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Re: Housing Prices Mystify The Mystic
Old 09-01-2006, 11:00 AM   #21
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Re: Housing Prices Mystify The Mystic

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Originally Posted by IntoTheMystic
Earlier this year we sold a 1921 cottage in Glendale, Ca. - 696 sq. ft. .05 acre. 1 bedroom 1 bath as is for $365K It was a rental for years and needed about $30k work. It is not a nice neighborhood. Place was firebombed 10 years ago by gangbangers.

The new owner remodeled it and now 6 months later just sold it for $475k!


Wow!* You would'nt have a picture of that cottage, would you?* I'd love to see what a $524/sqft, 85 year old cottage look like.

And why would a 696 sqft cottage need $30K work?* Would it cost about the same to build new?


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Re: Housing Prices Mystify The Mystic
Old 09-01-2006, 11:16 AM   #22
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Re: Housing Prices Mystify The Mystic

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Originally Posted by SteveR
I spent a lot of time in CA over the years on business.* I turned down more jobs that I can count in the San Jose-LA-San Diego area over the past 10 years.* I am not attracted to the crowded freeways, crowded beaches, high cost of living, high taxes, out landish real estate prices and over crowded housing areas.*

I also don't want to deal with northern IL winters anymore either.* Or the sizzling humid summers in the deep south...or the blazing heat (but it's a dry heat* :) of the southwest.* We prefer the mild winters of the intermountain west.* We get 4 full seasons.* Colorful falls, snow but not so cold winters, cool springs, and hot but not too hot but dry summers (very few bugs* ).* You don't see chick with thongs and there are no beaches but I am 15 minutes from 4 major ski resorts and I can golf 10 months of the year plus hiking, trout fishing, camping, sailing, powerboating, etc. all in less than an hour from my house.* Also, there are over 7 National parks within an easy days drive from here.*

Sure I have some "church-state" issues to deal with and an ultra conservative government but the good stuff outweighs the bad.*

Housing is cheaper, utilities are cheaper, we get CA fruits and vegatables, KS steaks, AK salmon and crab and the internet provides the means to buy stuff at Fry's or anywhere else for good electronics prices.* I don't feel the need to move to CA and pay out the nose for the experience.* And my net worth is all the better for not funding the social programs in that state.*

We all have our priorities and mine does not include CA as a place to live.* If you like it there then by all means stay; it is all about what we want and need in our lives.* Do what works for you.
And where is this nirvana??
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Re: Housing Prices Mystify The Mystic
Old 09-01-2006, 12:25 PM   #23
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Re: Housing Prices Mystify The Mystic

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Bigger the cushion, softer the pushin'....

Ha
there's a bag of flour thought here...
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Re: Housing Prices Mystify The Mystic
Old 09-01-2006, 01:12 PM   #24
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Re: Housing Prices Mystify The Mystic

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Originally Posted by Texas Proud
And where is this nirvana??
Salt Lake City......not exactly nirvan (unless you are LDS; but it meets our needs).
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Re: Housing Prices Mystify The Mystic
Old 09-01-2006, 03:54 PM   #25
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Re: Housing Prices Mystify The Mystic

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Originally Posted by Sam


Wow! You would'nt have a picture of that cottage, would you? I'd love to see what a $524/sqft, 85 year old cottage look like.And why would a 696 sqft cottage need $30K work? Would it cost about the same to build new? Huh

[img width=750 height=473]http://i15.photobucket.com/albums/a351/DanTien/Acaciahouse.jpg[/img]
Big time termite damage...dry rot...replace entire electric & plumbing...new flooring...carpet....paint...etc.

Oh, by the way the price per sq ft. for the followup sale at $475k = $682.50

it's wedged in between 2 apartment buildings so that most likely held the price down....
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Re: Housing Prices Mystify The Mystic
Old 09-01-2006, 03:57 PM   #26
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Re: Housing Prices Mystify The Mystic

Thanks for the picture. Quite an eye opener!
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Re: Housing Prices Mystify The Mystic
Old 09-01-2006, 05:15 PM   #27
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Re: Housing Prices Mystify The Mystic

Mystic - what did you sell it for?
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Re: Housing Prices Mystify TheMystic
Old 09-01-2006, 05:26 PM   #28
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Re: Housing Prices Mystify TheMystic

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Originally Posted by macdaddy
Mystic - what did you sell it for?
It was going to be 395k minus about $30k repairs - but buyer offered $365 in as is condition so since we were in a rush we took the money and ran....the new owner's monthly payment plus insurance and property taxes must be around $3k a month....if we had been patient and waited til summer and had undertaken the repairs we would have done better but we didn't expect it go much higher :

I can't believe the people that bought in August for $475k will see the value increase, but I have been wrong before haven't I?
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Re: Housing Prices Mystify The Mystic
Old 09-01-2006, 08:52 PM   #29
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Re: Housing Prices Mystify The Mystic

Quote:
Originally Posted by IntoTheMystic
...with global warming, Minnesota winters haven't been what they used to be, unfortunately. Besides with winter you learn to be strong to not be a weinie....
Yeh, but we're nicely tanned weanies!
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Re: Housing Prices Mystify TheMystic
Old 09-01-2006, 09:05 PM   #30
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Re: Housing Prices Mystify TheMystic

The ethnic food is a result not a cause of population growth in CA. CA has had a net out migration to other states in the US for years for the reasons brought up in above posts. But there has been a large in migration from foreign countries. Maybe if you are coming from Hong Kong or Mombai or Seoul, CA doesn't seem so crowded?
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Re: Housing Prices Mystify The Mystic
Old 09-01-2006, 09:08 PM   #31
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Re: Housing Prices Mystify The Mystic

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Originally Posted by Sam
Thanks for the picture. Quite an eye opener!
This is California!! Crackpipe real estate at it's finest. Look at this 3 bedroom, 2 bathroom beauty with a sales price of $730,000, 10 minutes from downtown San Francisco.
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Re: Housing Prices Mystify TheMystic
Old 09-01-2006, 09:34 PM   #32
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Re: Housing Prices Mystify TheMystic

Location, Location, Location.....
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Re: Housing Prices Mystify The Mystic
Old 09-02-2006, 02:14 AM   #33
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Re: Housing Prices Mystify The Mystic

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Originally Posted by youbet
Hey........ if you can breath the air in LA and live to tell about it, you can survive a little tainted tuna hotdish in Minnestoa! .... But tuna hotdish.......that I gotta drive up to minnesota to get!
I grew-up in Illinois...when money was tight good all Mom would whip up some tuna hot dish with potato chips stuck in the crust..she was a saint, which is appropriate since her family had a bona fide saint in the famalia....when times were a bit tougher we got to eat SOS an interesting meal..a bit above dog food, so we could keep our pride....I recommend it to anyone really really motivated to ER...
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Re: Housing Prices Mystify TheMystic
Old 09-02-2006, 07:37 AM   #34
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Re: Housing Prices Mystify TheMystic

California is bad bad bad. I recommend everyone stay away.
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Re: Housing Prices Mystify The Mystic
Old 09-02-2006, 08:54 AM   #35
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Re: Housing Prices Mystify The Mystic

Quote:
Originally Posted by IntoTheMystic
I grew-up in Illinois...when money was tight good all Mom would whip up some tuna hot dish with potato chips stuck in the crust..she was a saint, which is appropriate since her family had a bona fide saint in the famalia....when times were a bit tougher we got to eat SOS an interesting meal..a bit above dog food, so we could keep our pride....I recommend it to anyone really really motivated to ER...
South side of Chicago. We were never broke, but tuna casserole and chipped beef on toast (the proper, high-brow names 8)) made regular appearances. I liked them then, but haven't tried them in a long, long time.
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Re: Housing Prices Mystify The Mystic
Old 09-02-2006, 09:25 AM   #36
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Re: Housing Prices Mystify The Mystic

Quote:
Originally Posted by cube_rat
This is California!!* Crackpipe real estate at it's finest.* Look at this 3 bedroom, 2 bathroom beauty with a sales price of $730,000, 10 minutes from downtown San Francisco.
Thank god I'm in Houston.* That beauty would have a hard time getting sold here for 1/10th of that price.
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Re: Housing Prices Mystify TheMystic
Old 09-02-2006, 11:52 AM   #37
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Re: Housing Prices Mystify TheMystic

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California is bad bad bad.* I recommend everyone stay away.*
Nice try. But I think it's too late.
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Re: Housing Prices Mystify TheMystic
Old 09-02-2006, 12:13 PM   #38
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Re: Housing Prices Mystify TheMystic

House prices in California can get crazy. In anticipation of retiring in the next year or two with a kid currently in high school I went to my credit union to set up a home loan line of credit. They did some kind of quick appraisal and said my Pasadena 1000 sq ft 2 BD 1 BA was worth $525K. For a moment I paused and really wanted to say, hey, forget the loan, just write a check out for that amount and its yours.

I expect prices will fall or just stay the same for a while. California property prices certainly have gone up and down a lot in the 25 years I have been here. As we will probably live here for at least several years more I just don't worry about it.
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Re: Housing Prices Mystify TheMystic
Old 09-02-2006, 12:41 PM   #39
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Re: Housing Prices Mystify TheMystic

The San Francisco area is long overdue for a major ass kicking market correction. When I saw my brother's new fix-upper (note: fixer upper is an understatement. The old house needs to torn down and replaced :P) that he paid 1.8 million for, I just about fainted.

I have noticed that quite a few houses in my area for sale that are just not moving. It's been six months on the market for four very nice homes that I could think of right now.
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Re: Housing Prices Mystify TheMystic
Old 09-02-2006, 08:48 PM   #40
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Re: Housing Prices Mystify TheMystic

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Originally Posted by yakers
They did some kind of quick appraisal and said my Pasadena 1000 sq ft 2 BD 1 BA was worth $525K. For a moment I paused and really wanted to say, hey, forget the loan, just write a check out for that amount and its yours.
So, why didn't you?
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