• Real Estate Deal of the Day August 26, 2019

    Real Estate Deal of the Day August 26, 2019

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    Update: This property just sold since the recording was made.

    MLS Deal Property

    7534 Eight Willows Road, Houston, Texas 77489

    List Price: $124,500
    Bed/Bath/Pool/Stories: 3/2.1/0/2

    MLS Deal Finder Estimated Value:                          $197,936
    MLS Deal Finder Estimated Discount:                      $73,436
    MLS Deal Finder Estimated Discount%:                   37.10%

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    Real Estate Deal of the Day August 26, 2019

    [Video Transcription]

    Good morning! This is Steve Liang with Real Estate IQ. I'm with Becky Kromminga here, and today we have found a really good deal in Houston. We want to share with you. Check it out!

    Hello everyone, Happy Monday! Today's Houston Deal of the Day is 7534 Eight Willows Road, Houston, 77489. It is listed at 124,500 comping out at about 197. Gives a pretty decent discount because it looks like a light rehab. This is a three-bedroom, two and a half baths. Single Family, built in 1987. It's listed by Cesar Ramirez - there's the phone number. It is a three-bedroom, two and a half baths, two-car garage property, located in Southwest Crossing, just off Fort Bend Tollway and Sam Houston Tollway.

    Restaurants and entertainment establishments are within minutes. The brick backyard needs a little trimming but has a nice little table and there is also a good-sized little patio. The living room floor needs to be painted.  The kitchen had been updated and looks like it was laminated. New countertops are highly suggested as the kitchen looks like it had some wallpaper before. The floor does not look bad, and a little paint tile floor would make it better. The bathroom needs a little repainting and needs the carpet to be replaced. The bathroom needs work.

    It is right next to the Sam Houston Tollway and off the Feeder Road. Using Google Maps, you'll be able to see the neighborhood. There are no major signs, no bars on the window, or any other warning signs. Going back to comps, this property was sold almost a year ago for $94 per square foot. There is property in the same subdivision that sold exactly a year ago for $84 a square foot.

    Another property that was recently sold was 109 days ago after 45 days on the market. And another one was sold 150 days ago just after 5 days on the market. Both are priced around $94 a square foot. Applying these figures to our property, we are at $197,900+. Just like our property, they both have three bedrooms, two and a half baths, same garage space. These comps are also older though, and it could be in your favor if you are looking to rehab this property and it is in Fort Bend School District.

    Let's take a look at the pictures of the comps, and we already looked at ours. Here's one of the ones that we have as comp so we can see how it was fixed up because like they didn't do much to the yard, but looks like your standard grave flip on the inside. The fireplace looks like a piece of instant furniture. Love that virtual staging kitchen looks to be like a solid counter or solid surface countertops with nice tile backsplash, keeping with the gray and white theme. Carpet in the bedroom says there's more instant furniture. It has a nice room in the back, or four seasons room - whatever you want to call it. Like new laminated flooring with some tiles. The kitchen looks like the same solid surface countertops with tile backsplash. Then, open shelving says it seems to be a trend in the kitchen's fewer cupboards and more open shelving. The bathroom has a nicer fixture with a mirror in the sink. I guess that's the end of our pictures.

    Make sure you do your due diligence. But thanks for checking and happy investing!

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