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Selling the Texas Megamansion: Why It’s Hard to Find a Buyer

If you’ve spent much time on Facebook or other social media sites lately, then chances are good that you’ve heard about the Texas megamansion. It’s a home built right outside of Houston in a city called Manvel that many people believe is haunted. It was abandoned and left incomplete, and despite its amazing size and potential, finding a buyer is proving difficult.

The Original Intent

A doctor and his wife started construction on the Texas megamansion back in 2000. It was to be a 63,890 square foot facility that housed not only their living quarters, but also an area for foster children and yet another for a full-fledged doctor’s office. Somewhere along the way, the couple (who happened to own more than 10 acres of adjoining land in the area) decided the project was just too large. They abandoned it, left it unfinished, and instead built a 48,000 square foot home on adjoining land. It’s been owned by two other people – including today’s owner, Jim Youngblood.

Youngblood’s Failed Attempts to Sell

According to the Texas megamansion owner, there is no shortage of people who are interested in buying the 30-bedroom luxury home (with room for 30 more bedrooms). It’s currently listed for $3.6 million, which is an amazing deal given the size and location of the property. However, everyone who has shown interest thus far has been unable to obtain the financing they need, and this is baffling. Youngblood claims that of the dozens of times he’s had it under contract, not a single bidder got approval.

texas megamansion 300x194 Selling the Texas Megamansion: Why It’s Hard to Find a BuyerWhat the Buyer Will Get

Keep in mind that the Texas megamansion is far from a finished product, which helps to explain the relatively low price. The shell of the home is selling for $3.6 million, and some investors claim it will take at least that to finish it. Regardless, most of the structure is already there, including an indoor pool, spa, and 30 bedrooms. There’s room to double the number of bedrooms, and there’s even a large detached garage that would make any car collector happy. People have envisioned turning it into an assisted living facility, a massive bed-and-breakfast, or even a shared family living space big enough for aunts, uncles, and cousins alike.

The Plan from Here

Youngblood says that if he doesn’t sell the home soon, he may consider using it for his own business purposes. He’s already replaced the roof and confirmed that the foundation is solid. Youngblood may even turn the property into an office park of sorts, complete with ponds, fountains, and even grazing cattle. It’ll certainly get him some attention, and the curb appeal is amazing.

The Texas megamansion simply isn’t selling, but it’s hard to blame the real estate market on the lack of movement. Truth be told, its location is more than likely the main culprit. Most people view it as a commercial property, but because it’s so far from the Houston metro area, people fear that the distance could end up being a problem. This not only deters buyers, but it also deters lenders who want to see solid business plans in action.

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