Monday, October 10, 2005
Not Much New Part II
Let's talk 'Housing Bubble'.
Since I've lived back in Dayton (almost two years now), there have been two houses in my neighborhood that have sold within a week of being placed on the market. These were well-kept homes in pristine condition; The Best of the Best.
But on our daily neighborhood walks, Grace and I pass several houses that have been on the market for months, if not for over a year.
The realty signs sit for awhile. It takes about a month to six weeks before NEW PRICE gets added. Another month, and PRICE REDUCED! After another few months, the sign goes down, replaced by FOR SALE BY OWNER. Or a different listing agency. Meanwhile, the owners have moved; the yards becomes untended.
These are not bad houses. Hugshyhermit does not live in a crack house neighborhood! The neighborhood has homes from the 1920s through the early 1950s; of the bungalow rather than the ranch type.
A few months ago, my favorite single-family house in the neighborhood went up for sale. It is two blocks up from me on the same steet; a small, vinyl-sided house with a brick and stone entry, sitting on a corner lot with large oak trees, a drive-in garage and a screened porch off the living room. The flyer told me it has 2 fireplaces, 3 bedrooms and a family room framed in knotty pine in the basement. It also has a built-in photographer's Dark Room!
"Should I?" I thought to myself. The price was right; just 2 times my annual salary.
But no! That would be pure stupidity. I have no intention to stay in Dayton.
The house sits empty, papers collect on the stoop and branches collect on the lawn. The screen door snaps in the wind.
Since I've lived back in Dayton (almost two years now), there have been two houses in my neighborhood that have sold within a week of being placed on the market. These were well-kept homes in pristine condition; The Best of the Best.
But on our daily neighborhood walks, Grace and I pass several houses that have been on the market for months, if not for over a year.
The realty signs sit for awhile. It takes about a month to six weeks before NEW PRICE gets added. Another month, and PRICE REDUCED! After another few months, the sign goes down, replaced by FOR SALE BY OWNER. Or a different listing agency. Meanwhile, the owners have moved; the yards becomes untended.
These are not bad houses. Hugshyhermit does not live in a crack house neighborhood! The neighborhood has homes from the 1920s through the early 1950s; of the bungalow rather than the ranch type.
A few months ago, my favorite single-family house in the neighborhood went up for sale. It is two blocks up from me on the same steet; a small, vinyl-sided house with a brick and stone entry, sitting on a corner lot with large oak trees, a drive-in garage and a screened porch off the living room. The flyer told me it has 2 fireplaces, 3 bedrooms and a family room framed in knotty pine in the basement. It also has a built-in photographer's Dark Room!
"Should I?" I thought to myself. The price was right; just 2 times my annual salary.
But no! That would be pure stupidity. I have no intention to stay in Dayton.
The house sits empty, papers collect on the stoop and branches collect on the lawn. The screen door snaps in the wind.