any real estate agents in here

[wildhorses]

just wondering what property values will do within the next 5 years...

[trof]

1. possibly plateau

Former realtor and appraiser here.
Depends on the section of the country.
I would expect smaller gains on west coast and in northeast.
But just heard that 50% of the U.S. populace lives within 50-100 miles of the coastline and that is expected to go to 75% in the next 10 or so years.

[wildhorses]

2. so, if I received a VERY good offer today

I could reasonably expect it to be about the same offer in five years... in other words I should not expect it to appreciate any more than what it already has? This piece of property is on the east coast but about a 4 hour drive to the coast and a 1 hour drive to mountains...10 minutes from a major interchange of interstate highways but so private that you would think you were in BFE

[trof]

4. BFE...BumF*ck, Egypt?

Anyway...
That would be a good guess.
Especially if it's vacant property.
I'm guessing the Carolinas?

[wildhorses]

6. yes bumfuckegypt

1 hour in any direction will get you in a metropolis with all the advantages of culture..

[ScreamingMeemie]

8. Please don't be looking at the house MrG and I are...

;) You described the location almost exact. :hi:

[ScreamingMeemie]

3. I am a real estate appraiser. Right now, pretty much across the board

values are stable...or declining.

A scary thing to consider is this; last week I appraised a house that sold for 250,000 1 year ago. It's been completely updated and was a very nice home. Comparable sales ( I checked) in the area supported that value of 250,000. Part of my job is to find at three comps that support my opinion of value within the last year. (this house actually sold about 16 months ago). I could not find one comparable sale (one was next door, so I had to use it) for over $235,000. For the most part, with very few exceptions in pocket areas, the market is going to settle, and even decline in some areas that have been overdeveloped with too many new homes.

MrG and I, for that reason, are thinking of making our last move...onto property right now. Before we lose anymore equity in our current home.

[wildhorses]

5. part of my problem has been that I live on what appraisers

call "incomparable" property...it is really a nice spot of earth...I was made a good offer a couple of weeks ago and now I am wondering if I should reconsider...times like this I wish I had a partner that cared about making a decision based on a mutual good future...I have no one except a couple of girlfirends to bounce things off of..and I really am not ready to discuss this with them yet..




it amazes me that I just throw this stuff out in cyberspace for you guys to toss around




my private life...

[ScreamingMeemie]

7. Ahhh. I do it too. And, unless you live in a geodesic dome, everything

is comparable. Sometimes we, as appraisers have to think outside the box. Here's how I do it. I look at your house. I look at the houses surrounding it within a one mile radius. I then increase the radius to two...and then three, and you get the drift. Then a good appraiser compares those houses and makes an adjustment to the comparable to reflect differences in market reaction, omitting adjustments for those things which cannot be measured.

My gut feeling right now, working in the market every day, is that anyone who has the money and wants to move...should do it now. I'm not going to want to pay 16% in 7 years. :hi:

[wildhorses]

9. thanks...and NO you know I am not looking at that house

:hug: but thanks for giving me a smile



I just wish I knew if I wanted to move...I am thinking not...my immediate family are here and that is why I moved back here after 9/11



I was 6 hours away from them on THAT day...and I realized then just what FAMILY means to me...too bad the hubby did not share those sentiments and oh yeah there was all his other peripheral baggage that is not appropriate for this thread