[quote=sdrealtor]You dont buy SD Case-Shiller to live in or rent out you buy a home. Its an index. I think we all know its flawed with limitations. Its best use is directionality rather than real magnitude. My example was real actual example not some derived mathematical calculation.
Real example: A model match to my neighbors house with far inferior lot sold across the street from us in June 2013. We have a perfect example! It sold for 10% more than the neighbors Nov 2003 price. The lot premium would add another 5 to 10%. Had my neighbor sold his house in June 2013 (and I wish he did as he’s not my favorite) the price wouldve been close to 20% above the Nov 2003. Indexes dont tell the real story. The real story tells the real story
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It is with great joy and satisfaction I can report my least favored neighbor sold his home a couple weeks ago. I would’ve been happy if he sold it for $1 just to be rid of him but he solld it for 2.5 X what he paid in Fall 2003. Nice to reflect upon that as I celebrate another successful lap around the sun today. I wonder how davelj is making out down in Colombia these days?
