around here a brand new(nice area) 3br/2bth homes starts at ~370k
and its still going up

back in '02 the same home sold for 200k

whats it like in your hood? i'd like to hear about new developments mostly but old homes are ok too

 

The one new development theyre building in my area starts at $280 and up. Theres another one that's starting in the $400s.

 

two homes just sold for $1.5M, but they're both 3000sq ft+ h:

 

it's fawkin great! :sarcasm:

let's see my hosue originally sold for 380K 8 years ago. original owner sold it for $450 1.5years later then the second owners sold it for $580 2 year later. currently it's valued at 830K+


new developments are crazy right now. smallest one 1 story 2400sq/ft with 2 car garage starts at 900K. this sucks because I really want to/need to buy a second house and I want to buy in the same area but I can't afford to do it

Oh and there are at least 12 new developments and 12 or so coming soon.

I've also given up looking for condos because they start at $500K and that's not worth it for me. I may end up buying a house in LA but LA is fuggin huge and I don't know which area I want to buy in... yet.

 

Last time I visited my parents in the MD suburbs of DC there was a new townhouse development that had a sign saying starting at 2800 sq ft and $785k. Certain desirable areas in and around DC area are gettin kind of ridiculously expensive.

Here in Madison stuff is cheap. 3000 sq ft for like $250k, or probably double that if it's lakefront property. I still don't plan to settle down here though. I'll just stay until I have enough money in the bank to afford living around DC.

 

are they doing that "owner occupied" clause there too?

 

Insane in my area. 3br2ba goes for $700-1.3M depending upon which area. Prices appreciated 20% last year alone. This can't continue, but demand is so high (actually inventory is low) that prices will stay elevated unless some major disastor happens.

 

3-4 bd new home here runs about 200-250k here.



*edit* my brotherinlaw was telling me that a bunch of people from the bay area were selling thier 800k+ homes and coming down here and buying 2-3 homes and living in one and living off the other homes rents.

 

yep and you can't sell for at least 2 years. which i think is fine with most people with the cap. gain tax and all.

 

around here its mostly just 1 year owner occupied. homes are still cheap enough to use as rentals around here :rick: