Zee infamous housing "bubble"
03-13-2006, 04:04 PM
#34
Super Moderator
Join Date: Apr 2002
Location: VA
Posts: 2,532
Tax assessment has lagged market value here in Richmond, Va area. Houses typically sell for about 20% above tax assessment. The market is still very strong here, but perhaps slowing a bit.
As mentioned previously, real estate appraisals are pretty meaningless. You'll find that most properties appraise right at or slightly higher than the deal price. What a coincidence.
As mentioned previously, real estate appraisals are pretty meaningless. You'll find that most properties appraise right at or slightly higher than the deal price. What a coincidence.
03-13-2006, 09:11 PM
#37
Senior Member
Join Date: Jan 2004
Location: Columbia IL/St. Louis MO
Posts: 2,748
Originally Posted by rfreeman27' post='807610' date='Mar 13 2006, 11:10 AM
housing here is INSANE
your typical rancher on 1 acre is selling in the 500-600's
my 'rents bought their last place at 730,000 and sold it for 1.85M 5 years later!
the new house is even crazier...
pretty much the same increase for my rents here. bought for 185k, can sell right now for about 500k-525k. it would probably take awhile to sell though.
we are moving to southern illinois soon, and i can afford a house out there. super cheap real estate!!!
03-14-2006, 05:55 AM
#38
Super Moderator
Join Date: Feb 2002
Location: Amityville, New York
Posts: 12,288
Originally Posted by rowtareh' post='807784' date='Mar 13 2006, 10:11 PM
we are moving to southern illinois soon, and i can afford a house out there. super cheap real estate!!!
and wages to go along with it
