Buying a home soon - thinking of Springfield...

[ChriswUfGator]

You're comparing apples to oranges though. NYC housing often goes for over $1k/square foot. That doesn't mean a $300k house (formerly listed at $400k) in Springfield is a good deal.

Honestly, that place is overpriced. I sold a restored and updated quad in the historic district, with FOUR separate 3/1's in it, each one rented for $1k/mo+, for less than that! And uhh...if nobody's noticed...the real estate market hasn't exactly gotten *better* since then...

I think the highway robbery analogy was pretty accurate.

[tufsu1]

you want a steal of a deal...check this one out

http://www.realtor.com/realestateandhomes-detail/121-5Th-St-East_Jacksonville_FL_32202_1105039013

[thelakelander]

$90.41 a square foot.  Definitely appears to be a better deal.

[Deuce]

Chris I think you missed my point a bit. I was trying to demonstrate how much perception plays into the price of a home. I was also trying to show how complex the market factors are that determine price.

I don't think that comparing houses on a price per square foot is comparing apples to oranges. It's the most objective raw measure of cost that can be used in home comparisons.

That is an awesome deal tufsu1!

[Shwaz]

you want a steal of a deal...check this one out

Isn't the east side of Main St. pretty rough? The house looks amazing and the price seems great... but if it's located next door to a crack house or meth lab $6.00 a sq ft isn't worth it.

[Deuce]

East side of Main is not pretty rough. It's the same as the west side. That's in a great location on 5th. I live only a few blocks away. The block I live in on is about as rough as living in Timberlin Parc.

[Johnny]

Eastside is where it's at... I live next to Three layers... everyone's jealous!

[Johnny]

you want a steal of a deal...check this one out

http://www.realtor.com/realestateandhomes-detail/121-5Th-St-East_Jacksonville_FL_32202_1105039013

This is being discussed on the Spar forum. That is an Operation New Hope house and though I am glad it's being built on a vacant lot and bringing in families, it's not an accurate portrayal of home prices in this neighborhood and shouldn't be considered a reasonable price. It's a new home, on a free lot with government incentives. They didn't spend $250,000 for a rehab on a $100,000 condemned structure to get an old beauty back in liveable condition.

[Deuce]

Aren't there income limits on Operation New Hope houses?

[fsu813]

1) That location of E. 5th isn't "great", but it's ok though.

2) ONH houses have income limitations for the 149k house. I think it's about 62k joint income. If you make more than that then you close to full price, about 190k. The lot is still donated though, so you don't have to pay for the actual land. That being said I think there is only 1 lot available to people making over 62k jointly, the others were donated by the city and have to be given to people that qualify for 149k price.

3) The contractor of ONH, Tom, is a very nice guy.

[77danj7]

While ONH is a great operation (we have a renovated home of theirs) they leave many of the historic details "left to be desired."
But overall they do a good job

[Deuce]

Cause I love numbers (and to reiterate my comments about deals & steals):

Price per sq/ft for a qualifying income: 90.41
Price per sq/ft for full price: 115.29

[mtraininjax]

Just be aware that banks are now instructing appraisers to include ALL TYPES OF HOUSES in their appraisals. So if your house is brick, don't be suprised to get wood siding as an appraisal, AND at least one foreclosure included. The Appraisals are killing some wood-be home owners.

[Shwaz]

Just be aware that banks are now instructing appraisers to include ALL TYPES OF HOUSES in their appraisals. So if your house is brick, don't be suprised to get wood siding as an appraisal, AND at least one foreclosure included. The Appraisals are killing some wood-be home owners.

huh? 

[mtraininjax]

Yeah!