Re: SharingInterestingConceptWithCREONLINERs - Posted by Harold Whiteley
Posted by Harold Whiteley on April 21, 2002 at 12:43:12:
Thanks Tim for your feedback. It is very much appreciated!!..
I guess I need to clarify what I meant by “run-down” houses within very nice and up scale neighborhoods.
These are houses that, regarless the “PERIOD” that they were built, they are of the “less desired” design and houses which lack the overall “curb appeal” that the majority of other neighborhood homes have within a defined area.
They do exist in any neighborhood, regardless of the price range.
I scoped out what these Fort Worth guys were doing, by driving one afternoon all around the connecting neighborhoods and there were prime examples of those certain type of homes that just seem to stick out as being out of line with the overall master plan of the various neighborhoods, but remembering that there wasn’t any MASTER-PLAN back when these homes were being built in the early 1900s and through to the 1960s. These are not track-homes, as the builders of this PERIOD timeline built distinct homes of various styles, in which, the majority of homes blended nicely into the character of the neighborhood.
Therefore, regardless of the price level of a neighborhood development, there are those certain houses which have fallen out of sink with what is really the essence and purpose of the neighborhood’s character.
I live in the older part of my town of 70K (Lewisville) and these houses were built in the early 1900s (mostly a farming community back then) with the town’s professionals building the really nicer type houses (i.e., Victorian style and colonial-tpye homes). But the majority of older houses that are the run of the mill houses built in small farming communities back then, it seems NOW these homes are sitting on lots that are almost equal to the value of the older houses that sit on them.
And in my area, particularly, a high population of Hispanic laborers are continually moving in with accumulated cash --to buy these older houses, but instead of doing any major remodeling and such, they are moving in several families, then helping these families to buy these old houses once they come on the market. These old houses don’t stay on the market for very long --at all --until they are sold and then you notice the families moving their accumulated belongings and family stuff into their newly acquired houses.
Now once they move in, they do try to keep a nice looking yard --as eventually there will only be ONE family living in the residence after a certain timeline and by then, the other families have also purchased their new “older” house --to move it to.
So, it isn’t like the neighborhood is going to the dogs, for that is NOT the case, but mean while the price of the older houses are being “re-established” with the on-going new purchase transactions, therefore, increasing the value of the homes in the general neighborhood.
Anyway, thanks for the feedback and best wishes to you and everyone in their future CREI deal making activities.
With warm regards,
(Dallas-Ft.Worth Metro Area)