Home property value survey

3bm103
Mon, 30 Jun 2008 10:59:48 +0000

We paid about $300,000 for our house in 1988. Prices in our subdivision had been reaching 500K and a couple even 600K a few years ago. Now the house next door is listed at 425K and there’s no way he’s selling for that. Others in the sub have sold in the 300K range in the last six months. Luckily we don’t want or need to go anywhere. This is in the same affluent county of MI as Kelsmom.

It’s been great for my kids though. Both bought way more house than they would have been able to afford a couple of years ago. With conventional 30 yr mortgages, they will be able to afford it until prices go back up.