My part of town built 1950 to early 1970.. several homes are owned by REITs and the 4 sale prices are $250k when 4yrs ago it would be $140k. And that high asking price doesn't reflect much in upgrades done.. slap some paint put a new stove and bam 140k profit. Crazy.
It's coming down, marginally, mainly because interest rates are high. The thing is everyone is evacuating the high cost areas of the country...NY/NJ, CA, MD, etc...and while we look at the homes you described and wonder why they're so high, they look at them and wonder why they're so LOW. That's why prices have jumped like they have.
Thanks for watching! : )
My part of town built 1950 to early 1970.. several homes are owned by REITs and the 4 sale prices are $250k when 4yrs ago it would be $140k.
And that high asking price doesn't reflect much in upgrades done.. slap some paint put a new stove and bam 140k profit. Crazy.
It's coming down, marginally, mainly because interest rates are high. The thing is everyone is evacuating the high cost areas of the country...NY/NJ, CA, MD, etc...and while we look at the homes you described and wonder why they're so high, they look at them and wonder why they're so LOW. That's why prices have jumped like they have.