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Unread 06-13-2009, 11:48 AM   #1
pooky
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home values

I like to peruse real estate in various regions and see what sort of home is available at different price points across the nation. I know, weeeeeeee,
get a life stephen. Never the less . . .

. . .I had an aha moment -- you folks have unique insight with regard to your local markets so . . .

Could you please chime in on average home values in YOUR area, as a survey
of current pricing --

Ya never know where you might end up one day -- like Louisville for example.
Voted by the mayors of this nation as best city to live in, considering home prices, and amenities, and the like.

Anywho, your valuable input is greatly appreciated.

I'll start:

Median home value in the greater seattle area about 550K -- entry level
250K for a POS or a skinny house, or condo

next
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Unread 06-13-2009, 12:11 PM   #2
java
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I can't remember the exact number but median home values in OK are around 100k.

For 250k you get a lot of house in OK.
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Unread 06-13-2009, 12:43 PM   #3
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About the same in Houston. Entry about a hun. 250 buys you a nice spread.
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Unread 06-13-2009, 01:13 PM   #4
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entry 150-200 something nice with some property in the suburbs high 200's and to the sky
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Unread 06-13-2009, 01:25 PM   #5
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about 150- 250 enrty level. and up to a million in the higher up new houses
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Unread 06-13-2009, 01:26 PM   #6
ceramictec
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Hey Stephen,

I'll save you the trouble and others...

look here:

Median Sales Price of Existing Single-Family Homes for Metropolitan Area's

Median Sales Price of Existing Apartment Condo-Coop Homes for Metropolitan Area's


Total Sales: Single-Family-Apartment Condos and Co-ops
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Unread 06-13-2009, 05:18 PM   #7
SteveVB
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is decent info
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Unread 06-13-2009, 05:42 PM   #8
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Schuylkill county Pa ( coal country ) entry level, in the small coal towns, 5 to 25 thousand, higher, nice old victorians top out at about 200 to 250 thousand, in the rural areas outside the coal towns entry level 100 grand, 500 grand will buy you a mansion with 30 acres.
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Unread 06-13-2009, 09:57 PM   #9
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ceramictec's cool data ad infinitum

I was sobered by the realtor.org numbers across the board.
highlighted by these intriguing stats:

Median "sales" price percentage-drop, as reported by realtor.org

Down as much as 60% in Fort Meyers Florida -- ?? what??
Akron Ohio down 48% --
San Fran and San Jose down 42 % respectively --
Phoenix down 42% --
Riverside CA down 39%
Sioux Falls SD 30%

on the flip side

Davenport IL plus 14%
Oklahoma City OK plus 4%
Springfield Ill plus 4%
Shrieveport LA plus 3.5%
Syracuse NY plus 3%
Topeka KA 3%
Salt Lake City UT plus 2%
Green Bay Wisc Plus 1%

Nationally down 14 %

The West and Northeast with the heaviest losses

then the South, followedby the Midwest performing best at 6% down from last year

Disappointed to see the NY NY local strangely absent (or I could be blind too)

Thought: What the hell is going on in Ft Meyer Florida and conversely,
Davenport Illinois.

Thought 2: Is the value decrease-loss less in the midwest because the value pool is so low to start with; was there then less speculation on property value as investors glutted the big $$ markets --

Thought 3: The numbers are accurate through the first quarter of 2009,
but the housing slowdown is a couple years old -- so that means
these numbers are compounding the previous year's loss.

In King County WA the local paper reported 15% loss "year on year" -- so less
than 30% but pretty grim nonetheless.

In any case, really fascinating regional and local threads within this data.
I'm sure there is a lot to be inferred there.

All that said, I like local info way better -- tileman's terms -- easily understood -- straight forward

reference Mountain Tiles response -- and everyone else for that matter

keep em comin'

Entry Level / Nice Spread / Palatial

thanks
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Unread 06-13-2009, 10:40 PM   #10
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Phoenix metro is a real mix. Everything from under, yes I said under, $100K to millions. A real estate client told me today that there is multiple bidding going on and most foreclosure sales under $250K are selling $20K above asking price....and fast. Short sales are still taking months...getting the banks to respond appears to still be a challenge.

Crazy stuff.
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Unread 06-13-2009, 11:02 PM   #11
Levi the Tile Guy
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Quote:
Schuylkill county Pa ( coal country ) entry level, in the small coal towns, 5 to 25 thousand, higher, nice old victorians top out at about 200 to 250 thousand,
Wow I thought those prices were decades gone.

Here in Blue collar western slope of Colorado starter is 175-200k if your lucky, and the sky is the limit from there.

In the ski towns starter townhomes run about 400-600k and there were waiting lists for those, not sure how the last 6 months has been as I haven't checked, I doubt prices are going down on them there just aren't any new ones being built, or available.
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Unread 06-14-2009, 01:01 AM   #12
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what Marge said. However, numbers like 'median,' 'average,' etc are nice for the demographic data collectors, but pretty useless if you actually care to buy or sell a home. Why? The age-old guiding principle of real estate, that's why - location, location, location.

Median price, along with range, can be quite useful from a distance if one is just surveying different locales for future possibilities. Those numbers can tell you whether you even want to bother. Like San Fran - still way out of my price range for what I want from property.

A good location is going to sell well even in a bad market, and it won't get hit as hard. Tucson is at least as varied as Phoenix, maybe more for it's smaller size. What I have seen both here and in Detroit (we sold out in 2002) has convinced me that my strategy is sound:

- don't buy into the "hot" neighborhood
- get as much land as you can without moving to the boondocks
- avoid cookie-cutter tract housing
- avoid new construction, especially if it's in a "planned community"
- do buy in older, established neighborhoods
- buy where there's no more room to build
- buy where there aren't any houses for sale (ie, low turnover)

that said, I think AZ is still in the top 5 for foreclosures. You can get a pretty good deal if you have good credit and a little cash. 150 will get you a nice house in some decent areas, but don't expect much appreciation for awhile. The good areas are still going to cost you 250+
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Unread 06-14-2009, 08:03 AM   #13
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Stephen,

Quote:
What the hell is going on in Ft Meyer Florida
just a lot of boom building and speculative investors trying to flip homes. the prices in some area's like Ft Meyers, Port Charlotte, Naples & Cape Coral went up absurdly high. now they have fallen down to what they are really worth.

I have a friend that was buying property from people and selling it for double or triple to people wanting to build a home on it moving into the area soon. and some builders that have home models selling in those areas for 400k but in another area of Florida the same home layout different name for 300k.
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Unread 06-14-2009, 09:30 AM   #14
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Yes Levi, I was amazed at what things cost around here, Keep in mind those low prices come with a 100 year old row home built by the coal companies, that would be a wreck of a home needing 30 grand worth of repairs. For 70 to 100 grand you get a completely remodeled twin or row. So real estate is about half of the price of the Phila. market 100 miles away. The bad part is you make about half the wage as well. It is like going back 30 years in time here, beautiful in the country, just not much here.
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Unread 06-14-2009, 10:15 AM   #15
tilelayer
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Chuck,

how far from tower city are you? We used to ride quads up at tower city its like 100,000 acres to ride on(may be over exaggerating), its so big its scary you would go 10-15 miles away from where your base camp was and hear shotguns being fired. it was a good 2 1/2 hours up 76 though to get there.
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