Selling my House (Part 1)

[temeculaguy]

1600 rent is 200-225k in my book for investment properties here, I suppose that same math would be applied elsewhere but without prop 13 protection I might adjust downward. I feel proud of myself, i guessed 225 without knowing the rent, I’m getting pretty good at this stuff.

I’m sticking with 225k for the sake of the betting pool, that’s where it pencils out as a rental and that is where a renter decides to buy. Curiously, that is what I pay in rent and I can buy my place for 200k. I don’t buy it because it doesn’t fit my long term needs but if it did, I would at those numbers and that is where I think the buyers are valuing things right now. How they relate to rent, as opposed to appreciation because we all know that horse is dead for a while.

[fm]

[quote=sdrealtor]Is it just me? Doesn’t $300K sound like a lot of money for a house in Norman, Oklahoma? I thought homes there would be $159K.[/quote]

There are many 3 and some 4bdr homes in that range, but they are tract style, although few really look like tract homes, definitely not like tract homes in San Diego where the person next door or across the street has the same house. My mother sold a 3bdr a few miles away from the poster’s location for about that range, it was around 1600 sqft.

People in these areas can buy a home while still in college, which worked out really well for people I knew in the midwest.

[fm]

[quote=sdrealtor]Is it just me? Doesn’t $300K sound like a lot of money for a house in Norman, Oklahoma? I thought homes there would be $159K.[/quote]

There are many 3 and some 4bdr homes in that range, but they are tract style, although few really look like tract homes, definitely not like tract homes in San Diego where the person next door or across the street has the same house. My mother sold a 3bdr a few miles away from the poster’s location for about that range, it was around 1600 sqft.

People in these areas can buy a home while still in college, which worked out really well for people I knew in the midwest.

[fm]

[quote=sdrealtor]Is it just me? Doesn’t $300K sound like a lot of money for a house in Norman, Oklahoma? I thought homes there would be $159K.[/quote]

There are many 3 and some 4bdr homes in that range, but they are tract style, although few really look like tract homes, definitely not like tract homes in San Diego where the person next door or across the street has the same house. My mother sold a 3bdr a few miles away from the poster’s location for about that range, it was around 1600 sqft.

People in these areas can buy a home while still in college, which worked out really well for people I knew in the midwest.

[fm]

[quote=sdrealtor]Is it just me? Doesn’t $300K sound like a lot of money for a house in Norman, Oklahoma? I thought homes there would be $159K.[/quote]

There are many 3 and some 4bdr homes in that range, but they are tract style, although few really look like tract homes, definitely not like tract homes in San Diego where the person next door or across the street has the same house. My mother sold a 3bdr a few miles away from the poster’s location for about that range, it was around 1600 sqft.

People in these areas can buy a home while still in college, which worked out really well for people I knew in the midwest.

[fm]

[quote=sdrealtor]Is it just me? Doesn’t $300K sound like a lot of money for a house in Norman, Oklahoma? I thought homes there would be $159K.[/quote]

There are many 3 and some 4bdr homes in that range, but they are tract style, although few really look like tract homes, definitely not like tract homes in San Diego where the person next door or across the street has the same house. My mother sold a 3bdr a few miles away from the poster’s location for about that range, it was around 1600 sqft.

People in these areas can buy a home while still in college, which worked out really well for people I knew in the midwest.

[(former)FormerSanDiegan]

[quote=temeculaguy] Curiously, that is what I pay in rent and I can buy my place for 200k. [/quote]

Hey tg, can you arrange for me to buy your pad for 200K ? Heck at a GRM = 125 that’s about the same as Dallas/Fort Worth, but with much lower property tax rates (CA is ~1.2% versus 2 or 3% in Texas), and prop 13 protection. No wonder things have picked up in Temecula.

[(former)FormerSanDiegan]

[quote=temeculaguy] Curiously, that is what I pay in rent and I can buy my place for 200k. [/quote]

Hey tg, can you arrange for me to buy your pad for 200K ? Heck at a GRM = 125 that’s about the same as Dallas/Fort Worth, but with much lower property tax rates (CA is ~1.2% versus 2 or 3% in Texas), and prop 13 protection. No wonder things have picked up in Temecula.

[(former)FormerSanDiegan]

[quote=temeculaguy] Curiously, that is what I pay in rent and I can buy my place for 200k. [/quote]

Hey tg, can you arrange for me to buy your pad for 200K ? Heck at a GRM = 125 that’s about the same as Dallas/Fort Worth, but with much lower property tax rates (CA is ~1.2% versus 2 or 3% in Texas), and prop 13 protection. No wonder things have picked up in Temecula.

[(former)FormerSanDiegan]

[quote=temeculaguy] Curiously, that is what I pay in rent and I can buy my place for 200k. [/quote]

Hey tg, can you arrange for me to buy your pad for 200K ? Heck at a GRM = 125 that’s about the same as Dallas/Fort Worth, but with much lower property tax rates (CA is ~1.2% versus 2 or 3% in Texas), and prop 13 protection. No wonder things have picked up in Temecula.

[(former)FormerSanDiegan]

[quote=temeculaguy] Curiously, that is what I pay in rent and I can buy my place for 200k. [/quote]

Hey tg, can you arrange for me to buy your pad for 200K ? Heck at a GRM = 125 that’s about the same as Dallas/Fort Worth, but with much lower property tax rates (CA is ~1.2% versus 2 or 3% in Texas), and prop 13 protection. No wonder things have picked up in Temecula.

[svelte]

I’ve got a friend who has a square mile of land for sale about 5 miles outside the city limits of a fairly good sized OK city.

It is fenced, has a creek running through it, and 3/2 home over 2000 sf with garage. Asking price? $330K…for a square mile of land!!!

Of course, he bought it about 15 years back for under $80K.

[svelte]

I’ve got a friend who has a square mile of land for sale about 5 miles outside the city limits of a fairly good sized OK city.

It is fenced, has a creek running through it, and 3/2 home over 2000 sf with garage. Asking price? $330K…for a square mile of land!!!

Of course, he bought it about 15 years back for under $80K.

[svelte]

I’ve got a friend who has a square mile of land for sale about 5 miles outside the city limits of a fairly good sized OK city.

It is fenced, has a creek running through it, and 3/2 home over 2000 sf with garage. Asking price? $330K…for a square mile of land!!!

Of course, he bought it about 15 years back for under $80K.

[svelte]

I’ve got a friend who has a square mile of land for sale about 5 miles outside the city limits of a fairly good sized OK city.

It is fenced, has a creek running through it, and 3/2 home over 2000 sf with garage. Asking price? $330K…for a square mile of land!!!

Of course, he bought it about 15 years back for under $80K.

[Author]

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