“I remember a pretty nice house in Bird Rock going to the court house steps at 165k. I don’t know what it went for but those were indeed crazy times.”
_________________________
I doubt anything sold for anywhere near that amount in Bird Rock in the mid-90’s trough. Too low. I was perusing homes in the area during that time frame in the $400-500K range – 3/2, less than 2000 sq. ft., modest and in need of some sprucing up. I don’t doubt that some fixers sold for under $400K.
Looking at let’s say $450K in the mid-90’s – that probably equates to about $600K today. Jumbo mortgages back then were pressing 9%. I haven’t run the numbers, but I would guess that a trough of around $800K today would equate to an estimated $450K trough in the mid-90’s – conventional financing, apples to apples of course.
