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We are looking to buy (and have been for a while) but we now may wait until the housing market levels off or there's a crash. It's WHEN it will crash not IF because the economy simply can't sustain these current prices to keep skyrocketing.
People in Calif are selling 600-800K homes and buying ones here cheaper. Yet here it's outrageous itself! We've lived in this area 3 yrs and have seen homes go from $190K to $320K. If we could have forseen this insanity we coulda bought 4 yrs ago and made over $200K in profit!
THIS IS DESERT PROPERTY FOLKS! Not lakefront or anything else. But it's a hotspot now for people (mostly retirees or Californians) to move to. The same thing is happening in Albuquerque, NM. We just made a house-hunting trip there. Everyone wants to move to this southwest climate. I can't blame them but jeeeeeeez.
Yup .. homes in GA, TN, AL, TX are remaining pretty stable. And we're considering that except for the hellacious humidity.
The house across the street was at $400K a few months back but no sale. I see it's now at $385K. So maybe reality is beginning and we should wait until they become reasonable. At leasst for the southwest.
Lori Michaelson
Age - 41
C4/5 complete quad, 26 years post
Tucson, AZ
-------Original Message-------
Date: 10/09/05 18:14:48
Subject: Re: [QUAD-L] Re: How far to travel in w/c
Was just looking at the listing on the home, it is a pretty home but the price WOW.
When I lived in Md, I saw the property values go up in a matter of 5 yrs. The home I lived in was built in 1909, my grandparents purchased it for 4000.00, in 2003 before I sold it the house appraised for 257,000.
In Georgia the property values are still affordable. We purchased 2.79 acres and had a 2005 modular placed. It is comparable in size to the one listed in AZ. We have 2560 sq. ft,( 5bd room, formal living room w/stone fireplace, large kitchen, dinning room, laundry room and family room, and 3 full bathrooms) we had one of the bedrooms converted into an office with a built in desk unit , the master BD's bath has separate shower and garden tub . Sliding doors from the dinning area that open out to a 12X 20 deck. Everything, land included did not cost us 1/3 of the asking price for the one in the listing. I find it amazing that we all ( for the most part) live in the same country, but pricing is so different from area to area.
Just wondering what the housing costs are in other area's
Penny
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