Get OUTTA here!

Cletus_Vandam

Cletus_Vandam

New Member
vraiblonde said:
I can't believe the prices of houses down there! Man, and I thought it was bad up here!!!

I just saw a 3BR beat to #### trailer in Mechanicsville going for - ready? - $150,000!!!!!

:faint:
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That doesn't surprise me. How much land was in that deal? What part of Mechanicsville was it and what was the zoning?

The zoning and land are two biggies. Especially knowing that a trailer is on the lot. You'll find trailers sitting on lots that get their zoning changed to VMX or something closer to commercial and the value of the land can jump ten fold, just based on a zoning change... That's what's crazy.

Look at the houses along Route 235 across from the Starbucks/Quiznos shopping center. Those thing worked out to be worth their weight in gold... They were bought up then torn down, go figure.
 
dustin

dustin

UAIOE
BuddyLee said:
About 7 years ago my parents bought a 100+ year old farmhouse on 2.4 acres on the Chesapeake Bay for...

$150,000

A few years ago they had it appraised for about $650,000.
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they have a REALLY nice peice of land down there...
 
dustin

dustin

UAIOE
itsbob said:
I'm WAAAY down in St Mary's and LOVE it.. great place to raise kids, quiet, no crime to speak of other then hiphop night at Monks.. Our house sits on two level cleared acres, with another 10 or so houses in the neighborhood with the same size lot.. now you COULD buy further north and get a house on 1/4 acre, be able to spit on your neighbors and pay 500K, but that would be silly.

There is NO traffic down here to speak of, and BG has to commute to PAX and it takes her about ten minutes. Coming from the north the same distance would be close to 30 or 45 minutes.

Wait, I'm sorry.. did I say I like it down here.. I mean I HATE it down here.. stay away.. you should buy something North of Great Mills Rd.. Crime down here is atrocious.. just yesterday I saw a goat running rampant in the neighborhood.. oh the humanity..
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:yeahthat: south of the base is the place to be in St. Mary's. :yay: :yay:
 
itsbob

itsbob

I bowl overhand
Pandora said:
Vrai,

In 1997, we bought our house for 160K, sold it in 2004 for just a little over 300K. That same house went on the market this year for 425K and sold, not in a few hours like when we sold it, but in about 45 days.

They have done nothing to it; in fact, it was in fairly bad shape when it went back up on the market.

425K for that house... on a CLIFF.... on a lot that was about the size of a postage stamp. Our neighbors could clearly see what we were cooking on the grill. Just a few days before we moved, our neighbor said “hamburgers, that is what we are having.” :lol:

I sure wish I could have picked that house up and put it on a level lot. :bawl: AND brought our neighbors that lived around us. :bawl:

House prices are insane, but I think they are going to stall or decrease a little bit over the upcoming year or two.

I only see one neighbor here on a regular basis.
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They are not going to decrease.. there's too much on the demand side still coming.. the increases my normalize back to the 6 or 7% a year.. but when you are talking a 400K house 6% is STILL 24000 a year increase..
 
itsbob

itsbob

I bowl overhand
Shannie0308 said:
Well we want the right area, house, neighborhood. I moved ALOT as a child, :
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So did I.. and have lived in many different states, both coasts, and even Europe, and when I moved here I knew almost immediatly that this is the place where I wanted to grow old and die.

I've lived here three years so far, and that's the second longest I've lived anywhere.. and I haven't changed my mind yet!
 
P

Pandora

New Member
itsbob said:
They are not going to decrease.. there's too much on the demand side still coming.. the increases my normalize back to the 6 or 7% a year.. but when you are talking a 400K house 6% is STILL 24000 a year increase..
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Believe it or not, I dropped 10K on my 1st house in 89. I was 20, single and worked my ass off to put that money down. It was a townhouse in Carrington (St. Charles) paid $96,000 for it, and damn, I was considered VERY LUCKY to get what I paid for it in 1997 when I sold it. It fact, we (I was married at this point) had to bring close to $1,000 to the settlement table to get out of it, once you figured in all the cost of selling. Soon after we bought our house in 1997, I watched similar houses sell for 6-7K less and some were actually better deals. I have no clue where you get the “average” from because many people remember those days when housing prices didn’t seem to move upward at all in the 90’s, they went down and in 2000 and beyond, we started to see a jump in value.

I do seriously hope you are right. I would love to see a 6-7% growth a year. Damn straight I would, but I do have doubts. Serious doubts. :ohwell:
 
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jazz lady

jazz lady

~*~ Rara Avis ~*~
PREMO Member
I can't believe the piece of crap house I used to have in Calvert is now appraised at $220k. Mostly for the half acre of land, which has a waterview and water rights. :ohwell: The house across the street that is waterfront is going for $650k. Granted, they redid the house but it was for sale for $80k about 15 years ago. I kick myself for not buying it then.
 
itsbob

itsbob

I bowl overhand
Pandora said:
Believe it or not, I dropped 10K on my 1st house in 89. I was 20, single and worked my ass off to put that money down. It was a townhouse in Carrington (St. Charles) paid $96,000 for it, and damn, I was considered VERY LUCKY to get what I paid for it in 1997 when I sold it. It fact, we (I was married at this point) had to bring close to $1,000 to the settlement table to get out of it, once you figured in all the cost of selling. Soon after we bought our house in 1997, I watched similar houses sell for 6-7K less and some were actually better deals. I have no clue where you get the “average” from because many people remember those days when housing prices didn’t seem to move upward at all in the 90’s, they went down. I do seriously hope you are right. I would love to see a 6-7% growth a year. Damn straight I would, but I do have doubts.
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6 - 7% is the national Average.. when the close the base here, THEN I'll worry about losing money on a house here.

SO while you were losing money on your house in Carrington somewhere in this country of ours someone was making money on theirs.

Just like the whole boom time you've seen down here, has been a bust in NW PA.. I owned my house up there for 6 years and lost money on it, sold it for less then I paid for it, BUT here homeowners were raking in 20 - 25% increase in value PER year.. it all averages out to a national average of 6 - 7% That's why Real Estate has ALWAYS been considered a good investment. It has always beat what the banks pay for interest.
 
P

Pandora

New Member
itsbob said:
SO while you were losing money on your house in Carrington somewhere in this country of ours someone was making money on theirs.

Just like the whole boom time you've seen down here, has been a bust in NW PA.. I owned my house up there for 6 years and lost money on it, sold it for less then I paid for it, BUT here homeowners were raking in 20 - 25% increase in value PER year.. it all averages out to a national average of 6 - 7% That's why Real Estate has ALWAYS been considered a good investment. It has always beat what the banks pay for interest.
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Sucks to be us I guess. We'll blame buddylee for this even though he was probably on his big wheel at the time. :mad:

Thanks for explaining it. I wondered where they got that average :jameo: stuff from, because it is tough to believe that when you had to write a check to get out of a house.
 
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