Home Sales.... Where are you at and what is it like?

[neverwouldof]

Wanted to see how the Market is for Home Sales in different parts of the country !

Chime in with your opinion and what is happening in your town !

Here in Jacksonville Florida the Job market is great but the income level is not high enough to support the higher prices. $180k-260k is the sweet spot.... $300-400's is harder to find people that can afford the monthly payments. Homes are selling but about 4 times the amount of houses on the market then 4 years ago.

Prices have dropped back to what they were 3 years ago... still lower?

Keith

[jpfelix]

around here we have homes that list from 25k and up. a livable family house would be 125-180k depending on location. but the market has been very stagnant for about 2yrs. some sellable homes have been listed for over a year. no sizable price drops though.

[Sk8r]

Market is slowing a bit: for a while, houses were selling anywhere from 130 to 500,000 within a couple of weeks. Quality tells: we bought this spring, and are still very convinced we got an excellent deal---but one house we looked at [where would-be flippers had spray-painted new paint onto old bubbled paint all over the exterior] still sits on the market, despite the killer bathroom they put in---they savaged the style of the period house with berber carpet that didn't meet the baseboards, and neglected the kitchen. That one I pass at least once a week may be for sale into the next century. Others are going away in about 2 months, pretty close to the asking price, plus or minus 5-10%.

[psychodave]

I work for a mortgage broker in Pleasanton Ca. Business has almost dropped off the board. House prices are dropping but rates are keeping qualified borrowers from getting into mortgages. House values out here are between 450 - 780k, the problem is that the rates are constantly increasing raising loan payments making the loans unaffordable to most of our clients. Houses are sitting on the market for several months, its not uncommon to see a listing over 9 months.

[otolith]

Things are slow in the Twin Cities. Houses have fallen in price (probably back to where they should be), and are staying on the market for a longer period of time. I think we currently have the highest number of homes for sale than we've ever had.

[bluerug]

I have heard the best thing for you to do when you are selling a house and nothing is happening is in fact raising the price of your home. The real estate market has dropped big time, and to be honest this is the best time for investors to buy em up.

[dwd5813]

Western MA here, and the market is flooded right now. However, I was able to get (an accept) an offer on my condo that was 2k less than my asking price. This sale will be a record for the highest selling price in the complex, or so i'm told.

[MarkS]

The new home market is slowing here. In fact, that big stock market drop last week was blamed in part to a builder that sited slower sales in the San Antonio area as the reason they posted lower earnings.

That being said, home sales are steady. People are flocking here from California and Florida due to the low home prices and cost of living. A 2 bedroom, 1 bath house in LA will run you $450,000 or more. Take that money here, buy a 4 bedroom, 2bath house around 2500 sq ft for about $150,000 and pocket the six figure difference. Or, plop the $450,000 down on a 4 to 5 bedroom 3 bath 4000+ sq ft mansion. The property taxes here are very low as well, a little over $1 per hundred.

[xtm]

I currently own a Townhouse in the Valley (Los Angeles County) it's 2 bd, 2 ba. 1072 sq. ft........ Bought it for 330K on 2005. I just got it appraised for the refi and it's now at 450K. However, prices are slowly leveling around my area. It's still ridiculous though, because even the worst area of Los Angeles you can't even find a small condo for less than 300K :(

My Aunt bought a super nice house in Philly. Sits in front of a lake, 3 car garage, quiet neighborhood....all for $150K. Makes me sick.. lol

[Jeffrey Porter]

Houses here $850,000 - well over $3 mil

Condo's $750,000 - over $2 mil

and people wonder why i still live at home.

[GoingPostal]

I just bought a 3 bedroom house with two car garage for $54,000. Of course, no one up here makes the kind of money to afford the prices you people are paying, the upscale part of town sells for $100,000 to $200,000 and more up the lake but that's mostly for tourists anyways.

[dkh0331]

Pittsburgh rated 'most livable' once again


Pittsburgh Post-Gazette



http://www.post-gazette.com/pg/07116/781162-53.stm

[VoidRaven]

Market is soft here. The golf course community here in town (yeah, they tried to put one in the country....silly people) just had an auction on the remaining unbuilt parcels. Houses on smaller lots than mine (I have 1/3rd acre, golf course houses on less than that) but roughly the same size (1700 sq ft) *starting* at $220,000......I paid around $134,000 for my home. Things went south about two years ago and have gotten progressively worse.

I laugh when banks call or send mail trying to get me to refinance at a "new low rate!".....no bank has been able to beat the 5.75% I currently have.

[wizardgus®]

Unchanged here. But it has always been bad here anyway. I bought my house 3 years ago, 3bdrm. 2-story brick on 3 lots with 2 car garage for $35,000...it had been on the market for two years.

But, don't be jealous. The Government has decided that since our housing costs are so low it would be a swell place to house welfare recipients. So crime rate is going through the roof. Amazing when the Government decides to turn a nice, quiet small town into a ghetto. :( Crack anyone?

[MarkS]

<a href=showthread.php?s=&postid=10472546#post10472546 target=_blank>Originally posted</a> by wizardgus®
Crack anyone?

Oh yes! Please! Thank you!

[Niven]

<a href=showthread.php?s=&postid=10472433#post10472433 target=_blank>Originally posted</a> by dkh0331
Pittsburgh rated 'most livable' once again


Pittsburgh Post-Gazette



http://www.post-gazette.com/pg/07116/781162-53.stm

You must be reading a different paper/magazine...

http://money.cnn.com/galleries/2007/moneymag/0707/gallery.BPTL_top_100.moneymag/

I don't know if "Most livable" is such a great compliment :p :rollface:

[Niven]

Although this one is in my back yard.......
http://money.cnn.com/galleries/2007/moneymag/0707/gallery.BPTL_top_100.moneymag/41.html

The market around here has "settled", although it didn't get really crazy a like some places have over the last 7-8 years. There are a lot of homes for sale, but I think most people are moving to larger homes.

[Bebo77]

LOL i live in LA... you cant touch anything in LA in a good neighborhood for less then $500,000

it really sucks.. that why people are moving farther and farther away from downtown...

[onereefnotenuf]

i work for a medium sized builder in southwest ohio as a sales rep.
it is slow!! we are making deals that would have been unheard of 2 years ago. if someone wants to buy and doesn't have to worry about selling, this is the time to do it.

[Hattie B]

ppppffffttt.. A 450k condo maybe there in pleasanton..

Its about 500k-1 million for anything decent.. and that is not where I want to actually live or even close to work.

But hey that's why I make a crap load of cash at 27 right?
more then some whole families, but its the same here as it is anywhere. make more money its expensive to buy.
Move somewhere cheaper, make less money its still expensive to buy.

Hattie b continues to save and save and still only be able to conformtably afford a condo, which she will not buy.. Just have to plan better.. =)