Eastern NE is slow. Homes above $175K are just sitting. Prices are starting to fall. Maybe foreclosed homes on the market.

Liberal lending policies were giving loans to people that could not pay them back.

 

They seem to be throwing up Condos like mad around these parts! It's insane!

Iron Mike -- You built a 3700 sq. ft. house for $185,000?! Friends of mine built a 3100 sq. ft. house last year for $330,000! It's ridiculous the price of new homes in my area! Especially since the jobs are declining in record numbers w/ the auto industry laying off tons of people!


Tony

 

Cheyenne, WY:

Population: 50K

Number of houses on the market: 1100+!


My wife and I are hoping and praying for ours to sell, because Uncle Sam says we have to move.

Our house appraises for over 145, but we're hoping to get 137.9.

I'm not at home, but wife got a call from realtor and we may have a buyer. They've looked at the house for the fourth time today, and that's 4 times in the last week!

They looked at every single one of the over 100 houses listed in town under 140, and they said ours was one of the two best, so that's encouraging. No smoking, no pets, and decent upkeep with yard and cleaning and such really *can* make a difference I suppose.

We live in a twinhome development (cookie cutter), and houses just down the street haven't been getting many lookers even at a lower (than ours) price.

Lord willing, we may get an offer today.. I hope it's enough to cover realtor fees and all that, and maybe even make a little.

hj

 

Laredo and South Texas?

Ranches are insanely high, ive seen some as much as 200K an acre, and real estate? just as high, a small 2 bed 2 bath house (1200 square feet or so) can reach into the 300K in some areas here, others can be as low as 80K and everything in between 80 and 300K.. It just varies alot..

Rick

 

Yeah I did. It was 6 years ago. I did all my own subbing and a lot of the work myself. I designed it myself and did my own blueprints with some cheap software. The 3700 does not include the attached garage. That is 3700 living, it's a Ranch with full finished basement that is a walkout. There are 3 bedrooms, a full bath, Family room, furnace/storage room and kitchenette in the downstairs /basement. Upstairs we have 2-1/2 baths a huge kitchen/dining area, Utility room, Master bedroom, Living room, and a combination office/sewing/ guest bedroom. Not counted in the square ft is a 14x 18 sun room off of the kitchen. My favorite room in the house because of the view. $185,000 doesn't count the lot either. I paid $84,000 for my 100 acre lot about 12 years ago. We paid it off then built a new house on it. The $84,000 included the old farmhouse that you can see off to the left side. We lived in it until the place was paid for. The old house is no longer there. The new house is all brick, all solid oak trim including solid oak 6 panel doors and oak cabinets. 6" sidewalls, house-wrapped and Anderson windows.
It would cost me more to build it today I'm sure, but I know I could do it for way less than than $330,000.

I have been very blessed, I got a good deal on the ground. But as my earlier post states affordable housing is available around here.

 

WOW! That is an awesome chunk of land you have there! Beautiful!

 

Nice place Iron Mike

that is exactly what i would like to have. Looks like nice hunting. Do you have that pond stocked full of fish?

 

Beautiful place Iron Mike! Wow...$84,000 for 100 acres? Unbelievable!

 

Up here realestate is stupid. Lots of people are getting more than their asking price. I bought mine, nothing fancy, 1190 square foot bungalow with a 24.5 x 26.5 garage, landscaping needs work, sidewalks need pouring, and for $168,000 just under two years ago. Today, I could sell it for over $100,000 more. But, for what result....to end up spending all profit and then some to upgrade. I think I'll stay put.

 

Thanks for all the compliments guys. I know that I got a steal at that price for the land and old farm house. My wife and I are truly blessed. The property is a wildlife paradise. Turkeys, Deer, Geese, Ducks, Quail. The big pond by the house was stocked with Channel Cats. We had a big fish kill last year and lost all of them. Probably about 60 of them where floating, not a one under 18". The BlueGills and Sunfish lived. I am going to put up a windmill aerator then I will restock with Bluegills and Bass. The wetland in the bottom is real shallow. But I stock a bunch of shiners and bluegill in it every couple of years. The Heron's have to have something to eat. I am posting a couple of other views of the place in my gallery. We really love the place. It is a dream come true. After we got the new house built, I kept waiting for something bad to happen. I figured I didn't deserve that much happiness. Like I said we are blessed, not lucky , blessed. I love it out here but will say there is a kind of downside. There is a lot of upkeep. I finish mow something like 3 - 4 acres. I maintain my own 1/2 mile long lane. I bush hog about 25-30 acres every year. The thing is I love doing that too. . Diesel Kubota mower. Diesel FWA tractor for bush hogging. Working outside is kind of like aromatherapy without the candles.

 

6 years ago I bought my house for $84K. I realy dont know what the curent value is. It is a 2 story with a finished basment that was advertised as 2500 sq/ft. 4-5 bed and 2 bathrooms, BIG fammily room and small fireplace room/den. It has a 2 stall atached garage and a single unattached. It sits on a double lot,3/4 acer rite on the edge of a small town(population of around 700-1000 max). LOTS of trees big yard and nice patio and gazibo(sp) in back. Around here this is a nice house. Personaly I dont feel sorry for people in Cali that are getting bitten buy the market dying. How dumb do ya have to be to balive it was never gona end? It did and people where in a bad spot when it did. They are grown adaults that made the bad deciosion to put themselves in that spot and now they are paying for it. It bad that it happened but how long could it realy go on like it was? The prices of houses out there and all over the country where/are rediculouse(sp). I REALY want to move from here in Iowa but I will never pay the prices for housing that is common in other areas of the country. Anything over 100K is obsoured. There are several houses for sale in the neighboring town where I work that are over 100K but they are not selling very fast. Some doctors built new houses that where real fance a few years ago and now they want to move and have them for sale for around 300K. They will literaly NEVER sell. Some rich moron built a new log house on an acerage close to here 5-10 years ago and thought they would build it as a spec home and sell it. No one ever moved in when it was done. They where asking over 200K for it. I havent seen it advertised lately so I think it finaly sold recently or they just gave up or got it reposesed. I am afraid I am stuck here for now. I am trying to convince the wife to move to Colorado or any state in the Rockies for that matter. That is the only way I will EVER pay over 100K for a house and it WILl NOT be in a town over 2-3000 people, Preferably not in a town at all. I love Iron Mikes setup but I would die with a payment on something like that. I cant stand my $725 including escrow payment. The $1800+ rent spoken of earlier is obsoured. Around here that would buy any house or 2 or 3 and then some you wanted. All my bills total including camper and ATV payments are barely over $2000/month. I couldent emagine that kind of rent. The last house I rented was 3 bed with a 2 stall garage. It wasent very nice in the grand sceam of things but it was decent for a rental house. That was $350 month and I thought I was getting hosed. You guys can keep your housing costs, and Ill keep mine.

 

My payment probably isn't as high as you might think. $862 a month. When the 2 oldest get out of college, we will start paying it off quicker. Right now we have 24 more years to go. I know, we shouldn't have gone over a 15 year mortgage. But I wanted to give myself some breathing space. About 3 years back I had to stay in Houston for about 9 months for work. My 1 bedroom apartment was costing me about $475 a month. Luckily that was subsidized by my Company. It just seemed insane to be paying that much to rent a 1 bedroom apartment.
See what $862 a month will get you.

 

I don't know much about the city dwellers in Stillwater anymore, but with OSU here, house prices seem to stay pretty high. As for the sticks, were we live, land is out of sight. We paid $1250.00 / acre for 160 acres three years ago and the local land now is selling for $1500.00 / acre. Plots smaller than 20 acres are upwards of $2000.00 to $3000.00 / acre. We sold our 1150 sqft house in Stillwater back in May for $94,500 with two car garage, corner lot, remodeled. The house was built in 1978. New homes of the same size are selling for $120,000. Anyone want to help pay off my land? Didn't think so.... My calves pay for most of it.

 

The market sucks around here. I'm just totally disgusted by it
The 3br 1.5ba, 1800sf, .25acre, no garage house we bought last April (2005) ended up being $104,000 which is now $889 per month due to rising property taxes. Also it was built in 1978, so it's not new by any means. The ONLY good thing about it is that it's close to base, so it's a short trip to work.
When we found out we were coming to the Black Hills, the first thing we thought of was a modest house on an acre in the hills/pines....maybe if we had $250-$300k for a place
Anyway, before we moved to Alaska (in 2001) everybody told us it was so expensive there. Well it's nothing compared to Western S.D. Back in AK we bought a brand new 5star, 4br, 2ba, 1700sf, 2 car attached, 1/2 acre for $147k. It was a nice 40 minute drive to the base that I loved...time to wake up in the am, and time to unwind in the pm. We sold it for $183 four years later....not bad.
Well we can only hope to get back what we've put into it when it comes time to sell.
I volunteered for duty in Korea a couple weeks ago, so that may be our ticket back to the Last Frontier

 

I would love to get land for 2-3000 per acre. Rural land near me can go for anywhere from 5k-20k per acre.