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Old 09-18-2007, 03:08 PM
 
76 posts, read 188,187 times
Reputation: 16

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Overpriced, overpriced. I guess that depends on what side of the fence you are on. Try looking at homes in Long Island,NY....overpriced is an understatement. I'll take homes in EP anyday.
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Old 09-18-2007, 04:24 PM
 
75 posts, read 451,496 times
Reputation: 39
Default It is a buyers market...

Just ask anybody trying to sell a home.

I have to comment on this post.

<i>We just moved to Eden Prairie in October and found the prices of houses to be about 30%-50% too high, so we don't plan on buying anytime soon. It is definitely not a buyers market, but then from your post, it looks like you are willing to overpay, so it might not be so bad for you.</i>

I say 30%-50% too high as compared to what? Another state?

Prices in Minneapolis are quite resonable compared to some other states.

Eden Prairie is priced higher than some other suburbs because it is has convenience. Jobs, shopping, restaurants, movie thtaters, etc are all there.

To the person that thinks Minneapolis - Eden Prairie is too high go look at Seattle, San Francisco Bay area, Chicago, .....
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Old 09-18-2007, 07:30 PM
 
6,311 posts, read 15,139,587 times
Reputation: 4135
Quote:
Originally Posted by robind View Post
Just ask anybody trying to sell a home.

I have to comment on this post.

<i>We just moved to Eden Prairie in October and found the prices of houses to be about 30%-50% too high, so we don't plan on buying anytime soon. It is definitely not a buyers market, but then from your post, it looks like you are willing to overpay, so it might not be so bad for you.</i>

I say 30%-50% too high as compared to what? Another state?

Prices in Minneapolis are quite resonable compared to some other states.

Eden Prairie is priced higher than some other suburbs because it is has convenience. Jobs, shopping, restaurants, movie thtaters, etc are all there.

To the person that thinks Minneapolis - Eden Prairie is too high go look at Seattle, San Francisco Bay area, Chicago, .....
And to the person that thinks Mpls - Eden Prairie is reasonable, go look at Sioux Falls, Billings, Buffalo, Wheeling, Tallahassee, Dayton...

It's all relative, folks.
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Old 09-18-2007, 08:01 PM
 
2,506 posts, read 8,089,609 times
Reputation: 850
If you are willing to comprimise on newness, Minnetonka will get you a beautiful home on a 1/2 acre lot that will actually have something on it besides tinky trees and fresh sod (read: trees). Those homes and areas are kept up like they are new anyways.
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Old 09-19-2007, 03:05 AM
 
20,793 posts, read 57,557,180 times
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Quote:
Originally Posted by Ben Around View Post
And to the person that thinks Mpls - Eden Prairie is reasonable, go look at Sioux Falls, Billings, Buffalo, Wheeling, Tallahassee, Dayton...

It's all relative, folks.
You are right, it is all relative, Sioux Falls isn't any less expensive then Minneapolis having lived there for several years. Add to that that the property taxes are more then double then what they are here, even though there is no state income tax, it isn't any less expensive to live there then it is here for the same size/quality of house. Then take into consideration that South Dakota ranks 48th in education and the Twin Cities is a bargain.
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Old 09-19-2007, 09:02 AM
 
Location: Eagan, Minnesota
751 posts, read 1,023,773 times
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Quote:
Originally Posted by golfgal View Post
You are right, it is all relative, Sioux Falls isn't any less expensive then Minneapolis having lived there for several years. Add to that that the property taxes are more then double then what they are here, even though there is no state income tax, it isn't any less expensive to live there then it is here for the same size/quality of house. Then take into consideration that South Dakota ranks 48th in education and the Twin Cities is a bargain.
Sioux Falls has a Cost of living Index of 84, Minneapolis is 107. Housing COL index for Sioux Falls is 49, in Minneapolis is 95 (almost double). I am sorry, but your conclusions are erroneous.
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Old 09-19-2007, 12:14 PM
 
20,793 posts, read 57,557,180 times
Reputation: 10626
Quote:
Originally Posted by lukeache View Post
Sioux Falls has a Cost of living Index of 84, Minneapolis is 107. Housing COL index for Sioux Falls is 49, in Minneapolis is 95 (almost double). I am sorry, but your conclusions are erroneous.

And real life living tells me otherwise. Other then being able to buy milk on sale in South Dakota it isn't any less expensive in Sioux Falls then in the suburbs of the Twin Cities. Our same house in our town now would cost at least as much in Sioux Falls and Sioux Falls has much higher property taxes.

I just did a search on Realtor.com using the price we paid for our house last year, similar square footage, age, etc. and got no matches. I had to go UP $25,000 to find a similar house in a similar neighborhood.

What year are those stats from??
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Old 09-19-2007, 01:10 PM
 
118 posts, read 366,536 times
Reputation: 86
I'll vouch for Golfgal on this one. I have in-laws who live near Sioux Falls (within 30 minutes) and the housing prices are quite a bit higher than they used to be. People tend to focus solely on income taxes, but there are so many other ways that you get taxed that will hit your bottom line. I can also tell you that teachers get paid horribly in South Dakota, so unless you just have to teach in Sioux Falls, teachers in the area would generally prefer to work in the surrounding states (e.g., Iowa, Minnesota, Nebraska). This certainly supports Golfgal's contention about Minnesota's level of education.

Numbers only mean so much, especially when looking at magazine articles that come up with some magical index number. If you don't like paying taxes, that's fine, just say that. But much of Minnesota's tax revenue goes toward programs that develops an educated public (supportable by data) and gives the state a progressive feel (entirely subjective, but most Midwesterners seem to agree).
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Old 09-19-2007, 07:31 PM
 
6,311 posts, read 15,139,587 times
Reputation: 4135
Um, golf & AV, I think you guys are off on a tangent. I was responding to robind and some previous posters commenting about house prices being "too high", not taxes or cost of living.
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Old 09-20-2007, 07:26 PM
 
58 posts, read 219,275 times
Reputation: 30
I got a good laugh from the previous post. Yes, housing market is overpriced right now. Luckely, the housing bubble is now bursting. I am glad it's happening, the prices should have never climbed this high... sigh
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