Real Estate on the east coast (west coast, too)

snoopy · Post by **snoopy** » Mon Jun 26, 2006 2:57 pm

It's just insane. I mean, I don't want to wish ill of all the home owners out there, but I hope the market goes through an insane crash in the next couple of years, otherwise I'll have no hope of buying a house until I'm retiring- and then I'll have to use half of my retirement just to pay 20% down. A 20% down payment on the average house these days is about the same as the total value of the house would have been 5 years ago. It's just insane. I looked at monthly payments on a mortgage for an average 3 bedroom house around here (250k-300k), and I almost had a heart attack. It's just insane.

Darktalyn1 · Post by **Darktalyn1** » Mon Jun 26, 2006 3:04 pm

It's true - my fiance and I are beginning to save for a place and it's ridiculous how expensive things are. Even a 1000 square foot condo costs over 200k ... If you want a decent house you better be willing to pay 300k.

I remember when my parents bought their house; it's almost 3000 sq ft and it cost them 160k. This was over ten years ago, though...

Will Robinson · Post by **Will Robinson** » Mon Jun 26, 2006 5:35 pm

I think there will be some regional bubbles bursting over the next few years if things don't change drastically to affect the market on a larger scale.

I have to say it's working pretty good for me right now, we bought a 14x70 mobile home as our first \"house\" which we sold a year and half later for take over the payments. Now granted that's usually not a good thing but the payments were only $233 per month + $90 lot rent so we were living in a new place much nicer than any 2 bedroom apartment just blocks from the beach and during that time we saved our dollars and then bought a condo for $46,000.....five years later sold it for $96,000.....bought a small 3 bedroom 2 bath fixer upper for $144,000 and seven years later it's on the market right now for $344,900.....and we just had our offer of $420,000 accepted on our new dream house....

So let the market crash right AFTER we find a buyer for our house that's for sale

Lothar · Post by **Lothar** » Mon Jun 26, 2006 5:58 pm

Move to somewhere inland... say, Denver... you can buy a NICE big house out there for about $180K, and a mediocre house for $120K.

Stryker · Post by **Stryker** » Mon Jun 26, 2006 6:09 pm

Ottowa, Kansas has 2-story houses with 2.1 baths, 4 bedrooms, ~1500 square feet for about 175k.

Canuck · Post by **Canuck** » Mon Jun 26, 2006 6:47 pm

Phhht $369,000.00 gets you a lot here if you can find one.
http://www.canmorerealestate.com/

Sir Sam II · Post by **Sir Sam II** » Tue Jun 27, 2006 9:22 am

Yea, this is what I'm working with Real Estate My Area
So trying to buy an affordable home on $32k well really $26k after tax annual isn't exactly working out just yet with the present seeing eye.

Verran · Post by **Verran** » Tue Jun 27, 2006 11:30 am

Lothar wrote:Move to somewhere inland... say, Denver... you can buy a NICE big house out there for about $180K, and a mediocre house for $120K.

No, real estate in Denver sucks. A NICE big house for your average family, close enough to Denver for a decent commute, will run you between $300K and $400K.

Foil · Post by **Foil** » Tue Jun 27, 2006 2:10 pm

He's exactly right. Especially compared to the rest of the midwest, real estate in Denver is ridiculous.

My wife and I are planning to move to Denver someday soon, so we've made some comparisons. For the same house that we currently live in (Oklahoma City), it would be about three times that amount in Denver.

But, generally (besides Denver and a couple other places), the statement that real estate is more affordable in the midwest US is correct.

Mobius · Post by **Mobius** » Tue Jun 27, 2006 2:38 pm

720 sq. metres (7750 sq.ft) of land (not even a quarter acre) $175,000.00

227 sq.m house (2443 sq.ft) built with stacked hot-blocks and quad-level mono-pitched roof. $360,000.00

See house here: http://4sure.co.nz/nzonia

Total price: $535,000.00 or thereabouts

Mortgage rate: 7.75 - 8.85%, spread across three parts.

Borrowed amount: $335,000.00
Approximate repayments per month: $2773 over 20 years.

Dedman · Post by **Dedman** » Tue Jun 27, 2006 3:23 pm

You can still get a very nice house for around 200k here in Atlanta.

Lothar · Post by **Lothar** » Tue Jun 27, 2006 6:38 pm

Verran wrote:No, real estate in Denver sucks. A NICE big house for your average family, close enough to Denver for a decent commute, will run you between $300K and $400K.

Really? In my parents' area (southwest Denver) there are plenty of decent-sized homes in the 140-180K range. Granted, they're a bit more than similar houses in Oklahoma City (or in Hillsboro, KS if you're inclined to live there), but nothing compared to houses on either coast.

I also have ulterior motives for trying to convince certain people to move to Denver.

CDN_Merlin · Post by **CDN_Merlin** » Tue Jun 27, 2006 7:16 pm

Ottawa, Canada

Average cost of a 2 bedroom house (semi-detached) $300,000 CDN

Dedman · Post by **Dedman** » Tue Jun 27, 2006 9:04 pm

My Dad's house in San Diego is up for sale if anyone is interested. 5 min from downtown, 1800 square feet two story with full basement. $750,000.

type 32°43'17\"N, 117°7'43\"W into Google earth to see it.

Verran · Post by **Verran** » Tue Jun 27, 2006 9:11 pm

Well in Littleton for about that range you're looking at less than 2000 sq ft / 20 year old fixer upper (*small bedrooms*) - if that's what you're looking for.

Up it to 300-400K and you'll get more sq ft, newer, middle class homes. In NE Indiana (family is there), and other affordable areas/states, you can get houses like this for around or less than 200K.

VonVulcan · Post by **VonVulcan** » Tue Jun 27, 2006 10:19 pm

Well, think about it, your folks or grandparents probably didnt start out with a \"Nice\" 3 bedroom 1500 SF \"Starter house\" like you guys are lookin at... When my Dad got his first house at 38, he was makin $.50 an hour... the average \"starter house\" was outta his reach also. He made sacrifices. Things are not so much different now. Just the numbers are bigger all around.

Dakatsu · Post by **Dakatsu** » Tue Jun 27, 2006 10:31 pm

In Florida, with all these New Yorkers and old people coming down, a crappy house goes for about 500k! Ours is worth 600k nowadays, a two bedroom, two bath one story home.

Isaac · Post by **Isaac** » Tue Jun 27, 2006 10:55 pm

yeah i only rent but it's gone from 480 to 510 a month in one year for a one bedroom...

Dakatsu · Post by **Dakatsu** » Tue Jun 27, 2006 11:20 pm

Ebay is your friend:
http://cgi.ebay.com/Amazing-Spanish-Sty ... dZViewItem