Sunday, July 25, 2010

First they come for your neighbor....

Are things starting to catch up with my neighborhood?

Williamson Park has always just had one or two houses for sale at a time. Now we've got 4 houses for sale, and I know that a couple of the houses that were for sale previously, are being rented.

Thing is, our neighborhood is really well maintained, with only a few weeds here and there, and no dead lawns, leaning fences, or overturned flowerbeds. looks like it's catching up what I've always thought was a very stable neighborhood.

So, looking at the "For Sale" prices, I'd have to estimate our house is worth, maybe, 10% higher still than we paid for it (not counting improvements, which I doubt would count for much in asking price). We bought at 1983 prices (prices started jumping just a couple of months after we closed), but I wouldn't be surprised to see prices drop to or slightly below what we paid.(CORRECTION!: Holy Cow, where did that come from? I meant we bought our house at 2003 prices. Sheesh.)

We've paid down about 35k so far, so even then we probably have a small amount of equity.

Doesn't matter. We're staying, and we're rapidly paying off the house, so it's all pretty moot.

1 comment:

H. Bruce Miller said...

I'm sure your house is still worth a LOT more than you paid in 1983. It's probably worth about what it was worth in 1993.