<p>Our neighborhood is a real bargain. Most of the homes look like this home. For $500,000, you have the advantage of a large lot backing to a meadow area. For $400,000, you’d get this house in a regular neighborhood. Our public school was just ranked first in the state for academics.</p>
<p>I live in one of those areas where prices have not plummeted but there is virtually no movement at this point.
I wanted to point out something different. I live in a nice neighborhood in the suburbs of what was for long considerd a blue collar town. This image is slowly changing, my town , to dismay of some, is becoming a high adventure sports mecca. Most houses in my neighborhood are about 30 years old with a mountain/arts and crafts flair. If I were to move 30 miles to the city capital, same house on the same lot would be over a million, about 3x as much as it is worth over here. This is just something I can’t comprehend</p>
<p>I was very glad to downsize a couple of years ago and now it feels like ti was just in time not to be stuck with a white elephant huge house.</p>
<p>But what happens to the market when all the baby boomers want to sell the $$$ house and get a cheaper one, do prices drop so much there is nothing left to pocket?</p>
<p>I feel like I have too much house (1900 sq. ft.) with just hubby and me! I can’t imagine wanting MORE. We already have 3 toilets that need cleaning, 3 tubs that need washing, etc. I am glad we are not in a bubble market; in Austin you can get a decent house in a nice neighborhood for $250,000 - not $750,000 like the “recession relocations” advertise. :eek:</p>
<p>I am happy to have 2900 sq. ft. for just 2 of us and very nice cleaning lady. I have no plans to sell it. There is no way we can rent nice place for about $500 / month. If we ever buy something else in Florida (with current job / economic prospects highly unlikely), I would still like to keep this house for summers.</p>
<p>For those of you looking to down-size, the average house in DW’s home town is going for around $35K. Where is this paradise? Ummm. The town’s most famous alumnus described it as “a cemetery with street lights” but hey, quiet can be a good thing right?</p>
<p>Outer fringes of the Boston suburbs - a 2000 sf, 4 br, 2.5 bath, single-family house with a 2 car attached garage on 1/2 acre in a family neighborhood.</p>
<p>In the land where the housing bubble hasn’t hit yet, you can get an older 2-bedroom apartment for $500k. Of course, post-bubble will be a very different story…</p>
<p>You can’t get much in the commuting to nyc suburbs for 500K. If you don’t have to commute to nyc, and can go further out, the prices start to go down in some areas. Those ubiquitous split levels like the one pictured in Cresskill, NJ in the business week link are like the house I grew up in in Nassau County. My parents paid 17.5K in 1958, and my mom sold it after she was widowed in 1983 for something in the low 80k range. I doubt that we will see that kind of appreciation again.</p>
<p>As to being in the wrong age group, my H and I have felt that way for the last 20 years. We didn’t get to buy a house like my mom’s for 80K. When we got around to buying a house like that cost around 250K to 330K depending on where you bought it. I think the older “boomers”, 1946-52 made out better. JMHO.</p>
<p>lafalum – similar deal in DC suburbs for that size/location/lot/neighborhood built in the mid-1960s, an hour’s commute door-to-door to downtown. Was higher than that before the downturn. Am very glad we bought 10 years ago.</p>
<p>Similar house in my sister’s community an hour from Louisville, KY: $150,000 and new construction with lots of goodies.</p>
<p>In HI, you mgiht be able to get a small condo near town (maybe 1000 square feet) or a newer larger home (maybe 2000 square feet) about an hour commute to town. Probably would not be thrilled with the school district of either option. </p>
<p>Houses in areas with “better” public school districts in our state start around $800,000 for a 40-50 year old, single-wall construction 3 bedroom, 2 bath home, maybe 1500 square feet + one car carport and 5000-7500 square feet on land. The home will probably need new plumbing, new wiring & other work on it. Many in our state (including most legislators & public school teachers) are paying for private school tuition (about 15% or more of the school age students attend private school) & it runs about $15,000/year/child & rising.</p>