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re: 2 houses right around the corner from each other, 2 years apart price difference
Posted on 1/31/23 at 10:00 pm to sonicbaw350
Posted on 1/31/23 at 10:00 pm to sonicbaw350
Well depending on which lot it is, you may be able to sell it for more than you paid. It’s a great neighborhood though. Not sure what you are into, but we have an awesome younger crowd of golfers, hunters, drinkers, pickle ballers, etc…..we loved it so much we built another house out here. Wouldn’t consider leaving at this point. Consider waiting for rates to decrease and/or building a smaller house?
1
Posted on 1/31/23 at 10:18 pm to buffbraz
Good to know. May not be out there as soon as we hoped, but may start looking at the smaller lots as well.
Posted on 1/31/23 at 10:19 pm to sonicbaw350
We went from a big house to a small house. Couldn’t be happier. Depends on what you want though.
Posted on 2/1/23 at 12:27 am to slackster
I'm not in LA but I closed on our house April 1, 2020 as COVID shutdowns started.
In 2022 I could have sold at 100% gain. It was crazy
In 2022 I could have sold at 100% gain. It was crazy
This post was edited on 2/1/23 at 12:28 am
Posted on 2/1/23 at 6:00 am to Teddy Ruxpin
Same here. We bought October 2020. The house jumped 60% in value at one point. It's still up 30%.
Posted on 2/1/23 at 6:41 am to sonicbaw350
quote:If builders are asking $715,000/2600SqFt in that location, it might be a great time to sell your property at a premium ... before they realize out those prices won't fly.
That's why I'm considering selling ??
Posted on 2/1/23 at 7:56 am to NC_Tigah
The lot next to ours just listed for almost double what we paid. We think they'll never get that but they might be on to something. Might list ours fairly high just to see if we get any bites.
Posted on 2/1/23 at 7:57 am to mtcheral
quote:
Has to be the finishes then. I’ll bet the first needs a lot of upgrading vs the second that will be brand new
The lower priced one is brick. The new construction looks like it’s going to be all siding.
Contractor is just seeing what he can get.
Posted on 2/1/23 at 8:04 am to sonicbaw350
Well let's see if they get it.
I can tell you down here, the housing market has basically stopped.
Two examples:
1) House was listed for 279K last summer. DId not sell. Dropped to 264K, Was pulled in September. Relisted in November for 244K. Driooed to 234K in Decembe. Price drop this week to 229K, plus now offering 5K in closing cost assistance and all applicances stay.
2) Two new construction homes back to back to each other. Asking 325K and 329K. Both on market over two months. Builder has built other homes in this area that have sold well before completion. I know the realtor. Neither have dropped listing price. The one listed for 329K just went under contract, accepted 301K plus 10K in closing cost credits.
In our area, the builders aren't reducing list prices but they are increasingly willing to deal.
2)
I can tell you down here, the housing market has basically stopped.
Two examples:
1) House was listed for 279K last summer. DId not sell. Dropped to 264K, Was pulled in September. Relisted in November for 244K. Driooed to 234K in Decembe. Price drop this week to 229K, plus now offering 5K in closing cost assistance and all applicances stay.
2) Two new construction homes back to back to each other. Asking 325K and 329K. Both on market over two months. Builder has built other homes in this area that have sold well before completion. I know the realtor. Neither have dropped listing price. The one listed for 329K just went under contract, accepted 301K plus 10K in closing cost credits.
In our area, the builders aren't reducing list prices but they are increasingly willing to deal.
2)
Posted on 2/1/23 at 8:14 am to sonicbaw350
quote:
First house sold in the summer of 2020, the other was posted today
Found another part of your problem. You’re looking at a sale price for one and a list price for the other. People can list at whatever they want but the house is only with what it’s worth.
Posted on 2/1/23 at 8:29 am to Chucktown_Badger
I get that, but the other started listing at $415k. I still can't get used to the jump in the last couple of years.
Posted on 2/1/23 at 9:05 am to GeauxldMember
quote:
Is one on the course and one not? That could explain some of the premium. Either way, $270/ft for the area seems pretty steep.
Last year in my neck of the woods, building prices for a high-end home alone, not including land and prep were between $450-650 sq/ft. It is ludicrous.
Posted on 2/1/23 at 9:13 am to sonicbaw350
Nearly 3/4 million for a 2600sq-ft house in Abita Springs?
Are the floors all Brazilian Cherry hardwood, countertops all marble and toilets all Toto?
No way someone pays close to that.
Are the floors all Brazilian Cherry hardwood, countertops all marble and toilets all Toto?
No way someone pays close to that.
Posted on 2/1/23 at 9:51 am to oneg8rh8r
The housing market around me is still crazy. There are only 5 homes out of 126 for sale that are under $1M
This post was edited on 2/1/23 at 9:52 am
Posted on 2/1/23 at 10:50 am to sonicbaw350
What lot is it? I can ride by it and let you know what’s for sale around it.
Posted on 2/1/23 at 2:11 pm to MSTiger33
quote:
are people really spending that much for a new house in Abita Springs
Yes Money Hill is undergoing explosive growth and the demand from people leaving New Orleans is incredible.
Posted on 2/1/23 at 2:17 pm to GeauxldMember
quote:
Either way, $270/ft for the area seems pretty steep.
Tchefuncte Country Club is now averaging $332 sq ft so $270 is not out of line.
Posted on 4/20/23 at 10:16 pm to sonicbaw350
Update...same neighborhood
Posted on 4/21/23 at 6:14 am to sonicbaw350
It’s a really nice house (it was on the parade a few years ago). By the way, the house that started this thread still hasn’t sold.
This post was edited on 4/21/23 at 8:54 am
Posted on 4/21/23 at 8:46 am to MSTiger33
quote:
are people really spending that much for a new house in Abita Springs?
Not familiar with Money Hill,are you?
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