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I should find the cockamamie study I saw published about "housing affordability" by city, where the major qualification was the spread between cheapest and priciest houses. the bigger the spread, the better they were. So of course Detroit, with a bottom 5% averaging 30K and a top 5% avg $1MM, was at the top.
Or the "buying power" study, which was essentially "which area has the highest household income". SF scored really high because the median household could afford a ~$700K mortgage. It wasn't until a DIFFERENT article 2 days later that told me the median house price for SF was >$700K.
The median sales price in 2018 was over $300K according to the HUD data. Many of the available lower priced properties are condos, coops, and townhomes, which typically have condo fees that can tack on anywhere from $150-1500 a month depending on the type of property and features.
but it doesn't really matter. I wasn't trying to say the median was $200K. $200K is a figure the OP used.
In my market under $200K (which is good, healthy, growing and on the expensive side of the ledger), there were...
*almost 8,000 single family detached homes sold in the last 12 months
*however, only ~ 2300 of them were in the major county, which typically accounts for ~50% of the total sales. So definitely more rural properties.
*there were only 3,300 market-wide condos, townhouse, etc sold < $200K, or about 30%. Still a alrge majority are single family.
this is just a general discussion question. Whenever anyone talks about houses, they almost always talk about homes with prices north of $200k. While i understand people buy according to their area and their personal budget, where are the folks that buy the homes under $200k?
There are a ton of good, decent homes in good neighborhoods for good prices. Homes like this.
Everyone complains about buying a house is almost impossible. Yet, homes like these exist all over america.
What gives?
Location, Location, Location. Most of the houses under $200K are probably in the "flyover" states although you can still find a few in Cape Coral, FL.
Bought a house [barely] within Raleigh city limits for $128k last year. 30 minute commute to work.
2 bed, 2 bath, 1100 SF. Full disclosure, needed interior paint, flooring, and I did replace the privacy fence.
Anyone else?
My house, when purchased nearly four years ago, cost me less than $95K in a quiet, somewhat urban and very walkable inner ring suburb of Pittsburgh. It's an overall safe community with a somewhat average school district. The house is all brick, has three bedrooms; one and a half baths (plus a rough basement shower, sink and toilet in the basement), an integral one car garage, and comes in at just under 1,400 square feet. It's a ten minute commute to downtown by car; a thirty-minute bus ride to the city via several bus lines that have busses that arrive reliably about every ten minutes during the work week.
Granted, I have since sunk about $20K (and counting) into the property, but similar properties now sell for around $145. My next door neighbors bought their house last year for $110K, but it's a smaller half frame/half brick house without a usable garage and has only one bathroom.
Several coworkers are in the process of house shopping in my neighborhood and are seeking larger houses with more amenities than mine. Even with the steadily climbing prices of homes in this area, a move-in ready house like that can be bought for under $200K.
It's good to hear there are areas still like this.
In my hometown, a much smaller town in more western NC, raw land was very desirable during the real estate boom. The bigger parcels are slowly being subdivided and sold, even today, but I don't think that area has seen "explosive growth", or will ever see it, in my lifetime.
It's not like ATL metro, where it's just a matter of time until prices creep out towards a place like Paulding county. In 2015, a good friend purchased a 5 bed, 3.5 bath house for $215,000. New construction.
Bought a house [barely] within Raleigh city limits for $128k last year. 30 minute commute to work.
2 bed, 2 bath, 1100 SF. Full disclosure, needed interior paint, flooring, and I did replace the privacy fence.
Anyone else?
Last year I picked up two 3/2 1500 sq ft rentals in Surprise AZ, about an hour/hour and a half during rush hour to downtown (plenty of jobs within 30 minutes), for $160k and $180k. They needed paint and flooring and they were good to go though I replaced the cabinets and countertops too, I'm a carpenter so I always do cabinets.
Still lots of good options in the Phoenix metro out there if people are looking to buy they just have to look around and not be afraid to spend a little after closing to fix the small stuff, painting is about $1300 and flooring could be from $2k-$5k depending on materials.
They do not exist 'all over America' Come to the outer suburbs of the Baltimore/Washington Metro area and see what you get for $200,000 It sure isn't going to be that. It is going to be a 2 bedroom condo in a fairly nice multistory building or a townhouse/row home in lass desirable neighborhood. It is all based on the local economy, the length of the commute to decent jobs and how much land is available for development. In other words Location, Location, Location.
I'm not a professional realtor, however, I have been literally shocked about the affordable homes that are available in this country.
Since I am from NYS, that area interests me. After leaving the NYC burbs, I have noticed houses in very nice neighborhoods for $100 - $200 thousand. Same good schools. Same NYS university system that offers FREE TUITION to all NYS residents who are accepted.
So, if an upstate NY state house is listed for 250 - and it's a pretty house you are in luck.
Now I live in Ohio. There are 3 bedroom older houses NOT IN SLUMS o dangerous areas - that go for $20-75 K.
Location: Formerly Pleasanton Ca, now in Marietta Ga
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Quote:
Originally Posted by warren zee
I'm not a professional realtor, however, I have been literally shocked about the affordable homes that are available in this country.
Since I am from NYS, that area interests me. After leaving the NYC burbs, I have noticed houses in very nice neighborhoods for $100 - $200 thousand. Same good schools. Same NYS university system that offers FREE TUITION to all NYS residents who are accepted.
So, if an upstate NY state house is listed for 250 - and it's a pretty house you are in luck.
Now I live in Ohio. There are 3 bedroom older houses NOT IN SLUMS o dangerous areas - that go for $20-75 K.
How are the wages and economy there? I assume you are talking about your town Warren?
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