Home prices getting interesting, what price are homes in your neighborhood?

[albundyz]

So Cal, gated 55+ community. Avg price is $850k for 2 story 2300 sq ft, $740K for 1 story 1800 sq ft. in our general neighborhood, there's no way young people can buy, unless both work and both make good salary.

 

[captain3d]

The higher prices go the better renting becomes

 

[Another Reader]

not to mention prop 13 lol.

You probably pay a tenth of what your neighbor pays in taxes for the same house

Nope. The incredibly myopic voters here vote for every silly "special assessment" that shows up on the ballot. Also, the value compounds at two percent per year. The taxes are still low, but closing in on two percent of the assessed value.

 

[SDHiker]

We relocated from Southern CA to Southern Oregon in 2016. We bought a larger house than we had in San Diego for $284K in a nice neighborhood bordering two golf courses. It is not gated. Latest market price here is $413K. We have no plans to move or upgrade. We found a single story house, 1,724 sq ft, a half mile from all medical services, but on the edge of town where it turns rural. Property taxes are around 3K/yr. Oregon has NO sales tax, which has saved us a bunch on cars/truck/RV purchases.

 

[aja8888]

I'm sure hoping all those west coast prices come to Texas where things are selling for 1/4 to 1/3 those prices. I'll cash out for a cool million and get a camper.

 

[kgtest]

I'm sure hoping all those west coast prices come to Texas where things are selling for 1/4 to 1/3 those prices. I'll cash out for a cool million and get a camper.

Apparently the campgrounds are getting even more packed as other's have shuttered. Less supply, more weekend warrior demand.

 

[aja8888]

Apparently the campgrounds are getting even more packed as other's have shuttered. Less supply, more weekend warrior demand.

Lots of room in Texas. A friend with his Class A rig just went to a local campground last weekend and the place was half full. Summer there is more demand of course. But it was 77 F today so it ain't too bad here.

 

[Gumby]

I'm sure hoping all those west coast prices come to Texas where things are selling for 1/4 to 1/3 those prices. I'll cash out for a cool million and get a camper.

I wouldn't sell my house for a million bucks. It is just how I want it and just where I want it. I'll sell it when I have to go to the CCRC and not before.

 

[steelyman]

I wouldn't sell my house for a million bucks. It is just how I want it and just where I want it. I'll sell it when I have to go to the CCRC and not before.

That’s an excellent place to be and viewpoint! People love the tired old cliche, “When you’ve won the game, why keep gambling?” - true in this case.

 

[aja8888]

I wouldn't sell my house for a million bucks. It is just how I want it and just where I want it. I'll sell it when I have to go to the CCRC and not before.

That's what my sister in CT keeps saying.

I would sell this place but I'd never get the million as it would be a $700,000 gain. It's 2,000 SF and too big. Besides, DW will be needing specialized care in the next couple of years and we may be selling then for a much different arrangement (probably not a camper).

 

[ExFlyBoy5]

I'm sure hoping all those west coast prices come to Texas where things are selling for 1/4 to 1/3 those prices. I'll cash out for a cool million and get a camper.

You would probably have to since the property taxes would be ridiculous!

 

[aja8888]

You would probably have to since the property taxes would be ridiculous!

Exactly! But we have no state income tax! So it kind of evens out. And our gasoline price for RUG yesterday was $2.89/gal. LOL

 

[Fermion]

Yeah don't quite understand the excitement of someone's house going from $500,000 to $1,000,000 if they don't plan to sell.

That is just a (eventual) double of your property tax.

 

[tmm99]

Yeah don't quite understand the excitement of someone's house going from $500,000 to $1,000,000 if they don't plan to sell.

That is just a (eventual) double of your property tax.

More to pass down to the kids eventually?

 

[Gumby]

Yeah don't quite understand the excitement of someone's house going from $500,000 to $1,000,000 if they don't plan to sell.

That is just a (eventual) double of your property tax.

I don't how they do things where you live, but around here they take the town budget and divide it by the grand list to get our mill rate. They they multiply the mill rate by your assessed value. If everyone in town had their house double in value, the assessed value would double, so the grand list would double and the mill rate would halve, because the town budget would still be the same. So your taxes would be the same. Our property gets reassessed every five years whether you sell it or not. The only time your property tax would double is if your house doubled in value and everyone else's stayed the same.

 

[aja8888]

Yeah don't quite understand the excitement of someone's house going from $500,000 to $1,000,000 if they don't plan to sell.

That is just a (eventual) double of your property tax.

Well, one can always wait for a recession and possibly see the value go back down then you won't feel too bad about not selling.

 

[finnski1]

I don't how they do things where you live, but around here they take the town budget and divide it by the grand list to get our mill rate. They they multiply the mill rate by your assessed value. If everyone in town had their house double in value, the assessed value would double, so the grand list would double and the mill rate would halve, because the town budget would still be the same. So your taxes would be the same. Our property gets reassessed every five years whether you sell it or not. The only time your property tax would double is if your house doubled in value and everyone else's stayed the same.

Yes that's how it is in our town here in NH as well.

 

[W2R]

I wouldn't sell my house for a million bucks. It is just how I want it and just where I want it. I'll sell it when I have to go to the CCRC and not before.

I'm so happy to read that you feel this way about your house! I feel the same about my Dream Home. Used to be that I never really thought anybody actually felt this content. But I do, and apparently you do too.

 

[daylatedollarshort]

Yeah don't quite understand the excitement of someone's house going from $500,000 to $1,000,000 if they don't plan to sell.

That is just a (eventual) double of your property tax.

Not where we live because of Prop 13. We have nice parks and schools and don't seem to have all the special assessments others complain about, so our property taxes stay pretty low.

 

[daylatedollarshort]

Well, one can always wait for a recession and possibly see the value go back down then you won't feel too bad about not selling.

Haha - It is a cr@p shoot on when to sell where we live. One neighbor sold their house and then comparable homes went up $500K in price the next year. But another time friends sold at the peak, and then 2008 came along and prices dropped.

 

[finnski1]

I'm so happy to read that you feel this way about your house! I feel the same about my Dream Home. Used to be that I never really thought anybody actually felt this content. But I do, and apparently you do too.

Make that 3. We feel the same way.

 

[W2R]

Make that 3. We feel the same way.

So glad! This is the happiness we all deserve after working so hard at our jobs, all of our lives!

 

[Samsung4321]

Not where we live because of Prop 13. We have nice parks and schools and don't seem to have all the special assessments others complain about, so our property taxes stay pretty low.

$A1.25M / unimproved value $A414,000; tax $A2,600 = 0.2% / 0.6%

Every day I collected the mail last year, the estimated value increased $A1,000. Now about $A200.

 

[finnski1]

So glad! This is the happiness we all deserve after working so hard at our jobs, all of our lives!

Exactly! I hope to get lucky and totally avoid CCRC's , Nursing homes etc. I only want to leave here feet first on a gurney, although hopefully not for a few decades more.

 

[Dtail]

Not where we live because of Prop 13. We have nice parks and schools and don't seem to have all the special assessments others complain about, so our property taxes stay pretty low.

Florida for most folks who own homes have the maximum yearly increase of 3% and if one moved for the first time into a market value house, the increases (for us) have been zero the last 2 years, while the lower taxed properties had a little increase.
This is while the home value increased 50%.