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Started By
Message
The insanity of housing prices these days
Posted on 12/22/21 at 11:08 am
Posted on 12/22/21 at 11:08 am
LINK
3 bed, 2 bath, new construction, 1800 sq ft house, 5,000 sq ft lot, no garage.
In CHALMETTE.
Was originally listed in August at $329,900. No bites, was delisted and relisted (this should be not allowed - just plays with "days on market" metric) at $319,900, and now is $314,900.
$173/sq ft for new construction that is rather meh looking, small lot, in the suburban sprawl that is Chalmette, no defined neighborhood, etc.
In 2015 I bought in a nice neighborhood in St. Bernard, 2,000 sq feet with dethatched garage, solar panels, corner lot, an additional half bath... rebuilt completely in 2011 (was gutted after Katrina), for about 50% of this property's original price of $329,900.
I may not understand the market but I can't imagine paying more than $200K, at most, for this house.
This is probably why I will never move. I'd like to buy more house but the prices are stupid insane.
3 bed, 2 bath, new construction, 1800 sq ft house, 5,000 sq ft lot, no garage.
In CHALMETTE.
Was originally listed in August at $329,900. No bites, was delisted and relisted (this should be not allowed - just plays with "days on market" metric) at $319,900, and now is $314,900.
$173/sq ft for new construction that is rather meh looking, small lot, in the suburban sprawl that is Chalmette, no defined neighborhood, etc.
In 2015 I bought in a nice neighborhood in St. Bernard, 2,000 sq feet with dethatched garage, solar panels, corner lot, an additional half bath... rebuilt completely in 2011 (was gutted after Katrina), for about 50% of this property's original price of $329,900.
I may not understand the market but I can't imagine paying more than $200K, at most, for this house.
This is probably why I will never move. I'd like to buy more house but the prices are stupid insane.
48
Posted on 12/22/21 at 11:11 am to LSUFanHouston
quote:
I may not understand the market but I can't imagine paying more than $200K, at most, for this house.
we need a street name... $300k is very plausible on some streets
Cantrell isn't our mayor you know.
This post was edited on 12/22/21 at 11:13 am
Posted on 12/22/21 at 11:11 am to LSUFanHouston
quote:
but I can't imagine paying more than $200K
200k doesn't get you a fricking dog house these days.
Posted on 12/22/21 at 11:11 am to LSUFanHouston
Who would buy a house in Chalmette
Posted on 12/22/21 at 11:12 am to LSUFanHouston
quote:
but I can't imagine paying more than $200K
Have you been asleep since 01 bro?
Posted on 12/22/21 at 11:12 am to LSUFanHouston
That house would be $1.3 million plus in my neighborhood in Naples. A lot more if it's on one of the fingers coming off of Naples Bay.
Posted on 12/22/21 at 11:13 am to LSUFanHouston
Zillow shows my home has increased in value by 86% in 5 years. That is an increase from $88 per square foot when it was built in 2016, to $146 per square foot today.
Posted on 12/22/21 at 11:13 am to LSUFanHouston
The issue is that you are comparing the price of new construction to a home that was flooded in Katrina.
Also, for new construction homes in the last year: cost of materials have gone way up.
Also, for new construction homes in the last year: cost of materials have gone way up.
Posted on 12/22/21 at 11:14 am to LSUFanHouston
300K is almost the norm now. So wild.
Posted on 12/22/21 at 11:15 am to madmaxvol
Yep even my home in southern MS has increased at around 10% per year since 2018 it’s nuts
Posted on 12/22/21 at 11:15 am to chalmetteowl
quote:
we need a street name... $300k is very plausible on some streets
On Veronica... in the back near Val Reiss... that's where the OP house is listed.
This isn't Jumonville North...
Posted on 12/22/21 at 11:16 am to LSUFanHouston
You cannot find a decent house in an okay neighborhood for less thank $350k in DFW. This has been the reality for a long time.
Just be glad you presumably have a house with a whole lot of equity to hold onto.
Just be glad you presumably have a house with a whole lot of equity to hold onto.
Posted on 12/22/21 at 11:16 am to TheSadvocate
quote:
Have you been asleep since 01 bro?
I bought my house in 2015 for 160K... about 80 per sq ft
Posted on 12/22/21 at 11:16 am to LSUFanHouston
Posted on 12/22/21 at 11:17 am to LSUFanHouston
We are building anew home for $239 sft... 2961 sft .
You can't build for less.
You can't build for less.
Posted on 12/22/21 at 11:18 am to ShermanTxTiger
Including lot?
Posted on 12/22/21 at 11:18 am to Ben Hur
quote:
The issue is that you are comparing the price of new construction to a home that was flooded in Katrina.
I bought my house completely rebuilt after Katrina. All I did when I moved in was paint.
quote:
Also, for new construction homes in the last year: cost of materials have gone way up.
Sure. But that seems like an issue for the contractor, no? Doesn't mean I have to pay it.
Another reason why I won't be moving anytime soon.
Posted on 12/22/21 at 11:18 am to LSUFanHouston
quote:
On Veronica... in the back near Val Reiss... that's where the OP house is listed.
they could have a little more within walking distance... but it's a nice and quiet enough neighborhood
This post was edited on 12/22/21 at 11:22 am
Posted on 12/22/21 at 11:19 am to LSUFanHouston
Gray on gray on gray on gray.....white trim!
Posted on 12/22/21 at 11:19 am to LSUFanHouston
I’m very thankful for my former slumlord dipshit who accepted my offer of $230k for a 2200 sq ft house in Vestavia Hills, AL with nearly an acre of land.
House up the street from us (which needed way more work than ours) sold for $360k three months later and they had less land.
House up the street from us (which needed way more work than ours) sold for $360k three months later and they had less land.
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