Upper MId to Lower High End Market in NCC

[sdrealtor]

Thats not it nj and my point was to find out what people think would be reasonable appreciation over 22 years. It would be a good idea to look at what has happened to the CPI and median HH incomes as a starting point.

BG,
This pool was bigger and had all that and more. That is also probably a price for a pool and not all the hardscaping around it. Even so I allowed 65K for a pretty elaborate pool, hardscape, landscape, window treatments, appliances etc which I think is pretty reasonable even for 1988. I didnt consider any upgrades and beleive that $500K is about the right cost for that house as it is today in 1988. SO the question is still out there.

It had a nice quiet location, tucked away on a quiet street with privacy in the yard. No powerlines anywhere close and very good schools nearby if that helps. What do folks think it was priced at and what should it priced at?

[bearishgurl]

It is priced at $1,175K and should be priced at $875K. And no, I have NOT gone to anyplace (sdlookup, etc) to try to find it.

And I will assume it is in your “farm” area.

[bearishgurl]

It is priced at $1,175K and should be priced at $875K. And no, I have NOT gone to anyplace (sdlookup, etc) to try to find it.

And I will assume it is in your “farm” area.

[bearishgurl]

It is priced at $1,175K and should be priced at $875K. And no, I have NOT gone to anyplace (sdlookup, etc) to try to find it.

And I will assume it is in your “farm” area.

[bearishgurl]

It is priced at $1,175K and should be priced at $875K. And no, I have NOT gone to anyplace (sdlookup, etc) to try to find it.

And I will assume it is in your “farm” area.

[bearishgurl]

It is priced at $1,175K and should be priced at $875K. And no, I have NOT gone to anyplace (sdlookup, etc) to try to find it.

And I will assume it is in your “farm” area.

[CA renter]

[quote=sdrealtor]FYI, I saw a property today that was sold new for $435K in 1988. It was on a 1/2 acre well landscaped with a pool. Experience tells me people spend at least 10% on landscaping/window treatments/paint and about 20% when they put in a pool. Lets say they paid $500K in 1988. The house was in very nice condition but all original. Let see some guesses as to what you think the house was priced at today and what you all think it should be fairly priced at today.[/quote]

We’d need to know an address or at least an address of a comparable house/lot/location in the same neighborhood. Also, if it’s a custom home or a tract home with HOAs or other fees, etc. It totally depends on whether it’s in LC, Enc, RSF, etc., too.

This is just pulling a number out of the air, but if it’s around here, my WAG is about $900K-$1,000,000 if it’s not updated. Of course, I’ve seen some in that price range from the late 80s (another peak of the more “normal” housing cycle, and we didn’t see those prices until 1999-2001) now listed for only $700-$800K, so it really depends on where it is and what it is.

edit: Let it be known that I do NOT believe “real estate always goes up.” I think that cost inflation can actually take money away from what can be allocated to housing expenses. For instance, if health insurance for a family was $200 two decades ago, but is $1,200 today, and if college expenses have increased in the same manner (or food, energy expenses,etc.), it leaves LESS money for housing unless wages have risen proportionately for a large enough portion of the population. I also think that the decimation of defined-benefit pension plans and other “social safety nets” leaves less money for housing, since people have to save more for retirement or other emergencies. Then, there’s the debt burden so many have today. What we pay in interest (yes, rates are lower, but the debt burden is higher) takes away from what we can spend on everything else, too.

[CA renter]

[quote=sdrealtor]FYI, I saw a property today that was sold new for $435K in 1988. It was on a 1/2 acre well landscaped with a pool. Experience tells me people spend at least 10% on landscaping/window treatments/paint and about 20% when they put in a pool. Lets say they paid $500K in 1988. The house was in very nice condition but all original. Let see some guesses as to what you think the house was priced at today and what you all think it should be fairly priced at today.[/quote]

We’d need to know an address or at least an address of a comparable house/lot/location in the same neighborhood. Also, if it’s a custom home or a tract home with HOAs or other fees, etc. It totally depends on whether it’s in LC, Enc, RSF, etc., too.

This is just pulling a number out of the air, but if it’s around here, my WAG is about $900K-$1,000,000 if it’s not updated. Of course, I’ve seen some in that price range from the late 80s (another peak of the more “normal” housing cycle, and we didn’t see those prices until 1999-2001) now listed for only $700-$800K, so it really depends on where it is and what it is.

edit: Let it be known that I do NOT believe “real estate always goes up.” I think that cost inflation can actually take money away from what can be allocated to housing expenses. For instance, if health insurance for a family was $200 two decades ago, but is $1,200 today, and if college expenses have increased in the same manner (or food, energy expenses,etc.), it leaves LESS money for housing unless wages have risen proportionately for a large enough portion of the population. I also think that the decimation of defined-benefit pension plans and other “social safety nets” leaves less money for housing, since people have to save more for retirement or other emergencies. Then, there’s the debt burden so many have today. What we pay in interest (yes, rates are lower, but the debt burden is higher) takes away from what we can spend on everything else, too.

[CA renter]

[quote=sdrealtor]FYI, I saw a property today that was sold new for $435K in 1988. It was on a 1/2 acre well landscaped with a pool. Experience tells me people spend at least 10% on landscaping/window treatments/paint and about 20% when they put in a pool. Lets say they paid $500K in 1988. The house was in very nice condition but all original. Let see some guesses as to what you think the house was priced at today and what you all think it should be fairly priced at today.[/quote]

We’d need to know an address or at least an address of a comparable house/lot/location in the same neighborhood. Also, if it’s a custom home or a tract home with HOAs or other fees, etc. It totally depends on whether it’s in LC, Enc, RSF, etc., too.

This is just pulling a number out of the air, but if it’s around here, my WAG is about $900K-$1,000,000 if it’s not updated. Of course, I’ve seen some in that price range from the late 80s (another peak of the more “normal” housing cycle, and we didn’t see those prices until 1999-2001) now listed for only $700-$800K, so it really depends on where it is and what it is.

edit: Let it be known that I do NOT believe “real estate always goes up.” I think that cost inflation can actually take money away from what can be allocated to housing expenses. For instance, if health insurance for a family was $200 two decades ago, but is $1,200 today, and if college expenses have increased in the same manner (or food, energy expenses,etc.), it leaves LESS money for housing unless wages have risen proportionately for a large enough portion of the population. I also think that the decimation of defined-benefit pension plans and other “social safety nets” leaves less money for housing, since people have to save more for retirement or other emergencies. Then, there’s the debt burden so many have today. What we pay in interest (yes, rates are lower, but the debt burden is higher) takes away from what we can spend on everything else, too.

[CA renter]

[quote=sdrealtor]FYI, I saw a property today that was sold new for $435K in 1988. It was on a 1/2 acre well landscaped with a pool. Experience tells me people spend at least 10% on landscaping/window treatments/paint and about 20% when they put in a pool. Lets say they paid $500K in 1988. The house was in very nice condition but all original. Let see some guesses as to what you think the house was priced at today and what you all think it should be fairly priced at today.[/quote]

We’d need to know an address or at least an address of a comparable house/lot/location in the same neighborhood. Also, if it’s a custom home or a tract home with HOAs or other fees, etc. It totally depends on whether it’s in LC, Enc, RSF, etc., too.

This is just pulling a number out of the air, but if it’s around here, my WAG is about $900K-$1,000,000 if it’s not updated. Of course, I’ve seen some in that price range from the late 80s (another peak of the more “normal” housing cycle, and we didn’t see those prices until 1999-2001) now listed for only $700-$800K, so it really depends on where it is and what it is.

edit: Let it be known that I do NOT believe “real estate always goes up.” I think that cost inflation can actually take money away from what can be allocated to housing expenses. For instance, if health insurance for a family was $200 two decades ago, but is $1,200 today, and if college expenses have increased in the same manner (or food, energy expenses,etc.), it leaves LESS money for housing unless wages have risen proportionately for a large enough portion of the population. I also think that the decimation of defined-benefit pension plans and other “social safety nets” leaves less money for housing, since people have to save more for retirement or other emergencies. Then, there’s the debt burden so many have today. What we pay in interest (yes, rates are lower, but the debt burden is higher) takes away from what we can spend on everything else, too.

[CA renter]

[quote=sdrealtor]FYI, I saw a property today that was sold new for $435K in 1988. It was on a 1/2 acre well landscaped with a pool. Experience tells me people spend at least 10% on landscaping/window treatments/paint and about 20% when they put in a pool. Lets say they paid $500K in 1988. The house was in very nice condition but all original. Let see some guesses as to what you think the house was priced at today and what you all think it should be fairly priced at today.[/quote]

We’d need to know an address or at least an address of a comparable house/lot/location in the same neighborhood. Also, if it’s a custom home or a tract home with HOAs or other fees, etc. It totally depends on whether it’s in LC, Enc, RSF, etc., too.

This is just pulling a number out of the air, but if it’s around here, my WAG is about $900K-$1,000,000 if it’s not updated. Of course, I’ve seen some in that price range from the late 80s (another peak of the more “normal” housing cycle, and we didn’t see those prices until 1999-2001) now listed for only $700-$800K, so it really depends on where it is and what it is.

edit: Let it be known that I do NOT believe “real estate always goes up.” I think that cost inflation can actually take money away from what can be allocated to housing expenses. For instance, if health insurance for a family was $200 two decades ago, but is $1,200 today, and if college expenses have increased in the same manner (or food, energy expenses,etc.), it leaves LESS money for housing unless wages have risen proportionately for a large enough portion of the population. I also think that the decimation of defined-benefit pension plans and other “social safety nets” leaves less money for housing, since people have to save more for retirement or other emergencies. Then, there’s the debt burden so many have today. What we pay in interest (yes, rates are lower, but the debt burden is higher) takes away from what we can spend on everything else, too.

[sdrealtor]

I guess I need to phrase my question better. Lets say location is irrelevant. This isnt a trick question. I always see people getting crazy over the prices and appreciation. What I saw gave me reason for pause and I wonder what people’s expectations are. I dont think it even matters that its a house. In 1987 I bought myself a car that I paid $16K for. I just checked and a comparable car is now about 32K. To me 2X over that time period seems about right but I am curious as to what others think.

What would be reasonable appreciation of an asset over 22 years? I think I need to set up a poll if I only knew how.

[sdrealtor]

I guess I need to phrase my question better. Lets say location is irrelevant. This isnt a trick question. I always see people getting crazy over the prices and appreciation. What I saw gave me reason for pause and I wonder what people’s expectations are. I dont think it even matters that its a house. In 1987 I bought myself a car that I paid $16K for. I just checked and a comparable car is now about 32K. To me 2X over that time period seems about right but I am curious as to what others think.

What would be reasonable appreciation of an asset over 22 years? I think I need to set up a poll if I only knew how.

[sdrealtor]

I guess I need to phrase my question better. Lets say location is irrelevant. This isnt a trick question. I always see people getting crazy over the prices and appreciation. What I saw gave me reason for pause and I wonder what people’s expectations are. I dont think it even matters that its a house. In 1987 I bought myself a car that I paid $16K for. I just checked and a comparable car is now about 32K. To me 2X over that time period seems about right but I am curious as to what others think.

What would be reasonable appreciation of an asset over 22 years? I think I need to set up a poll if I only knew how.

[sdrealtor]

I guess I need to phrase my question better. Lets say location is irrelevant. This isnt a trick question. I always see people getting crazy over the prices and appreciation. What I saw gave me reason for pause and I wonder what people’s expectations are. I dont think it even matters that its a house. In 1987 I bought myself a car that I paid $16K for. I just checked and a comparable car is now about 32K. To me 2X over that time period seems about right but I am curious as to what others think.

What would be reasonable appreciation of an asset over 22 years? I think I need to set up a poll if I only knew how.

[Author]

Posts