This is a brand new listing in MY neighborhood. It's a tacky, little, run down, dump of a house, just 1/2 block from me. Around here, the asking prices are often lower than what they sell for eventually. I can't believe anyone would pay that much for a house under 900 square feet! It will sell though, just for the land value and then they will build a duplex on the back lot and rent it all out for mega bucks (about 1200-1500 a month). The price we pay to live in glorious San Diego with it's awesome weather. Another house, also small, was listed for 329,000. It just sold (in less than a week) for 400,000! Amazing. Bidding wars all over.

http://www.zillow.com/homedetails/1137-T...ch-forsaleimage

How are the prices of houses where you live?

That's awful, Sorta.

Our prices are way too high for me, but downright cheap when compared to that

I remember when I was a little gumper a house that sold for $100,000 and it reminded me of a hotel. These days $100,000 won't even purchase the lot.

Just like in Denver - my son recently sold their 65 year old - small, but nice - house for over $400,000 in CASH! There was a bidding war between 3 buyers and they just sat back and watched. Just bizarre.

Exactly what I'm talking about. All around here people are willing to pay the most outrageous prices for a 'tear-down' dump. A 'fixer' is one thing, but the houses I've looked at lately are sooooo bad. I keep getting realtors calling ME offering to buy my property but I'm never selling. If I did, I'd be like my neighbor's friend who somehow got convinced to sell her totally paid off 3 bedroom house and move into a tiny apartment. Now she's paying way more than she ever did for her old mortgage and having to put up with all sorts of loud people, nasty landlords, frequent rent increases, etc. She will never be able to buy a home again and is miserable where she is. She is now planning to move back to Kentucky and she knows NOBODY in Kentucky. She is just picking a state to move to. Very strange. Poor lady.

Sorta, that is sad

I don't think there are many houses, if any, in Calera that would sell for that much. Mine is only 1064 sq ft, fenced yard, & no garage. I paid $73,000, and it's just across the highway from two huge casinos.

The thing is, Dallas businesses and development are expanding this way very rapidly, and more and more Texans are moving up here and commuting just to get away from the crowds, and higher taxes.

They don't make anymore land, and everyone is acutely aware of that. The millionaire that bought our old place which had 38 acres, also bought 60+ acres next to it, and wants to buy everything else around it.

My great great grandfather at one time had 1200 acres in East Texas from a Spanish land grant. Over the years it was all sold off.


joe

I would be happy living in the middle of 1200 acres with only one road in and a high wall with barbed wire on top and crushed glass and then a moat around the house with some nasty fish and then maybe some machine guns on a tower just in case anyone manages to get that far.

Read this and weep. 26 years ago the house and land -13.85 acres- that I bought was listed for 89,000$ but they couldn't sell it so they came down to 62,000$ and wow!!! I bought it. It was a happening of right time right place for me. In 3 years I had paid it off and I'm still here. It's assessed for more than double now.

What a deal, Yankee! Three years to pay off? Mine will be paid off when I'm 130ish. Ha. Not kidding. By then my tenant/friend, will be living here and renting out the other 2 houses. We have a deal that benefits both of us. He gave me a private mortgage (just like from the bank) at a really good interest rate. I wrote up papers that if I die before the mortgage is paid off, he owns the property free and clear. After all, it's his money and besides he's getting great interest (better than a bank) on his money. AND if he dies, I get the property free and clear no matter how much I still owe. Awesome for both of us. All agreements are signed and notarized and iron-clad so each of us gets the benefit. Now we just sit and watch each other for signs of 'disaster'. Thank goodness this agreement was made 12 years ago or the police would have been very very suspicious if one of us suddenly died soon after the paperwork was filed.

I really shouldn't complain about my purchase though. Back in 2001 when I bought the property I paid 205,000 for THREE houses. Yup. All three on a 2/3 acre plot. Not a bad deal at all. And the income is a bonus. Wish the property taxes and insurances and sewer charges were a bargain, but I have to remind myself, that I have 3 houses, not just one so everything is 3 times more. Not complaining (well not too much).

Bravo Yankee.

Thank you,thank you, thank you one and all -I curtsie. However, there's nothing out here -no movies, stores, schools. It's called Blue Branch Texas. Sorta, remember you looked it up once and Space, it's on Google maps and if they feel generous they will show it. I forgot 2 more plusses. Didn't have to board my 3 horses and pony anymore and last taxes for the year were 606$.

My son, David, was adult and schizophrenic and lived with me and I had to get him out of Austin because he was doing destructive things. Here there was no place to go, nothing to tear up. At times I miss the city but too bad -gameboomers help.

I can attest to the fact that Yankee lives in the Boonies! Loads of miles and miles for miles and miles. Easy to find on Google Maps. It would be nice to not have your neighbors so close that you can hear their TV's or radio, or fights. OR smell their smoke (fireplaces, burning trash, and of course the usual cigarettes, cigars and the 'other' illegal stuff. Then again, no thrift stores? No 5 minutes trips to Wally Mart? No 2 block walks to the Chinese restaurant? Might be a little hard to adjust to.

Yeah, I miss the city at times. However!!! there are many times you can just taste the oxygen -oh, how healthy. Another however -I don't like the shooting because they are most likely shooting my wild boars
not so much of that now though -those jerks moved. To a city I hope. And of course we have our Jackson's store. Google that some time. Lotta brains swapped there.

With fall approaching it will be lovely here -all the colors and birds from the north. Something is worrisome though. There were no robins last year, what happened?

Same deal here, Sorta. We bought our house 30+ years ago for $150,000. Paid it off two years ago. (YAY!) The house next door is being renovated now, and we were told it will go on the market next month for $1.5 million. The San Francisco Bay Area is expensive in spots, and we are on a hill with a view, but still. Are they insane?

In the small "city" where I live know, you can buy a house that is in good/great condition for about $35,000. I do not miss the big city, even though it's not as big as your small ones over there, haha.

I bought my little slice of paradise in 1992. It was 10 acres, a 100 year old farmhouse, a barn, machine shed, hog house, septic and a well for $75,000. I completely restored/remodeled the house and have put roughly $75,000 and many hours of doing my own drywall work, plumbing, wood ceiling restoration and learning many new skills! I drew the line at electric though and hired that done. The last evaluation was done about 15 years ago for $250,000. Since it is only 6 miles from town - which is about 10,000 population and the county seat - and less than an hour from St. Louis, it is a very valuable piece of property and I'm told the valuation is much, much higher now.

My Slice of Paradise

Oh so beautiful, Drac. That is a very cozy home. Nice! Thanks for sharing.

Drac, my dogs would love your property! It is indeed a slice of paradise.

MaG, you live in a slice of heaven too!

Oh, I'm so jealous! You guys did great!

My little 1944 house is one I rented in 1978-1998. Then the landlord died and his wife sold me the entire 'plot'. That is my house on the street, a long driveway going to 2 rental houses, and a huge empty back lot which could be built if I wanted to and had the money (which I don't). After the 20 years of rent (which never got above 500, I bought it all for 202k and I became the Landlord. The rentals finally are at a point where they cover my mortgage, but the taxes? Arrragghhh! $3500. a year! Talk about money flying out of your pocket. You pay for living in a nice climate with loads of fun things to do. Still, I love it and my tenants are great. There is the bachelor guy who I've known since 1987, who got married very late in life and that lasted only 3 years. Then he needed a place to live and I just happened to be evicting a tenant (terrible mess). So he's been here since 2003. The other house is rented by the Aunt and Uncle of my original Landlords. They have lived here for 27 years. Nice huh?

Sometimes I just walk down my looooong driveway to the back of my property to pick tumbleweeds and castor bean plants before they get too large to handle. It's a 300 ft walk. Wow. Pretty good size for city living. Total property is 2/3 acre. Lots of buffer room between the neighbors, whose lots are about the same size all with empty back lots. Loving it.

It is beautiful, Draclvr! So pastoral. I'll bet it is peaceful and quiet, too. And yet, when you want some city life, it is just down the road. Ideal, really. And all that "sweat equity" has paid off, too. Must feel so good to walk out and look around at the lovely place you have and realize you are so much better off than you were in '92. Congrats on a superb job.

Thanks, everyone. What REALLY felt good was making the final mortgage payment 6 months before I retired in 2009!

What a beautiful property, Drac. The word "idyllic" springs to mind.

Now taking donations for mortgage payments to pay off mine! Geeee how I wish my mortgage got paid off so soon like some of you. At the rate I'm going, it's going to be after I die! Of course, I didn't buy my first (and only) house until I was 52 years old. I guess I'm a late bloomer.