Why Homes becomes so pricey now?

Exactly right ! Thats why I want to go to
non-popular non-demand area and enjoy
lots of land with these sleds haha

diehardbiker65 said:
I agree with you, I don't see how Bush have anything to do with this. Property values have always been driven by marketing itself. The market itself always follow the golden rule for years and years, and it is called Supply and Demand! So simple put if there is greater demand there, the price always shot up!
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Hot home markets to cool down...how will your home fare?
Price forecasts for 379 metro areas for 2006.
By Les Christie, CNNMoney.com staff writer
May 1, 2006: 5:45 PM EDT

NEW YORK (CNNMoney.com) - If you've recently gambled that Las Vegas housing prices would continue to rise this year, you may be on the losing side of the bet.

According to the latest housing price forecasts from Fiserv Lending Solutions, a provider of mortgage and consumer lending services, Las Vegas real estate will tumble a whopping 8.2 percent in 2006, the largest predicted fall among the 379 metro areas studied.

Fiserv forecasts a significant stagnation in housing prices for the United States in 2006 -- median home prices overall will inch up only 1.5 percent this year. And many metro areas will experience drops, including some of the largest, and most expensive, ones such as New York (down 2.43 percent), Los Angeles (down 3 percent) and Washington (down 1.9 percent).

Phoenix, one of the fastest-growing areas the past couple of years, is another town too hot not to cool down. Fiserv predicts an increase of just 3.3 percent.

Some of the metro areas that have lagged over the past few years, however, may play a bit of catch-up. Fiserv forecasts Houston, where the median home price stands at a modest $145,000, to grow by 6.1 percent. San Antonio (median price is $138,000) should do even better, rising 8.3 percent. Memphis, where prices average $129,000, should see a rise of 7.8 percent.

Some of the recently cooler markets in the Northeast are also expected to be among the winners this year. Rochester, New York, where median homes average only $120,000, should see prices rise 8 percent. Neighboring Syracuse will rise 7.8 percent and Scranton, Pennsylvania will increase 7.6 percent.

The table below gives forecasts for 379 metro areas, ranked by median home price. Click on column headings to re-sort. And click on state names for more stats on key towns.

There's list for 379 metro areas, for 2006.
http://money.cnn.com/2006/02/03/real_estate/house_price_predictions_for_2006/index.htm
 
Y said:
Sorry, Volcomskatz Thank u for
showing these houses in LA
I have to cut you off
because I think these houses
you just showed are so UGLY houses
nothing like Northern Virginia.

Eeeeww !!!!!!!!!!!

I bet these bugs, waterbugs, cockroaches
would be very attracted toward these
California houses hahaha
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Ya know that between west and east coast are different, also same with LA area and DC area (including NoVa) are much different too, except for Florida that where their houses are built with stucco and some are modern house, such as in Miami area.

I love this house and interior is so beautiful and modern, it's located in Hollywood and there's everything to do, alot of shopping and different places.
 
FelixKat930 said:
Thanks to Bush! He rank it all up and all he cares about is war that's it! He only cares about the rich but not the poor and middle classes who works our asses off! Doesn't he gonna realize that not all of us can afford a $500,000 house. We are having a hard time looking for the right home and that some of them have ranked up!
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What kind of house were you looking at for $500,000? How much square footage, how many bedrooms/baths? That seems awfully high for a starter home.
 
Yup the most popular places for house is right in waterfront!!! I would love to own house in front of lake or something like that, but again the price has always been highest of all... Simple because "Everybody" wants to own house right in front of the waterfront! Thus not enough waterfront properties that would meet demands so the price goes up, PERIOD. I can't win.
If you want cheap, non-popular place? Why not go out in the plain where you can buy 50 acres for 50,000 dollars? That is somewhere in midwest!

Y said:
Exactly right ! Thats why I want to go to
non-popular non-demand area and enjoy
lots of land with these sleds haha
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Im not so sure about ocean front property - hurricanes is the biggest reason why Ive never wanted to live on the coast, maybe visit, but not live there. (Ive never even seen the ocean so what do I know?!?!)

Also here in AR in this area you can get a modest 3 bedroom house with about an acre of land for around 150,000 or less. I hope to someday have a house on the hill over looking the pond on my parents property. Its perfect, especially considering I like waterfowl. :)
 
Then you would NOT have any problem
finding a home in SC for that price range.

FelixKat930 said:
I am looking for a home under 200,000
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Would this be possible that the number of
demands for waterfront homes decrease
in the future because too many people are afraid
of these hurricanes ?

diehardbiker65 said:
Yup the most popular places for house is right in waterfront!!! I would love to own house in front of lake or something like that, but again the price has always been highest of all... Simple because "Everybody" wants to own house right in front of the waterfront! Thus not enough waterfront properties that would meet demands so the price goes up, PERIOD. I can't win.
If you want cheap, non-popular place? Why not go out in the plain where you can buy 50 acres for 50,000 dollars? That is somewhere in midwest!
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TFWFalcon said:
Volcomskatz....did you notice prices is different where you first post picture at top (1,350,000...3 beds...2.5 baths) look house is small. To compare last picture (1,369,000....5 beds...4.5 baths with 4750 SQ. Big house. prices is going nuts today.
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Yea, it's expensive if you want live in near LA, such as alot of premier shopping, everything to doing and more place to visit, also alot of entertainment too. I live about 12 miles away from Hollywood but it's in San Fernando Valley, or called valley area and its across from mountain to Hollywood. Real estate in Inland Empire, that where one big house with 5 bed, 4.5 bath, located in Rancho Cucamonga but it's cheaper than LA area and still expensive though, only around 1 hours to LA.

Well, real estate in LA area would start decline or boom so slower since we have real estate crisis for around several years, also it means same with shortage of houses due lacking of builders but now more people are become builders and start trying to recover the real estate. Real estate is still boom in Inland Empire.

http://money.cnn.com/2006/02/03/real_estate/house_price_predictions_for_2006/index.htm
 
Yeah, true! But right now we decided to stay in IN for a few more years. We can buy a vacation home in SC though!

Y said:
Then you would NOT have any problem
finding a home in SC for that price range.
Click to expand...
 
diehardbiker65 said:
...
If you want cheap, non-popular place? Why not go out in the plain where you can buy 50 acres for 50,000 dollars? That is somewhere in midwest!
Click to expand...

Agree!!! The Midwest isn't a bad place to live. I especially love the views of forever...
 
FelixKat930 said:
I am looking for a home under 200,000
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Most likely it will be rent to own homes for at least $200,00 but there is a bunch out here in the south
 
sr171soars said:
Agree!!! The Midwest isn't a bad place to live. I especially love the views of forever...
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Yea, I love Chicago...
 
FelixKat930 said:
I am looking for a home under 200,000
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For under $200,000 here you can get a 2,000 sq.ft. house, attached 2-car garage, 4 bedrooms, 2 1/2 bathrooms, fireplace, deck, hard-wood and ceramic tile floors, and a community swimming pool.
 
LuciaDisturbed said:
Yeah, I like the city but it's so fucking expensive to live there...I grew up north of Chicago, in Milwaukee.
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Yea, it seems reasonable when people don't want buy to own houses but much better than LA, NYC and Miami.
 
TFWFalcon said:
House raise prices cause woods supply is short due kitina that place need more woods for rebuild. This year house sales is drastic dropping. Mortgage rate is high. I expect next year should be sight better.
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Cite your sources, TFWFalcon. I'm a real estate agent and none of what you said is true. If 6.5 percent interest on a 30-year mortgage is high to you, the last time it was this high was back 50-60 years ago, still dirt cheap.

Since we're talking mortgages here, take a look at this link. http://www.startribune.com/206/story/217995.html
 
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