Housinf costs in chesterfield compared to Henrico

[sls76]

Originally Posted by rloyot

As I have been looking at MLS listings I can find near identical
listings that vary by $40k - $100k not making this up.

Okay, but I can find similar price differences for nearly identical houses in the Far West End. A home in Wyndham that might be worth $550k would be worth $450k in Wellsley (both pool neighborhoods w/ excellent school assignments). It's very difficult to make an apples to apples comparison.

ETA: I can even find over $50k or larger price differences for a nearly identical house within my neighborhood (Wyndham) depending on which section the house is in.

[jhrichmond]

A house's value and a seller's asking price are often two very different numbers. To determine value, you need to look at sold listings.

[leavingli66]

I have looked at both the for sale and sold prices, they are still significantly lower than west end, I am aware of the school cuts, anything else? crime? taxes?
I remember seeing homes in Foxcreek last year for 600k , now the same builders are starting at 350-400 I just dont get why?

[sls76]

Originally Posted by leavingli66

I have looked at both the for sale and sold prices, they are still significantly lower than west end, I am aware of the school cuts, anything else? crime? taxes?
I remember seeing homes in Foxcreek last year for 600k , now the same builders are starting at 350-400 I just dont get why?

Don't know anything specific about Foxcreek, but we moved back in 5/08 and there were neighborhoods in the West End starting in the $500s that now start in the high $300s. My guess is the builder might be offering smaller houses and cut back on standard features. Why? Because they have to. Buyers basically have to put down 20% (which is more difficult since the move up buyer's home they need to sell is worth less than it was) and jumbo is very expensive relative to a conventional mortgage so the demand for homes above $600k is much smaller than it was in 2006 and 2007.

[DKVA]

We bought in the West End in the housing boom in 2004 for 440k.
We have since been relocated in 2008. Before the bubble bust were quoted by real estate agents 570k. When the bubble burst we were in the midst of moving.. Our relocation company took the house over. We have since learned that our home sold for 375K-still makes us sick to this day-we loved that house!