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Old 05-18-2018, 06:34 AM
10,265 posts, read 6,495,798 times
Reputation: 10842


My home is older and remodeled and a large bedroom was added in 1976. It sold in 1977 for a very modest amount. what today people can pay in rent in 9 months for a home around here.

1977 then it was sold a year later for 30% higher, still less than a new compact car costs today.

9/2005 they paid about 9 times more than it sold for previously.

11/2005 it was sold for 20% higher than the previous owner paid. You can see it's sold to a different buyer. I don't know why they sold so fast and for so much.

9/2005 it sold for 1/5 or 20% of the previous sales price and rented out. The price dropped 80% after the crash. The new owner rented it out and made his money back and then some.

3/2016 I bought the home for almost 3 times what it sold for previously.

today it's worth less than it's highest sales price of 11/2005, but worth 35 to 60% more than I paid for it a little over 2 years ago. Realtor has it at 35% more, Redfin has it at 60%. The 60% is closer because this is a starter home. A 25% smaller home without central AC was sold soon after to an investor to rent out for the same price I paid for mine. No homes in decent shape are available in my town for the highest price paid ever for my home. older 70s Mobile homes on private land have sold for the same price that Realtor says my home is worth, which is 35% more than I paid.

Plus I did improvements to the roof, windows and plumbing that should make it worth about the highest it ever sold for. Realtor had the price drop the other day but now it's back up, i think it was an error on their site because it was in a different format than it usually appears. I'm happy I have no intentions to sell. Regardless when you sell prices are relative. You sell low you buy low, you sell high you buy high, unless you can downsize and move to a lower cost area.

Last edited by LifeIsGood01; 05-18-2018 at 06:51 AM..
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