Average House Price for 2007

[SilvrT]

Just looked at the latest statistics for the Canadian housing market showing average house prices across Canada in order of highest to lowest. Good thing I was sitting down. Vancouver (where I live) is currently the highest at $560,000. That's up from 2004 at $373,000 and they expect it to hit $600,000 in 2008. Western Canada in general is the highest with the East Coast areas being the lowest at around $125,000. These are prices for major Canadian cities.

 

How does that stack up against you folks south of the border.... what are your prices like and have they been increasing over the past 3 or 4 years or declining?

[Cinderella]

wow.........back in Ohio where we moved here from, the market is terrible.

We still own a house back there that we have been unable to sell. ( yep two mortgages going on)

Let me put it this way......we had the house appraised before we moved when we had it on the market(july 2005).......and we just had it appraised again a few weeks ago......the appraisal value has dropped almost 40 grand since July 05 !!!

I was in shock.......no wonder noone wants to buy a house that the balance due on the mortgage is 28 grand more than it appraises for. Makes me sick.

 

But............yep always a but..........

 

we were about to lose the Ohio house, in fact ready to do the dreaded deed in lieu.....at the last minute the people renting it stepped in and decided they wanted to try to buy it..so we are still waiting word on whether our mortgage co. will accept the short sale. Should know by the end of this week. They would be fools not to accept it as they offered only 8 grand less than we owe, which is way above the appraised value.......my concern is will their lender approve a loan in which the house value is that much lower than the mortgage amount??????????????????????????\

 

Im keeping my fingers crossed.......as this will certainly lessen our burden and financial situation. We have been pretty stressed over the situation.

[Redneck]

wow.........back in Ohio where we moved here from, the market is terrible.

We still own a house back there that we have been unable to sell. ( yep two mortgages going on)

Let me put it this way......we had the house appraised before we moved when we had it on the market(july 2005).......and we just had it appraised again a few weeks ago......the appraisal value has dropped almost 40 grand since July 05 !!!

I was in shock.......no wonder noone wants to buy a house that the balance due on the mortgage is 28 grand more than it appraises for. Makes me sick.

 

But............yep always a but..........

 

we were about to lose the Ohio house, in fact ready to do the dreaded deed in lieu.....at the last minute the people renting it stepped in and decided they wanted to try to buy it..so we are still waiting word on whether our mortgage co. will accept the short sale. Should know by the end of this week. They would be fools not to accept it as they offered only 8 grand less than we owe, which is way above the appraised value.......my concern is will their lender approve a loan in which the house value is that much lower than the mortgage amount??????????????????????????\

 

Im keeping my fingers crossed.......as this will certainly lessen our burden and financial situation. We have been pretty stressed over the situation.

Good luck I hope it works out for you.

[FROG MAN]

A good house down here goes for $35,000. Not bad tires on her either for that price.:rotf::rotf:

[SledgeHammer]

This link will answer your questions. I will have to say it is a buyer's market in NC right now. We just bought a house in August. We also just put a house on the market last month. Everything we saved on buying another house, we will loose on selling the other home. Not to mention the aggravation of expecting the house to be on the market for a long time or taking an even larger loss on it.

 

http://www.housingtracker.net/

 

http://money.cnn.com/pf/features/lists/hpci_data/index.html

[SilvrT]

This link will answer your questions. I will have to say it is a buyer's market in NC right now. We just bought a house in August. We also just put a house on the market last month. Everything we saved on buying another house, we will loose on selling the other home. Not to mention the aggravation of expecting the house to be on the market for a long time or taking an even larger loss on it.

 

http://www.housingtracker.net/

 

http://money.cnn.com/pf/features/lists/hpci_data/index.html

 

I certainly appears that the West Coast is NOT the place to buy a house if you're an "average" wage earner...unless of course you just won the lottery! I recently heard that some billionair just bought a penthouse here in Vancouver for a cool 18 million! gee...it even has it's own outdoor deck/garden! LOL

[Stoutman]

Homeowners in Texas find themselves in an enviable position. For the most part Texas real estate prices are very stable. In relation to the national market housing in Texas is undervalued by 10 - 20%. Compare that to Bakersfield, California which is reported by USA today to be overvalued by 68%.

 

I've been on the other side of that equation when I sold my home in Utah. I had to hold onto it for over a year after I left and sold it right before they had housing boom. I still ended up with a gain, but only if I didn't take into account inflation.

 

I just hope that this national market doesn't over correct and end up hurting a lot of people.

[E-Fishin-C]

Average housing price up here $249,900 I only wish my home was worth that much:rotfl:

[SilvrT]

 

I just hope that this national market doesn't over correct and end up hurting a lot of people.

 

There's some talk that we will have another market crash and it's gonna cause a lot of problems for a lot of people. I doubt this will happen anytime soon though, not as long as the job market is strong and the immigration rate continues. A lot of the housing around here is getting snapped up by people coming from other countries.

[VTirelli]

bought my house in 94 for 150,000......remortgaged last year, appraisal was for 500,000..not a bad investment, BUT...yes ....a BUT.the market is for poop here so good luck selling it. Lotsa houses for sale..not many buyers......

I'm sure it will improve by the time I'm going to sell....but we'll wait and see.

[GeorgeS]

Its the Weather out here, or lack of it ( Snow that is, and cold )

 

I also see that lots of rich folks from foriegn countries are moveing here and paying cash. ( bye " here " I mean the Pacific Coast )

 

Anyway, folks who got money, and don't need a job, and want good weather ( most of the time ) are buying up the West Coast. All up and down Wa. and Oregon, its the same thing. Also, lots of retired folks from back East, heading to the left coast. (( Note: Real Estate Tax, in Ore is about double what it is in Wa.)

 

They are still building in the Seattle Suberbs, it has slowed down considerably, but the new house's are still selling. About $450 ,000 now in Renton, for the average 4 bd, 2 ba. home. But they only have 12 feet between them now, and 2 car garage, with a 2 story layout, about 2000 to 2400 Sq. feet. If you go out to about 35 miles East or SE of Seattle, you can get in for about 370K. But sales, very very slow.

 

Sales are very slow, but they are selling.

 

The Old homes close into Seattle downtown area, ( say about 7 miles ) are going for 6 to 900K, and they are junkers built back in the 30's and 40's. I would not want one of them for 50K, or any price that is.

 

I bought in here in 84, and I'm just going to sit on it. For 4 or 5 years at least.

 

However, if you wanted to live in some small podunk hollow town in Rural Wa. State, price would be about half what it is in the Seattle Area, or Portland.

[cmiles3]

Here in the suburbs of Tulsa, houses are going for $125,000 to $250,000. Of course, you can pay as much as you want, or as little, if you want an older fixer-upper. Bought my house in the middle of a prairie in 1979 for $72,000; neighborhood grew up around me, with crackerboxes selling for $130,000 in the 80's. New additions across the street are selling for $250,000 and up. Housing construction has slowed, but I live in the fastest growing county in the state, so it hasn't slowed much. At the moment, financing is tougher and more expensive, so some people aren't buying right now. Haven't heard anyone having problems selling, though.

[CrazyHorse]

Housing prices in many areas are absurdly high except maybe the rural areas. The market really does need to adjust downward. In Chicago area new housing has finally slowed down they were starting to reach the outskirts of my town. (Thank God) They built way to many houses for people that really never should have had loans to begin with. I dont know where all these people are coming from either. My neighbor who is in banking and specifically real estate transactions told me a few big banks are teetering on failure because so many people are defaulting on thier loans.

[RustyRecycledToy]

There is a very nice 4bd/2ba home bordering my place that belonged to a friend of mine before the current owner bought it. Current owner bought it, moved in for 6 months and moved out.

 

It has been for sale for 2.5 years now. The price isn't unreasonable, just so many other new homes sitting for sale. Not everyone wants a 7yr house. They are having an open house on Sunday and i am thinking I may actually make an offer on the house. I'm hoping that after 2.5 years sitting vacant he is ready to get rid of it.

I know what he paid for it,what he has done to it, and how long it's been empty. Maybe I can bargain with him.

[Guest hank]

The long emergency has started. Suburbia will get hit hard. Those ARM's are gonna get reset again. Oil will hit $100 bbl SOON! The dollar will continue to drop in value. Expect gas prices to skyrocket by next spring. Most likey we will see at least a $.50 per gal increase by Turkey day. Food and most products will cost more, way more due to OIL prices. This is just a start and it's gonna get depression era bad. Bad like we have never seen. Worse than the great depression. Hold on tight!

 

When the gas shortages hit - then the masses will start to understand.

 

[BradT]

Silver Thought Calgary was the hot Market in the west. Here around Toronto prices are all over the place.

 

Cindy and Dale All the best to you two, hope the sale goes through for you.

 

Brad

[BradT]

Average housing price up here $249,900 I only wish my home was worth that much:rotfl:

 

Good thing INCO never closed the mines near you. Maybe it was a rumour but that would hurt the market conditions up there.

 

BRad

[Redneck]

The long emergency has started. Suburbia will get hit hard. Those ARM's are gonna get reset again. Oil will hit $100 bbl SOON! The dollar will continue to drop in value. Expect gas prices to skyrocket by next spring. Most likey we will see at least a $.50 per gal increase by Turkey day. Food and most products will cost more, way more due to OIL prices. This is just a start and it's gonna get depression era bad. Bad like we have never seen. Worse than the great depression. Hold on tight!

 

When the gas shortages hit - then the masses will start to understand.

 

Not again!

[MikeM8560]

Just looked at the latest statistics for the Canadian housing market showing average house prices across Canada in order of highest to lowest. Good thing I was sitting down. Vancouver (where I live) is currently the highest at $560,000. That's up from 2004 at $373,000 and they expect it to hit $600,000 in 2008. Western Canada in general is the highest with the East Coast areas being the lowest at around $125,000. These are prices for major Canadian cities.

 

How does that stack up against you folks south of the border.... what are your prices like and have they been increasing over the past 3 or 4 years or declining?

prices skyrocketed here then droped again now for that money you can get one hel of a nice waterfront home dock pool ect.

see here

http://www.arismlsswf.com/HTMLWORK/20071029_27R1D3OT6.ASP

[hipshot]

The long emergency has started. Suburbia will get hit hard. Those ARM's are gonna get reset again. Oil will hit $100 bbl SOON! The dollar will continue to drop in value. Expect gas prices to skyrocket by next spring. Most likey we will see at least a $.50 per gal increase by Turkey day. Food and most products will cost more, way more due to OIL prices. This is just a start and it's gonna get depression era bad. Bad like we have never seen. Worse than the great depression. Hold on tight!

 

When the gas shortages hit - then the masses will start to understand.

 

 

RUN FOR YOUR LIVES!!!

THE SKY IS FALLING, THE SKY IS FALLING!!!!

 

 

some of us, don't really care about "costs", 'cause we can't afford anything , anyhow!

just jt

[SilvrT]

Silver Thought Calgary was the hot Market in the west. Here around Toronto prices are all over the place.

 

Cindy and Dale All the best to you two, hope the sale goes through for you.

 

Brad

Vancouver's on top with Calgary right behind.

[SilvrT]

That $125,000 must be the Maritimes.... in Toronto that $125k wouldn't buy you a garage.

 

And I have no idea why anyone would pay that much for a house out west... I always said they were all nuts out there... (hehehe)

Yep, and our government keeps letting them in (the nuts)...

 

Its the Weather out here, or lack of it ( Snow that is, and cold )

 

I also see that lots of rich folks from foriegn countries are moveing here and paying cash. ( bye " here " I mean the Pacific Coast )

 

Anyway, folks who got money, and don't need a job, and want good weather ( most of the time ) are buying up the West Coast.

 

GeorgeS is a bit more "diplomatic" (rich folks from foreign countries)

 

Most of them speak Mandarin, Cantonese, or some other such language.

[Sailor]

Here on Saltspring the prices are astronomical. Part of the reason is that it is an island so space is limited but the main reason is people from down south or back east buying properties and driving prices up. I know of some who have paid 1 to 5 million for a place simply to tear it down and build for 15 to 20 million. I built my place for $200,000.00 12 years ago and it is getting close to a million in value now. $ 250,000.00 will get you a one bedroom mobile home in the bush, if you can find one. People are getting hit hard by taxes. Mine have gone from $50.00/yr to $ 4000,00/yr and anyone on fixed or low income is moving off island. This leaves businesses with no employees. Many of these multi million dollar homes are only used for 2-3 weeks in the summer. Almost time to sell out and move to Vancouver Island.

[GeorgeS]

I have decided to Keep, my Old car (112,000 miles on it ) instead of buying new. Wifes car will be paid off in about 6 mo. ( 53K on that one )

 

Anyway, no car payments, after 6 months, that money can go for gas.

 

The old 93 T-Bird still running great, I just put on new rubber, and I am going to keep driveing it till something blows up on it.

[BuddyRich]

Not again!

:rotf: