Posted on 03/17/2006 12:55:51 PM PST by ex-Texan
Truly, I don't know what to say. The "Rent a Wreck" for home buyers....
I have a story, since the thread is cooling off. I bought a house for $72,000 cash, I remodeled it and put the best of everything into it. New doors, new woodwork, new paint, new outside, fixed the foundation....no expense was spared. I never planned on selling that house, I loved it, and still do. Unfortunately, the city council decided to ring my neighborhood with low rent, subsidized housing and apartments. I sold that wonderful, 50 year old house for....$70,000 dollars. Upshot? The 100-300,000 dollar houses next to mine....with the little old widows...are dropping through the floor also....
So I see a shacks in California..and just laugh. There will be an adjustment in prices and $30,000 homes will, again, be worth $30,000.
The real estate market in NY is still very strong. I got the stats this week on condos,coops,single family and multi-family dwellings. Demand remains very strong and supply remains low.
Because so much of NY housing is coops, there is very little speculation. You must live in your apartment yourself,no rentals allowed and most coop Boards require 25-50 cash down.
This is a great time explore the outer boroughs, although some areas in Brooklyn now have surpassed Manhattan prices.
"Let's see, $16,000 in material and labor......$733,500 for the view. Yep, sounds like a good investment to me."
LOL! You got it right. My workshop looks better than that hovel. Plus I have electricity. :-)
The problem, that what seems to be "paradise", to you, would seem like 'Hell' to other people, including (most likely) the 'homey' that lives in the 'shack'.
A long time ago, I decided that I would never live anywhere east of the Rockies. Bad weather, and too few jobs. I would have moved to other areas if I had to, but luckily I have not.
Good point....
I gave $105,000.00 for my house, the lot it stands on is now wortn $200.00.00, Now tell me about location.
Yep, sure enough, just wish those 100 people a week that are moving into the Coachella Valley, had gone with them.
Good grief when I came here 20 years ago, there was open land everywhere, now hardly an empty lot can be found.
I am a confirmed Midwesterner who loves the changes in season, likes the family-oriented culture, and appreciates not having to scrape a fortune together to buy a nice home.
I am sure a lot of Californians would hate the Indianapolis area. However, we have several California transplants in our neighborhood, and they love the houses they were able to buy almost mortgage-free with the equity they had from their homes in the San Francisco area.
So, to each his own. I won't ever live in California, and there are millions of Californians who like where they live. It's a great country!
man I do like williams though. Be nice to own a B&B there, but yeah Untill you are away from Cal you feel like you are outside the cutting edge.
Here is a good example of a $ 750,000 California home:<<<<<<<
That looks like about $40,000. worth where I live. They say it is all about location but I cannot imagine what there could be there to make that place fetch three quarters of a million.
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