Here's what $240K will get you in the Midwest..more RE reality

[onewhippedpuppy]

Beautiful place Hugh!

[aigel]

What would this rent for? You'll need $500 a month just to cover the taxes. Never under-estimate the cost associated with renting out a place. It may be easier to get it over with now with a smaller sloss than to prolong with a tenant that may leave the house in worse shape to sell ...

Of course, if you owe little on it with a small mortgage it is a different story.

G

[MotoSook]

Originally Posted by Hugh R

Nice looking house. In my neighborhood a house like that in a tract house area with a 1/2 acre lot (mostly unheard of) would be $750K in today's market. However, if you want something NOT in a tract house area, you can get something like mine which is about $700K in today's market. 3,000 sq. ft. one story, with 18 acres that looks something like this.







BTW, I'm 2 miles north of the Los Angeles City limits. The snow pics are from last Sunday. Haven't seen snow here in 24 years. It will get down to about 30 degrees in the middle of the winter, but will get to 105 in the middle of the summer, but very low humidity.

Nice frost there.

That looks like a wonderful place Hugh. Our 16 acres on the fringe of the burbs was puchased for <$600K. Another 5-10 miles out, you could get something similar for maybe $500K in today's market.


George, the rent would have to be $1600 to cover expenses, and a place like that could rent out for $2000/mo. I just don't want to deal with renters (yet) and I fear for the wear and tear on the place. Renting to friends would be the best option but then I also fear it may lead to soured relations. I think the wife and I have somewhat agreed it's best to sell the place.

We're hoping to move my parents into a guest house on our farm (if the county will permit a small house for them) in the next 12 months. If we can't sell the house, in short tim at a price we can live with, maybe we'll move my parents into our old house and hold off on the construction on the farm. There house will probably sell faster since it's in an old part of town where there are still buyers for that level of home...about $100K-120K, for which it makes sense for people to buy rather than rent.

[Hugh R]

Originally Posted by Soukus

Nice frost there.

Frost? That was a freaking blizzard by our standards!!!