This week’s Flip or Flop Fort Worth proves that a house can appear to be in great shape, only to find that something pricey lurks behind a wall or under the floor.

But before we start our recap of FOFFW, we have some reader mail to answer. (more…)

12900 Portifino is basically a dream. I mean, 4195 square feet, three fireplaces, home theater with bar – HOME THEATER! – outdoor kitchen, beautiful finish-out and green as the grass was in June. When the builder, Royal Crest Custom Homes, told me the home was just under $700,000, I said you are lying! This is a great example of why everyone wants to live in Texas, and why everyone wants to emulate our housing market. You get a beautiful home with oodles of square footage, closets the size of Manhattan, jetted master tubs, walk-though showers, all the bells and whistles, without breaking the bank.

OK, full disclosure: you are in southwest Fort Worth, near Benbrook, an area that has experienced significant growth.

12900 Portifino has 4 bedrooms, 4 and a half baths, 3 fireplaces, a home theater that will seat 20 with equipment included, wet bar, huge outdoor living area with grill, thermo windows, foam insulation and radiant barrier decking. Brand spanking new at $699,950. No reason at all why they cannot build these near Dallas.

Yes, I know I cheated. This is supposed to be the $500,000 or less category —  but I was so surprised when I saw this home at this price, I just had to share. The home is west of Fort Worth, in Aledo, Texas. Fabulous area; development so intense the folks there seem oblivious to the nation being in a recession. Portifino is in Tarrant County, but uses the Aledo ISD and, at this point, homeowners pay no city.

So with that tax discount, I thought I got us closer to $500,000.