Real Estate Prices OMG!

[WXMotorSports DecalsPartsAccs]

I've been watching this house being built for the last three years, which is two blocks from where I live. It's finally finished and they have the For Sale sign up with flyers. So, me and the wife grab a flyer and read through. 3300 SQ FT, Cherry hardwood throughout, 4 bedrooms and two baths. 900K WTF! I was shocked. Our housing complex was built in 2000. The rest of the houses around our complex are 75-100 years old. This new house, they cleared a lot, mind you it's on the main road way where 10,000 cars will pass by it every day and built it so close to the road. I'm suprised no one has done burn outs on the lawn yet. Anyway, I was just shocked at the price because it shouldn't be more than 300K for the area. Maybe when it sells, if it does, my house will go up more in value. Real Estate in Seattle area is ridiculous!



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[gary s]

rob, on the other hand, real estate here on long island is at a plateau and some area's are in a slight decline. but in florida, we purchased a house that is about to be built and it has appreciated 50k before they put down the foundation !

i am also taking advantage of your discount and i will e-mail you the info

thanks

 

[Fer Echegaray]

Hey Rob, 900K for a 3300sq FT property here in the bay area is a GOOD deal, believe me.

 

[John Salov]

i wish houses here in southern ny is 300k. everything here is either 750k-3mil

 

[Johnny O]

That's how it is in places where people want to live. Here in western PA, where no one wants to live, $100k will get you something perfectly acceptable and $400k will buy you a palace. And a fixer-upper that's livable can be had for $50k or less. Supply and demand, baby.

 

[Dallas Starr]

I just had my house appraised this summer, its been in the family for 2 generations. 4400 sq ft and 1200 sq ft garage, 6 bedrooms 3 full bathrooms hardwood throughout and italian tile in the basement and it appraised at 950K.... and its on a 2 acre acreage lot (yes... I have dial up) hahaha.... But they are starting to develop everywhere around me so the price is supposed to go up so I think im going to stay here as long as I can before the value starts going down.



Dallas

 

[John Walker]

In Fairfield County, here in CT a 2000sqft home goes for 900k. So be happy. I bought my house (1450sqft) 6 years ago for 285k and my neighbor (same house) is selling his for 575k now. Just be happy. PS I updated mine completely, e does not even have AC!

 

[J Smith 2]

Live down in the Olympia area. Just had the place appraised to take a 2nd for an addition. In two years it's gone from 185k to 280k. I about fell over when the bank called earlier week to tell me. She thought I wasn't happy with the number.



Downside is property taxes go up too.

 

[Travis Munday]

Jeeze....that's ridiculous. The house next to me is about 1500 sq/ft, hardword and tile throughout the entire house, open to the outside atrium in the middle, and sits on just over 3 acres and is selling for only $220K. I wouldn't pay that much for that house, but someone would.



Then there is the house down the street from me, sits on 40 acres, lots of woods, maybe a 3-4 acre private lake, a stream, private tennis court, the house itself is like 4500 sq/ft, and there are a few outbuildings as well, all this and the value is only about $800K. Now I'd buy that house....

 

[WXMotorSports DecalsPartsAccs]

The house is really out of place in the neighborhood. Blocks and blocks of old houses them boom new house on the corner that is 600K over the other houses in the area.

 

[Larry Gamble]

I can help with the mortgage in nearly every state.

 

[James FreemanJr]

They are building houses down the road from me and the sign says "STARTING in the 1 mill's" and i almost fainted.

 

[Dreman]

Houston has traditionally been a haven of low house prices, but that is going away. We just bought a 36 year old 2800sf house in a nice neighborhood for 140k. New roof, new ac/heat, foundation piers added, and new hardwoods/tile downstairs. It was the least expensive house in this neighborhood, and we put a contract down on it the second day it was on the market. Other houses in this same neighborhood are going for 145k to 1.35m. We were getting seriously frustrated with trying to but other houses, but it made us get ready to pounce on this one. We really see God's hand at work here.



Our little rent house, where we just moved from, was on a street with houses that ranged from ours at about 100k up to about 175k. However, there is a builder who is building three houses right across the street that has them on the market for 325k. I think he may be sitting on them for awhile.

 

[TracN Jack]

I Live in the San Francisco Bay Area.... Where to start... ?

 

[Nelson Atwell]

Cities where a paycheck goes farthest



1. New London, Conn.

2. Huntsville, Ala.

3. Baltimore

4. Harrisburg, Pa.

5. Tulsa, Okla.

6. Rock Island, Ill.

7. Troy, N.Y.

8. Corpus Christi, Texas

9. Schenectedy, N.Y.

10. Las Vegas, Nev.



(Oklahoma City, where I live is #15. If I could put every cent I earn into paying for my house, I could pay it off in 18 months! That is affordability.)



Cities with the worst bang for a buck



1. New York City

2. San Francisco

3. Stamford, Conn.

4. San Jose

5. San Diego

6. Santa Barbara

7. Bakersfield, Calif.

8. Los Angeles

9. Fresno, Calif.

10. Boston

 

[Ryan Schaecher]

Nelson-



I've lived in San Diego and in Tulsa, plus have relatives in Rock Island. That list rings pretty true.



I can't complain about where I live (Jonesboro, Ark). A $45,000 income buys us a 1300sqft house, a ST, food on the table, pays two student loans....



We bought our house in 2003 brand new, #11 in a 60 house development. I paid just over $83,000. I could sell the house today, 2.5 years later for $95,000 without question. They are selling the houses as soon as the footings are dug.



We're staying for a few more years so it will be interesting to see what happens in that time.

 

[Fer Echegaray]

TracNJack, I hear ya!



Our equity went up $100k in 1 year

 

[Jake Levin]

My girlfriend bought a condo in June, 3 bedroom 2 1/2 baths end unit for $299K. Her's was built as part of phase 1. Phase 3 and 4 are now being built and start at $365K!

 

[Jenn D]

We just bought a house in August here in Orlando. I NEVER thought I'd pay $175K for a 1200sqft house, but I did. Heck, we actually got instant equity because it appraised for more than the purchase price. I'm even pretty certain now that it's worth about another $10K more.



Our place is great because we have a HUGE back yard with lots of natural FL wildlife....unlike those house-on-top-of-house developments with no trees here.



We got lucky for this price.



Here's a picture of the house just after we purchased it. We've spent the last few months really fixing it up nice. The guy before us never even did lawn work. I don't even think he knew what an edger is.



[Broken External Image]:

 

[Thomas Rogers]

No offense, Jenn D, but OMFG...that's a lot of money for a little house.