[quote=sdcellar]The 2000 lot is the same as the 2001 lot. The 1999s, same thing. I don’t know what ’98 place you’re talking about, but yeah, there are view lots near you (you’d have to adjust downward for that). You’re just looking at so much stuff it’s making your head spin. There was this thing called the bubble, you may have heard about it. Again, the 2001 looks like a tad bit of an outlier, we’re supposed to be using 2000, I gave you the average, a solid comp and you’re going further and further away from it. As I was saying, we can extrapolate from both ends, but when you have actuals…[/quote]
I said the ’00 lot is the same as the ’01 lot, that’s why I was wonder why there was a 44% increase w/in 1 year. Are you trying to say the bubble is the cause of the 44% increase between ’00 and ’01? I’ve been here long enough to have heard of the bubble, but I don’t believe the bubble started in earnest in 2000 to cause a 44% increase in 1 year.
You say the ’01 is an outlier and I’m telling you it’s not, because the houses in this development that sold in ’01 are all around that price. Since you obviously know the area, you can also verify what I said is true. The ’98 sold comp is a view lot AND it was sold HIGHER than the ’99 comps, that’s why I said the price dropped a good 5-10% between ’98 and ’99. If you adjust for view lot vs non view lot, ’98 sold comp is probably = to ’00 comp as well.
Lets take a step back and use the 2000 comp. My payment is 17%-22% higher than the payment would be in 2000 using the 2000 comp. Which is still less than the 50% income increase Rich stated between 2000-2010.
BTW, my original statement is still true and you’ve only changed the subject. Just to refresh your memory, here’s what I said:
[quote=AN]
Here’s my data point. 24% above 2001 price (I can only find one good comp around 2000-2001). Using the price they paid and the rate when they paid vs the price I paid and the rate I got, I’m paying about 5% LESS per month that the comp in 2001.[/quote]
Please back up your statement of the 2001 comp being an outlier. Bringing up ’99 and ’00 comp doesn’t prove that the ’01 comp is an outlier. To help you out, here are some more comps from ’01:
1800 sq-ft $313k
2000 sq-ft $360k
2000 sq-ft $359k
2000 sq-ft $340k
2300 sq-ft $359k
2300 sq-ft $359k
2300 sq-ft $343k
2300 sq-ft $338k
