Home Prices

[hausdok]

Well,

It's finally gone from the absurd to the obscene. The median price of a single-family home in King County just hit $419,500 !!!. Hell, when I moved here 10 years ago it was only about $265,000 !!!

At this rate, I'm going to have to start a new profession called Home & Apartment Inspector because only the well-heeled first-time home buyers will be able to purchase.

Now, more than ever, I think I should be selling this stuff instead of inspecting it.

Sheesh,

ONE TEAM - ONE FIGHT!!!

Mike

[mgbinspect]

It's pretty much the same here.

Prices have practically doubled in 10 years and new construction is out of control.

Kids are buying the older and smaller homes in speculative neighborhoods needing work.

[Les]

This is the curious thing - Here in Mid Mich 265,000 will get you a really nice place. $400,000 will get you a cornfield palace. $500,000 will put you in a palace on a lake. Median price in Mid Mich is $149,000 for existing. Yet all us inspectors charge about the same! My first house was $4,300 and a brick ranch 3bdrms 1 1/2 bath new was $12,300.

[kurt]

Michigan is an aberration, largely due to the auto industry stuff. Around my shack (if one isn't on the big lake), $250,000 get's a nice house.

[Paul MacLean]

The average home around here is about $265,000. Austin has been the highest priced market in Texas, but is still cheap compared to California, Florida and others. I do inspections regularly for California investors buying our "cheap" real estate. While other areas of the country are cooling off, things are still going strong here. We didn't get hot as fast as other places.

[DonTx]

Originally posted by hausdok

Now, more than ever, I think I should be selling this stuff instead of inspecting it.

Sheesh,

ONE TEAM - ONE FIGHT!!!

Mike

Actually, after seeing the prices here skyrocket and seeing how even the crappiest (is that a word?) agent can make a living, I've thought about that as well.

When I moved here 7 years ago, the median price was about 115,000, now I believe it's around 150k.

7 years ago 17,000 new homes were built. Last year, somewhere in the neighborhood of 43,000 new homes were built in Houston.

Where is everyone coming from and what kind of jobs do they have?????

[hausdok]

Originally posted by Donald Lawson

Where is everyone coming from and what kind of jobs do they have?????

I say that every time I roll out onto I-5. The traffic is usually heavy in both directions day and night 24/7/365. Hell, the population isn't that big in this state. They must be paying folks to drive up and down the highway because, as far as I can tell, there aren't that many destinations.

Still $400,000+ for the median price? Aagh! The article in the Seattle paper talks about how there are people here involved in price wars that are coming to the table with all-cash offers for multi-million-dollar homes and that's what's pushing prices through the roof.

Some of these darned tech millionaires need to pick up and move their soft bottoms to another part of the country so we blue collar types can get back to normal around here.

ONE TEAM - ONE FIGHT!!!

Mike

[mgbinspect]

For what it's worth, I was an agent in the mid to late 80's and it's pretty hard work. Lot's and lot's of shaking the bushes and the most successful agents... their phone rings and must be answered from 6 am to 12 midnight 7 days a week. I was only a part time agent and a full time salesman and additions and renovation designer. The salesman in me knew that I could not serve my real estate clients on a part-time basis so I got out. You couldn't pay me to be an agent. I like having a life.[:-bigeyes

Gasp!... Mike... Blue Collar?.. We're professionals! Pull yourself together, man! []

The grass is always greener and what we do ROCKS! [8D]