Big Country Posted August 8, 2007 Share Posted August 8, 2007 We've been in our house roughly 4 years. I'm pretty sure she has been in hers about the same amount of time. She might have even bought hers a little bit before we bought ours. Not discounting that house prices in cali are insane, but, out of curiousity, how much has her home value increased compared to your in that time frame? The reason I ask is that, using my BIL in Nashville for comparison, they bought a house around the same time we did. I believe they pad at the time 225 for it.. sold it a couple years later for maybe 240. THen, their most recent house they paid maybe 325 for it, sold it a couple years later for 340 I think. Basically they made maybe 40K on their house over the 4.5 year time period. On the other side, I paid about 360K for mine, and as noted earlier could probably sell for around 650K now.. 4.5 years later. So, I will not argue that the real estate market in Cali is insane, so much so that it is next to impossible for young first time home buyers to enter the market here in most cases, but, we, and many others have made a killing. Quote Link to comment Share on other sites More sharing options...
muck Posted August 8, 2007 Share Posted August 8, 2007 (edited) BC ... sell your house and move to KC for a few years (i.e., low-priced houses) and wait for CA prices to crater ... then move back. Just a thought (if you think CA residential real estate prices will crater, that is). Edited August 8, 2007 by muck Quote Link to comment Share on other sites More sharing options...
Perchoutofwater Posted August 8, 2007 Share Posted August 8, 2007 Not discounting that house prices in cali are insane, but, out of curiousity, how much has her home value increased compared to your in that time frame? The reason I ask is that, using my BIL in Nashville for comparison, they bought a house around the same time we did. I believe they pad at the time 225 for it.. sold it a couple years later for maybe 240. THen, their most recent house they paid maybe 325 for it, sold it a couple years later for 340 I think. Basically they made maybe 40K on their house over the 4.5 year time period. On the other side, I paid about 360K for mine, and as noted earlier could probably sell for around 650K now.. 4.5 years later. So, I will not argue that the real estate market in Cali is insane, so much so that it is next to impossible for young first time home buyers to enter the market here in most cases, but, we, and many others have made a killing. I'm not real sure. I bought it really cheap from a couple who were going through a divorce, couldn't afford it and had to get out of it. I paid just of $68/sqft. Most houses like mine sell between $95 to $105 depending o the location. All of the houses near me are 8 years old or less, and two of them have sold since I've been here, and neither one of them is a good barometer, because one of them was sold furnished, and the other one was one of the smaller houses around, and it wasn't finished out as nice as the rest of them. If I had to guess, my property value has probably increased by 40% so since I've bought my house, but that is based upon me buying it really cheap. Most haver probably only gone up 20-25% or so. The tax appraisal on my house has gone up roughly $75,000 but they don't know the size of my house. They have no idea how much living space I have on the second floor, and I'm not about to let them in the house to find out. Quote Link to comment Share on other sites More sharing options...
spain Posted August 8, 2007 Share Posted August 8, 2007 Not discounting that house prices in cali are insane, but, out of curiousity, how much has her home value increased compared to your in that time frame? The reason I ask is that, using my BIL in Nashville for comparison, they bought a house around the same time we did. I believe they pad at the time 225 for it.. sold it a couple years later for maybe 240. THen, their most recent house they paid maybe 325 for it, sold it a couple years later for 340 I think. Basically they made maybe 40K on their house over the 4.5 year time period. On the other side, I paid about 360K for mine, and as noted earlier could probably sell for around 650K now.. 4.5 years later. So, I will not argue that the real estate market in Cali is insane, so much so that it is next to impossible for young first time home buyers to enter the market here in most cases, but, we, and many others have made a killing. Our last house was 3800 square feet and sat on a .3 acre postage stamp lot. We built it new and move in in October 2001. Sold it August 2005. Made a $100,000 profit. Our new house, we moved into in August 2005. A couple months later, Nissan decided to move from Los Angeles to Franklin. Our house went up in value at least $50,000 over night. 2 houses with our exact floor plan, but without as nice a lot have sold for $300,000 more than we paid for ours just 2 years ago. Your BIL needs a new realtor. No way he shouldnt be making more on real estate in Williamson County. Quote Link to comment Share on other sites More sharing options...
spain Posted August 8, 2007 Share Posted August 8, 2007 BC ... sell your house and move to KC for a few years (i.e., low-priced houses) and wait for CA prices to crater ... then move back. Just a thought (if you think CA residential real estate prices will crater, that is). This might terrify you Muck, but KC reminds me an aweful lot of Nashville... Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted August 9, 2007 Share Posted August 9, 2007 Thats a great rate. I have a 5% 30 year fixed. Being in the business, I pulled the trigger at the right time. I also refied at exactly the right time - 5.00% 15 year fixed. Love it. Got well over $150,000 in equity in the house now, not moving for at least ten years. Quote Link to comment Share on other sites More sharing options...
muck Posted August 9, 2007 Share Posted August 9, 2007 This might terrify you Muck, but KC reminds me an aweful lot of Nashville... ...doesn't terrify me in the least. Does it you!? Quote Link to comment Share on other sites More sharing options...
spain Posted August 9, 2007 Share Posted August 9, 2007 ...doesn't terrify me in the least. Does it you!? No, not really! I wish I could get the franchise for JackStack BBQ for Nashville. But I dont know if I could get these dang Johnny Rebs to switch from pork BBQ over to beef or not. Also, really dig the Hereford House! Great food and a very nice town. Its definitely one of the better medium size towns in the country to live. Plus, they have casino's!! Quote Link to comment Share on other sites More sharing options...
muck Posted August 9, 2007 Share Posted August 9, 2007 Next time you're in KC, LMK. CD and I'll put together a little bit of cards out at my place... Quote Link to comment Share on other sites More sharing options...
DKF Posted August 9, 2007 Share Posted August 9, 2007 (edited) No, not really! I wish I could get the franchise for JackStack BBQ for Nashville. But I dont know if I could get these dang Johnny Rebs to switch from pork BBQ over to beef or not. Also, really dig the Hereford House! Great food and a very nice town. Its definitely one of the better medium size towns in the country to live. Plus, they have casino's!! Beef BBQ Suffering succotash what is wrong with you??? Don't even talk that heresey. Edited August 9, 2007 by DKF Quote Link to comment Share on other sites More sharing options...
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