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Are home prices too $$$$ to buy in your area?

L

Leejai

Golden Member
I was looking to buy my first home....Bay Area, around the Penninsula. This past Sunday I couldn't believe how many 2 bedroom 1 baths were going for 600K+ and then 3 bedroom 2 bathrooms for 800K+. Maybe it's time for me to get out of the bay. Then you tack on 1.25% for CA Property tax, i don't know if i can afford this state.

Is your area any better?

Oh, and these are for actual homes, not condos/townhouses
 
Nebraska - about $100 grand for that. But it really does depend on other factors - land size, house age and quality, etc.
 
Originally posted by: FeathersMcGraw
Originally posted by: Leejai
I was looking to buy my first home....Bay Area, around the Penninsula.
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^
That would be your problem, right there.
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lol. no kidding. only thing is i've grown accustomed to only having two seasons. I sure don't miss winter or summer.
 
I live in the Bay Area. There is pretty much no chance I will ever be able to afford a home in this area, unless I happen to win the lottery.
 
Family member bought a 2br/2bth/1car for 110K ish in S.FL last year.
I sold a villa 3br/2bth/1car for about the same, before moving to my current home.

Add a family room and 2car garage and expect to pay ~$160K for a zerolot line.

Anyway, it really depends on location and land. Small lot out of the beat and path can be cheap. Pay more for location and land. The home prices are fairly consistent after you factor in that.
 
Seattle's only a little better. Throw on all the damn taxes too and it is getting harder and harder to hold on. I was already priced out of the neighborhood I grew up in and now I may get priced out of the city as well.
 
Birmingham suburbs you can get a new 4 bedroom for under $200k. Not much under 200k, but under. 3 bedrooms new start around $130k for a small one. $150k will get you a nice 3 bedroom garden home not tooo far out of the city with 2 bath, two car garage, yard, etc. We did that. Houses prices are not bad at all 🙂
 
Way lower than 200k here in Panama City, FL 😛 My parents bought their house - a 4 bedroom, 2 bath, dining room, florida room, and 2 car garage - 2500sq ft - for 135k 4 years ago, but now it appraises at 179k 🙂 The appraiser said the house was in a "upper middle, lower high" class neighborhood.
 
225k where I just bought my house. The same house west of the highway about 3 minutes away is 260k...as you go closer to Boulder, the same house gets to be about 300k...

With housing prices as unaffordable as they are I bought immediately

130-145 per square foot
 
For that same 800K here in S. Oregon, you could get a 6000 sq. ft mansion with servant quarters, a pool, and a tennis court.

Brand new 3 bdr 2 bth 1500-2000 sq. ft ranges from 150k-200k. Generally pretty close to $100/sq.ft for new construction on a medium size lot.

I have a very hard time understanding how anyone can afford to buy those houses in the bay area. I'm a software dev making 50k a year. Even if I could double my salary in the bay area, there is no way in hell I could afford a house.
 
Originally posted by: Shanti
For that same 800K here in S. Oregon, you could get a 6000 sq. ft mansion with servant quarters, a pool, and a tennis court.

Brand new 3 bdr 2 bth 1500-2000 sq. ft ranges from 150k-200k. Generally pretty close to $100/sq.ft for new construction on a medium size lot.

I have a very hard time understanding how anyone can afford to buy those houses in the bay area. I'm a software dev making 50k a year. Even if I could double my salary in the bay area, there is no way in hell I could afford a house.
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Exactly...
 
Originally posted by: Regs
Wow! NJ is bad too, no where near as bad as CA though. That's just horrible.
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Kinda depends WHERE in Jersey you are talking vs WHERE in CA.

there are plenty of places 40 to 50 miles west of LA that is reasonable compared to some of the expensive areas in NJ.

overall NJ is pretty bad tho. we sold our 4 bedroom 2.5 bathroom 2400 sq ft house in a not so great part of NJ for $365k.

 
When I was living in San Diego about 10 years ago, bay area prices were outrageous but SD wasn't too bad at all. Seems like the high bay area prices have spread and So. Cal is almost as bad now. Sucks too, because if I could afford it, I would probably try to find a job and move to SD.
 
I just bought my first home. 2 beds 2 baths 1 car garage and a huge screened in inground pool for 83k. It needs some light remodeling but structuraly its top notch. I am in a far suburb of Tampa Fl.
 
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