Realtor ®-The Woodlands Real Estate

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What Can You Get For 99K?

99K House Competition

Look around the MLS in any given city....what can you get for 99K?  Not much right?

If you take a look at our housing, there is not a whole lot for low income families.  Take in to consideration the cost of housing, HOA Fees, Property Taxes, Gas mileage because people will likely have to drive from affordable housing, Utility Bills.....OH,  Utility Bills.  Those are getting so many of us these days.

What if affordable housing was really affordable all the way around?

I wrote a post not too long ago where I indirectly talked about Green Building and affordable homes.   I mentioned taking areas in Urban areas and rebuilding with Affordable, Green Homes.  Why?  I believe that everyone could really benefit from Energy Efficient, Green Homes.  Discounts on Insurance, lower Utility Bills, close to areas with jobs....etc. in existing Urban areas.  Excellent idea.

Well, apparently I'm not the only one thinking that way.  Yeah!   Rice Design Alliance and the American Institute of Architects have joined to make the 99K Competition in Houston.  They are currently taking applications for Designs on sustainable, affordable homes that can be built AND SOLD for 99K OR LESS.  

The homes are to be up to 1400 sq ft, 3 bedrooms and 1 1/2 - 2 bathrooms and need to fit on appx. a 50 X 100 ft lot.  There will be 3 designs chosen and built starting at the end of March 2008 in Houston's Historic 5th Ward.  

Sounds like a GREAT way to bring new thoughts to Affordable Housing in Urban Areas.   I can't wait to see what amazing stuff comes out of this contest. 

If you would like to read more about the competition and the area considered for the 99K Competition, You can go to the following website--->>>>   the 99K House Competition

Comments

Thanks for the post Stephanie.  I will watch the competition.

J.

Posted by Jeff Kessler, Broker, ABR,GRI 512.801.5666 (Austin Homes, Realtors www.CentralTexasHomeRebates.com) over 2 years ago
I love it, lets leave the "bigger is better" concept behind and start using a little common sense. I've owned a few houses that were smaller than what you mentioned for just under $100K but they were 100 year old houses. To get something new, a decent size,  at a reasonable price is awesome!
Posted by Dena Stevens ~ Associate Broker, Realtor,CSP, SFR (Colorado Western Real Estate) over 2 years ago

Hi Jeff,  Sounds like it should be interesting.

Hey Dena,  it is awesome!!!   Just think what these sustainable homes could do for low income real estate.  Very Good Things!!!   I hope to meet someone involved with it so I can get the inside scoop on how it goes.

Posted by Stephanie Edwards-Musa, Realtor ® Spring/Woodlands, TX Real Estate (Prudential Gary Greene, Realtors ®) over 2 years ago

Stephanie,

I like the idea a lot...also I would like to see an effort to retrofit 'greenly' existing housing!!! Thanks,   Fran

Posted by Fran 'The Title Man' Gaspari Title Insurance-PA & NJ (Patriot Land Transfer, Inc.) over 2 years ago
Hi Fran,  I'm doing that with my home.   :)   They are always coming up with new stuff....maybe that will be next. 
Posted by Stephanie Edwards-Musa, Realtor ® Spring/Woodlands, TX Real Estate (Prudential Gary Greene, Realtors ®) over 2 years ago
How cool Stephanie!  But if we wait a few more months, I'm sure there will be plenty of homes under 99k for sale :-)  In fact, we're now seeing here 3/3/2 homes in the 115k price range.
Posted by Terry Haugen STAGE it RIGHT! 321-956-2495 (Stage it Right!) over 2 years ago
Stephanie, Great post. That is great that you can purchase home for that. I know in Florida if you find a home for that price it means it needs a minimum of 100K more just to walk in the door..
Posted by Matthew J Blum - (retired from the business) over 2 years ago
Stephanie--This is great! If builders start thinking affordable rather than extravagant, there might be more homes selling all the way around! And green helps the affordability factor with lower heating/cooling bills too! Good info!
Posted by Teri Eckholm, REALTOR® Anoka County Acreage & Lakeshore Homes (REMAX Specialists) over 2 years ago
Stephanie, we have some urban renewal projects here as well, with homes going for just over 100K.  It's frustrating though.  I've got a great house listed that is a 3/2/2 across from a park that needs a bit of TLC.  I keep showing it to people who drive up in new vehicles and then state that they can't really afford that kind of a house payment...
Posted by Chris Tesch College Station, Texas Real Estate (RE/MAX Bryan College Station) over 2 years ago
what a great post! you are our star!!!!
Posted by Bill's Blog - Florida Realty Professional - AHWD (Charles Rutenberg Realty) over 2 years ago

This makes so much sense Stephanie, very cool!  There are so many families that will benefit from this idea.

 

Posted by Burbank Real Estate Agent Ana Connell (Keller Williams Realty) over 2 years ago
Stephanie- Yeah, I have had that before too Chris- they drive Escalades and Hummers and have a car payment more than a house payment, makes me wanna go hmmmm. Katerina
Posted by Nestor & Katerina Gasset Realtors® Wellington Florida Luxury Homes (International Properties and Investments, Inc.) over 2 years ago
What a great post Stephanie!! 
Posted by Real Estate Specialist | Brandon, FL | Susie Roscoe (Signature Realty Associates) over 2 years ago

Hi Terry,  that's too bad.  With this contest they would have low utility bills also!

Hi Matt,  :)  LOL.  Then I couldn't afford to live over there.  Well, I might could buy a 1/2 bath. 

Hi Teri,  Absolutely!  I hope the trend continues after the first few homes are up.  Maybe some Developers will like the idea?  We can hope.

Hi Chris,  I think the property taxes are a problem sometimes.  Heck, my house payment would not even be $400 without property taxes.

Hi Ana,  I think so as well.  It is a VERY good thing.

Posted by Stephanie Edwards-Musa, Realtor ® Spring/Woodlands, TX Real Estate (Prudential Gary Greene, Realtors ®) over 2 years ago

Stephanie,

Wonderful initiative over there. This is exactly what is needed to advance the green building concept, contests and whatnot where professionals can showcase their ideas and designs and find out whether they work or not and at what cost.

Posted by Esko Kiuru over 2 years ago
Hi Esko, I am so excited about this competition! I spoke with an architect tonight that is going to participate, I hope to get some good stuff to share with the group!
Posted by Stephanie Edwards-Musa, Realtor ® Spring/Woodlands, TX Real Estate (Prudential Gary Greene, Realtors ®) over 2 years ago
I love reading things like this Stephanie! Keep us up to date! It will be interesting to see how many entries there are. This is where it all needs to start!
Posted by Mary Bigelow, 2010 Let's Do It AGAIN!!!! (Contractors Building Supply) over 2 years ago
Hi Mary, I agree!!!  It will be amazing to see how it turns out.  :)
Posted by Stephanie Edwards-Musa, Realtor ® Spring/Woodlands, TX Real Estate (Prudential Gary Greene, Realtors ®) over 2 years ago

It all starts with a good, simple, efficient design Stephanie. Get that footprint down to 900 square feet and plan on a shoe-box footprint. Value engineered framing, properly sized mechanicals and using products that perform instead of going for the big, national brand names that make you spend more on marketing than product. Voila. You've got yourself an affordable home. Floor coverings and appliances are tricky but not impossible.

While working for the Home Builder Association we put together a number of affordable plans for anyone to use. Check out the latest version here. You won't see anything really special. Just decent housing. And you can do it green! It isn't rocket surgery. Just good design.

Posted by E H over 2 years ago
Stephanie this is great!  In my area we have some new affordable housing, but no one was thinking green!  There has been a lot of concern about the costs of green -- and the problem with appraisers not appraising home from a green vantage point.  I think there is a big educational curve in New Hampshire.  There has been some progress, but it looks like education is going to be a big component.
Posted by Joan Whitebook, ABR,e-Pro,CEBA Southern New Hampshire (Buyer's Option Realty Services) over 2 years ago

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