Sweet Jesus! A house on my block just went on sale. It is a 1200 SF 2/1 bungalow on a 6,000 SF lot with no garage. It is almost directly comparable to my property, except that I have a garage with an apartment above it that brings in rental income.

The list price is $429,000.

Good lord

I paid $163,200 in 2006.

Bubbling...

Sell that **** son!!!

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Bubbling...

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yes it is....

you shoulda bought like I did 20 yrs ago son.

RtT going to throw a Tine board party when he sells

Sell?

No way. That's a retirement investment.

Sell now, live like a king in the 'burbs, move back in when the bubble pops, seriously profit.

When I first moved to Houston in 2003 the rib and I had an opportunity to buy a newly renovated 2/1 bungalow on E. 6th 1/2 that had a detached 2-car garage with a downstairs room that was approximately the same size as the garage but was finished out and it had a 1/1 apartment above the garage that had the same footprint as the garage building so it wasn't a little efficiency type place.

Anyway, they were asking $200K for it then and I couldn't convince the rib because she thought the area too dicey.

That place would probably list for $500K today.

out of staters are paying stupid prices in the heights. they don't know any better.

you really should probably sell if you stand to make over a quarter million after 8 years.

you might not see these prices for long, or again for some time.

Some three story rebuilds on my block are going for $900k. I'd guess they are three bedroom three baths. It's craziness.

Even last year that would have been $350, and why I bought in Timbergrove which is still insane.

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out of staters are paying stupid prices in the heights. they don't know any better.

you really should probably sell if you stand to make over a quarter million after 8 years.

you might not see these prices for long, or again for some time.

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What makes you think prices are going down anytime soon? Every industry present in the city is getting tons of outside money poured into their houston operations. These are folks who make these hundreds of millions of dollars evaluations for a living, they are smart folks. I hope it slows down a bit but I suspect it's going to have some legs.

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Even last year that would have been $350, and why I bought in Timbergrove which is still insane.

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No, it was probably $500s even three years ago. It's crazy but not THAT crazy.

On Alexander?

No

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Sell now, live like a king in the 'burbs, move back in when the bubble pops, seriously profit.

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bought my first house in West U (6700sf lot, bungalow 3/2) for $179k in 1994. Best investments I've ever had were West U real estate.

Bump if I'm wrong and I will eat me some crow but worry about the bubble "popping" shouldn't be you're main rationale for selling, at least any time soon.

There is no bubble. There is a lot of people moving here and not a lot of supply. Plus there's a lot of cheap money so you get higher prices.

There's no bubble per say as its not the same as other markets in the 2000s where people were putting no money down on interest only loans counting on appreciation to either refi or sell and take the equity. That's a bubble scenario and it's not happening here.

But, the market is susceptible to cheap interest rates and a GREAT economy thanks to the price of oil. If interest rates go up and the price of oil drops for whatever reason then the market will slow down quite a bit.

I do think a lot of people no longer realize how insanely low interest is for mortgages and just take it for granted. If that pops up another 2% for whatever reason homes the price increase will slow down quite a bit. Don't really see it happening but to me interest rates will effect home appreciation before anything else.

Don't see the price of oil dropping anytime soon as the demand is just too high and everyone is smarter about production for the most part not flooding the market and letting everyone reap the benefits.

Just as a respons to the cheap money argument, cheap money is what caused the last bubble. Also responsible for the student loan issues we have right now.

Yeah but this time the cheap money is going to people with money

Our 2/1 in Timbergrove would go for well over $100k what we paid for it in 2009 but we'd pay as much of a premium anywhere we'd move so were trying to rebuild in a year or so. Then I'll really bltch about taxes.

New construction is going for 1.2m 2 houses down.

People making $100k a year with bad credit aren't getting $500k interest only no money down loans like last time.

I agree the student loan issue is a bigger potential bubble than real estate. Real estate would just see stagnant or a slight decline with a few forclosures nationwide but nothing like last time. I don't think most people in Texas realize what a bubble other markets were.

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Our 2/1 in Timbergrove would go for well over $100k what we paid for it in 2009 but we'd pay as much of a premium anywhere we'd move so were trying to rebuild in a year or so. Then I'll really bltch about taxes.

New construction is going for 1.2m 2 houses down.

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2/1 1.2m.... Someone lives on the fancy side of 11th.

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Our 2/1 in Timbergrove would go for well over $100k what we paid for it in 2009 but we'd pay as much of a premium anywhere we'd move so were trying to rebuild in a year or so. Then I'll really bltch about taxes.

New construction is going for 1.2m 2 houses down.

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2/1 1.2m.... Someone lives on the fancy side of 11th.

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The $1.2m house is far from a 2/1.

http://www.har.com/mobile/touch/static/dispDetail.cfm?mlnum=64347124

We had a 1050 sqft in Woodland Heights that we bought in 2010 at $279k and just sold at $462k....Htown is hothothot

I know I know but there aren't many 2/1 on the other side of 11 err the other side of TC if that side of 11.

[This message has been edited by Lot y tailgate (edited 8/14/2014 10:32p).]

I'm on Wynnwood east of the bayou. Maroon house, Aggie pennant thing and big oaks.

Off topic but Lot Y are you really tailgating in lot y this year? That's where my parking pass is.

[This message has been edited by Drumboy (edited 8/15/2014 5:46a).]

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When I first moved to Houston in 2003 the rib and I had an opportunity to buy a newly renovated 2/1 bungalow on E. 6th 1/2 that had a detached 2-car garage with a downstairs room that was approximately the same size as the garage but was finished out and it had a 1/1 apartment above the garage that had the same footprint as the garage building so it wasn't a little efficiency type place.

Anyway, they were asking $200K for it then and I couldn't convince the rib because she thought the area too dicey.

That place would probably list for $500K today.

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I know that house very well- rented it for a year in 2009-10 before we bought our house. The owner said he would sell it to us for 500k then, would be even more now with how white oak has blown up.