What are home prices like in your area?

Bryan330i · Jun 7, 2004

Home prices here are crazy. Not that prices are real high like California, Washington State, Massachusetts and others, but that prices have been going up so fast.

The average price here is about 240 but that includes condos, which there are a lot of here. A single-family home average is probably higher and there are reports of another 8-10% increase this year.

My house has gone up about 150 in just over 2 years and there is still no way I could ever afford places like San Jose or Seattle as much as I would like to.

I would love to find the right mix of price and quality of life.

gizzy · Jun 7, 2004

My brother lives on Regale Sunset Av. in Henderson. He was telling me that the prices their are completely insane right now. They built their house for 160 2 1/2 years ago and now people are selling the same floor plan for 300-400K even though they are still being appraised for much lower. Since he can live pretty much wherever he wants to, he will be selling soon while the demand is high and moving somewhere housing prices are more reasonable.

Take the profit and run.

Bryan330i · Jun 7, 2004

Appraisals are nothing here and homes go for more than appraisal. The problem is that everywhere I want to move the prices seem to have increased even more than here. I am starting to look at a lot of other places now.

Big Daddy · Jun 7, 2004

Here are some thoughts on home prices I can still remember:

My dad bought a home in Agean Hills, Mission Viejo, Ca. in 1973 when there were only 13k people in MV. He paid $45,000.00. Sold the home in 1979 for $250k.

I bought my first home in Idaho in 1981 for $30k, three bedroom 1.5 baths. Sold it in 1992 for $56k.

Bought my second home in Idaho, brick, five bedroom, three bath, 2 car garage, large lot, shop, 3200 Sq. ft., etc in 1992. Paid $119K, sold it to my brother in 2003 for $140k.

Bought my first home in King County Wa. 3 Bedroom, three bath, loft, family room, fenced, landscaped, alarm system, three car garage, 2500 Sq. ft. Large master suite, etc. $256k.

I am told that prices in King County are up 10-20% over 2003. I know that there are areas in Washington state where nice homes can be purchased in the 100-200k range, new. Those are not in the major metro areas though. Idaho is a great retirement state. Homes are reasonable and your money goes a long way, the draw back is you live along way from culture!

Tom · Jun 7, 2004

My uncle's house of over 3,000 square feet is currently on the market at over $750k. He just closed a deal on a house that is around 4,000 square feet for over $1 mil. This is in the bay area out here in CA.

Bryan330i · Jun 7, 2004

Home prices in California are crazy. I was looking in the San Jose area (about a 50 mile perimeter) and I could not believe what I was getting, homes that are 1200-1500 Sq. ft in the 500’s and up, and some way up into the 700’s.

BigDaddy, where in Seattle would you look? I would like to be as far as possible from Seattle but still close enough that most business travel is not unreasonable nor the commute too long. I was looking in Redmond, Bellevue, Newcastle, and Renton areas.

I am not looking for new or anything real big. Schools are important and less house for better area and schools would be a trade off I would make. Also, an older established area with lots of trees would be nice.

We are trying to pick an area we can live with for a long while and are trying to look at all the possibilities. I am sick of moving-twelve years of marriage in 5 states gets old.

gizzy · Jun 7, 2004

Big Daddy said:

I would love to move back to Idaho. I'm just not sure what I would do for work though as my company only has like three clients in Idaho. INEL comes to mind, but it's difficult to get a job there as a programer with the competition (plus I don't care that much for the Idaho Falls area). Besides, I'd rather live in Driggs again for the view of the Tetons or find a place by Cordelane lake. I don't think I will ever be able to convince my wife of it though. She hate's the snow and likes the east cost.

jszar · Jun 7, 2004

Milwaukie Oregon (just outside Portland, the nicer area, but far from the nicest): 3200 sq. ft. = $370k approx.

Same house 5 years ago = $315k

go up to lake oswego, which is a few miles from here, and the price will triple, if not quadrupple. (sp?)

Dave8812 · Jun 7, 2004

were planning to move to Montana. The house were looking at is 6 bedroom 3 bath 3,100 sq ft, 5 acres, and a guest house. I think were buying it for about 275k. The house were in now is 2,000 sq ft, 3 bedroom 2 bath, 5 acres, barn and out buildings. Were selling it for 280k.

tool fan · Jun 8, 2004

All I know is that in Germany realestate is like everything else...OUTRAGEOUS. I just bought a house in a town called Kemmern right outside of Bamberg (which is between Nuremburg and Wurzburg) 3 Bedroom 2 1/2 Bath, Bar, and Sauna for 288 k euro that is more than 300k dollars and total space is about 210 sq meters...not that large.

BMW_FaNaTiC · Jun 8, 2004

The house i live in was built in 2000, and was purchased at $750,000. 6 bedrooms, 4 baths, 4 car garage, pool, marble, i dunno what else. But we we just sold it and closing on July 1 for $900,000! in 4 years it went up 150,000$

We already bought a home in Beverly Hills for 1 million. Its really small, not like this one. 4 bedroom, 2.5 baths, 3 car garage, but we are gettign a smaller house because my sister moveing out. 1/3 of homesi n beverly Hills is north of 3 million $

Bryan330i · Jun 8, 2004

gizzy said:

I would live in Idaho but I have the same job problem. I would love to be a CPA in West Yellowstone but I don't think I could survive.

gizzy · Jun 8, 2004

Bryan330i said:

Yea, you probably would need to have a side business going on as well, unless you could drum up accounts with a number of the local businesses. The CPA that my parents used had to run a dairy farm as well just to keep afloat. It would also be kind of hard to do that someplace as close nit as West Yellowstone and a major part of the economy is tourism. But then to, Driggs used to be a very quiet town and is now turning into another Jackson Hole (this is both good and bad in my opinion). Real estate is skyrocketing, and new business are being started by people that are not "locals" and they are also prospering partly due to all of the new people moving into the valley. Most of the old timers still due business with those who have been around do to the trust that has been built up over the years.

If you were to go there and needed to start another business besides accounting, [idea]

I would probably suggest renting X5's to the summer cabin people. Don't know if it would survive, but if I ever by a cabin their, I'll rent an X5 from you.

frolf · Jun 8, 2004

home prices are moderate, our house is on the market now for 30% more than it was appraised for last year.

Big Daddy · Jun 8, 2004

Bryan330i said:

Bryan, the commute to downtown Seattle from the north is worse than from the south. Redmond and Bellevue are in the high dollar area and going up. Renton is nice and you can find some older homes in established neighborhoods in the 175-250k range. I am just south of Renton in the county. The further south you go the more your $$$ buy. Kent, Auburn and Renton have the best schools. The Sounder train runs south to Tacoma if you do not mind riding the train into town. Let me know if you want me to send you some real estate brochures or anything.

Kirby · Jun 8, 2004

My area, about 50 miles NNW of Philadelphia, has had real estate growth, but it is still a Bargain compared to what a lot of you guys are paying.

I "built" my first house (development spec home - 1800 sq. ft.) in '84 for $65K, sold it in 1990 for $125K. We had great real estate appreciation going on at that time.

I "built" the house we're in now (custom construction - 3000 sq. ft.) in '90 for $175K. Added an ingound pool a few years ago. It would sell for $250K - $275K today.

I travel alot on business, especially N. Cal, S. Cal, and the southeast (Atlanta, etc). I like to check real estate listings just to see what is going on. From what I have seen, my home would be $400K in Atlanta, maybe up to $800K or so in the hot real estate markets in California. Probably $1M in Beverly Hills. That's crazee!

If it were cars, that's like saying a 330cic is $50K in Pennsylvania but would be $150K in San Francisco!

I was told some story that real estate values go up $5000 a mile as you drive from Modesto to the San Francisco Bay area, that is, a $500,000 house in Modesto would be $1M in the bay area. That IS mind boggling!

M_Six · Jun 8, 2004

Not too bad here in Charleston, IL.

Nice house.

Not a lot to do here, though. 2 hours to Indy, 2 hours to St. Louis, 3 hours to Chicago. That's the trade-off for low housing costs.

On the other hand, my ex and I bought this house in Massachusetts in 2000 for $164k and you can see what it's on the market for today.

Bryan330i · Jun 8, 2004

Big Daddy said:

Bryan, the commute to downtown Seattle from the north is worse than from the south. Redmond and Bellevue are in the high dollar area and going up. Renton is nice and you can find some older homes in established neighborhoods in the 175-250k range. I am just south of Renton in the county. The further south you go the more your $$$ buy. Kent, Auburn and Renton have the best schools. The Sounder train runs south to Tacoma if you do not mind riding the train into town. Let me know if you want me to send you some real estate brochures or anything.

Thanks BigDaddy. [thumb]

If we get closer and things look more serious I may have a few more questions.

Bryan330i · Jun 8, 2004

Here is a nice 2 bed 1 bath for 510,000 if anyone is interested.

Expensive little house

M_Six · Jun 8, 2004

Unreal. How does anyone live out there? Where do the teachers and firefighters and service industry people live? [screwy]

What are home prices like in your area?

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