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larry@stinescorner

Well-known Member
drove by this little house for sale here in nj ,I was doing some work not far from it so I saw the realestate sign and called to see how much they were asking, I thought it would be interesting for people on the site here to take a guess at the asking price and even more shocking than that,the taxes per year, As you can see by the pictures it is a very old ,small house with a little garage in back,it sits on 1/3 of an acre on a slope with the road right out front,Take a guess ,the price and the taxes per year I will let you know who guessed it
a77427.jpg
 
Guessing $200,000... taxes of $5,000 per year...
AND the very real possibility of an automobile through your porch!!!
 
Taxes $4000.00 Asking price $275000.00

The ground may be worth more than the house. Auto Zone paid $400000.00 for just the 1/2 acre lot near my nephew. This is in MD. One of those food places paid $825000.00 for a lot about
4 miles from me. Hal
 
1/3 acre doesn't give you much to work with, but I had a friend some years ago in Marietta, GA whose house ended up right at the edge of the road after the state widened the road. My friend owned an acre or two. He had the house moved back toward the back of his lot and really improved his situation.

No idea whatever what the house in the picture would be worth.

Tom in TN
 
My late brother-in-law worked for the Michigan Mutual insurance company and was asked to take over their NY office. They were living in Florida and he just wore light sport jackets to work. He had to buy dark business suits for NY.

They lived in North Bergen and he had to commute to NY. His wife told my wife it took all of that $25000.00 salary he got to live up there. Later the office was moved to Long Island NY and he had to hire new help. A few years later he was transferred to the home office in Detroit.
Hal
 
It amazes me the value of homes in different parts of the country. That house around me here in North-Easy Iowa would not bring 75-85K. Even then it would not be a fast seller.

Just up the road from me there is a small farm for sale. It has 28 acres total of ground. About 13 tillable 10 pasture. A small pond and two machine sheds. There is a 40 year old ranch style house that just needs updated, windows and siding. They have been asking $250,000 now for 3-4 years. The ground is sandy and real steep. maybe 6-7 acres should really be farmed but even that is not real good dirt. I offered $185K and was turned down with disdain. They seen put out I even offered such a low amount. LOL I get that a lot. Truthfully I am glad they did not take the offer three years ago. It is worth less now than then. The house has not been lived in and one of the sheds had the roof damaged with snow load last winter. I would not give $145k now. I must not be real far out of line on it as they have lookers ever week but no buyers yet.

A few questions to you guys:

1) How do you afford to pay such high prices for a common house??? Then the real estate taxes are real high as well. The taxes on my whole farm are just $4600. I know WI has much higher taxes than us too.

2) Are the average incomes so much higher to afford the higher cost of living??? The above average Joe around here makes 40-50K a year. That is the semi skilled or college guy. The common labor type jobs pay $12-14 per hour. At the local wood roof truss plant the highest paid guy is at $15. A real good JD tech with twenty years experience is just getting $20 now.
 
24 minutes and you give the answer !
In my town, the house would be $155k. Being on the road like that, and taxes under $2k
 
I'm surprised the taxes are so high- property taxes in Washington are generally about 1.2% of value. That house in my neck of the woods would be about 90K, on a good day.
 
price is right rules, right? $150,000. depending on county $6000-$8000 in taxes/year? I must also add i"m a deplaced jersey boy so i know house prices up there are outragous.
 
The land taxes are choking, real estate prices can be far fetched, those jobs you mention, barely afford an apartment, and say a car payment, thats it, not much left for retirement funds, savings or a rainy day, let alone a mortgage, and if you have to pay for health benefits, forget it, for example my car payment is under $300 a month, bare basic fuel saving 4 door car, add medical and dental thats $550/month, so there is a mortgage payment right there. Then add say a mortgage or your housing payment, living expenses, and I mean modest living expenses, that $20/hour, is now breaking even, you want kids, forget it, now you are in the red big time. You can scrape by, but that is it, you'll need a 2nd job or additional income to improve the situation.
 
Are you sure you didn't make a mistake? Maybe it was $16,200 and taxes were $500.
Geez I'm glad I don't live in Jurzy, that's just crazy!
 
No answers here. Just more questions!
Last years total property taxes on my 250 acres, house, barns, etc. $5764.55 The only good part of that is that 85.5% is a farm expense.
There are several junk houses on this road on about 1.5 acres, all assessed for around 90-100K!!!!! For years the assessors couldn't keep up, now they refuse to dial back.
I think young people try to afford these houses with two incomes, 30 year mortgages, gone working/commuting all the time, relative or cheapest hireling watching the kids..........
Does anybody think this is good?
 
Location? Location? Location?

Is it in town next to a new shopping center that will be expanding, or is it out in the country on a busy truck route and next to a river that floods four tmes a year?

Personally I wouldn"t want it because it"s way too close to that highway.

I"ll guess the asking price is $249,900 as it sits & would be $199,900 for the bare lot without the house & buildings. Taxes are $10,000 per year with the buildings, & $2000 per year for the just the bare land? All are way more than I"d pay for it.
 
Around here (South Central Kentucky) the house would bring about $40,000 (maybe) and the taxes would be $270 on that.
 
Taxes in the east/ north east are rediculous. The city of Worcester MA recently reassessed all commercial properties. A historic theater's property went from a value of ~600,000 to 2 million. Their taxes doubled. The owners decided it would be better to tear down the theater. Now the city is crying that they are losing a historic theater. Keep voting them in and they'll keep sticking it to you!
 
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