Is the housing boom over?

[1ViciousGSX]

It has alot to do with location. For what I paid for my house in Florida, I could be living in a "gated" community with security and a big ol' lake at my backyard in Louisiana. The housing market is still pretty strong here. I paid $290k for my house here in FL, but it appraised at $315K before I even got the papers signed.

[Outlaw1]

I was shocked to see the price of houses in this area. Around Houston you can buy a nice starter home for ~$100,000. The houses around this area seemed to start in the mid/low $200,000's. I still don't understand where all the extra money goes. Is the land way more expensive? Are the materials more expensive? I'm I just in the wrong business?

[JET]

A lot in the cities is usually $85k+ for a 1/4 acre. We are also the most spread out metro area over 1mil people (population density), so they shouldn't be all that high, but they are. You can make a killing if you time it right. I just talked to a customer that bought a house in St. Michael 3.5 years ago. It appraised now at almost THREE TIMES what she paid for it! They put 4 housing developments around her. Timing and location are key.

[Shane@DBPerformance]

I was shocked to see the price of houses in this area. Around Houston you can buy a nice starter home for ~$100,000. The houses around this area seemed to start in the mid/low $200,000's. I still don't understand where all the extra money goes. Is the land way more expensive? Are the materials more expensive? I'm I just in the wrong business?

Texas has some of the cheapest and most undervalued housing though.

[Halon]

I too am looking at buying my first home right now. I have come to the conclusion that for the price I'm looking at, most houses I'd be getting would be built in like the 30's in columbia heights or something. So I've decided to get a townhouse since they seem to be cheaper. Winter time is pretty much always the buyers market, because people who are moving away in winter are usually doing so because they have to move, otherwise they'd have waited until the summer when it's not freezing out. That's what I have been told by the realtors I've been speaking with

[Kracka]

I too am looking at buying my first home right now. I have come to the conclusion that for the price I'm looking at, most houses I'd be getting would be built in like the 30's in columbia heights or something. So I've decided to get a townhouse since they seem to be cheaper. Winter time is pretty much always the buyers market, because people who are moving away in winter are usually doing so because they have to move, otherwise they'd have waited until the summer when it's not freezing out. That's what I have been told by the realtors I've been speaking with


Any particular townhomes in mind? I looked at some this summer and found a few that I really liked in the sub-$200k catagory.

[A//// Guy]

I am also looking already Chris, I found a few right below the river in Eagan with 2 car garages for aroudn 175, newer built. Im going to need a good garage, thats all I really care about, that and location cant be too far away and would like to stay in the south metro. You guys are probably looking north though huh?

[ABV]

I too am looking at buying my first home right now. I have come to the conclusion that for the price I'm looking at, most houses I'd be getting would be built in like the 30's in columbia heights or something. So I've decided to get a townhouse since they seem to be cheaper. Winter time is pretty much always the buyers market, because people who are moving away in winter are usually doing so because they have to move, otherwise they'd have waited until the summer when it's not freezing out. That's what I have been told by the realtors I've been speaking with
I'm in the same boat. A year ago, I was planning on buying a house or at least starting to look at the end of 2005 or early 2006. I've decided that I'm just going to wait it out and see what happens. The last thing I want to do is take out a 100% mortgage at the top of the housing peak. So I'll just wait a couple years, save up a big honkin' down payment, and go from there. A house would be nice, but more than likely I'll end up with a townhouse considering the locations I would like to buy in.

[Steeltwo]

god damn
you guys must make an assload of coin to afford a 180k house.

[Kracka]

Just remember guys, if you aren't able to put 20% down, you'll have to buy mortgage insurance. Not that expensive, but still an added expense for really nothing.