Tuesday, Apr 28, 2009
From across the pond: how low can they go?
Calculated Risk (blog): Another House "Deal of the Week"
Here is the price history for the featured 1,442-square-foot home:
July 1997: $60,000
August 2006: $330,545
January 2009: $96,000
This isn't an outlier; this is pretty much the neighborhood average. Homes similar to this 1,442-square-foot, single-family house have been selling left and right in the $100,000 to $120,000 range in this area. Dropping into five figures isn't uncommon. How much is the mortgage payment on a $96K home? Probably just over $500 per month for principal, interest, tax, and insurance.
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[The number of transactions seems to be picking up in California now that prices have fallen to affordable levels. I wish the UK would hurry up and crash properly too!]
Posted by drewster @ 01:35 AM (303 views) Add Comment
1 Comment
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1. Cowboy said...
It's taken USA 4 years to get there, we are just in the first quarter!