- This topic has 1,443 replies, 45 voices, and was last updated 13 years, 1 month ago by
an.
-
AuthorPosts
-
November 19, 2010 at 10:52 PM #633451October 28, 2011 at 12:21 AM #731458
jstoesz
ParticipantI am resurrecting this old thread…
MN is looking better by the day. The housing costs less than half, and it is making it sound even more attractive.
The fact is, in other states you can live in the neighborhoods you like, and you can afford them.
Freak, my brother is about to buy a townhome in eagan (suburb of minneapolis) and I could practically put the place on my credit card.
Check out this place. We were looking at this place, before it sold. It is one of the best neighborhoods in the city.
This is what you get for 500k in Minneapolis. A freaking sauna and the rest. Granted you will need it in MN.
One other thought. MN isn’t even cheap compared to many states, it is reasonable but not cheap. I know many CA’ians can’t put MN on a map, but there is many great places outside of the bubble.
SD is a lost cause, there are too many people who will spend too much of their disposable income on crap. The city is doomed, because the average person is financially illiterate. Detroit anyone?
move along.
October 28, 2011 at 12:25 AM #731459sdrealtor
ParticipantLet me get this straight? I am supposed to covet a 3 beds, 1 bath, 1,512 square feet house built in 1928 for $520K in Minnesota? Really? Shouldnt that be closer to $200K?
October 28, 2011 at 12:29 AM #731460Participantdeleted
October 28, 2011 at 12:30 AM #731461Participant[quote=sdrealtor]Let me get this straight? I am supposed to covet a 3 beds, 1 bath, 1,512 square feet house built in 1928 for $520K in Minnesota? Really? Shouldnt that be closer to $200K?[/quote]
the sq footage does not include the finished basement. But I understand your disagreement.
btw…you are freaking quick. Props to you!
October 28, 2011 at 3:48 AM #731469CA renter
Participant[quote=sdrealtor]Let me get this straight? I am supposed to covet a 3 beds, 1 bath, 1,512 square feet house built in 1928 for $520K in Minnesota? Really? Shouldnt that be closer to $200K?[/quote]
Lord help me, I’m agreeing with you. 😉
No offense, jstoez, because that IS a beautiful house. It’s just that for $500K, it should be a freaking mansion on at least a couple of acres if it’s in MN.
Still, I tend to agree with you about SD. It is waaay overpriced, and people here are willing to spend too much on pretty much everything, especially housing.
October 28, 2011 at 7:55 AM #731475bearishgurl
ParticipantSold Homes near 814 E Minnehaha Pkwy
5021 Gladstone Ave, Minneapolis MN 1.04 mi – $525,000 08/15/11 3 1 1,925
4833 11th Ave S, Minneapolis MN 0.26 mi – $353,900 08/10/11 2 1 1,480
5226 10th Ave S, Minneapolis MN 0.29 mi – $350,000 08/24/11 4 1 1,960
5515 12th Ave S, Minneapolis MN 0.67 mi – $403,100 07/11/11 3 1 1,633
5555 11th Ave S, Minneapolis MN 0.73 mi – $343,000 08/19/11 4 1 1,617jstoesz, the two on 11th and the one on 12th are the only comps to your 2006 “sold comp.” (Properties 2, 4 & 5.) Properties 1 and 3 are larger and thus would command a higher price (and lower ppsf). Not sure what the lot size is around there, but it is clear that whoever paid $520K in 2006 is grossly underwater by now (or has lost a large downpayment on paper, anyway). Be GLAD you didn’t decide to make an offer on it in 2006, when sellers across the country were still in “la-la land.” (Some still are, lol.)
-4833 S. 11th sold for $353,900 on 8/10/11 ($239.12 sf).
-5515 S. 12th sold for $403,100 on 7/11/11 ($247.34 sf).
-5555 S. 11th sold for $353,000 on 8/19/11 ($218.31 sf).
Compare to these SD sold comps:
http://www.sdlookup.com/MLS-100052934-3519_Grim_Ave_San_Diego_CA_92104
NP (narrow street but $238 sf)
http://www.sdlookup.com/MLS-110012882-3047_Marquette_St_San_Diego_CA_92106
Loma Portal mid century (both SFR’s and apts on this st) $238 sf
http://www.sdlookup.com/MLS-110050666-5427_Collier_Ave_San_Diego_CA_92115
El Cerrito cosmetic fixer $225 sf
http://www.sdlookup.com/MLS-110036611-4840_69th_Pl_San_Diego_CA_92115
College corner lot $228 sf (fabulous buy, jstoesz!)
I could go on. No, these are not “tudors” on PL’s finest streets. But they are comparable in price to Minn, MN apples to apples. The charming ‘hoods and walkability that you are looking for are THERE (SANS the frozen screen door 8 mos per yr).
Again, why aren’t you still considering your “beloved” SD, jstoesz?
October 28, 2011 at 8:12 AM #731476ParticipantYeah, I don’t know why it was listed so small, when I saw it before it had 2000+ sq ft.
so I pulled up another site that listed it for 2138 sq ft, maybe that is closer to the size you all would expect for a house that expensive.
I just ask myself, what would this house cost in mission hills? This is actually a better more walkable neighborhood than mission hills (its on the parkway, a 50 mile loop of dedicated biking trails), but it is the closest I can get in SD for comparison.
It feels most like the wooded area, but that is not a fair comparison because of the ocean and all that. I think mission hills is a more than fair comparison. Any takers. A .25 acre lot with a beautifully kept house complete with hot tub and sauna. That has to cost more than a million.
BG, I understand you have not been to this neighborhood, but the houses you comp’ed are in terrible areas by comparison. This is more like having balboa across your lawn. The one in PL, I actually have been to, I think I saw homeless people sleeping in the back yard, not OWSers genuine homeless people. My back would get tired from picking up the empty cobras cans. Great price though, if midway ever cleans up they will do well.
October 28, 2011 at 8:27 AM #731478Participantone more data point.
This is the house my family owned for 20 years, and it recently traded hands.
http://www.zillow.com/homedetails/5350-Grand-Ave-S-Minneapolis-MN-55419/1830060_zpid/
What is that 140 bucks a sq ft…not including the basement…
Again as good a neighborhood as mission hills, but it does not border the parkway just a few houses off it.
October 28, 2011 at 8:35 AM #731481all
ParticipantMinneapolis. That’s where Brenda and Brandon moved from, right? It looked like a very cold place.
October 28, 2011 at 9:43 AM #731486an
Participant[quote=jstoesz]one more data point.
This is the house my family owned for 20 years, and it recently traded hands.
http://www.zillow.com/homedetails/5350-Grand-Ave-S-Minneapolis-MN-55419/1830060_zpid/
What is that 140 bucks a sq ft…not including the basement…
Again as good a neighborhood as mission hills, but it does not border the parkway just a few houses off it.[/quote]
Now, that’s the kind of value I expect from MN. 2500+ sq-ft on 14k+ sq-ft lot, sold for $360k.October 28, 2011 at 10:38 AM #731489ParticipantStill seems expensive to me. I grew up in South Jersey in basically the Carmel Valley equivalent with median HH income in my zip currently around 123K (median HH income for that ZIP in MN is about 85K). The high school was the Torrey Pines of South Jersey which is basically half of the Philly suburban area. You can get into Philly from that house in about 20 minutes by car or light rail. The house I grew up is about the same size on a similar size lots and I just Zillowed it at 320K.
360K still seems like a lot to me for MN
October 28, 2011 at 11:00 AM #731491ParticipantI don’t know NJ or MN, so maybe this MN is still expensive relative to NJ, but it’s much more reasonable than SD. I guess NJ offer even better value than MN. I guess most cities in America offer better value than SD.
October 28, 2011 at 11:36 AM #731492ParticipantIt all depends what you value:)
October 28, 2011 at 2:33 PM #731514
svelteParticipant[quote=jstoesz]Sorry to bump this back into the roll, but I thought I would announce that today is my last day at my current employment. So a week to hang out with family and then up to placerville!
[/quote]Placerville?
Wait, did you or did you not move to MN last year? Last I checked, Placerville was in Calif – or is there another one in MN?
-
AuthorPosts
- You must be logged in to reply to this topic.