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Off Topic Chatter Houses cost too much!
101 messages, Last post on Jan 22, 2008 at 9:31 AM
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Replying to: fintail (Jan 17, 2008 12:20 pm)  -Rocky
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Replying to: rockylee (Jan 17, 2008 7:35 pm) Actually 15 years ago the market was very reasonable, and a lot of people (who were old enough...I was 15 years old 15 years ago and was happy to have saved a grand for my first car) bought in then, or sold their houses in California back during the exodus, and had enough equity to easily buy something. The Californicators are another force behind the inflation, everywhere from Portland to Vancouver (BC).
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Replying to: fintail (Jan 17, 2008 7:40 pm) -rockylee |
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Actually 15 years ago the market was very reasonable, and a lot of people (who were old enough...I was 15 years old 15 years ago and was happy to have saved a grand for my first car) bought in then, or sold their houses in California back during the exodus, and had enough equity to easily buy something. The same is true here in Colorado ... lots of ex-Californians sold houses there, moved here and found they were able to get twice the house for half the money. Now, in all fairness, I was one who moved from CA to CO, but I wasn't at a point where I could purchase a home (recent divorce, new job, etc.). I bought my first (and so far, only) house in 2000 for $159K.
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Replying to: michaell (Jan 18, 2008 9:46 am) That 560K shoebox I posted sold for 125K in 1994 and was worth under 200K as recently as 2002. |
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Replying to: michaell (Jan 18, 2008 9:46 am) It was a good time to buy. We bought our first house in 2000, also, for $155k. A tiny 60-year-old Cape Cod on a tiny 50x100 lot. Put maybe $10k of work into it and sold it 4 years later for $285k (only 10 days on the market). Not a bad return on investment! Went 1 town south in 2004 and bought a 10-year-old 4-bedroom colonial on 1 acre for $399k. As of the appraisal last April, it was valued at $529k. Again, not bad! Who knows what the future holds, though. I ain't movin again, that's for sure. And that's probably a good thing because I'm not sure anyone is buying. |
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Yeah, when we bought, prices were going up every couple of weeks. Last time we checked - a couple of years ago - the house appraised at $215K. I suspect that the value has come down a bit since then. We have put our house on the market a couple of times in the past 18 months, but we didn't have any serious interest. So, we'll stay put for the next few years. A tiny 60-year-old Cape Cod on a tiny 50x100 lot. Funny, our house is on a 50x100 lot, as well. We bought our house when the lot was just dirt, and watched them build it. We don't look at it as small, we look at it as 'right sized'.  The nice thing for us is that we have a greenbelt behind us so only neighbors on either side. And, it's a quiet street with (surprisingly) lots of single folks.
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Replying to: michaell (Jan 19, 2008 11:24 pm) Its just that I grew up on 2 acres surrounded by forest and gravel pit, so I am accustomed to space. Living in a neighborhood and seeing people just over the fence when you are outside on a summer evening drove me nuts. We had a soccer field for a grade school just behind us, but the neighbor on the one side was quite nosey AND noisey. Oh, and the old guy across the street who stood at his door and watched everything all the time was annoying, too. I think we were the only young married couple with no kids in the immediate area. it was just the wrong place for me. Nice enough neighborhood, but not my thing. Now I'm back where I hardly ever see other people when I'm outside, and that's just fine by me. |
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