Since I am temporarily living on the East coast I figured I would like to contribute something from this side of the US – just so nobody feels left out.

Here is the background: I am living in Virginia Beach, VA in a home I purchased in 2002. Current values for homes in my neighborhood are about 250-290K depending on layout and fit and finish. Original purchase price was 174,900 in 2002 for a 3br/2.5ba 1900 sqft with a 1 car garage. HOA is now 138 a month.

Anyway, a new development was opened next door a few years ago. Basically, it is a McMansion farm. Homes started at 800K and went up from there. Now I can tee up a golf ball on my front lawn and hit a decent drive and have it land on the lawn of one of those monstrosities. I was befuddled when hey started building the spec homes in that place. We are nowhere near the beach(it takes about 45 minutes to get there through 5/805-merge-type-traffic) and abuts to a empty condo farm on the other side.

The cheapest house for sale in there right now is about 850K and most are closer to 1M. About 75% of the lots are empty and nothing has moved in that development in, well, ever that I can recall.

Please bear in mind that in this market:
The 25th percentile home is 219.9K.
The 50th percentile home is 299.9K.
The 75th percentile home is 449,950K. Just for context you know…

I have some pictures I took the other day for your enjoyment. What is the best way to post them? Photobucket or something like that? If anyone is interested in seeing them just let me know the best way to post them. It might provide a welcome respite from all the political posting of late.