The Seventh McNugget

We all can't be one of the Six.

09 August 2005

Wow.

Knowing the trends in today's housing market, I've kinda been curious as to how the value of my home has changed since I bought it almost 2 years ago. I figured that it wouldn't be a very big change, but assumed it would be worth a little more than when we bought it. First of all, it was vacant and empty when we bought it, and we have it set up as a livable house... so that's right away more value. Plus, we've painted and fixed some things up in it... including our current bathroom renovation project. Up next is a big deck with a flush-mounted hot tub! Woohoo!!!

Anyway, we paid a mere $109,900 for our house, which was a very good price for what we got. Our house is the end-unit on our row, so we have more windows and a considerably bigger yard than the other houses in our row.

In talking to my neighbor the other day, I learned that one of the middle houses had just sold. Most of the houses in my row are not that nice... people just don't keep things nice. My neighbor said that this particular house wasn't very nice...

...but it sold for $186,000.

Holy balls. That would put mine... once I get these renovations all done... close to $200,000 or more!!!!!! That's insane!!!! I'm up almost $90,000 !!! NICE!!!

Of course, if I were to sell and buy another place, I'd be buying into the same inflated market, but it's still cool to think about it. 185% return on my investment? I can live with that!

6 Comments:

At 10:23 AM, Blogger Larakin said...

Tell me about it!! I am just now negotiating to buy a house in Durango. the average house here is going up 65K a year and is now around 340K!!! condos in town went up 40% last year.

I wish I could buy a house for 109K that would get me a nice high pile of dirt here, the house I am getting a a little 1170 Sq ft 1 level house and it is only a mere 319K! and it is the cheapest 3 BR house in Durango BY far!

 
At 10:29 AM, Blogger The K Man said...

Wow. That's crazy. I simply could not afford to live there. It's hard enough right now with my fairly cheap house. I dunno how you do it... unless your CEO of some major corporation!!!

 
At 10:50 AM, Blogger Larakin said...

Nope.. I wish! Im a sofware engineer so I do OK, this house will stretch me to the limit though!

 
At 2:13 PM, Blogger Stan said...

Dang Justin, that's nuts! I thought houses around here were crazy, but man! Kamin, you could probably sell yours and move in two doors down from me and keep the same mortgage, how do you like them apples?

 
At 2:49 PM, Blogger The K Man said...

Nah dude, yours are probably jumping up at the same rate. Find one for sale and see what they're asking...

 
At 3:14 PM, Blogger Stan said...

ok, remind me to do that.

 

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