The amazing variance in the cost of housing...

A lot depends on the location and proximity to jobs around here. I'm stunned at the number of people who commute to the Washington, D.C. area but a major reason for that is the price of housing there. On a good day a drive from here to the D.C. line is an hour and a half. If there's snow forget it. Our house is a 1700 sf single family rambler, three bedroom, three baths (one in the basement near the family room) and a two-car attached garage. Last I looked, Zillow says market value is ~$240k. Lot is 1/4 acre.

Y'all are gonna love this - property taxes were $1,200 last year, plus ~$300 for personal property taxes on vehicles. HOA dues are ~$44/month, and around here most folks want an HOA because there is no zoning which means you can build a nice house and the guy next lot over can open a junkyard (or worse). So the HOA controls that.
 
We have a 1400 sq ft 1950 ranch with 3 bd and 2 baths. It is worth 350k. We have a decent sized yard for right in town. Housing prices in Northern Nevada are skyrocketing as are rents. OUr property taxes are 700/year.
 
3/2 in Greensboro NC, .4 ac lot, on a cul de sac, 140-150k with property tax and hoi totaling 2500.
 
We have a 2,000 sq ft brick ranch with 3 bdrms and 2 baths. It is worth around 250k. We have a decent sized yard and is in a 55+ community. Our property taxes are 4,500/year. Located in The Woodlands, TX, about 30 miles north of downtown Houston.
 
We have a 2200 sq.ft. extended cape in Mass. Taxes are $4800 and worth about $550k
 
2500 sq ft, single wall construction built in 1939 on 2 acres, $1.85mm. Maui.
 
Everything is relative. My zip it appears an older (1960's) 3/2 on 5-10k lot will run you between 700k and 1M, depending on canyon views and condition of house. Most of these houses are 1300-1900sf.

Going south to the next zip (Clairemont neighborhood) it's 500k-1M for a 3-2, late 50s to early 50's... the $1M price tags are for homes with views of Mission Bay/distant pacific ocean.

Going west from my zip to La Jolla it's 1.1M for no view on a busy street, to over $10M for panoramic ocean view.

Coastal San Diego is pricey.
A house near us that is literally being torn down to the studs sold for $900k last year... It's currently see-through... no stucco.... total gut job.
A similar home that had 1960's original paneling and formica sold for $850k. Both were 4/2's on 10ksf lots.
 
Mr._Graybeard said:
Wisconsin's northwoods are teeming with retirees from Milwaukee/Chicago/Minneapolis. Granted, they're likely snowbirds.
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Yep, same thing here in northern Michigan. If you don't mind smaller-town living, you can get a pretty nice house around here for a fraction of the cost of what you'd pay for a similar house in the suburbs of those cities (and you usually get more land with the house here too). And then take the savings you pocket and use it to pay for snowbirding for the next XX number of years, if you want to. I'm sure a lot of folks around here do just that.
 
Here in my district (Lima, Peru) an acre lot is worth $12 million USD. You can get a small house for $850k (fixer upper), a pretty nice 900 sq ft apartment for about $300k with taxes of $600/year.
 
1240 sq ft, 2 bdm 2bth, $500K.
Yes that's right, close to $400 per sq ft for something within walking distance to town and the river. Prices in colorado are appreciating very quickly.
 
hesperus said:
1240 sq ft, 2 bdm 2bth, $500K.
Yes that's right, close to $400 per sq ft for something within walking distance to town and the river. Prices in colorado are appreciating very quickly.
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Foreigners buying land are driving Colorado prices out of sight.

My sister sold a townhouse in Aspen and bought a huge house in the North Carolina mountains and half interest in a Learjet 45 used to fly there.
 
Bamaman said:
Foreigners buying land are driving Colorado prices out of sight. ............
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Here in the PNW it is fleeing Californians. Average cost of homes in my zip code went up almost 16% last year - just in time for us to buy. :(
 
rayinpenn said:
First let me set the stage on where we are coming from: Our 3,000 plus square foot home on a wooded acre is worth around $500K. The property taxes are a whopping $10.5k/yr...
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In my Zip code in Phoenix, AZ, the lowest priced home with a 1-acre lot is $1.2M. The home is large though, with 5BR and 4900 sq.ft. For $500K, there are plenty of choices, but one cannot expect a large lot for that money. The houses are a steal, compared to along the coasts.

Outside of Phoenix, land is a lot cheaper. Up in the high country boondocks, $500K would buy a 3,300 sq.ft. with 1-acre lot.
 
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.
 
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.
 
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SonofCohoes said:
Need a big fence, deer real thick out there.
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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.
 
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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!
 
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'.
 
VanWinkle said:
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.
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I know a fair number of Illini and most of them spend a lot of time whimpering.
 
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
 
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.
 
1400 sq-ft ranch on a 7000 sq-ft lot, a Kaufman & Broad econo tract house in the Central Valley, $450K
 
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