Real Estate pricing in your area?
 

Have you guys seen a drop in housing prices, or have you seen some recovery in your area? I tell you what, my wife and I have been looking and there aren't many low priced houses in our area. We are looking to go rural, about 30 minutes from a major city, looking for 5-10 acres. Most everything is selling for $199,000 up to 250,000 all day. Even bank properties are selling for $180,000. I was suprised to see properties with mediocre houses selling for that high of prices in the area I am.

Asking price and selling price are different, especially if it's bank-owned. My nephew found a foreclosure and offered them 20% below their asking price (which had been lowered twice before). They said no at first, but called back a week later and said they'd take the offer.

I've been here a year.

We're in a small town and the realtors when we were looking paid tickets to ride Mr. Rodger's trolly and tried to sell us like there was a prince living next door and housing values were in imagination-land.

Once the loan was approved we asked them to drop 40k and they gave up 30k.

Immediately.

It's a pretty simple negotiation: if they know you need it they bend you over. If you don't and qualify for much higher than the list price they bend over and tickle your balls to sell...

True, but properties are selling for crazy money. We went to a bank auction, log cabin style house, 1900 square feet, 5 acres, interior was pretty rough. Sold for 220k.

See that is where I am sitting. I am perfectly content in our condo that I am renting, my land lord is great. I can move whenever I want, we put a couple offers in with houses we were comfortable with and they were denied, on to the next one. We have time and money on our side, I was just a little shocked at what things have been selling for in my area.

I'm not sure about actual value, but the county-appraised value of my house has been uncharacteristically volatile over the past couple of years. From 2007-2011, it decreased modestly pretty much every year (1%-3%).

Then last year (when I thought the market was actually IMPROVING) it dropped like 6%. Slightly disconcerting, but I wasn't going to argue. This year, when I feel like the market has been pretty flat, it has gone right back up 6%+. Doesn't make any sense.

local govt needs more income? increase appraised value.

Don't know about acreages or rural areas, but in Omaha if you don't want to live in a ghetto you're looking at $140k+ for a decent house.

The real estate agent I am using said the same thing as a possibility.

Tax valuations aren't an accurate gauge of property value.

See I would feel like that is good value, but even the dumpy houses that are far out are going for $180k and up.

Well with acreages you have to factor in land values just as much as the house value. I doubt land values have seen the hit that housing values have.

8832 N Farm Road 117 Wonderful opportunity to own 21.7 ACRES, FULLY FENCED WITH GATES, WITH A POND AND A SPRING, WILLARD SCHOOLS and a 1908 SQ.FT. HOME. Property needs TLC but would make a wonderful home on a property with incredible acreage. This is not a foreclosure or short sale. Property has been priced to reflect it's current condition. Property sold as is where is with buyer's right of inspections. **NOTE PRICE REDUCED TO REFLECT 2ND PARCEL REMOVED FROM LISTING. ACREAGE REDUCED FROM 38.15 TO 21.7**

Information last updated on 03/13/2013 11:51 PM:
•Price: $129,900
•4 Bedroom(s)
•2.5 Bathroom(s)
•Single-Family Home
•Fireplace
.•Status: For Sale
•Lot Size: 21.7 acres
•Built in 1969
.

Are you thinking about moving? Just a hunch. :p

There's the reason. TLC is a euphemism for tens of thousands of dollars to keep shit from falling down.