The amazing variance in the cost of housing...

[VanWinkle]

I live in Illinois just outside St Louis and a 1750 square foot ranch built is 2011 with 3 bedrooms and 2 1/2 baths is valued at about 230,000 with 3/4 acre lot. property taxes here are stifling also at 5500 per year. People complain about a 2% deductible on their homeowners policy and then pay that much in taxes every year without a whimper.

[ugeauxgirl]

We live in a rural area of Alabama. About an hour from the beach, 30 minutes from big box stores and shopping centers- anything you need really. Necessities within 5 miles. I looked up a house like yours and it would sell for about $300K in very nice condition/nice neighborhood. Property taxes about $700. Prices go up gradually as you get closer to the beach, but still pretty reasonable. We live a bit further in the woods- more property and a bit less square footage and our house would sell for that, or a little less. The winters are lovely but the summers can be miserable. I might live somewhere else, but it would probably still be in the South.

[Chuckanut]

Quote:

Originally Posted by SonofCohoes Need a big fence, deer real thick out there.

Jobs and salaries drive home prices. It's a nice house but I am guessing that most people, even college graduates, won't be making 6 figure salaries in their first few years of work. I they were making that kind of money that house would be 300K+.

There have been several articles in CA newspapers and websites about people bailing out of CA to find a lower cost of living in other parts of the country.

A good friend who recently retired (well, he still works an optional part-time job) wants to buy a home. He found some in Arkansas that he and his wife can afford on their retirement income. 2000 sq feet, 3 bed, 2 bath, 2 car garage, 1/4 acre = approx $210,000.

[braumeister]

I was looking at the title of this thread and thought of the house I grew up in.

3BR, 2B frame house, 1,240 sf, built in 1925 on a 1,800 sf lot.
My parents bought it in 1948 for $10K and sold it in 1972 for $60K.
Last sale was in 2008 for $350K and Zillow estimates it now at $470K.

While I was growing up there was only one bathroom, and no insulation in the walls. Single pane glass windows. Sewers only came to the neighborhood when I was halfway through high school.

Amazing variance? You bet!

[Bamaman]

NW Alabama-:3 bedrooms, 3 full baths and 2620 square feet upstairs. 9-10 foot ceilings and a oversized double car garage. Basement is another 2620 square feet with 2 bedrooms, 2 full baths and another double car garage. Man cave is 26' X 47' with 10 ft.ceilings and trimmed out like upstairs. $298k. Taxes are about $1700.

Houses on the street are up to 10,500 square feet and lots are 150' X 220'.

[harley]

Quote:

Originally Posted by VanWinkle I live in Illinois just outside St Louis and a 1750 square foot ranch built is 2011 with 3 bedrooms and 2 1/2 baths is valued at about 230,000 with 3/4 acre lot. property taxes here are stifling also at 5500 per year. People complain about a 2% deductible on their homeowners policy and then pay that much in taxes every year without a whimper.

I know a fair number of Illini and most of them spend a lot of time whimpering.

[Oma_here]

So this thread had me curious and I looked up the estimated value of my, quite old, 1300sqf condo. I looked at both Redfin and Zillow, and I threw up a little: the low price of their ranges was $750k with a high of $950k. Who can afford that?

I'll join the poster who said thank you for prop 13

[aaronc879]

Here in small town Wisconsin you can get a 3bd/2ba for anywhere from low $100,000's to upper $200,000's depending on quality. There is a place near me for $149,000 that is quite nice. If you want some land there is a very nice place a few miles away on over 3 acres for $275,000. Low crime and very good schools. Very cold over half the year and humid during the summer with lots of bugs.

[MichaelB]

Quote:

Originally Posted by harley I know a fair number of Illini and most of them spend a lot of time whimpering.

That's 'cause their sports teams are losers and the weather sucks ..

[RobbieB]

1400 sq-ft ranch on a 7000 sq-ft lot, a Kaufman & Broad econo tract house in the Central Valley, $450K

[Mr._Graybeard]

This thread suggests to me that, outside of the coasts, housing prices are really pretty consistent.

[aaronc879]

Quote:

Originally Posted by Bamaman NW Alabama-:3 bedrooms, 3 full baths and 2620 square feet upstairs. 9-10 foot ceilings and a oversized double car garage. Basement is another 2620 square feet with 2 bedrooms, 2 full baths and another double car garage. Man cave is 26' X 47' with 10 ft.ceilings and trimmed out like upstairs. $298k. Taxes are about $1700. Houses on the street are up to 10,500 square feet and lots are 150' X 220'.

I may have to move to AL.

My place is 3bd/1ba and only costs $110,000 but I pay $2300 in taxes.

[Mr._Graybeard]

Quote:

Originally Posted by aaronc879 I may have to move to AL. My place is 3bd/1ba and only costs $110,000 but I pay $2300 in taxes.

Alabama's sales tax averages 8% between state and local levies. Wisconsin is at 5.5% in most of the state.

[aaronc879]

Quote:

Originally Posted by Mr._Graybeard Alabama's sales tax averages 8% between state and local levies. Wisconsin is at 5.5% in most of the state.

Unless they raised it and I didn't notice, the sales tax by me is just 5%. I think it's higher in Madison and some other places. I don't usually leave the Fox Valley though.

[Chuckanut]

Quote:

Originally Posted by MichaelB That's 'cause their sports teams are losers and the weather sucks ..

I'm not from Illinois, but IIRC, the Cubs won the World Series about two years ago. Compare that to many teams which can't even break 500.

I know we are in trouble again this year as they keep advertising stuff like "Come out to the Park to see Joe Shlabotnik play in his 371st game of his career". But, we never hear "Come out to the park and help the Roosters battle for 1st place in there division."

Pathetic.

[RAE]

Quote:

Originally Posted by Chuckanut Jobs and salaries drive home prices. .

Right - which is why it is so tempting for retired folks to sell their home in the suburbs and buy a really nice home (for a LOT less) with some land in a place where jobs are scarce. If you don't need to find work, there are many decent places to live in the interior portions of the country where you can live comfortably for a lot less $$.

[Chuckanut]

Quote:

Originally Posted by RAE If you don't need to find work, there are many decent places to live in the interior portions of the country where you can live comfortably for a lot less $$.

Very true. And the quality of life is still very high in many ways except for dollars.

I expect my children leave this area when they are out of school, due to the high cost of living here. I will probably follow them.

[daylatedollarshort]

It would cost right around a million dollars for a an older, 3 bedroom detached house here - Bay Area suburb.

[6miths]

Quote:

Originally Posted by Chuckanut I'm not from Illinois, but IIRC, the Cubs won the World Series about two years ago. Compare that to many teams which can't even break 500.

And I think that the Blackhawks won the Stanley Cup 3 of the last 7 years. I remember a guy named Jordan too and a pretty good basketball team but maybe that is too long ago to qualify. (No mention of Da Bears! as 30 years is quite a while although they did lose in the Super Bowl in 2007.)

[MichaelB]

Quote:

Originally Posted by Chuckanut I'm not from Illinois, but IIRC, the Cubs won the World Series about two years ago. Compare that to many teams which can't even break 500.

Uh, yeah, the Cubs won the WS - once in a century. Gonna be a long wait 'til the next one ...

Quote:

Originally Posted by 6miths And I think that the Blackhawks won the Stanley Cup 3 of the last 7 years. I remember a guy named Jordan too and a pretty good basketball team but maybe that is too long ago to qualify. (No mention of Da Bears! as 30 years is quite a while although they did lose in the Super Bowl in 2007.)

Last century. Doesn't count.


I lived there when I was younger, and still spend part of the year there. And the weather still sucks.