Housing Costs....whats the range?

Bigprairie1 · Aug 27, 2007

I would like to query whoever wants to give some feedback on this subject. What is the average cost of a house in your area...say an average 3 bdrm/2 bath single family dwelling?
Why? well in reading one of the previous threads that addressed the fall of real estate values I've got to say we are currently suffering from the opposite right now.
The prices just are not slowing down much...and its starting to kill the market for any younger buyers having a hope of ever owning their own home.
The average cost in our area is now just over $500k...its getting ridiculous.
We own a home but that doesn't necessarily mean much unless we intended to sell it...which at the moment we don't.
So lets hear some feedback on this....what kind of house prices are out there right now? Hopefully there are a couple of rays of sunshine to offset whats going on around here.
BP1

Rev. · Aug 27, 2007

Re: Housing Costs....whats the range?

well big, not sure where your from, but here in oklahoma, real estate isn't too bad. my brother builds houses, he just finished a 3bed, 2 bath, 2 car garage and sold it for 130 to some people from arizona. but on the other hand, my boss's wife just got back from alaska and said she paid 75 dollars for a bucket of KFC. quite a difference in pricing if you ask me. oklahoma KFC bucket is like 14 or 15 dollars. all depends on the labor rate.

QC · Aug 27, 2007

Re: Housing Costs....whats the range?

I think for what you describe our prices are pretty similar. For the heck of it I checked around Houston and for 1/2 the price of our house here we could have the same size (2600 SF) Lakefront. If you could find a lake, that would be $2 Million here

They're over $1M for Lakefront 40 miles further out.

rob711 · Aug 27, 2007

Re: Housing Costs....whats the range?

i have a small cape in a good area on long island...it could be called a 4 bedroom..but the 2 upstairs are tiny..one bathroom ,master bedrood is 12x12..kitchen living room and office (bedroom)..my lot is 60feet by 90..cost 2 years ago ....390,000..i was born and raised on long island but cant help to think we would do better elsewhere..i see those flip this house shows and see what u can get for say 200 in other parts of the country and it makes me sick...this should be a good thread....like the "where should i move" one from a couple of weeks back...75bucks for kfc

Rev. · Aug 27, 2007

Re: Housing Costs....whats the range?

the last house i had before i moved here, (still on lake hudson) was approx. 100 ft. from the boat dock. 4 bd, 3 bth, gameroom, 2 car garage, huge lot, I paid 103 for it, got divorced and sold it for 175, which was still a great buy, should have kept it, huh?

Bondo · Aug 27, 2007

Re: Housing Costs....whats the range?

Ayuh,......... With the Ft. Drum expansion going on,+ even with many of the troops deployed,....
Jefferson County has finally arived into the same world as the rest of the USA......

5, 6 years ago,...... You could find a 3 bedroom, 1,+ 1/2 bath, on an acre for $50,000.........
In the last couple years they're up to $130,000. to $150,000.....

I grabbed the 2 in the center for $50,000. each 2 years ago,....
And, $500, for the houseboat a year later.......

Bart Sr. · Aug 27, 2007

Re: Housing Costs....whats the range?

Here in Small Town Central Minnesota our 4 bedroom,2 bath, split entry,corner lot,2 car attached garage,paved circular driveway,.5 acre lot on a County Road that is 1/4 mile from a State Highway in one direction and 5 miles from an Interstate Highway in another is ASSESSED at 225K but I think we will be LUCKY to get 200K.

We have had it up for sale for over a month and have ZERO lookers.

The SMALLEST room in the house is 12'X12'.

There are a few houses in this area that have been on the market for over a year.

Rev. · Aug 27, 2007

Re: Housing Costs....whats the range?

hell of a deal, guess if I ever come to NY I'll have a place to stay, lol

Bob_VT · Aug 27, 2007

Re: Housing Costs....whats the range?

Here in VT depending on the town the average is 175-200K and in a city 149-169K out in my "rural" area houses in my town range from 130k up 1.2 mil.... my old farmhouse sits on 2 -1/2 acres and it is 2500 sq ft of living space (finished) with an additional 1150 in my attic (10' ceiling) that is unfinished. Typical farmhouse with a dirt floor basement and all my rooms are 14' x 14 or larger. If I could pull the tax assessment I would sell sell sell!

Of course we are expecting our first frost next week (usually 1st week of Sep) followed very shortly by our "cooler period" which lasts until late April early May (which equals our heating season).

KFC is still cheap here if you eat that stuff.... Most jobs have low low wages.

Nothing in the terms of utilities from the town.... well water (when it works

) septic tanks, gravel driveway and dam dark at night!

However...... I love it.

studlymandingo · Aug 27, 2007

Re: Housing Costs....whats the range?

Market is definitely down here. Even still, a 3/2 in a good area is in the mid 300s in town. Get near the beaches or the water anywhere and forget it; approaching 1m for a modest place.

I'm in the business, and we are hurting right now; hard for people to get a mortgage right now.

Haut Medoc · Aug 27, 2007

Re: Housing Costs....whats the range?

3 bedrooms, 2.5 baths, 50x150, 1800sf....5 miles from Space Needle.....3 miles from water........500K........

aspeck · Aug 27, 2007

Re: Housing Costs....whats the range?

Around here the average 1800sq ft house would go for about 100K or less. Harder to sell houses over 135K. However, the more expensive houses are being built now, and prices are rising. I put about 250K in my house 3 years ago and a realitor friend tells me if I want to sell now he can get me about 350K.

Bigprairie1 · Aug 27, 2007

Re: Housing Costs....whats the range?

Well QC's numbers are up there...thats more what we are used to (somewhat) up here. Some of the other pricing you guys have posted is still reasonable if not very reasonable.
Bond-o I can't believe you stole those lake front cottages....give 'em back!!. We have a lake about 40 minutes north...nice lake, maybe 7 miles long. Basic cottages on that lake start at about $550-600k.
In my opinion reasonable housing costs for an average 3/2 should be somewhere between $175 to the low $200's. That would be in keeping with the average joe's working wages etc. We have a lot of young professionals that are barely making the mortgage on a condo...with both people working.
Hopefully something will change to return balance to this kind of situation.

jimr · Aug 27, 2007

Re: Housing Costs....whats the range?

Well I bought our house 1180sf on 4 city lots (200x150) it was a 2br 2bath 5 years ago (needed work)now 3 br with an insulated/electric 12x16 shed for $33,000 we have put about $30,000 into it and have more to do. The same house/land about 25 miles away in Stillwater would be up around $100,000. I wish I lived closer to work but at the time it was half way to my work and my wife's.

Scaaty · Aug 27, 2007

Re: Housing Costs....whats the range?

Haut Medoc said:
3 bedrooms, 2.5 baths, 50x150, 1800sf....5 miles from Space Needle.....3 miles from water........500K........

Yep..PNW is like any west coast burb on water...friend just sold a 2 br/no garage/block off the water (south Puget Sound) with good view..street below me...asked $300,000, took $273,000 ..sold 2 weeks..

kenmyfam · Aug 28, 2007

Re: Housing Costs....whats the range?

Around here a 3 bedroom brick raised ranch with double garage and around 3,000 s.f. of living space on a 65 ft X 125 ft lot will run $230,000 to $280,000. On the lake add $100,000. Close enough to walk to the lake, add $20,000

f_inscreenname · Aug 28, 2007

Re: Housing Costs....whats the range?

Bought our 1950's, 3 bedroom, brick town house on a 1/10th of a acre for $80,000 six years ago.
Just sold it last week for $229,900. Lots of improvements but nothing worth that much. It's the whole area.

RubberFrog · Aug 28, 2007

Re: Housing Costs....whats the range?

In my area a 3/2 1200sf fixer upper is going for 500. The median home price is around 600 and a nice home starts at 750.

Haut Medoc · Aug 28, 2007

Re: Housing Costs....whats the range?

RubberFrog said:
In my area a 3/2 1200sf fixer upper is going for 500. The median home price is around 600 and a nice home starts at 750.

Must be all them lobbiests from BIG _______ drivin' up the prices!......

RubberFrog · Aug 28, 2007

Re: Housing Costs....whats the range?

Actually, it's all the beltway bandits figuring out ways to help the governement spend all that money!

Housing Costs....whats the range?

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