I believe that I started looking for houses in the $125,000 - $200,000 range because there are only two houses for sale for less.
Do you remember how 14 houses sold in the last 12 months for $125,000 or less?
42 houses sold in the higher price range.
For the 14 houses between $125,000 and $157,000, they varied between 584 and 2,250 square feet.
We will call those outliers and throw out them.
That leaves 12 between 930 and 1,658, but the second-largest is 1,378, and 3 are 1,250, so I will throw out another.
Two houses were around $160 per square foot while the rest were $97.97 - $143.06, so I will throw out those, too.
That leaves 8 houses that sold for $147,687.50 with 1,194 square feet, for $124.58 per square foot.
For the 14 houses between $157,000 and $179,000, they varied between 1,056 and 1,653 square feet for $132.03 per square foot. These seem more homogeneous, but five did not have garages.
For the 14 houses between $179,000 and $200,000, one house was 4,445 square feet with a 2,000 square-foot unfinished basement--$43.19 per square foot, the lowest that I have seen, and it seemed to be in good condition. It also had a second two-car garage. The rest vary between 1,032 2,424 square feet. The largest was the most expensive, almost 12% larger, for less than 1% more than the next-most-expensive. It was also the cheapest per square feet. Not by a large margin, but 12% larger, and 8% less per square foot?
Out.
I do not have any idea why the 1,032-square-foot house sold for $182,000. Out!
Now we have 11 houses between $179,900 and $197,500, 1,284 and 2,172 square feet, and $88.86 and $153.82 per square foot, but two are around $150 per square foot, and the average is $112.
Out, along with one that is $138.46 per square foot.
Now we have 8 houses between $179,900 and $195,000, 1,631 and 2,172 square feet, $88.86 and $112.85 per square foot, averaging $189,300, 1,925 square feet, and $99.44 per square foot.
$1 - $125,000: $83.16 per square foot.
$125,000 - $157,000: $124.58 per square foot.
$157,000 - $179,000: $132.03 per square foot.
$179,000 - $200,000: $112.85 per square foot.
Why is there such a huge jump above and below $125,000?
Why is the price-per-square-foot so much lower once you pass $179,000?
Would I rather have two 1,203-square-foot houses or one with 1,772 square feet?
I did not look too closely at today's houses, but none needed any obvious repairs, while some cheap houses definitely did, but the most expensive were $103 per square foot.
The easiest thing to tell right off is which house is under $100 a square foot--just one, although I swear there was another.
Three bedrooms, two baths, and 1,820 square feet for $174,900. $96 per square foot on .31 acres. No paved driveway, lawn, or garage. It is on the corner without curbs or sidewalks, so they just drive through. It is weird, the rooms look cramped, but each should be around 50% larger than Mom's.
There are sixteen other houses for sale under $200,000, the blue house with the bad foundation.
The weird two-story 912-square-foot A-frame has a $2 HOA and they want $130 per square foot.
The house with the second-lowest price per square foot has been on the market for over four years.
The third one is 3 bedrooms, 2 baths, and 1,672 square feet with a one-car garage. It has been up for 61 days, is on .26 acres, was built in 1968, and they want $115 per square foot. It has an 8x12 shed in the backyard. It looks dated, but nicer than Mom's house. One room has wood paneling and most rooms are a shade of pink.
However, $115 per square foot x 1,672 square feet = $192,000.
It was last sold three months after I was born.
20% down is $38,400. Zillow estimates $714 payments at 3.777%. I do not have any idea what goes into its rental guestimate, but that is somehow $1,250.
It seems plausible.
It estimates taxes at $126 and insurance at $67 monthly. That allegedly leaves $343 a month for repairs and profit.
Next is a 3-bedroom, 1-bath log cabin with 1,284 square feet for $150,000. It does not have a carport or garage. It has been up for 26 days, is on 8,712 square feet, and they want $117 per square foot. It looks fine, a little small, but no pink paint. Strangely, there is a chip in one door frame.
Next is a 3-bedroom, 1-bath house with 1,581 square feet for $194,900 without a carport or garage. It has been up for 313 days, is on 10,454 square feet, everything looks nice, and they are asking $123 per square foot.
They reduced the price $5,000 6 weeks after they put it on the market almost 9 months ago.
Someone should be able to talk them down, but how far?
If you talk them down to $175,000 it would be around $110 per square foot, the down payment would be $35,000, payments would be $651, $827 with taxes and insurance.
Allegedly you could rent it out for $1,300 with $473 for maintenance and profit, but could someone talk them down $20,000?
https://www.zillow.com/homedetails/7...8410185_zpid/?