House Prices...

Where did you get that man purse?
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JP Chestnut
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Name: Jacob
Location: Ithaca, NY USA

Re: House Prices...

Post by JP Chestnut » Sat May 08, 2021 7:17 am

gwells wrote:
Sat May 08, 2021 7:03 am
JP Chestnut wrote:
Sat May 08, 2021 6:33 am
Seppia wrote:
Fri May 07, 2021 8:37 pm
Could be, but it’s cold elsewhere in the world and 5000sqf houses for the middle class are an American thing only.
For most people across the west 2000sqf for a family of four qualifies as “very, very big”.
I’m not questioning people’s choices with money, I was just trying to suggest a way of taking advantage of the huge price spikes lately.

Downsize in high markets / upsize in down markets is what I would do.
I'm not arguing with you and your input is always interesting. However, I'm not sure that I'd count a $500K house in Georgia as middle class. My house is more like 3,500 sq feet, cost $100k less, and is in NY state. I'm in the top 10% of earners.

With that said, if I were single I'd live in a Condo, and own a huge collection of sports cars housed in a nondescript industrial warehouse somewhere.
yeah, 5k sf around me is still $1m plus. my 1400sf starter home is $600k.

sadly, the neighborhoods i like have been mostly infilled with 4000-6000sf teardown/rebuilds. but on lots designed for 1500-2000, so the yards aren't proportional. so even if i wanted to move into them, i wouldn't find a house the size i want (2500-3000 is max for us).
Yard size is underrated. I’m probably a couple hundred feet from my neighbors and it’s still too close.

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Steve O.
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Re: House Prices...

Post by Steve O. » Sat May 08, 2021 7:36 am

JP Chestnut wrote:
Sat May 08, 2021 7:17 am
gwells wrote:
Sat May 08, 2021 7:03 am
JP Chestnut wrote:
Sat May 08, 2021 6:33 am
Seppia wrote:
Fri May 07, 2021 8:37 pm
Could be, but it’s cold elsewhere in the world and 5000sqf houses for the middle class are an American thing only.
For most people across the west 2000sqf for a family of four qualifies as “very, very big”.
I’m not questioning people’s choices with money, I was just trying to suggest a way of taking advantage of the huge price spikes lately.

Downsize in high markets / upsize in down markets is what I would do.
I'm not arguing with you and your input is always interesting. However, I'm not sure that I'd count a $500K house in Georgia as middle class. My house is more like 3,500 sq feet, cost $100k less, and is in NY state. I'm in the top 10% of earners.

With that said, if I were single I'd live in a Condo, and own a huge collection of sports cars housed in a nondescript industrial warehouse somewhere.
yeah, 5k sf around me is still $1m plus. my 1400sf starter home is $600k.

sadly, the neighborhoods i like have been mostly infilled with 4000-6000sf teardown/rebuilds. but on lots designed for 1500-2000, so the yards aren't proportional. so even if i wanted to move into them, i wouldn't find a house the size i want (2500-3000 is max for us).
Yard size is underrated. I’m probably a couple hundred feet from my neighbors and it’s still too close.
Agree 100%. Next house is going to be on a lot big enough where we don't have to look at or hear neighbors.
"Don't sweat the petty things and don't pet the sweaty things." - George Carlin

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BlueSky
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Name: David

Re: House Prices...

Post by BlueSky » Sat May 08, 2021 7:37 am

gwells wrote:
Sat May 08, 2021 7:03 am
JP Chestnut wrote:
Sat May 08, 2021 6:33 am
Seppia wrote:
Fri May 07, 2021 8:37 pm
Could be, but it’s cold elsewhere in the world and 5000sqf houses for the middle class are an American thing only.
For most people across the west 2000sqf for a family of four qualifies as “very, very big”.
I’m not questioning people’s choices with money, I was just trying to suggest a way of taking advantage of the huge price spikes lately.

Downsize in high markets / upsize in down markets is what I would do.
I'm not arguing with you and your input is always interesting. However, I'm not sure that I'd count a $500K house in Georgia as middle class. My house is more like 3,500 sq feet, cost $100k less, and is in NY state. I'm in the top 10% of earners.

With that said, if I were single I'd live in a Condo, and own a huge collection of sports cars housed in a nondescript industrial warehouse somewhere.
yeah, 5k sf around me is still $1m plus. my 1400sf starter home is $600k.

sadly, the neighborhoods i like have been mostly infilled with 4000-6000sf teardown/rebuilds. but on lots designed for 1500-2000, so the yards aren't proportional. so even if i wanted to move into them, i wouldn't find a house the size i want (2500-3000 is max for us).
Some of you may remember I live in the non metro South. 600K is a lot of house here with premium construction, high end finishes, cabinetry, lighting, flooring, Sub-Zero/Viking, etc....you name it, plus solid lot size, pools (in some cases) and extensive landscaping.

My wife is in management with a major manufacturing concern, now owned by an equity firm out of NY. Some of their guys, and their wives, who have transferred in, as you can imagine, are amazed. To Greg's example, starter house to a dolled out mini mansion for the same dollars, or less.

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gwells
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Re: House Prices...

Post by gwells » Sat May 08, 2021 7:49 am

in the end, it comes down to space. major metropolitan areas only have so much of it. there's no more room for development, only infill (and that's mostly gone) and teardowns. inside the beltway around DC is prime real estate. we made sure 20 yrs ago to stay inside the beltway and our house is worth nearly 3x more than when we bought it. and we've done minimal reno.

we'll see if any values go down in metro areas with the perception that people want to move out of them. but so far, values around here have continued to rise and homes are selling rapidly with multiple offers. and i'm 10 miles from the capitol building.

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BlueSky
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Name: David

Re: House Prices...

Post by BlueSky » Sat May 08, 2021 8:06 am

gwells wrote:
Sat May 08, 2021 7:49 am
in the end, it comes down to space. major metropolitan areas only have so much of it. there's no more room for development, only infill (and that's mostly gone) and teardowns. inside the beltway around DC is prime real estate. we made sure 20 yrs ago to stay inside the beltway and our house is worth nearly 3x more than when we bought it. and we've done minimal reno.

we'll see if any values go down in metro areas with the perception that people want to move out of them. but so far, values around here have continued to rise and homes are selling rapidly with multiple offers. and i'm 10 miles from the capitol building.
As you can imagine, the (local) real estate numbers that have been in my head for all these years, vs you guys, are wildly dissimilar.

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BacoNoir
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Re: House Prices...

Post by BacoNoir » Sat May 08, 2021 8:15 am

We’re in 2200 sq ft right now with 2 floors, an unfinished basement, 3 car garage and outdoor shed.

We only use about half the space in the house but all the storage. In retirement, we want a single level horse with about 1100-1400 sq ft with great outdoor living space and a barn or a place to build one for the RV and other toys.
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demer03
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Re: House Prices...

Post by demer03 » Sat May 08, 2021 9:53 am

JP Chestnut wrote:
Sat May 08, 2021 6:54 am
demer03 wrote:
Sat May 08, 2021 6:40 am
JP Chestnut wrote:
Sat May 08, 2021 6:33 am
, and own a huge collection of sports cars housed in a nondescript industrial warehouse somewhere.
Weird....same daydream here :lol:
This is the dream
Image

Or maybe

Image
Oh yeah. More garage than house.
Old Michigan steams like a young man's dreams
The islands and bays are for sportsmen

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JP Chestnut
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Name: Jacob
Location: Ithaca, NY USA

Re: House Prices...

Post by JP Chestnut » Sat May 08, 2021 9:59 am

demer03 wrote:
Sat May 08, 2021 9:53 am
JP Chestnut wrote:
Sat May 08, 2021 6:54 am
demer03 wrote:
Sat May 08, 2021 6:40 am
JP Chestnut wrote:
Sat May 08, 2021 6:33 am
, and own a huge collection of sports cars housed in a nondescript industrial warehouse somewhere.
Weird....same daydream here :lol:
This is the dream
Image

Or maybe

Image
Oh yeah. More garage than house.
Some day. Sadly, probably when I’m too old to really enjoy it.

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matt.wu
Wu
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Name: m@
Location: SF Bay Area, CA, USA

House Prices...

Post by matt.wu » Sat May 08, 2021 4:45 pm

We’re outside of the city, and our 1750 sq ft is 1M+. But family is here, and there a lot of cultural and entertainment variety around here, so we consider it worth it.

TBH, I don’t want more square footage than that. I don’t know what I’d do with it.
:htfu:

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Captdave
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Re: House Prices...

Post by Captdave » Sat May 08, 2021 7:27 pm

Selym wrote:
JP Chestnut wrote:
Wed May 05, 2021 6:40 pm
gun banning sex pest grandma killer
If I get back into playing music, do I have your permission to use this as my band name?
Sounds like a great name for an album/song


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Captdave
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Re: House Prices...

Post by Captdave » Sat May 08, 2021 7:34 pm

BlueSky wrote:Obviously moot in many cases, but I don't get lenders/appraisers, the numbers in general, regarding loans on these properties.
Many of the places selling around here are cash so...no need for appraisal or lender involvement. One of her listings just went for $345,000 over asking all cash 30 day closing. The market is crazy.


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BlueSky
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Re: House Prices...

Post by BlueSky » Sun May 09, 2021 4:11 pm

matt.wu wrote:
Sat May 08, 2021 4:45 pm
We’re outside of the city, and our 1750 sq ft is 1M+. But family is here, and there a lot of cultural and entertainment variety around here, so we consider it worth it.

TBH, I don’t want more square footage than that. I don’t know what I’d do with it.
Matt...Your area has always fascinated me regarding real estate numbers. Your example is stunning enough, and then there's Atherton and Pac Heights that come in around $1500-1700/square foot and those are friggin median numbers.

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fastward
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Re: House Prices...

Post by fastward » Wed May 12, 2021 2:37 pm

The market is just wild. My friend is looking for a house in Washington state, just outside of Portland and everything is going for $50-75k for over asking.
I’m just counting down until my house is paid off and then to the day that we can move out of state.

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