Less jingle in the pocket ?

[LWJ]

Again. No parf please.

An observation. House prices in Portland Metro have come down. What was 1.3 a few months ago is now under 1MM. Still this is insane in relation to wages. I am lucky that I have been a homeowner for decades and have ridden the equity escalator so this is largely academic from my perspective.


Also, discretionary items are also less crazy. I have been shopping for an enclosed trailer and nothing has been under 3000. I saw three 5x7 in mid 2000 ask price.

Interest rates make perfect sense to move home prices. The discretionary items point to a real pinch on the consumer wallet.

It makes one pause and say “Hmmm.”

[WPOZZZ]

They aren't coming down in Hawaii.

[Gogar]

my 1100sf house was about 1.1 two years ago and i could sell today for 1.5 without hitting the market. And house would get bulldozed 24h after the permitting.

built a 172" custom sprinter van 18 months ago for about 170 and could sell it immediately for low $200s.

So you may be right but very conditionally. Without parfing it I'm going to suggest that Portland is much less desirable than it was 10 years ago. Only two times I've had to avoid human poop on the street was in east Portland and Arcata CA.

[Alan A]

Originally Posted by Gogar

my 1100sf house was about 1.1 two years ago and i could sell today for 1.5 without hitting the market. And house would get bulldozed 24h after the permitting.

built a 172" custom sprinter van 18 months ago for about 170 and could sell it immediately for low $200s.

So you may be right but very conditionally. Without parfing it I'm going to suggest that Portland is much less desirable than it was 10 years ago. Only two times I've had to avoid human poop on the street was in east Portland and Arcata CA.

Two letters for the poop - SF

[LWJ]

Portland’s got the poo. Agreed. Different topic. I’m talking about the burbs. No poo here. Very desired.

Compared to 2 years ago? Prices are up. Compared to February? I think there is movement.

[flatbutt]

Originally Posted by Gogar

my 1100sf house was about 1.1 two years ago and i could sell today for 1.5 without hitting the market. And house would get bulldozed 24h after the permitting.

built a 172" custom sprinter van 18 months ago for about 170 and could sell it immediately for low $200s.

So you may be right but very conditionally. Without parfing it I'm going to suggest that Portland is much less desirable than it was 10 years ago. Only two times I've had to avoid human poop on the street was in east Portland and Arcata CA.

1.1 MM for 1100 sq ft? Is it on 1000 acres?

[HardDrive]

Originally Posted by flatbutt

1.1 MM for 1100 sq ft? Is it on 1000 acres?

We have a 1000 sq ft shartbox, and I mean *nasty* house in Seattle. I get $800k offers on it.

[cantdrv55]

My relative bought a newly remodeled but small house (1800 sq ft) in the Oakland Hills. One car garage only with a very steep driveway. You’d better be in good physical shape to climb up the steps to get into the house if you’re not driving up. I sheet you not, they paid $2.4M due to a bidding war. Eff that.

[Bugsinrugs]

Originally Posted by Alan A

Two letters for the poop - SF

Yep.. SF

[Por_sha911]

Portland has been getting a lot of attention in the press.
Location Location Location.

[masraum]

Originally Posted by flatbutt

1.1 MM for 1100 sq ft? Is it on 1000 acres?

The west coast, nice to visit...

[jcwade]

Originally Posted by bugsinrugs

what can brown do for you?

[Scott R]

Originally Posted by flatbutt

1.1 MM for 1100 sq ft? Is it on 1000 acres?

Washington Park in Denver, I have an apartment there. He's not kidding about the bulldozing either. A house comes up for sale there, which is rare, and the new owner just knocks it down and builds a new two story glass and square setup.

[masraum]

I've heard from someone that read an article, that the housing market which has been insane is starting to deflate a bit. If that's true, then yeah, I would expect prices to be falling some. It was unlikely to stay as insane as it was indefinitely.

[masraum]

Originally Posted by Scott R

Washington Park in Denver, I have an apartment there. He's not kidding about the bulldozing either. A house comes up for sale there, which is rare, and the new owner just knocks it down and builds a new two story glass and square setup.

We live in an apt near downtown Houston. It was on a corner of an old neighborhood from the 1920s. The lots were mostly ~5000sf, and the homes were mostly 800-1500sf. When those houses came up for sale, most of them were bought for the lot value, demolished, and the lots were then divided for 2-4 townhomes that were 2-4 floors and 2500-4200sf and ran $550k-$1.2M. Some were attached townhomes and some were detached (separated by ~18-36").

There were a few homes that had either been renovated inside or added on to or were maybe custom when they were built, that were kept, but that was unusual.

One home on a corner was torn down. It was replaced by 3 separated homes with the prices running from $850k - $1.25M.

[KNS]

Originally Posted by flatbutt

1.1 MM for 1100 sq ft? Is it on 1000 acres?

My sister recently sold her house in Sierra Madre, CA. 980 sq ft on postage stamp size lot - 1.2MM.

[Brian 162]

I sold my house In April, went on the market April the 5th and sold on the 11th. I had 4 offers and got 1.5. My place was on a postage stamp lot as well. I paid $364,000 in 2004
I bought twice the house in a smaller town for 1.3
One other thing, interest rates went up the day after I sold.

[flatbutt]

Who can afford 1+ MM for such a small house? That's nuts.