Average house price in your state?

[Richard Cranium]

I live in the "poor" part of Jersey; it's the only part I can stomach

In other words, you live in the Arkansas of New Jersey.

 

[Richard Cranium]

Right next to me. You can buy my whole street for that. Even the thieves leave us alone, they feel sorry for us. The cost is stupid, I wouldn't buy now unless I was just getting started and had no choice. I'd buy and refinance as soon as things come back to earth. When I bought my first house interest rates where 10 percent.

I've been told prices will go up and stay up, that's hard to believe. If that's true, the bubble will really make a mess when it pops. I really don't know what to believe anymore.

My first home mortgage had an interest rate of 11.25%.

According to Zillow, the median home price in Massachusetts is $622,639.00.
It seems as though starter homes in my town and surrounding towns is at least 650 large. I don’t know how first timers can do it without help from parents national bank.

 

[eldubb440]

mine comes with a 2200 sq ft turn key shop.......... asking 500K........ should I start a for sale thread?

 

[Hey-O]

My first home mortgage had an interest rate of 11.25%.

According to Zillow, the median home price in Massachusetts is $622,639.00.
It seems as though starter homes in my town and surrounding towns is at least 650 large. I don’t know how first timers can do it without help from parents national bank.

That's the problem, they can't do it. Then we feed on them and take their homes. Keeping people poor while big money gets rich from them is going to destroy this country. I'm great, I took my turn at the till, but those coming up behind us are having an uphill battle.

 

[1KoolBee]

$527k is median in far north ID. Was dirt cheap before the 150% price jump in 2020. And no don’t expect things to get much better. This is 1973 all over again, ie Jimmy Carter 2.0!

 

[440 4 speed]

I rented for a decade after getting burned in the real estate bust when interest rates went nuts in 1980, after buying high, and selling low. I've lived through two major real estate busts already, and folks never seem to expect them.

We had a saying back then (Buy high sell low and make it up in volume). Couldn’t do anything about interest rates.

 

[440 4 speed]

That's the problem, they can't do it. Then we feed on them and take their homes. Keeping people poor while big money gets rich from them is going to destroy this country. I'm great, I took my turn at the till, but those coming up behind us are having an uphill battle.

We had a spell where we managed to lock in at 21.5%. Wasn’t easy to make ends meet.

 

[cr8crshr]

In Nevada, the average is 499.00. I didn't pay nearly that at below 250.000 back in 2015 and as of today, the estimated value of my 1400 sq ft ranch is 420.00. I constantly get solicitations to tap the equity or do I want to sell? Nope...Not selling but I also will not tape the equity as that is what happened back in 2008 when the bubble burst and so many were either underwater or bit off more than they could chew. Gonna sit and ride it out...cr8crshr/Bill

 

[33 IMP]

The house I grew up in was bought by my parents for $10k. In the seventies, when it was paid off, my dad and grandfather built another 2 car garage (to add to the original ONE car garage) and had an addition done that more than doubled the Sq footage.... for about $30k.
Last estimate has it at $800k. I wonder if a $20/hr hamburger flipper can afford it?

 

[AR67GTX]

Bummer. I couldn’t get my wife to move out of the city so I’m similarly stuck in the burbs with an oversize garage.

 

[Richard Cranium]

Lakefront property on Canandaigua or Keuka lake is outrageous. (Starts at 1 million for a little shack)

Home sales on the lake I'm on in NH are outrageous as well. This place is 4 doors down from us & sold for 1.4 million in the fall of 2022. It's a beautiful lot, but the house was a tear down.

891 Canal Road, Sanbornville, NH 03872 | Zillow

891 Canal Road, Sanbornville NH, is a Single Family home that contains 1067 sq ft and was built in 1928.It contains 5 bedrooms and 1 bathroom.This home last sold for $1,400,000 in October 2022. The Zestimate for this Single Family is $1,544,300, which has increased by $245 in the last 30...

www.zillow.com

Below is the new house that's currently under construction. Between the site work & construction, I'm sure they are easily spending another million.

We bought our place in 2001 & while it was fairly pricey (to us) at the time, it was still affordable on a middle class income. With today's values, we just wouldn't be able to afford our place. With what it's valued at now, some would think of me as Thurston Howell III, but I sure don't feel like him.

 

[CHARGERSTEVEN]

Home sales on the lake I'm on in NH are outrageous as well. This place is 4 doors down from us & sold for 1.4 million in the fall of 2022. It's a beautiful lot, but the house was a tear down.

891 Canal Road, Sanbornville, NH 03872 | Zillow

891 Canal Road, Sanbornville NH, is a Single Family home that contains 1067 sq ft and was built in 1928.It contains 5 bedrooms and 1 bathroom.This home last sold for $1,400,000 in October 2022. The Zestimate for this Single Family is $1,544,300, which has increased by $245 in the last 30...

www.zillow.com

Does your wife have strawberry blonde hair n is her name Ginger
Below is the new house that's currently under construction. Between the site work & construction, I'm sure they are easily spending another million.

View attachment 1667479


View attachment 1667483

We bought our place in 2001 & while it was fairly pricey (to us) at the time, it was still affordable on a middle class income. With today's values, we just wouldn't be able to afford our place. With what it's valued at now, some would think of me as Thurston Howell III, but I sure don't feel like him.

 

[eldubb440]

In other words, you live in the Arkansas of New Jersey.

that would be about 20 miles to the south......... Indiana might be a better comparison

 

[YY1]

At least the boathouse was salvageable.

 

[copper67sat]

Average price in FL is just under $400K. Average price in Palm Beach County is just under $500K, but goes up fast as you get near or on the water. "Starter" homes in my near vicinity are at least $500K and are usually at least 30-40 yrs old. New hires at work are buying much farther away for affordability unless they have equity from property elsewhere.

Our neighborhood is semi-rural with 5 acres lots, but still within 10-15 miles of "town". We were fortunate to buy a vacant lot in 1999 for $94K and then build our house. Growth has spread to northern PB County since then and prices have shot up. There are very few vacant lots left, mostly because they are less desirable - next to the highway or swampy, and they list in the $750K to $1M range. Houses start around $1.5M and up (way up) depending on age, condition, amenities, etc. We can't afford to buy here now (almost can't afford to live here with the current economy) so we are very thankful we made the move when we did.

 

[SteveSS]

Correction. i must have misheard it.
ople's


The median price of a home sold in Colorado reached $600,000 for the first time in April, a sign that the big run-up in prices seen across metro Denver is at play across much of the state, according to a monthly update Wednesday from the Colorado Association of Realtors.

There are a few 5-10 million dollar homes around my neighborhood but most are around 1 million in my area. I built my house for $235K in 2000. My son who is that young person's age buying a house says my neighborhood is full of old people who couldn't afford the house they're living in now and he's right.

Here's a McMansion near me.

4602 High Forest Rd, Colorado Springs, CO 80908 | MLS #2313852 | Zillow

 

[Hey-O]

Home sales on the lake I'm on in NH are outrageous as well. This place is 4 doors down from us & sold for 1.4 million in the fall of 2022. It's a beautiful lot, but the house was a tear down.

http://[URL]https://www.zillow.com/homedetails/891-Canal-Rd-Sanbornville-NH-03872/86720126_zpid/

[/URL]

Below is the new house that's currently under construction. Between the site work & construction, I'm sure they are easily spending another million.

View attachment 1667479


View attachment 1667483

We bought our place in 2001 & while it was fairly pricey (to us) at the time, it was still affordable on a middle class income. With today's values, we just wouldn't be able to afford our place. With what it's valued at now, some would think of me as Thurston Howell III, but I sure don't feel like him.

Prices that high are only good for those getting out of the housing market. You have to pay that again and more to get back in, no gain. I use to look at places thinking of my profit margin, now I look at them and wonder if I'm going to be the guy that owns it when the bottom falls out and I lose 100 large. The best money was always those that inherited the place I bought. They didn't want to deal with any predication and or problems. I'll take it as it is and you can just walk away. Why should they work for it at all , it was all in their pocket for free anyway.

 

[Richard Davis]

I guess you can say that house prices are up or that the same dollar doesn't buy as much as it used to.

In 2020 I bought a lot in SC for $22k. I spent $315K building a 2700 sq ft house with a 4 car garage. Since I was the (owner) builder I never went through a traditional appraisal process when converting from a construction loan to a mortgage. That means the local tax assessor set the value. Houses in my subdivision that were built by a builder and sold have a much higher assessed value since they went through a bank appraisal. Their taxes are also based on a higher value.

I struggled qualifying for the construction loan because the average house (comp) value was like $250K at the time. It was a stressful year building the house with the lumber and building material prices on a roller coaster.

 

[Detective D]

HA!
In podunk town of 3000ish WI,
mid century 2 bedroom home in nice shape in town circa 2020: $90k
Now: $175k

"Farmette" on 2-5 acres, up to 10 acres, out in rural nowheresville where it takes an hour to commute to town where you need a job, 2020: $160k-250k, $300k for updated.
Now: Average condition: $270-300k. "Updated"(overhauled) on 5 acres just listed near me: $880k. Has a new 2 car(detached) unheated garage though!

Like most things, WI lags behind and generally balanced wages with cost of living. Houses were no exception.
Until nationwide prices start coming in due to high inflation. Happened in 2006, happening now. Working shmucks like me spent the ten years following the last go round getting ground into the dirt wage-wise, wondering when things will come around. Then they slowly did. Now we are doing it again. I promoted up a bit, but I am getting paid about 2/3's of what I could be, and by next year it will be roughly half. I love this state, but it has been destroyed in the last 5 years, at least the NE WI farmlands have been anyway. To get away from what is happening near me I would have to move very far north(climate changes in the north woods, not really what I want) Or a good ways west but then I would have a 45 minute commute minimum, one way.
There are still pockets of pure farm country to live in. But they are very secluded now, so far away from any bigger town, or decent size road, that nobody has a reason to go out there. Used to be the main highway coridors were also surrounded by farms, so you could live within reason of town work.

I might be looking to leave my home state 2/3 the way through my life, where I grew up about 25 miles north of where I live now. I don;t want to, but I owe it to myself and family to not do another decade of being ground into the dirt. I don;t think I would survive it physically or mentally at this point.

 

[#41]

Prices that high are only good for those getting out of the housing market. You have to pay that again and more to get back in, no gain.

Unless like me you get outta Dodge and get back in rural. The short term gain is great, but the long term tax gain is huge.