$139k to $360k in 10 years for this house.
 

My folks just sold their house. they bought it 10 years ago for 139k and just sold it for $360. I was like wow it has gone up huge. Compounded yearly that works out to just less then 10% a year. It looks like it would be a higher percent. The power of compounding in action.

same thing here, down in Florida the market is extremely hot.

You're right, 3 years ago a condo I wanted was 99k now it's 159k
that's insane,
my dad's house has doubled in 6 years.

Now it's going to crash. It's too high and they're inflating the market. It can't support itself so sell now if you want to see a gain because in less than a year it'll be significantly lower.

not sure where you are...but here in California they seem to go up faster than that.

bought my house in '01 for 203K. just did my 2nd refinance and had to get it appraised. to my surprise, it came up as 740K. total shock.

damn, where is that at?

Bought my condo in 01 for 70k.... place next to me just sold for 190k last week ... central coast of Cali is fucking insane.. I could sell but I would have to move out of state to be able to afford anything.

damn! that's impressive!

the kid across the street from me bought his for 400, tried selling it for 900k! and ended up settling on 800... only 3 or 4 years later

Good, I'd love to see some Florida prices go down so I can get a condo there :)
WG

YEah id hate to be in the market searching to buy a home right now.. Its just crazy.

We had our home built for $450,000 and a Its now worth over 600k in just 2 years here in Oregon.

Unreal.. The same house as ours 2 blocks up which is on a smaller lot, and not as nice a street (we are on a premium lot) sold for 610 k.. I think they paid like 390k for it 2 years ago.

Crazy.

I wonder if this bubble really will burst?

Whenever I say that its gunna slow down or say the bubble will burst it seems it still just keeps climbing and climbing.

It has to at some point I would think.. its getting crazy

I believe it. My home went up 70k the past 11 months.

My Gramma bought her home for 6K, that's right 6K. Today it is worth about 700K-1Million.

I don't think it's gonna burst........the population grows every day, gotta put'em all somewhere

i know kinda scary about what house are going to cost in the future

Seattle is absolutely insane...I think the bubble will burst soon.

Bought this house for 350k with some friends 5 years ago...2 of them are in construction and 1 is an electrician...We spent about 4 months fixing it up (it was pretty shitty but has a view over lake washington. looks directly at Bill Gates' house) .....Anyways, just had 2 appraisals done because we're looking to all buy our own places now (we've had a our own frat essentially for too long and our GF's/wives wanna kill us) ...2 appraisals...

One appraisal for 1.4 Mil and one for 2.1 Mil . So i imagine its somewhere in between. We pay property tax at 1.2 Mil but they havent seen what we did to the inside ...just the outside.

Couldn't agree more ;)

In Central Florida, I just had a house triple in 4-1/2 years.... Amazing!

I owned 2 townhomes in FL. Bought the 1st one for $138,000 and sold it 2 years later for $189,000. Took that money and bought another townhome for $172,000 and sold it in a year for $209,000. The FL real estate market is still the hottest in the country. Even though I live in CA now I am seriously thinking about buying a few properties in the WPB area and renting them out. My best friend is a RE broker and would take care of managing them so I wouldn't have to worry too much about being an absentee landlord.

What I thought was amazing is 10% a year for ten years is not that hot of a market. Considering we had very little movement for many years in the 80's.

Higher interest rates is the only thing that will cause a "burst". Normally residential is very stable, and most areas do not see major declines in bad economic times.

My parents bought their house in '89 for $129k and a house on their street with the same floorpan just sold for $452k

The house where I grew up we paid $77,000.00 for in 1979.

Just sold 8 months ago for $2,800,000.00

Newport Beach!

Bought another house in the upper Newport Beach area for $459,000.00 5 years ago and just had it appraised at $1,100,000.00.

Yeah if you want to make a killing sell your house now. The market has to come back to realistic numbers sometime.

The housins market is the same here, $180k house is now worth $350k, Calgary is not slowing down one bit though, and will not slow down for more than a decade, our population is set to double within 10 years, to give you a glimpse of how fast we are growing we have a second airport going up in the southern side of the city.

the rate our house is going up in value is about $12,500 a year...steady for the last 3 years....i can't wait to sell it in 6-10 years

I would be all over that, you got someone to manage them for you so not much for you to do, atleast not like weekly etc. I would be all over that quick.

heh house prices don't move for shit here in Western Nebraska, all we got are fucking sandhills and cows. Not a whole lot of movement or new places being built.

Can't afford a house, but rent a studio.

London prices are supposed to be falling, but this detached house, in which I have a studio in, is worth $4 million. it's probably not even that big compared to the average American home.

Maybe I should move!

Yea, but probably they were paid like $200.00 a month back then, so $6 000.00 wasn't such a small amount of money.

awesome deal my friend...!

I paid $159,900 for my house 4 years ago, had it appraised 9 months ago for $390k. Gotta love this market. My friend bought a condo in NYC 5 years ago for $160k in a shiity area of Manhattan, now the area she lives in is the hottest area in nyc, known as NoHo. Her place appraised for $1mil a few weeks ago.

secret is to buy the lowest house on the block and spend a little to bring it up to the standards of the other houses easy money.

I got my house here in dallas for a good deal. I expect to double the value with the remodeling I'm doing and clearing out creek that is behind it. It will look great with I'm done with it.

california real estate has jumped like 200 percent in the last 10 years

Good for them! I hope they buy something with a lot of land with the money.

bought a starter at $600k.... sold at $1.1 mil a year & a half later.
One I'm in now will do even better. Looking for $2.6 in a year and a half. But more realistically, probably will be 2 years.

Ive been in the Seattle market for awhile, finally just got a house in Seward Park 1 block from the lake. I know where your place is now, your accross from volunteer park, near 15th? Those houses are pimp for sure.

I would sell now if I was you, youll get enough to buy your own place for sure.

that ain't shit... try Key West, FL - paid $1.3 million for this house... 8 months later, $2.5 and rising :)

Arizona, Florida and Nevada are the hot 3 markets right now.
some of these states will see some slow downs, but
the retired baby boomers, will be double within the next 10 years, so you will see Florida, and Arizona and other retirement communities going up for a long time.


Cali is out of wack, just like before it will probably burst a bit.


While much of the nation's homes are 3 times the price of their annual income, california will buy homes 6 times their annual income, so Californias are simlpy just refiing over and over, living on their equity that = disaster

Most of the experts know the hot markets 3-5 years ahead of time.

39% investors for Arizona and 38% in Nevada geez

I sold my house in the Berkeley Hills in 1994 for $305,000. It resold in 1999 for $900,000! Too bad I didn't have the money to restore it.

that's sweet :thumbsup

that's even better than out here.... and Maui is tough to beat.

I've heard stories like this many times. I've witnessed it a few times too.

If it was bought ten years ago, the present price should have been higher...

Arizona baby... its all about AZ :thumbsup