home prices

[iraklin]

what do you guys think of the recent boom and bust with home prices? how bad has it affected your guys area? Ive seen some crappy homes
in crappy neighborhoods spike up two times in value about a year or so ago...

[Robinette]

Shouldn't this be a water cooler thread?

[ttocs]

yeah, i agree with the water cooler idea, but house prices have really spiked up in my area too, but I think it is because there is less space to make houses, and the building of houses/existing houses (supply), does not fufill the demand (demand). Basically, it is all about supply and demand

[Caleb the Cruel]

i live in the fastest growing county in the country(Weld,CO)
I moved here in august 2004 and prices for homes were sky high
i moved into a small, pretty crappy house that costed around $152,000
then in june of 2005 i moved to a really nice brand new house that was origianally inteneded to sell for $189,000 but got them to sell it for only $164,000 because house prices had recently fallen
they fell for a few reasons
1. too many houses on the market....everybody was trying to sell their homes because they thought they could get a good profit due to this being the fastest growing area in the nation
2. new sub-divisions being built too quickly....this (along with #1) made the supply of houses too high
3. high gas prices....when the gas prices rose too far, the area's economy slowed a little


the houses to the east and west of me are vacant, and there aren't any houses across the street yet are both for sale and have been for a large amount of time... the one to the west went from $194,000 down to $182,000 and has been on the market for at least 9 months... the one to the east started at $188,000 and is now down to $180,000 plus additional incentives of up to $15,000 to landscape, finish basement, etc...this one has been on the market for around 7 months


so hopefully the demand for new homes will go up even more soon in the area and i'll get some neighbors

[ttocs]

well in your case, you have a lot of houses(supply), and nobody apparently wants to move in(demand), so it all depends on who wants to buy it and how much there is left

[firth4eva]

He's a guest?

[MeDeFe]

I was wondering about the same.

[Skittles!]

Why could a guest post?

[Wisse]

He's a guest?

damn noob, why bump a topic thats a year old...

maybe guest where allowed to post back then??? think just think, its something impossible for you

[misterman10]

Why could a guest post?

Thats seriously the biggest question, how can a guest post

[2dimes]

Is there good neighborhoods at around $160000 for a 3 bedroom bungalow just over 1000 square feet? Somewhere warm prefered.

[Norse]

I cant believe how cheap houses are over north america...

For 160K bucks (80K quid) you couldnt get a delapidated flat in a shit-hole area over here.

[2dimes]

Yeah, Same here, delapitated apartments start at 200000 and a run down 2 bedroom house is 300000+.

[btownmeggy]

Is there good neighborhoods at around $160000 for a 3 bedroom bungalow just over 1000 square feet? Somewhere warm prefered.

In the rural South of the US you could buy such a house for... $30,000. This essentially describes the house I grew up in, now with 5 acres of land around it, valued at about $40,000.

[2dimes]

Is there good neighborhoods at around $160000 for a 3 bedroom bungalow just over 1000 square feet? Somewhere warm prefered.

In the rural South of the US you could buy such a house for... $30,000. This essentially describes the house I grew up in, now with 5 acres of land around it, valued at about $40,000.

I'm liking the sound of this. Can you be a little more specific. "The rural south" sounds like a pretty big area.

[btownmeggy]

Is there good neighborhoods at around $160000 for a 3 bedroom bungalow just over 1000 square feet? Somewhere warm prefered.

In the rural South of the US you could buy such a house for... $30,000. This essentially describes the house I grew up in, now with 5 acres of land around it, valued at about $40,000.

I'm liking the sound of this. Can you be a little more specific. "The rural south" sounds like a pretty big area.

East Texas is where I grew up, but what I'm saying holds true in any unincorporated area or small town with less than, say, 3000 people reasonably far from an interstate or a larger city in Texas, Louisiana, Arkansas, Mississippi, Tennessee, etc...

E.G. Lots homes that fit that description and price range on this page I randomly found in Homer, Louisiana: http://tjre.nwla.mlxchange.com/?Page=155

[Titanic]

I cant believe how cheap houses are over north america...

For 160K bucks (80K quid) you couldnt get a delapidated flat in a shit-hole area over here.

Yer I know, I think the average price for a USA house is half that of ours.

We've been pretty lucky here in that were not going to get the "bust" part in the housing market. London is ridiculously expensive now though, but at least that gives the Northern cities some chance for growth.

[Stopper]

We've been pretty lucky here in that were not going to get the "bust" part in the housing market.

You sound confident about that! I'm surprised that prices have stayed so high, and for so many years, but I wouldn't assume that it'll stay like that for ever.

[Titanic]

We've been pretty lucky here in that were not going to get the "bust" part in the housing market.

You sound confident about that! I'm surprised that prices have stayed so high, and for so many years, but I wouldn't assume that it'll stay like that for ever.

I just agree with the economists who say it wont bust, and the reasons they say it wont. There are economists who say it will, but I think if theres any sign that it will bust that the Bank of England and the Treasury will do damage control or just prevent it totally.

[2dimes]

Hmmm, that does seem to be a ways from the swamps. What's the crime like in places like that? Do we need to get a hand gun for our four year old?

[Harijan]

Hmmm, that does seem to be a ways from the swamps. What's the crime like in places like that? Do we need to get a hand gun for our four year old?

The reason land and homes are so cheap in East Texas (which is only slightly less vague than rural south) is that there is NOTHING THERE!! you will not have a job, or high speed internet, or cable, and you have to dig a hole for your own sceptic.

It sucks.

[btownmeggy]

Hmmm, that does seem to be a ways from the swamps. What's the crime like in places like that? Do we need to get a hand gun for our four year old?

Very low violent crime rates, besides, like, domestic violence. You'll probably have to live in closer proximity to racial minorities than you're used to, but really it's only the white meth addicts that should be of concern.

[2dimes]

That doesn't sound so bad. But I did expect a 3 bedroom 1000 square foot bungalow to have running water and septic. I can bring a skid steer and dig my own though.

[2dimes]

Very low violent crime rates, besides, like, domestic violence. You'll probably have to live in closer proximity to racial minorities than you're used to, but really it's only the white meth addicts that should be of concern.

That sounds perfect, just the wife has to worry about me getting a little drunked up and popping her in the head. If the minorities are mostly africans I usually get along with them quite well. Of course the ones here are either actually from Africa or regular Canadian guys that are darker with curlier hair.

[btownmeggy]

The reason land and homes are so cheap in East Texas (which is only slightly less vague than rural south) is that there is NOTHING THERE!! you will not have a job, or high speed internet, or cable, and you have to dig a hole for your own sceptic.

Yes, yes. Unless you're a forester or in poultry processing, it's very hard to find work. And no, in very many places there's no high speed internet or cable. And well, septic... Each house has its own septic tank. You just have to hire someone to empty it once or twice a year. But if you're in a small town, you'll at least have sewage, if still no high speed internet.