Real Estate

Where are you and what is the "going" rate for houses at this time?

I'm in Central Florida .........and the prices for real estate are HORRIBLE. A 2 BR / 1 BA condo in the "non so good" area sold for $45,000 2 years ago and just sold for $156,000 last week.

Good friends of mine bought a house two years ago for $104,000 and today the smaller, wood-framed (which you would NEVER buy in FL) no garage, 3 BR / 1 BA (huh?) house next door is selling for $245,000.

Lots, that sold for about $8,000 two years ago are now selling for about $25,000.

You can NOT buy a shack right now for less than $200,000 in my area.

Very sad.

Here in Vancouver, if you want a small (but decent) one-bedroom condo in the SUBURBS (not even in Vancouver proper), it'll run about $130,000.

A house in Coquitlam (a suburb) can't be found for less than $300,000. Small dinky 2 bedroom houses in Vancouver can easily be $500,000. It's crazy!!

I am in New Jersey...

I would say a typical nice home, in a typical middle class neighborhood is anywhere from $310,000 to $550,000. It all depends on location and stuff I guess my home for example I think was just appraised for $335,000...it's a typical house, two levels, 2 car garage, 2 and a half baths, 4 bedroom, living room, den, kitchen, dining room, basement. Its about 15 miles from Philly, but you can't actually see Philly.

Then my dad and aunt just sold my dead grandma's house for $510,000...ranch house, 3 bedroom, kitchen, living room, dining room, finished basement...but is 10 miles from NYC and has a view of the skyline from the yard. So as you can see my house is bigger, but that house was worth more...i think location always has something to do with it.


There are a lot of neighborhoods in NJ in Bergen and Middlesex counties where you can't buy a house for under $800,000....I just can't afford to live there lol.

Yeah ......if we're talking about the average - nice homes, they're running between 400,000 - 500,000

It just AMAZES me that shacks you wouldn't even live in are selling for more than 200,000

And that condos and/or townhomes that are considered to be in the drug neighborhoods are selling for over 100,000 !!!

Families just starting out won't be able to purchase their first home around here, as they won't be able to afford it or will have to live in "crack town"

Yes, it's unreal. I bought my first condo last year, and it's TINY!!!!! I like it, it's very cute... but it's still cluttered because I can't figure out how to arrange everything with ZERO storage!

Average Home Price...nothing fancy...$450,000 and up.

That's outside of Boston btw. Within the city...errr...well, forget it...HIGH! :eek:

Where are you and what is the "going" rate for houses at this time?

I'm in Central Florida .........and the prices for real estate are HORRIBLE. A 2 BR / 1 BA condo in the "non so good" area sold for $45,000 2 years ago and just sold for $156,000 last week.

Good friends of mine bought a house two years ago for $104,000 and today the smaller, wood-framed (which you would NEVER buy in FL) no garage, 3 BR / 1 BA (huh?) house next door is selling for $245,000.

Lots, that sold for about $8,000 two years ago are now selling for about $25,000.

You can NOT buy a shack right now for less than $200,000 in my area.

Very sad.

OMG! Look up housing prices in the SF Bay Area, specifically Los Gatos/Monte Sereno/Saratoga (where I grew up and just moved away from). And keep in mind that the median and/or average is NOT a true represenation of prices. Anything under about $750,000 is considered 'quaint'. Two, three million is not uncommon.

Even here in Tahoe, housing prices have jumped in the last few years. A home that I could have purchased for around $350K about 10 years ago is now work about seven or eight hundred thousand.

Can't wait to retire someday and live in an RV. :p

Close to $900,000.00 for a *modest* 3 bedroom, 2 bathroom home.

Unbelievable.

Where are you and what is the "going" rate for houses at this time?

I'm in Central Florida .........and the prices for real estate are HORRIBLE. A 2 BR / 1 BA condo in the "non so good" area sold for $45,000 2 years ago and just sold for $156,000 last week.




I'm in Orlando and my house that I have been renting for 9 years is going to be sold. I couldn't believe when the owners told me they can get $180,000 for it. It's a regular 3 bedroom house in a neighborhood that is quickly running down.

My Sweetie and I are right now researching places we want to move to when we get together next year. We know we don't want here. :rolleyes:

thesedays- yeah my boyfriend lives in a condo in a middle class area and people have been selling theirs for $200,000.

thatgurl- omg i feel so bad for you. i keep hearing the horror stories about people not being able to afford to live in CA anymore.

I'm in Orlando and my house that I have been renting for 9 years is going to be sold. I couldn't believe when the owners told me they can get $180,000 for it. It's a regular 3 bedroom house in a neighborhood that is quickly running down.

My Sweetie and I are right now researching places we want to move to when we get together next year. We know we don't want here. :rolleyes:
180,000?? that seems cheap...i always thought florida had a high cost of living, maybe i'm wrong

In the DC metro area ~ the VORTEX as I call it ~ you cannot get a condo for under $200k. I bought my townhouse 40 miles outside of DC for $109k and sold it 2 years later (a year ago) for $258k. They are now going for around $350k, for a TINY townhouse (1500 square feet).

A MODEST home in Northern Virginia will cost you $500k or more.

I moved to WVA because I could not afford anything in VA after my separation. I bought a nice 2400 sq ft home on an acre right across the state line for $175k last year. It's now appraising at $252k. No curb appeal or landscaping work, although we have done a lot of interior work.

New houses in this BOOMING area are going for $350 and up. BUT, you can still get in a home WITH land here for between $150-300 and get a good deal. The commute rots, though.

~phos

Well, the good thing is we have a nice home we bought years ago when the prices were a bit more affordable. Actually, I love this home and would be perfectly content living here forever--it's my husband that would like to move. He wants a bigger home with more land (for what exactly, I don't know :p )...

He wants a bigger home with more land (for what exactly, I don't know :p )...

An ATV? A ride on MOWER? Isn't a fair stereo-type of men that they enjoy going out in the "yard" and riding on their John Deere mowers drinkin' a brewski? LOL!
~phos

lol

:D

Kidding aside, he says he'd like to have at least 3 acres...

Olympia, Washington, everything went up 20-30% over the last 2 years.
My house is 1300sq feet and went for 180K last year. It apraised now for over 200K

Here in Vancouver a 600 square foot condo is $100-200 K.

I love Vancouver SOOOO much. The town is beautiful and the restaurants are great!!!
I was talking about moving there yesterday with my YM. It look so expensive though.

Thanks, chouchoute! It is kind of expensive, but you can get around it by living in a suburb. :) Sort of. :D

of home ownership is just about over. I donot know how anyone can buy a home and not have a double income, and then some! This housing "bubble" has gone up everywhere, but here in FLorida.... it is BAD. I read in West Palm a man bought his home in 1990 and just sold it at 600% profit! Everything Thesedays has said is correct. My neighbor bought and sold a beachside lot in the 80's and made a 17K profit (28-45K). NOW you cannot get one for under 250K! No one can explain except for low interest rates and "greed" and it being a buyers market as there is no more real land where I live beachside. BUT even new housing developments are going up starting at 200k! How can people afford that as a starter home?? Esp. since the average salary is 30K here! I feel like I am trapped. I bought cheaply and my home has appreciated 4 fold in 6 years, but I am rich only on paper. I cannot sell, as I could never afford another home like I have now. AND I am really contemplating moving to Serbia, but I would have to sell this...and if it doesn 't work over there, I would come back to NOTHING! I am sooo frustrated... PLUS I even cannot understand how people can buy anything over there, as the ave. income is 250 per month, yet flats sell for 55-90k! It is all unbelievable.... and don't even talk to me about what I read about CA and MA and surrounding areas!! MADNESS!!

OH.. and the big thing here too is turnng CRUMMY apts in condo's starting at 150K!~ Where the heck are middle class people going to live..... I am REALLY scared for my children.

of home ownership is just about over.

Not true at all...it totally does depend on location.

The cities you all are describing, yes, are ridiculously high-priced. New York, Boston, San Fran, Honolulu...fuhgeddaboudit. And lots of other places where people flock.

But here where we live, you can spend anywhere from say, $45K on up into the millions - but average home price is under $190K. The neighborhoods here are all over the map, from inner city rundown slummy places to very livable older suburbs, to tons of farm tracts converted to McMansion farms.

Having lived in Boston myself for over 20 years, I can say that the adjustment to a far less bustling or fashionable city wasn't that bad. There's still more here to do than *I* ever have time for. ;P

Believe me, there is still a TON of opportunity for very reasonable homeownership - if you're willing to live in a reasonably no-name part of the country. Heh.

True ..........but not true !! ha ha ha .........I live in Central Florida, but a very small town in Central Florida ............Titusville .......every city in Brevard county ....Titusville, Cocoa, Merritt Island, Cocoa Beach, Cape Canaveral, Melbourne, Melbourne Beach, Satellite Beach, Indialantic ........you can drive through ALL of these cities ............from one end of the county to the other in about 45 minutes !!!!

We are not a major city .......nothing going on here .........one small mall, etc yet the average person can not afford a home here.

Even the extremely small apartments they are turning into condos to sell are selling for about 150,000 (2bd / 1 ba 600 - 800 sq ft) .........if you're a family w/children how will you fit in here? Also ........on top of the 150,000 to buy ......the average "home owners" fees for these spaces are around $115 - 150 per month on top of your monthly mortgage payment.

I guess, people could pack up and leave an area they've always lived in hopes of getting a job in another area (outside florida) and then look for a job.

But the fact is they shouldn't have to ..............the exact sames house were selling for UNDER 100,000 just 2 years ago.

I know several people who are renting, and their rent payment is over $1,000 per month ..........they can't buy because they can't get financed on the high price of the homes, even though they could actually afford the monthly payment.

It's just horrible !!

North Dakota, 2200 sq. feet, $75,000.00. Houses still aren't too bad here, but, the other end of the spectrum is that there's few people, no work, the winters are harsh, and you have to drive 50 miles to really get anywhere. The closer you get to Fargo, though, the pricier the homes, of course, so it's only a matter of time before those prices start trickling out to the outter limits.

Thesedays, I wasn't saying that EVERY no-name place was affordable. I was saying that IF you want an affordable place, it will be A no-name place.

And, there is in fact a HUGE abundance of sheer open land in this country. Guess what...even in NEW JERSEY - probably THE densest populated state in the nation. It is just that in pinpoints of super-density, and to a certain radius around them, prices are sky-high. To those in those places, things feel unaffordable, but it is just not true everywhere. We are a mosaic of highly differing population densities and real estate demands in a very big country.

The terrain in an area can also put it in high demand. Waterfront or certain other desirable land types are always more expensive than other kinds, no-name community or not - again because there is demand. Simple economics.

I realize what you were saying Goldie ....that's why I said "true, but not true"

I am in a no-name place ......is what I was trying to say. And it's a shame we'd have to move across the country to afford a house.

On a different note .......the majority of the houses that are selling here are NOT even being bought by locals, but by invenstors outside of the state .......they're even buying multiple houses in new housing communities ........and then just renting them.

I wonder if this is driving up the prices also?

Come to Clinton Country!

The low cost of housing is why I moved around Hot Springs, Arkansas. I have a charming little 1200 sf home on a double corner lot. It has a fireplace & lovely landscaping. I paid $49,000. I'm in an older neighborhood; but it is quiet and I feel safe.

On a different note .......the majority of the houses that are selling here are NOT even being bought by locals, but by invenstors outside of the state .......they're even buying multiple houses in new housing communities ........and then just renting them.

I wonder if this is driving up the prices also?

:)

Not likely. Investors are all about buying LOW and selling/renting at market rate. Rentals bring down property values/area desirability, because many renters tend to be more transient and less careful about property upkeep. Instability keeps some people out of homeownership, but they have to live somewhere, so they rent.

If investors are buying, it must mean they are getting deals on these properties, maybe taking *advantage* of a big spread but it's unlikely that they're contributing to one. This can be due to consumers overbuying in some areas and having to sell low because they bit off more than they could chew. Happens a lot.

Thesedays, I wasn't saying that EVERY no-name place was affordable. I was saying that IF you want an affordable place, it will be A no-name place.

And, there is in fact a HUGE abundance of sheer open land in this country. Guess what...even in NEW JERSEY - probably THE densest populated state in the nation. It is just that in pinpoints of super-density, and to a certain radius around them, prices are sky-high. To those in those places, things feel unaffordable, but it is just not true everywhere. We are a mosaic of highly differing population densities and real estate demands in a very big country.

The terrain in an area can also put it in high demand. Waterfront or certain other desirable land types are always more expensive than other kinds, no-name community or not - again because there is demand. Simple economics.


Yeah you are right there are probably two places in NJ where homes are still affordable

Sussex County...the most north west county and Cumberland/Salem county...the most southwest....but the problem is no one wants to live there unless they were born there really. a lot of woods. no real malls. no nightlife. people have to be willing to give up some conviences if they wanna live in cheaper homes.

Oh, I have to jump in on this one, lol. I am a realtor and mortgage broker in the West Palm Beach area of Florida and I have been tracking all sorts of prices in all areas of the country.

First, South Florida is supposed to be one of THE most outrageously difficult areas to get decent housing for a decent price (after California of course), but I can still show you some very nice 3/2/2 even's for right around 300,000 close to the West Palm Beach area. Additionally, if you were willing to go with pre-construction (which I deal with often), you can get in on the pre-construction pricing which is very reasonable depending if you are speaking about a single family, townhome or condo. Here in the West Palm Beach area, we are dealing more with people wanting to move into the city where they have everything at their fingertips ... work, fine restaurants, shopping of every sort, as well as cultural events. That's the trend in South Florida right now.

But there are still some very good deals to be had in the suburbs. For instance, I know you can purchase a 2000-2500 and maybe larger home out in our Acreage for under $200,000 and lower, and lots are still reasonable there ... and they are large ... at least an acre ... IN South Florida. So going west from wherever is still more reasonable.

I know that the west coast is just now beginning to boom, so there area some great deals there, and northwards to Vero Beach and Orlando still have some very very good deals. In fact, I was trying to sell this great 3/2/2 on a fairly large lake, brand new home in a gated community, 2308 sq. ft., near everything for 300,000!

I guess I'm saying that there are still "pockets" where you can get a great deal. Even in West Palm Beach, where prices are supposed to be out of this world, I was just showing a pre-construction 4/2.5/2 home on a decent piece of land, on a cul de sac, in a gated community, with a delivery date of March 2006, for 429,900, and a 5/3.5/2 for 479,900. In our Sunday paper, they are still selling very nice resale homes, 3/2/2s for under 300,000 easy, and in fairly nice neighborhoods.

I know my son just built a home in Alexandria, Virginia for 750,000 on a smaller lot, but has like over 3,000 sq. ft. to work with. It's lovely. AND, I found him a great loan where he actually pays less than 2,000/month for his mortgage, insurance AND taxes. So there are ways around everything ... it just sometimes takes a little bit of work, or working with a professional who can direct you properly.

Forgot who talked about location, but that really is an important key. This other is knowing the market. There IS no bubble here in West Palm Beach and southward, and even northward for some miles. After FOUR hurricanes last year, we still have people coming in droves to purchase property. And it shows no sign of slowing as the builders continue to buy up even small parcels of land to build townhomes and/or condo's on as soon as they can put that ole permit into the city/county.

So, again, I guess I just had to comment on the real estate market ... I know Las Vegas is booming, as well as California being totally out of control (my son has a friend who purchased there and I won't even tell you what he got for his money). I was born and raised in the northeast, Connecticut in fact, so I keep track of that as well, and that is also booming with prices going up, but still has pockets of good deals now and again (my daughter just bought a decent size 3/2/2 in a country-like setting for around 250,000 in Connecticut).

I will stop now, lol, though I could go on ... but all in all, we are having to face some challenges in the real estate market as you all have attested to ... but we can be careful where/when and how we purchase ... and could ultimately end up making money ... even. The pre-construction market with assignable contracts is a great way to make money. But then that's another topic altogether. :)

Princessdy

InYourEyes -

Yes, that's exactly it. We do have to give up certain things for affordable real estate. But some people will NOT. It depends on your priorities. Believe me, I was real skeptical about moving here from Boston, but it's turned out ok because I didn't give up *everything*. And in fact, other things I have totally GAINED. Because to live in Boston, there were other things I had to give up! A real tradeoff there.

What I was referring to in New Jersey though wasn't affordable housing, but actual empty land. There is a lot of it! It just isn't near any desirable metro areas, and that's the trouble. ;)

I'm sure it will still mostly be blanketed with McMansions in the next quarter century though, because builders have to build somewhere they can afford to. It would be so cool to have NEW cities grow, instead of just trying to jam into the existing ones! What an idea eh? Heh. (oh...and I DON'T mean like "Celebration"...*shudder*)

(Hmm...how many Realtors have we got here anyway? More than I thought...maybe we should put up a new poll. Heheheh.)

This is exactly our gripe in finding a home. No matter where you go the prices are terrible unless you look in out of the way areas where jobs are as hard to find as the proverbial needle in the haystack. :(

My boyfriend, Dereck, just made a delivery a few weeks ago (he works for a lumberyard company) to a new housing development near Seattle where the cheapest house was going for 1.2 million!!! :eek:

It's all about location.....in Santa Barbara, CA you can expect to pay around 1,200,000. for a decent home. The same home in Visalia, CA would go for 120,000. We bought our townhome for 420,000 a year ago, and now it would probably sell for 580,000; 2/2 townhome. It's crazy expensive here, but look what you get. All you have to do is walk out side and you know it's worth it.

BellaLove, I totally hear what you are saying. Stuff here is so expensive because everyone wants to live here! After the stupid surveys that keep coming out saying this is the most livable city (or in the top 3) in the world, and also due to the 2010 olympic thing being here, it seems like everyone wants to move here!! I can see why, as this is a really nice city... but... the job situation here isn't great. It's really not. And there are a lot of millionaires from other countries here buying homes. That drives me crazy!! I can't get over how hard it is. Right now, I honestly can't ever see myself being able to afford a house, so I guess I'm stuck with my wee tiny condo for now.

Average Home Price...nothing fancy...$450,000 and up.

That's outside of Boston btw. Within the city...errr...well, forget it...HIGH! :eek:


Its expensive to live in New England really... I know Kathy is right it's 450,000 or better for an average home now.. You can find some at 350,000 or so but nothin more...

I live in NH which is a little more inexpensive... I have a fixer upper... but nothing drastic... On just under an acre of land 3 bedroom split entry ranch with a finished basement , pool, for 228,000. but our property taxes here are REALLY high my taxes are like 5000.00 a year.... but NO sales tax in NH.....but now it's risen in like 6 months now my house I could get for at least 30,000 more than what I payed :)

InYourEyes -

Yes, that's exactly it. We do have to give up certain things for affordable real estate. But some people will NOT. It depends on your priorities. Believe me, I was real skeptical about moving here from Boston, but it's turned out ok because I didn't give up *everything*. And in fact, other things I have totally GAINED. Because to live in Boston, there were other things I had to give up! A real tradeoff there.

What I was referring to in New Jersey though wasn't affordable housing, but actual empty land. There is a lot of it! It just isn't near any desirable metro areas, and that's the trouble. ;)

I'm sure it will still mostly be blanketed with McMansions in the next quarter century though, because builders have to build somewhere they can afford to. It would be so cool to have NEW cities grow, instead of just trying to jam into the existing ones! What an idea eh? Heh. (oh...and I DON'T mean like "Celebration"...*shudder*)

(Hmm...how many Realtors have we got here anyway? More than I thought...maybe we should put up a new poll. Heheheh.)

I have worked in the nightlife industry, worked in the media industry and am on the road to having perminant career in public relations/media...so i basically have no choice. i have left the NYC burbs...i still am there for school....but my parents are in the philly burbs and my boyfriend in the trenton burbs. I have to be at least near trenton or philly for my career so it sux. i can't picture myself in the country though...i am a shop a loic and i dont really like woods.