Monday, July 28, 2003
Yesterday Sophia and I had a good laugh at our good fortune...
We noticed the "open house" signs two doors down. It is a fine yellow house that is the fourth in the series of lots that match ours. Their house has a garage instead of a carport and have redone the lower balcony into an office and sitting room. Their yard is a garden, not weeds. So I guess they don't match exactly.
I went to eRealtor.com to see if they were listed. When Sophia came home I asked her to guess the price. $600K. Higher. $650? More. $7? Up. $725? More... $800? Still lots more. She gave up. The asking price is $889,000.
So here is a report on the houses in the neighborhood currently for sale:
Two doors down: $889K
Diagonal on the corner: $795K (this started at $850 or so)
Down one block on corner: $890K
Up the hill: $1,299,999 (this one is apparently worth 1M)
A house is only worth what it actually sells for, not what it is list price. However, it is just a little frightening to be in a neighborhood with this type of prices. Perhaps we are in the bubble phase of home prices. The little 600 square feet cottage starts at 400-500K. And everything seems to be starting well above what I'd imagine as reasonable.
So after laughing at our good fortune we went out on the patio to enjoy the view.