol. But, overall, we decided that what they have going in Fairmount was much better than the alternatives for our own tastes.

Interesting about the house on Westcliff Rd - may they got into it and found runaway termites or something and had to bail out of the project.

#202 mmiller2002

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Posted 12 August 2008 - 12:08 PM

QUOTE (76107 @ Mar 21 2007, 09:29 AM) <{POST_SNAPBACK}>
What's really interesting about the house on Bunting and Virginia is that it isn't a duplex, but rather a spec house for which its builder hopes to reap north of a million bucks. Which is kind of going to be a canary in the mine that is the west side. Admittedly, he's got several other handsomely priced properties on the market, but a million three to live on the corner of Virginia and Bunting? I think that a lot of this redevelopment, insofar as River Crest/Hi Mount is concerned, has hit its logical ceiling. I don't see how someone could pay a million three to live on the corner of Virginia and Bunting and hope to recoup their investment when it came time to sell.


This one's still for sale. Seems like its open every other Sunday.


BTW, have you seen the little one that someone has fixed-up and built a 2-story garage across Virginia from the mcmansion? I was really liking it until they put that hideous wall right in front of the front porch!

#203 hannerhan

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Posted 13 August 2008 - 06:42 AM

Yeah I have no idea what they are thinking with that wall. It's mind boggling. They did such a good job making the garage match the house too. What a shame.

#204 Urbndwlr

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Posted 08 October 2008 - 10:01 AM

QUOTE (hannerhan @ Aug 13 2008, 07:42 AM) <{POST_SNAPBACK}>
Yeah I have no idea what they are thinking with that wall. It's mind boggling. They did such a good job making the garage match the house too. What a shame.


Agreed. garage apartment looked great, then installed a very anti-social 6 ft wall around and right in front of the nice little front porch.

The house at the northeast corner of Virginia and Bunting should be torn down. The builder should really be ashamed of himself to construct a house that is so amazingly insensitive to its surroundings. I don't know if he just doesn't get it or just doesn't care about anyone or anything around him. The same guy is responsible for the three pairs of brown brick duplexes on Modlin just west of Haskell.


#205 mmiller2002

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Posted 08 October 2008 - 11:21 AM

QUOTE (Urbndwlr @ Oct 8 2008, 11:01 AM) <{POST_SNAPBACK}>
The house at the northeast corner of Virginia and Bunting should be torn down. The builder should really be ashamed of himself to construct a house that is so amazingly insensitive to its surroundings. I don't know if he just doesn't get it or just doesn't care about anyone or anything around him. The same guy is responsible for the three pairs of brown brick duplexes on Modlin just west of Haskell.


Well, the builder is getting to enjoy his mansion for quite a while while it sits empty. Open houses all the time!

#206 Fort Worthology

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Posted 08 October 2008 - 11:31 AM

There are some *hideous* townhomes near Village Homes' new Hilltop development (which I think is quite nice). The contrast really shows between VH, who knows what they're doing, and some random opportunist with a suburban design mindset.

I think I even saw those terrible townhomes in a city presentation as an example of bad design & planning.

#207 hannerhan

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Posted 08 October 2008 - 12:28 PM

QUOTE (Urbndwlr @ Oct 8 2008, 11:01 AM) <{POST_SNAPBACK}>
QUOTE (hannerhan @ Aug 13 2008, 07:42 AM) <{POST_SNAPBACK}>
Yeah I have no idea what they are thinking with that wall. It's mind boggling. They did such a good job making the garage match the house too. What a shame.


Agreed. garage apartment looked great, then installed a very anti-social 6 ft wall around and right in front of the nice little front porch.

The house at the northeast corner of Virginia and Bunting should be torn down. The builder should really be ashamed of himself to construct a house that is so amazingly insensitive to its surroundings. I don't know if he just doesn't get it or just doesn't care about anyone or anything around him. The same guy is responsible for the three pairs of brown brick duplexes on Modlin just west of Haskell.


Yep. These spec homes that aren't selling must really be hurting those builders....banks sure aren't going to loan more money at this point until the current homes sell. Ironically the homes that are more considerate of the neighborhood (like the nice Spanish style that HGC did on 7th Street) have sold fairly quickly, while the ones that look like they come out of Aledo aren't moving.

There is a really high-end Tuscan style home going up on the 3800 block of West 6th, and they're asking $1.25 million. That's a new high for a home on a 50 foot lot as far as I know, and if I was the investor on that house I would be sweating bullets right now. No chance in the world that they get over $1 million for it any time soon.


#208 hannerhan

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Posted 12 August 2009 - 09:05 AM

I have noticed that there are now a LOT more of these new homes on the market in Monticello than there were a year ago. I live on 6th Street, and right now in a 3 block area there are 5 homes for sale for $700k+, all of which were built within the last 4 years. Spec construction has come to a dead stop and several builders are having major problems. That's in addition to the older homes on the market. Prices don't seem to have really come down significantly yet, but at some point something has to give if people really need to unload these houses.

What a difference a year makes.

#209 McHand

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Posted 12 August 2009 - 09:25 AM

QUOTE (hannerhan @ Aug 12 2009, 10:05 AM) <{POST_SNAPBACK}>
That's in addition to the older homes on the market. Prices don't seem to have really come down significantly yet, but at some point something has to give if people really need to unload these houses.


Maybe they will become rental properties?

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#210 Bradleto

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Posted 28 April 2010 - 11:59 AM

Wow, it has been many months since anyone has posted here regarding new homes in old neighborhoods. I actually started the thing back in the summer of 2006.

Well, first, one of the "new" homes going in I mentioned almost 4 years ago now (in the first post)... it is finally approaching completion. I speak of the home on Colonial Pkwy across from the golf course, quite a project. I can't think of any other homes in my memory that have taken almost 4 years to complete. Too, as an infrequent builder of homes, I can't even imagine what trades required so much time doing their parts. The foundation was extensive, that is for sure. After that, I am lost for an answer.

Anyway, a couple of lots to the east there on Colonial Pkwy, yet another home is going up. Period Homes is the builder as I recall. I don't know if it is a spec home or not.

Too, there are several new homes on Park Hill west of University.

Lots for sale all over the TCU/Colonial/Bellaire neighborhoods. One on Stadium is a narrow lot and I think it is listed for $225,000, another on Westcliff Rd. N. is $325,000, another where you'd need to scrape the existing home on Simondale is $595,000, and one sale for a lot is pending on Alton Rd. It had originally been listed for $995,000 but the price dropped considerably. I heard what it sold for but don't feel a liberty to discuss it.

With prices for "dirt" like that, often well more than homes were selling for in the same areas just a scant few years ago, real estate in certain pockets of Fort Worth appears immune.

Lots of neat remodels going on too. I walk past a few very often in the Westcliff area. One neat approach I have seen used now several times is for someone to take a rather small home and cut it off at the top plate, add a whole second floor and often a bit more ground level foundation, and double the size of the home while updating the whole thing. Whether this is cheaper than just taking one all the way down? I am uncertain, but some nice work anyway.

Cheers! Brad

#211 qmcgown

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Posted 28 April 2010 - 03:05 PM

"another where you'd need to scrape the existing home on Simondale is $595,000,"

I think the lot you reference must be 2814. My grandparents built that house in the early 30's, and it was the second house on the street, constructed well before the architectural scale for the block was set. The modest 3 BR 2 bath house was designed by my uncle, who was then attending Rice. He went on to a pretty well acknowledged architectural career in New York City and my grandparents stayed in the house until their deaths in the late 80's. My wife and I lived there for a while and almost bought it, but Simondale is not the quiet, slow street it once was. I will be sorry to see the old home go, but the full acre lot obviously cries out for something bigger. It'll be interesting to see what happens there.

#212 Bradleto

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Posted 29 April 2010 - 09:42 AM

Great information.

I was reluctant to list the actual address on Simondale, but that is it . . . sitting on top of the actual west cliff, as in "Westcliff," with views for miles from the elevated backyard looking down over Tanglewood and lower elevations on the west side of Fort Worth.

On the listing itself, it is being positioned as a purchase for the lot value, not my idea, but the reality again of the dirt value in some areas.

The Alton Road lot I wrote of had a property sign with a "pending contract" but it is no longer there, so maybe the sale has closed. There was a very nice home on that lot, and one heck of a story making its rounds around the neighborhood as to how the home ended up being razed, but I don't think it is suitable for public consumption.

What has happened is so many smaller homes sitting on expensive dirt get sort of stuck in a situation where the improvements have no value because they will likely be removed (razed) by the next owner. On the 2814 Simondale property, using this logic, the propery would actually be worth MORE with the home already removed since it would save the buyer about $15,000 to have it razed. And, even if someone went in and put, say, $100,000 into remodelling efforts, it would still be deemed a structure too insignificant for the value of the lot. That makes improving the existing structures in these cases, a bad business decision. It is a better decision, for sure, when viewed for the enjoyment of the home by its owners and not in the sense of it being just an investment decision.

Your grandparents would likely be sad to see their home removed I suppose, though likely bemused and tickled to know that likely, what a $20,000 property in the 1930s ???, has such a value these days.

They picked a great location, back then on sort of on the outskirts of town.

Brad

#213 Bradleto

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Posted 01 May 2010 - 08:41 PM

Yet another razing yesterday . . . and completed today in large part, this one on Bellaire Drive North (north of the temporary TCU parking field due north of the TCU track & field area. Most of the structure came down yesterday; then today, I could hear the distinctive scraping sound as hunks of old concrete piers and various foundation elements were being scraped and loaded on trucks.

I have no idea what goes up next, whether the homeowner is rebuilding on the lot, a spec home, or that it was sold intended to be scraped for another person's custom home.

Brad

#214 Bradleto

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Posted 19 May 2010 - 11:42 AM

Another home razed over near Colonial Country Club on the circle a few days ago.

You can see the debris and the empty lot as you drive toward Simondale since it is about 3 or 4 homes from the corner as one drives west.

Brad



#215 mmiller2002

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Posted 20 May 2010 - 11:21 AM

QUOTE (mmiller2002 @ Aug 12 2008, 01:08 PM) <{POST_SNAPBACK}>
QUOTE (76107 @ Mar 21 2007, 09:29 AM) <{POST_SNAPBACK}>
What's really interesting about the house on Bunting and Virginia is that it isn't a duplex, but rather a spec house for which its builder hopes to reap north of a million bucks. Which is kind of going to be a canary in the mine that is the west side. Admittedly, he's got several other handsomely priced properties on the market, but a million three to live on the corner of Virginia and Bunting? I think that a lot of this redevelopment, insofar as River Crest/Hi Mount is concerned, has hit its logical ceiling. I don't see how someone could pay a million three to live on the corner of Virginia and Bunting and hope to recoup their investment when it came time to sell.


This one's still for sale. Seems like its open every other Sunday.



Still for sale, still open many Sundays. I'm glad it hasn't sold. It was awful to put such a large house there. I wonder what the listed price is now?

#216 Dismuke

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Posted 20 May 2010 - 09:17 PM

QUOTE (Bradleto @ Apr 29 2010, 10:42 AM) <{POST_SNAPBACK}>
Your grandparents would likely be sad to see their home removed I suppose, though likely bemused and tickled to know that likely, what a $20,000 property in the 1930s ???, has such a value these days.



I am not familiar with the house, but based on your description of it, I rather doubt it was worth $20,000 in the 1930s.

According to this handy calculator http://www.aier.org/...ving-calculator factoring in the currency inflation that has occurred since then, $20,000 in 1932 is worth about $316,350 in today's currency. That would be a LOT of money back then for a house on the edge of town - especially given that it was the Depression and that they didn't have the cheap credit and long term mortgages of recent decades which have helped bid up the price of homes. I wouldn't even be surprised if it was worth less than $10,000 back then.

If so, that of course, only amplifies the larger point you were making.
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#217 hannerhan

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Posted 20 February 2013 - 03:52 PM

Some very noticeable acceleration in the infill home market has occurred over the past year.  Edwards Ranch lots have been selling briskly, and some of the builders doing infill work (Village, V Fine, etc.) all seem to be very busy right now compared with a couple of years ago, and I would guess that land prices in 76107 are now topping 2007-2008 levels for the first time since the downturn.  Seems like every time I drive up 4th-7th streets in Monticello there is another teardown, and the high end stuff on streets like Rivercrest/Thomas/Washington is all turning over as well (both with remodels and new construction). 



#218 mmiller2002

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Posted 21 February 2013 - 03:39 PM

Boo, my taxes will continue to rise...



#219 JSJ

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Posted 02 March 2013 - 05:03 PM

Some very noticeable acceleration in the infill home market has occurred over the past year.  Edwards Ranch lots have been selling briskly, and some of the builders doing infill work (Village, V Fine, etc.) all seem to be very busy right now compared with a couple of years ago, and I would guess that land prices in 76107 are now topping 2007-2008 levels for the first time since the downturn.  Seems like every time I drive up 4th-7th streets in Monticello there is another teardown, and the high end stuff on streets like Rivercrest/Thomas/Washington is all turning over as well (both with remodels and new construction). 

 

Too true!

 

There was a tear-down on my 76107 street a few days ago.  Village is building the new house.  Noticed Village also did specs on W. 7th and sold one right away.



#220 David Love

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Posted 02 March 2013 - 08:21 PM

Nice to see some positive movement for a change...!


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#221 JSJ

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Posted 04 September 2013 - 04:40 PM

Lots of tear-downs close to me.  Village is building a house in the 4000 block of Mattison (approx.. $750,000).  Next door on the corner of Mattison and Virginia is a Stacy Reynolds (approx.. $900,000).

 

More tear-downs in the 4000 block of Bunting.

 

There is quite a bit of activity going on…  



#222 hannerhan

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Posted 05 September 2013 - 07:27 AM

Lots of tear-downs close to me.  Village is building a house in the 4000 block of Mattison (approx.. $750,000).  Next door on the corner of Mattison and Virginia is a Stacy Reynolds (approx.. $900,000).

 

More tear-downs in the 4000 block of Bunting.

 

There is quite a bit of activity going on…  

 

Yeah it seems like there is a very high demand right now for the infill lots that are in the $150-175k range, which translates to a new house around $600-800k.  With Edwards Ranch having sold all 58 of their Phase 2 lots at $125k+, it seems like many people are now back to looking in Monticello, Crestwood, TCU, etc. for teardown possibilities.

 

In the past 9 months I have also noticed an acceleration of high-end teardowns in new Westover Hills.  Right now there are several new homes going up on lots that sold for about $1 million before being scraped. 



#223 mmiller2002

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Posted 05 September 2013 - 11:09 AM

Lots of tear-downs close to me.  Village is building a house in the 4000 block of Mattison (approx.. $750,000).  Next door on the corner of Mattison and Virginia is a Stacy Reynolds (approx.. $900,000).

 

More tear-downs in the 4000 block of Bunting.

 

There is quite a bit of activity going on…  

 

I live right near there.  That HUGE corner house looks awful from the front.  Just a big slab of bricks with a tiny window facing front.  It looks so "heavy" or whatever.  Ugh!  That's the crap that keeps my taxes going up when those little lots are going for $250K+ to bulldoze.

 

I still smile when I see an Open House sign at that monstrosity that was never sold a block south at Bunting and Virginia.  It started out at $1.4M, wonder what it is now.






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