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What does an average home look like in your area?

L

laurac260

A previous post in the hairstyle thread mentioned Whitestone , NY as an avg working class neighborhood. I don't doubt the posters assessment of the area, but the housing prices are obscene compared to the Midwest.

Here's a look at a house in another "working class neighborhood" Northridge OH. (Just outside Dayton) This is my mom's second property. We will be lucky to get the listing price on this one.

http://m.estately.com/listings/info/2216-neva-dr (the little green house just below it is my moms house)

What does your 'hood look like?
 
Here in northern Colorado, that house would probably be $150-$200K. All of the "starter" new homes in new subdivisions (basic 3BR, 2 story) are in the $250K - $350K range, and the lot sizes are postage stamps -- we're talking 5' on the side of the house (yes, houses are built only 10' apart), and tiny front and back yards. Even the "nicer" new subdivisions where house prices start in the $450K - $700K range have very small lots in general (those houses are in the 2200-3500 sq. ft. range). It has to do with "minimum population density" within the city limits, so very few larger lots are allowed.

Kurt
 
my sister bought a condo near my mother in a suburb of Chicago in 2004 for $90,000. Another one was bought by a neighbor for more than that in 2007. Now my sister can only get about $25,000 for the condo, and it has to be a cash sale as the banks won't loan under $50 thousand.
she has it listed too high, and has not had a showing.
http://www.zillow.com/homedetails/22617-Pleasant-Dr-APT-16-Richton-Park-IL-60471/2107333091_zpid/

to make matters worse, we have to sell my mother's condo too, as she passed away.

I know if I put my home in Wisconsin Dells on the market, it would take years to get what it cost to build 25 years ago, and we have totally remodeled it. 4 bedroom, three baths, one acre wooded, large deck, about 2000 sq feet with large garage in desirable neighborhood, might get $150K. and we have homes around us that are 5 to 7 thousand square feet (they don't sell either)
 
We could use a nice vacation home in Wisconsin!

I'm also in the Chicago area. I sold my mom's one bedroom condo in Forest Park a couple of years ago for $100k. It was paid in full so I wasn't worried too much about the pricing and it sold quickly.

In Oak Park, prices range from small bungalows at around $300k to large historic homes in the $1M plus range. Coincidentally, I was just looking at our neighbor's house that sold last fall for $467k. (It was more like snooping but, hey! We're all curious.) This is pretty typical for our neighborhood.

http://www.zillow.com/homedetails/641-N-Harvey-Ave-Oak-Park-IL-60302/3799769_zpid/

Deb
 
jackio said:
That house in my neighborhood would run about $450K with annual taxes of about $12K.
Click to expand...

It hasn't gotten to the point yet that existed before the '08 housing bust. Before that, people were flying in here, being met at the airport by realtors, who would usher them around and sell them a house. They would show them how living here would enable them to retire a decade or more earlier and with more spending money after selling the home they currently lived in.

Shhhh, don't tell anybody. Living here is cheap, safe, and the climate ain't bad either.

Jim
 
$750,000-up

Tear down depending on lot size and then 2-3 million house would be built otherwise it would rent out for $2,000 a month.
 
I just sold my 1973 built rental property of 2090 sq ft in Northern CA area (not SF/Bay area), within 24 hr of listing in May for the asking price of $549K. At the peak of property market in 2007, similar homes were going for $695K. So it is still depressed from the peak of the market and the buyer was certainly thinking it was a steal.
 
We sold our 3300 sq foot home in the East Bay of San Francisco in 2012 for $839,000. One of our old neighbors, whose home is smaller, said his is worth over a million right now.
 
The median home price on Oahu is just under 700k. I just went in on a condo with my parents about 10 months ago in a fairly average development. It's about 20 years old, has 2 bedrooms, 2 baths and is 1000sf. We paid 370k for it and we think we got a deal!
 
We live in a 'Burbank north of Boston with old housing stock on small lots. Pretty much every house listed these days is selling quickly and well above asking price. Half a mil buys you 1800 sq ft on 5000 sq ft lot and probably needs updating. Our kids live in SF 'burb which I refer to as " land of the million dollar tear downs". So I say to the rest of you consider yourselves lucky!
 
Our House

Sorta like this.

10399409_1083223321802_7991287_n.jpg


Our house is pretty typical for our neighborhood. We bought this house for $165k 5 years ago, and have seen it's value drop. It's come back a little . . . currently around $130k assessment.

We're in the City of Milwaukee on .3 acres, with 1,200 sq ft plus roughly the same in the (finished) basement.
 
Our county is ag based. Were known for hops, grapes and today pot. As far as real estate goes its all over the place. You can see prestigious homes in the same area of cracker boxes. In my neighborhood its mostly homes in the $225,000 range. Next to our sub division are scattered cracker box homes and some mobiles with a bunch million dollar mansions.

The median home price in the city is about $140,000 with most selling for about $170,000. The median home value just west of the city is $250,000 with most listed for about $450,000.

Of course we do have an area that was called the "hole". It the area that surrounds downtown. It is this area that places our crime stats in the top . While the national median for crimes per sq mile is about 40 ours is 225. Interestingly enough is that our area has a crime index of 3 which means we are safer than 3% of all cities in the USA. Yup, 97% of all cities are safer than here.

Over here, the 2008 real estate down turn really didn't affect the values of property too much.

Bill
 
NE suburb of Houston. Typical for neighborhood/area. Some older and larger homes, some very large and pricey, some small fixer uppers. Pockets of new which is what my house is, and my little subdivision is (4 streets only).

This is the listing for my actual house, it was a brand new spec house we purchased from the developer.

http://www.trulia.com/homes/Texas/Humble/sold/1000013013-8607-Crescent-Valley-Ln-Humble-TX-77346

It was at a bit of a high of the market for texas, and it dipped, but is now about back to level same level, or slightly above that.

•Built 2010
•3 Bedrooms plus office
•2 Bathrooms
•2 fireplaces (1 in and 1 out) and outdoor courtyard.
•House size: 2,161 sqft
•Patio Deck size: 350 sqft
•Double Garage
•Lot Size: 5,519 sqft
•Built In 2010
•Brick

Upgrades on everything.

Purchased $188,000
Current Value $200.000
 
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It is interesting to see so many people say the housing prices haven't fully recovered from the bust in their area. We have not only recovered, we are well above the previous top around here. Houses popping up everywhere, commercial booming as well. I'm sure the oil boom is a part of it (lots of new drilling around here), but it is much more than just that.

Kurt
 
PigsDad said:
It is interesting to see so many people say the housing prices haven't fully recovered from the bust in their area. We have not only recovered, we are well above the previous top around here. Houses popping up everywhere, commercial booming as well. I'm sure the oil boom is a part of it (lots of new drilling around here), but it is much more than just that.

Kurt
Click to expand...

They're probably a little high... ;)
 
At the previous high - our house (3Bd/2Ba, 2000 sqft) ~20 miles south of San Francisco in a middle-class neighborhood - was about 1MM (by various RE sites) - now... ~1.2MM.
 
Here on the Upper West Side of Manhattan you are looking at about $1250 to $1600 p/sqft for an apartment. 2 beds is 900 feet and up!

Sent from my LT26i using Tapatalk
 
According to recent data, here in Winnetka, IL, 2012 median home values are just about $1,000,000. Estimated median household income in 2012 is just about $200,000. (City-data.com). I'd presume they've increased as the market has been picking up significantly around here the past 2 years since this data.

The North Shore suburbs are a great place to live in Chicago, with excellent school systems.

"Today the North Shore remains one of the most affluent and highly educated areas in the United States. Seven of its communities are in the top quintile of U.S. household income, and five of those (Lake Forest, Glencoe, Kenilworth, Winnetka, Highland Park) are in the top 5 percent."

http://en.wikipedia.org/wiki/North_Shore_(Chicago)
 
Zillow says:
The median home value in Las Vegas is $174,600. It's $106 per square foot.
The median home value in Henderson is $232,700 and $126 per square foot.
The median home value in North Las Vegas is $162,000. It's about $90 per square foot.
Zillow's map of "Las Vegas" includes a lot that's not in the city limits so it's basically the whole valley excluding Henderson and NLV.
 
Although it might surprise you given all the bad headlines about the Michigan economy, real estate values in my area are pretty hot right now. Prices are up 5-15 percent over the past year and many homes in my county and town are receiving multiple offers and selling for more than asking price.

Why? A few main reasons: 1. Good schools; 2. Excellent job base in this particular county, which is always propped up by two major universities and two major hospitals; 3. Limited inventory, because there has been very little new construction for five or so years; 4. Pent up demand, from folks who have held off from buying a first home or trading up.

Dexter Michigan:

Estimated median house or condo value in 2012: $202,634 (it was $161,100 in 2000)

Mean prices in 2011: All housing units: $227,157; Detached houses: $232,270; Townhouses or other attached units: $171,620; In 2-unit structures: $375,309; In 3-to-4-unit structures: $612,154; In 5-or-more-unit structures: $169,543

Median gross rent in 2012: $949.
 
we sold our home in Illinois in 2002. At that time it was 1450 upstairs, with a full finished basement that was below grade.
I saw it listed, they had turned our family room into a kitchen and it was spectacular. We had three season room and they had added a deck. Looks like they put in hardwood floors and a few other things. Also looks like they aren't getting much more than we sold it for.

anyhow, what I think is interesting that without putting on an addition, our house is now 2500 square feet New math?
 
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