Tuesday, April 27, 2010

Neighborhood Sales

The house at the end of our rowhouse strip (no idea what else to call this) had been vacant for years. The story is a few years ago a couple purchased it, gutted it, and ran out of money or whatever.  Now, it has been fully renovated (it's pretty lovely inside) and it got an addition of about 600 square feet, so it's about 30% bigger than our house now. But, here's the deal...it's selling for 45% more than what we paid for our house. While I think ours has a little ways to go to match this new renovation (our bathrooms need a make-over!), things are looking up for the value of homes in the neighborhood!

Anybody else gone through this shift?


Sara @ Russet Street Reno said...

In WI, we are seeing more price drops. There are houses that are just as awesome (if not more so) than ours going for 25k less than we paid. It's sad. Good thing I'm not moving anytime soon.

Benny said...


Yikes! Hang in there, it's bound to come back.


Freddie said...

My old octtage is looking good as the house next door (basically the same, different layout, both built in '32) got bought by flipper and and sold nearly twice as much. We payed almost the same the flipper payed for it but ours is bigger, will have a full second bathroom, has one more bedroom than that one, and has a garage. We think if things were complete and we sold today, we'll sell for at least twice as much than what we paid in August! When will we be done and when will we move, who knows but it feels good knowing that?

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