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April 20, 2006
$1.3M
Okay, so Keith and I have been talking about home ownership. It's just conversation time, as we need to settle out his financial picture from having lost his house back in Michigan (unless I can, on my own, qualify). Either way, we're just talking. (Same as we're doing about kids. Just talking.)
Anyway, we've begun to look at what homes in our desired area are going for. And, sure enough, we've noticed condos around us suddenly becoming available. Now, we of course want to buy A HOUSE, but... heck... might as well have a conversation about how much condos cost around here, since neighbors are moving and what the hell do they care if we know how much they're getting for their place, when they're moving to another continent?
Neighbor Steve who drives a Miata too is selling his condo (which is the same top-floor 2BR, beach-facing unit as ours, just 100 ft. away and WAY customized) for... one point three million dollars. WHAT?!? Yes. He bought this condo 20 years ago for $165K, put about $200K worth of improvements into it in the past two or three years and now... wow. Just WOW.
We sooooo need to get into real estate.
Just sayin'.
Posted by bonnie at April 20, 2006 1:17 AM
Comments
OMIGOD -- Jack and I are SO way behind! Gotta learn the art of FLIPPING! :-)
Posted by: DebC at April 20, 2006 2:28 AM
Be very careful in the condo market. As housing sales cool off, condos are the first to take big hits.
Posted by: Tony Mc at April 20, 2006 11:49 AM
Regardless of the city, real estate is nuts. The resale value lately has hit the roof. Happy hunting. Just make sure you get an inspection ;)
Posted by: kittin sticks 
at April 20, 2006 4:04 PM
Thanks, everyone. We're seriously JUST TALKING. Not doing anything anytime soon. ;) This will be something we spend a LOT of time on, when we're closer to doing it for real.
And truly, we'd soooooo rather have a house than a condo. It's worth sucking it up and waiting a few years here in our apartment if it means we can get a house then, rather than a condo sooner.
Posted by: Bon at April 21, 2006 1:46 PM