|
I'm still suspecting there will be a hit to home prices, but I love our home too much to consider selling it...no idea where we would live.
The house a few doors down from us just went on the market for $2.5M, but I think the house is a tear down. So I think its sort of a ridiculous price but it has 230 feet of waterfront and a 1 acre lot, so it does have that going for it. To be clear, our house is worth far less as we are on the other side of the road so we aren't waterfront, but we can still access the water so we feel like we have the best of both worlds right now. At least as long as our water access remains.
But yes, house prices are crazy. The bank just appraised my neighbour's house at $1.1M and that's a bank appraisal which are typically low...they tend to build in a decent safety margin on those as I understand. His house is likely worth $1.3M or so realistically if that's what they are appraising it at.
We have to be due for a correction I think.
|