Real Estate Prices in YOUR area

Another NYC gal - prices are insane here. We own a two bedroom, two bath co-op apartment, approximately 1200 square feet. We paid $425K in 1999 and it was just appraised at $755K. The market is so hot right now, we could probably sell for close to $800K. The problem would be buying again - if we wanted to upgrade to a three bedroom, we're looking at $1,000,000 minimum in the neighborhoods we'd want to live in.

If you don't make a kajillion dollars a year, it's so hard to break into the NYC real estate market. DH and I got lucky - we bought our first place back in 1995 in Manhattan. It was a one bedroom (convertible to two if you didn't want a dining room), 1-1/2 baths, maybe 950 square feet. It was an estate sale, and the heir lived in California and had no desire to live in his late father's NYC apartment. It was vacant for almost a year, and we got it for $153K. At that time, that was a low low price for the high-rise full-service building we bought into, and the board almost turned down the sale because they didn't want to set a precedent for such a low amount. We sold three years later for $325K, and the profit we made from that jump in value enabled us to buy our current place. But now the profit we'd make on our current place wouldn't finance an upgrade. Glad we're happy here.

Allison
 
I live in Spring Texas(about 30 miles from downtown Houston). We live in a beautiful subdivision and we paid $190,000 for our 2,800 sq ft house in 1998. We could sell it for about $220,000. The weather is not the best hear but housing is very resonable.
 
I'm with the NY people - INSANE!!! We are only renting right now, but our apt (bottom of house) is roughly 1000 sq feet. The house goes for 650,000 :eek: I live in the most expensive county outside NYC. Anyone need some oxygen?


"you miss 100% of the shots you never take"

Debbie
 
I'm in the exact same situation as you, Allison. We have a 1215 sq. ft. co-op with 2 bedrooms and one large bath. A month or so ago the apartment directly beneath ours, which is identical except that it's not in as good condition, sold for $750,000. We almost fainted. I think we could sell ours for about $790,000 right now. Also like you, Allison, we sold our prior place for about twice what we paid, which helped us buy the current place. It's all pretty crazy.

Anyway, none of the numbers really matter, because we're very content where we are and don't expect to move anymore (no matter HOW many brokers call us! x( )
 
I live on the California central coast. We have two houses here. One is a 1200 square foot rental with a small yard. I bought it in 1998 for $140,000. It is now worth $450,000.

The 2400 square foot/small yard house we live in was bought for $300,000 in 1999 and is now worth $800,000.

It's freaking crazy!

Elaine
 
Another insane New Yorker here. I rent a 700 sq ft apartment for $1900. We have been wanting to buy something, but either the prices are outrageous--my sister just bought a tiny 3-bedroom house on LI for $400,000--or else the only places we could afford in the city itself are studios. It's hard enough stuffing ourselves into a one-bedroom apartment. A studio is out of the question.

The housing bubble has to burst sometime, no?
 
This housing thing is insane!! I live in Orange County, CA and we bought our house 7 years ago at 190K. It's an 1100 sq ft house, about 7 mi from the beach, with 3 bdrm, 2 baths, and on a fairly large lot. Now it's worth 600K!! We would love to sell, but after all the hard work we've put into remodeling and the market still sky high, I think we'll stay put for now.

Brenda :)
 
Yep Boston area is right up there with CA and NY. We live in a SMALL house for our town 4 bedrooms 2.5 baths and 1 acre. I think they are going for a little over 600,000. MANY million dollar plus homes.

Taxes on my small house 7,000/yr. I was at a graduation party and someone is paying 18,000 in taxes. CRAZY
 
We live next to a small vacant lot. It's for sale for $595,000 and would likely fit a maybe less than 1,000 square foot home and a small yard.

Gotta love California. Needless to say, we are renters. We've got a 1955 duplex, 2-1 maybe 800 square feet, we pay $1295 a month. DH makes about $50k/year, I make maybe $30k, and I'm in law school at $24,000/year for the next 4 years.

I don't care. I'm still buying Cathe videos!
 
Oh my! I am so depressed! I just took an assistant professor position in San Jose, CA and I will be living in faculty housing until I can find a place to rent--judging by the California posts it looks like I may never find a place that I can afford. Let's hope that tenure process goes fast!
 
Sorry, Keli! I thought you knew!!!

Congrats on the position though. A good job always helps. ;)
 
In my city for only $8,000.00 You can get a real nice two story 2800sf home in one of the best neighborhoods in the City, near the market, Great view of the Tigeris River.:)
 
I'm always looking up real estate in other places. We have our feelers out in he job market and whenever something comes up I immediately look up housing costs. Location is everything when it comes to home costs, it's crazy, it really has little to do with the house.

We live in a small town in the upper midwest and have a 2000 ft 4 bedroom house on a huge double lot. Our yard is about 150 x 200 ft (we've got 2 big garden plots and many fruit trees). Anyway we paid $74,000 10 years ago. It would sell for about 90,000 now. The same house where my family lives in CA would sell for about $300,000, and that would be without the yard.
 
Yikes. Everyone's posts are making my head spin..especially you New Yorkers.

I'm a college student, originally from CA going to school in Long Island and hoping to live somewhere in Nassau County after college.

The nice apartment buildings close to school are $2400/month for 700 sq. feet. I'm going to need a good job..and a roommate. :eek:
 
What school are you going to Kat? Hofstra? My stepson is saving to buy a house in Long Island. He has chosen the most expensive real estate market in the country, and it's not going to be easy. But he and his wife-to-be both work in LI, and that's where they want to stay.
 
Yep, Hofstra..love it. :)

Someday I'd love to have a house here..but it's going to be tough at first just to rent here..
 
Great school! Lots of luck. If you have any LI questions, my DH is an expert on all things Long Island, so let me know.
-Nancy
 
Well, I think I might win the taxes award. We paid $10,787 in real estate taxes last year for our home. We have a 4 BR, 3200 sf home w/ a 3 car garage in the Dallas suburbs.
 
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