Pricing comparison on homes - here and where you moved from (Johnson City: houses, taxes)

[mbmouse]

Originally Posted by gemthornton

If you have 6000 people all clamoring for a piece of land 80'x120' in West Palm Beach, FL and 20 people seeking 5 acres in Crossville, TN, who do you think is going to pay the most?

The FL land will go for well over $100,000 for a postage stamp piece of land and the TN beauty will fetch maybe $45 or $50,000 just because the competition for land is so vastly different in the two areas. The quality of the land has very little to do with it. It all hinges on the demand - at whatever cost in some places.

Yea I know. But I still think it is wrong LOL! But me thinking it won't change a thing.

[46Barb]

I just went to realtor.com and found out the new home we bought here in TN for $215,000 would cost $465,000 back in CT. Then add on top of that the high cost of real estate taxes, heating, and personal property tax on cars!

[LauraC]

Originally Posted by mbmouse

Yea, you are right. But I still don't agree with it LOL! It just seems wrong for the world to work that way. Guess I am just in a mood today.

Hey mbmouse, this weekend I heard some guy on one of the business news shows (not Tennessee specific) predicting some big mortgage companies are going to go out of business within a matter of weeks. Have you heard anything? If that happens, what does that mean for homeowners?

I don't know why I watch those business news shows from time to time. I have no idea what they're talking about since I am not a homeowner.

[mbmouse]

Originally Posted by LauraC

Hey mbmouse, this weekend I heard some guy on one of the business news shows (not Tennessee specific) predicting some big mortgage companies are going to go out of business within a matter of weeks. Have you heard anything? If that happens, what does that mean for homeowners?

I don't know why I watch those business news shows from time to time. I have no idea what they're talking about since I am not a homeowner.

Mortgage companies/lenders/banks have been dropping like flies since August 07'. But it means nothing to the homeowner who happens to have a mortgage through ones of these now defunct lenders/banks. They just get a notification to start sending their payments to a new address and make the check out to a new name. It changes nothing in accordance to the terms of a mortgage loan. It is just transfered to a new servicing Company. This is a good example of where FDIC insured comes into play. That federal insurance company handles the transfer of servicing, everything goes on as normal.
I think it is actually a good thing. Time to get rid of the bad eggs in the banking world. Leave the solid honest ones.

[thirtyish]

Our Central Valley, California home is on the market. Last year we were asking 469,000 for 3 bed/2 bath 1928 sq ft home on .22 ac with pool, rv parking in a subdivision. It is a tract home. Like everyone else, we were riding the high end of the market and trying to get a big chunk for our little love nest. We, regrettably, turned down an offer of $425,000. Now, a year later, we REALLY want to sell. We have listed for $389,000. It's been 2 weeks and not a single call to see it. Luckily for us, we can drop our price several more times and still walk away okay. Many of my co-workers and friends bought at the high in the last year or 2 and can't get out without going in the hole. Our home in the Cookeville area would be in the $250,000's.
Last year we were toying with a move. Now, we just hope and pray for a buyer to come through for us.

[gemkeeper]

LauraC, over the last 35 years that hubby and I have been mortgage holders on several different homes in several different states, our mortgages have been "sold" to another mortgage lender for reasons never known to us.

It happened just as mbmouse said in her post. We had Such-and-Such mortgage, received a letter one day saying that Such-and-Such no longer held our mortgage and that ABC Mortgage Company would be now receiving our scheduled payments. That was it!

[TN Tin Man]

Currently my neighbour here in FL. Too build starting at $138 sqft up..... lot 101X140 starting at 98k
Thats down from 05 by 35% or more....... East coast 45 miles do east of Orlando...But nothing is selling!!

[SKYSEA]

I won't even begin to compare the obscene housing and land prices in So. California with anywhere. All I know is I am Cookeville bound where I already bought my land and upon retirement will build my dream home in which to grow old with the nicest people around.

[JMT]

Originally Posted by thirtyish

Our Central Valley, California home is on the market. Last year we were asking 469,000 for 3 bed/2 bath 1928 sq ft home on .22 ac with pool, rv parking in a subdivision. It is a tract home. Like everyone else, we were riding the high end of the market and trying to get a big chunk for our little love nest. We, regrettably, turned down an offer of $425,000. Now, a year later, we REALLY want to sell. We have listed for $389,000. It's been 2 weeks and not a single call to see it. Luckily for us, we can drop our price several more times and still walk away okay. Many of my co-workers and friends bought at the high in the last year or 2 and can't get out without going in the hole. Our home in the Cookeville area would be in the $250,000's.
Last year we were toying with a move. Now, we just hope and pray for a buyer to come through for us.

You can get an amazingly beautiful home in Cookeville for the $250k's. Are you looking for something in town or out in the country? I sure hope your home in California sells quickly!

Originally Posted by SKYSEA

I won't even begin to compare the obscene housing and land prices in So. California with anywhere. All I know is I am Cookeville bound where I already bought my land and upon retirement will build my dream home in which to grow old with the nicest people around.

You bought land just north of Cookeville, right? That's such a beautiful area, and you're right that the people are very friendly. I've found that Tennesseans as a whole are a very friendly lot. But I also think that Cookeville is a very desirable town with a lot more to offer than most towns its size. I hope that you and thirtyish (and your families) will love it there.

I know of several families from SoCal (LaJolla) who moved to Cookeville. It started with one family, they fell in love with it and got their neighbors and relatives to move, too. Now there are about a dozen of those families who live around Cookeville and are firmly entrenched there, and their kids who have graduated from high school and college are now marrying and settling in the area, too. It's fun to see.

[shadowwalker]

Houses and taxes. Here are alot higher than where were from. For the same size.