Housing Prices

[Skip N]

Anyone have any opinions of what the housing market might do within the next year? Its really getting frusterating house hunting and seeing all these inflated prices in Rhody in Mass. Its freakin impossible for a single guy with a single income to own a home in this region. I seriously need to consider moving down south, nicer homes and half the price as up here.

$250,000 in this area gets you a garage in downtown pawtucket...Down in say Raleigh, NC it gets you a brand new home in a great area. WTF!?!?!

Any thoughts on the insane house prices around here? Anyone else care to share in the frusteration with me!?

[JohnR]

Originally Posted by Skip N

Anyone have any opinions of what the housing market might do within the next year? Its really getting frusterating house hunting and seeing all these inflated prices in Rhody in Mass. Its freakin impossible for a single guy with a single income to own a home in this region. I seriously need to consider moving down south, nicer homes and half the price as up here.

$250,000 in this area gets you a garage in downtown pawtucket...Down in say Raleigh, NC it gets you a brand new home in a great area. WTF!?!?!

Any thoughts on the insane house prices around here? Anyone else care to share in the frusteration with me!?

250-300K in Warwick RI will get you a decent 3 bedroom home close to the water and you are all set with our Republican Mayor ... Better yet, I hear you can get waterfront in NC for 250

[Swimmer]

Sales might slow down because of the interest rates, but the prices aren't going to come down. God isn't making anymore land.

[Skip N]

Originally Posted by JohnR

250-300K in Warwick RI will get you a decent 3 bedroom home close to the water and you are all set with our Republican Mayor ... Better yet, I hear you can get waterfront in NC for 250

The $270-$300 range seems to be the benchmark around this area. Anything less your really pushing it quality wise. Some real crap i've seen even in the $250 range.

Do a search on Realtor.com or some of the other sites. Its depressing to see what $250,00 gets you here compared to almost anywere else in the country, especially the south. Mostly crap up here in that price range

Is the demand really that high here that folks would pay $250,00 for a %$%$%$%$ty looking ranch with no land?

[Clammer]

its really slowed ///

price is higher because they can get it ;; we have higher pay , taxes , etc // a oversupply of inventory & the slight increase in inventory has made it a buyers market ... Depending on your wants ,wishes & desires ===realty ===$250000 will get a descent house .. a little higher 270000=290000 will put you in a very nice home ... I just put in contract one of the nicest capes around // 5stars $276000;;

Some of the quality that goes into some of those houses south =leaves more than a little to be desired ;;;

what cost 250000 in central RI will push at least 400000 // Boston ,,north ..

[JohnR]

Originally Posted by Skip N

Is the demand really that high here that folks would pay $250,00 for a %$%$%$%$ty looking ranch with no land?

Actually - I paid $130K for my %$%$%$%$ty looking ranch with no land - You are a day late and 140,000 dollars short for %$%$%$%$ty looking ranches with no land I suppose

[Jenn]

you can buy a fixer upper in these parts for 150,000........IF youre lucky thats is.......

[Mike P]

Originally Posted by Skip N

Its depressing to see what $250,00 gets you here compared to almost anywere else in the country, especially the south. Mostly crap up here in that price range

Go see what 250K gets you on Long Island.

It might get you a buildable lot, or a shack close to the high water line in Mastic Beach. Nothing else.

Median price is about $450 K for a 3 br Cape.

[fishsmith]

The house across from us has been on the market for some time and has dropped 50K from $419 to $370, and that seems great for the buyer, but with the rates steadily going up, the monthly payment doesn't get any smaller.

[spence]

I heard the average house cost in Little Compton is about 640K

If you are looking to buy, this is a good time to float the low-ball offers. While sales have slowed the asking prices are still up there if it's a nice location.

-spence

[CAL]

The guy that I replaced at work sold his 30 year old %$%$%$%$ty ranch in Raynham for $300,000 and moved to Houston, bought a 5 year old 4 br/3 bath with 3 car garage on the first fairway of the country club for $205,000. But the pay down there is a lot lower than up here.

I feel your frustration. Had to sell my house during the divorce 8 years ago, right before the prices skyrocketed. I doubt I'll ever be able to afford a house again unless I get remarried.....and that's not gonna happen anytime soon

[Squid kids Dad]

Cal..Something here..Got divorced 8 years ago but I got the house..Had to refinace but consider myself lucky..Just have some equity I cant do anything with..But at least I have my own house..I feel your pain tho...Otherwise I could never offord buying now with just one income

[179]

Depends where you buy in NC. Inland you can get 3 bedroom (new) ranch homes for $150k. On the coast or Outer Banks area you can expect to pay around 400k close to the water and 600k+ on the sound waterfront. There are some smaller towns with lower prices and tourist towns with larger prices.. There are still deals to be found here you just have to shop around.

[Slammer223]

I've heard that N.C. is nice too.Polite people,much less road rage etc.Maybe a bunch of us will migrate ther eventually.Hey Floyd--Hey Andy--Nice Day isn't it?--Yes,Oh Yes,Real nice,real nice.

[BigFish]

Hey Ang.....seen my bullet around here?

[Skip N]

Originally Posted by Slammer223

I've heard that N.C. is nice too.Polite people,much less road rage etc.Maybe a bunch of us will migrate ther eventually.Hey Floyd--Hey Andy--Nice Day isn't it?--Yes,Oh Yes,Real nice,real nice.

They're good folks down there. My buddy lived in Raleigh for a couple years so i spent a little time in that area. Raleigh's great and the housing is super cheap. 5 year old good sized homes in nice areas for under $200,000. Up here those homes in those kinda areas would easly hit the $400,000 mark.

[179]

Well being from RI and now living in NC I can tell you that in general most people here are very friendly and trusting. The town and county I live in have fantastic programs for children, which is one of the reasons I decided to make the move.

[gf2020]

I don't think prices in the under-$400K range will drop that much. In the Boston suburbs, however, the over $500K houses are declining.

I finally have a buyer for my house in Newbury, MA. It went on the market at $689K in June 2005. Similar homes in my neighborhood had gone under agreement in the weeks prior for $685K and $695K.

I dropped to $675K by Fall and took it off the market in November. It went back on the market in February at $669K, dropped it to $659K after 30 days and then to $649K after another 30 days. Finally under agreement at $635K.

I know for certain that I could have sold my house for $685K earlier in 2005, one of the recent buyers in my neighborhood told me they would have taken my home over the one that they did purchase. I just did not have it up for sale in time. Hindsight is 20-20.

So there you go, a $50,000 drop in less than 12 months.

[partsjay]

Is the demand really that high here that folks would pay $250,00 for a %$%$%$%$ty looking ranch with no land?

Thats what I had to do.....either that or move my kids away from their family...living in apartments gets old.

[Backbeach Jake]

My heart goes out to kids who are working hard and trying to start a life these days. Housing is freakin insane. Decent cars are house prices( when I was their age). Taxes only go up because our politicians view the public as a bottomless money pit. Gas has gone nuts, so's the utilities. My father's generation was a single income family, Mom stayed home to watch the Comanches( a full contact job in itself) And they did very well for themselves. Try that now.