Sorry, Jimmy. These 2 houses should be in the low-200 to mid-200 range. They are way overpriced. If you build it (savings), it(nicer house) will come.
Wow, low to mid 200k? Really? @ 6% and 0% down,low to mid 200k will yield 1200-1500/month mortgage fully amortized. That’s before any tax break. The rent for this place should be around 1700-1800/month. You can’t even rent a 2bed/2bath apartment in MM for 1200, they go for around 1300-1500/month on this side of MM.
Even at the bottom of the last cycle, older & smaller home in south west MM was about $200/month more, after 10% down, than the rent of 2 bed/2 bath apartment in Summerset. So, although I’d love to see it go down to low 200k, I highly doubt it’ll happen unless rent collapse as well.
