How much do houses cost in your area? What are they really worth? (for sale, countertops)

[Need_affordable_home]

How much do houses cost in your area?(be sure to give name) What are they really worth? How much do you think prices should drop? Give different examples of price and throw in median and price per square foot for your typical house in a middle class neighboorhood. I am giving my examples.



I live in s. Florida and median price is $360k now. Doing a search, I conclude $180 a square foot in a middle class neighboorhood. There are cheaper and more expensive neighboorhoods. Houses are overpriced and should drop down to $120 a square foot or otherwise a 33% drop. Ditto for condos and townhouses. At $120 a square foot, your 3/2 1500 square foot middle class house should cost $180k. At this price point, it is the limit of what most dual income middle class families can afford. Therefore I feel houses are going to drop alot!

[jdhall1]

A typical home in my neighborhood in northern fairfield county, ct is $410,000. It's a 3/4 bedroom 2 baths, 1800 square feet on an acre. The average price for square foot in the city is $226 (land included). Total units is down about 6% from 2005 with prices down about 1% but days on the market are up 7.5% to about 95 days.
The average income in my area is about $85,000 and using the recommended 28% of monthly income to housing they should investment about $2000 a month toward a home of their choice (including taxes). They should sell for about $350-360k, that reprents a drop of aobut 13%.

[MoMark]

Going off Coldwell Banker price comparisons for a 2,200 square foot single-family dwelling with four bedrooms, two and one-half baths, a family room (or equivalent) and a two-car garage from around the nation, Springfield, MO. averages $188,318 for 2006. The bubble never really hit here like elsewhere, but homes are not selling quickly. I started looking for one last June when I moved here and many of the homes I saw on the local MLS then were already on the market for six months to a year. Many of those are still on the market now!!!

[lookingfortheperfectplace]

Southern Ca-
$400,000. for a 3 bed 2 bath 1200 sqft house with a 10x10 foot back yard.
with 1/2 acre your looking at the very least $500,000 for a small crappy house.
You can get a crappy small house for $300k with no yard but the house is worth no more than $75k.

[Waterlily]

If I use yahoo for information then we here in North Bend ,Oregon are selling for $189 per sqare foot. They show us having an average price of $325,000. If I use Realtor.com for an average price then we are about the same as the national average at $217,000.
Do I think prices should drop? No. We are getting an influx of retired people from out of state moving to the area. We also have some great views of the bay and the ocean. The views can affect the price somewhat too.

[Jammie]

NeedAffordable, I think you're going to find this hard to believe so I urge you to check it out for yourself. I never look at our local listings and after I saw your thread, I did a search. I found a very nice 4BR/2Ba house with a pool for 177,000. Of course that's the asking price and I've been told that if you offer 80% of the asking price, you normally get the home. I live in Mitchell, So. Dak. Many of the nearby small towns have VERY cheap houses. $25,000 can buy you a very nice home in the smaller surrounding towns. Our wages are comparable to Florida's wages. The only thing is we don't have palm trees and we have WINTER.

[elfyum]

Jammie - I just looked on realtor dot com & there are alot of houses for sale in your town!!! What's up with that? Nothing for 25k though...But nice house on 2.4 acres for 54.5k! Cool!

[DaninEGF]

Grand Forks ND area ---

Tough comparing homes from one to the next....because a lot just depends on what is in them....granite countertops or not, fireplace, 6 panel doors or plain, etc.....which you cannot get very much from the web sometimes.

I can tell you about our home which we built in 2003.... ranch total 3500 sq feet finished (1750 each level) 5 BR/3 BA 3 car garage, 20x20 deck and 100x180 yard in a new subdivision a block from elementary and middle school....cost us $215,000. Prices have gone up since then...I would say to build that again in 2006 would be $260,000.

We have special assessments up here....the road in the front of our house (which was dirt when we built) was curbed/guttered,etc and it costs each homeowner about 11,000...payable in a span of 20 years back to the city.
Taxes on house....2500 year.

Dan

[exhdo1]

Originally Posted by Need_affordable_home

How much do houses cost in your area?(be sure to give name) What are they really worth? How much do you think prices should drop? Give different examples of price and throw in median and price per square foot for your typical house in a middle class neighboorhood. I am giving my examples.



I live in s. Florida and median price is $360k now. Doing a search, I conclude $180 a square foot in a middle class neighboorhood. There are cheaper and more expensive neighboorhoods. Houses are overpriced and should drop down to $120 a square foot or otherwise a 33% drop. Ditto for condos and townhouses. At $120 a square foot, your 3/2 1500 square foot middle class house should cost $180k. At this price point, it is the limit of what most dual income middle class families can afford. Therefore I feel houses are going to drop alot!

Lots (western Monmouth County NJ). I guess there worth what people are willing to spend on them. I am hoping they don't drop at all because I am real close to cashing out. The question for me is, If I were looking for a house would I buy my own home? No. Why? Because #1 I don't think it's worth that much money and more importantly #2 I couldn't afford it. I don't know off hand if there are any new homes in my town being built for less than 750K. I think if one were to not include the towns in Monmouth County where the home prices are a little more affordable the median would be at least 550K or better on a 22-2300 sq. ft. home with a half acre of property. I guess thats about $250 a square on exisiting homes and over $300 a square on new construction. By the way the taxes probably run from 7K on older smaller homes to 17K plus on the new ones.

[Need_affordable_home]

Thanks for your replies so far! I have given all of you more positive reputation! Id be honored to recieve some! Very good informative read, keep the post comming! I notice I have it worse than most of you but you poor guys in NJ have it worse than me!