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Posted: 6/1/2009 2:38:46 PM EST
[Last Edit: 6/1/2009 3:00:59 PM EST by Qweevox]
I'm just curious what the average selling price is for an upper middle class home today...

Not a luxury home, but better then average.

Originally Posted By Brians_45:
Gimme something to work with, here. Square footage? Number of beds/baths? Granite counters? Tiled granite counters? Wood floors? REAL wood floors? Top tier appliances?


I'm sorry there are so many variables. I just want to know what an "upper middle class" person's house might sell for in your area.

In New York City that might mean an 800 square foot flat, in LA that might be a place in the valley....what ever an "upper middle class" home is in your area. That's what I mean.

Originally Posted By nick89302:
Selling for or listing for?


Selling....

Tell me how much of discount you think buyers are getting off list right now....

Originally Posted By nobodyg17:
You might want to go by square footage or something. Otherwise every answer will be 125k-250k


Not a bad idea, but I think "size" varies so much from region to region. In my neck of the woods an upper middle class home would be 3500-4500 square feet and is selling for around $130-$140 per square foot. But in my area land is relatively cheap. I guess someone in a larger city would have a lot more "land cost" built into the price of their home.

I just want the selling price of home a fairly successful small business owner, upper level executive, or maybe a family doctor might own. Not the CEO, Rap Star, Plastic Surgeon, or high dollar ambulance chaser (attorney).....successful but not mind blowing successful.

I know there are a lot of variables....just want to see the forum's average....
Link Posted: 6/1/2009 2:40:34 PM EST
You might want to go by square footage or something. Otherwise every answer will be 125k-250k
Link Posted: 6/1/2009 2:41:38 PM EST
Selling for or listing for?
Link Posted: 6/1/2009 2:42:07 PM EST
$125K for a home that cost $200K to build 5 years ago.
Link Posted: 6/1/2009 2:42:41 PM EST
Originally Posted By nick89302:
Selling for or listing for?


Selling....

Tell me how much of discount you think buyers are getting off list right now....
Link Posted: 6/1/2009 2:44:10 PM EST
if upper middle class means "somewhat above average" it's still northwards of $800k here
Link Posted: 6/1/2009 2:46:00 PM EST
You can buy a nice 3/2 on a postage stamp lot in most places in my county for right around $200K

The 3/2 across the street is $900K. I'd sell mine for $250K.

There's not an easy way to answer your question because location is so important, the same house can be worth twice as much if it's a mile away in a better neighborhood, or even just on the right side of the street.
Link Posted: 6/1/2009 2:47:06 PM EST
Hmm, probably $175-225k for 2000-2500sqft.
Link Posted: 6/1/2009 2:49:44 PM EST
Originally Posted By Qweevox:
I'm just curious what the average selling price is for an upper middle class home today...

Not a luxury home, but better then average.


3 BDRM, 1 & 1/2 BATHS, LARGE KITCHEN, needs some roof repairs, $125,000.

Link Posted: 6/1/2009 2:50:34 PM EST
[Last Edit: 6/1/2009 2:53:05 PM EST by Qweevox]
Originally Posted By nobodyg17:
You might want to go by square footage or something. Otherwise every answer will be 125k-250k


Not a bad idea, but I think "size" varies so much from region to region. In my neck of the woods an upper middle class home would be 3500-4500 square feet and is selling for around $130-$140 per square foot. But in my area land is relatively cheap. I guess someone in a larger city would have a lot more "land cost" built into the price of their home.

I just want the selling price of home a fairly successful small business owner, upper level executive, or maybe a family doctor might own. Not the CEO, Rap Star, Plastic Surgeon, or high dollar ambulance chaser (attorney).....successful but not mind blowing successful.

I know there are a lot of variables....just want to see the forum's average....

Link Posted: 6/1/2009 2:50:55 PM EST
[Last Edit: 6/1/2009 3:03:55 PM EST by trwoprod]
Depending on how far out you want to live and if it is a new craptastic McMansion where the illegal alien crew used fewer studs to let the builder install Chinese "granite" countertops or something built well, the price in Houston can vary from between $200k for 4500 square feet and 3 acres to $1.5mil. How close to the city center and how old would help.

ETA:

Houston Area Realtors web site Do a search on the criteria you want. Look at the spread.

ETA:

This is what $250k gets you 90 minutes out of downtown Houston north on IH-45.

This is what $12,750,000 gets you in my zip code. Note that the lot is smaller and it does not have a workshop. And the HOA is very intrusive. This is five or six minutes on surface streets from downtown Houston.
Link Posted: 6/1/2009 2:51:04 PM EST
Gimme something to work with, here. Square footage? Number of beds/baths? Granite counters? Tiled granite counters? Wood floors? REAL wood floors? Top tier appliances?
Link Posted: 6/1/2009 2:52:42 PM EST
Link Posted: 6/1/2009 2:54:11 PM EST
What is an upper middle class house selling for in this area?

Nothing.

You can't even give a house away here right now.
Link Posted: 6/1/2009 2:57:52 PM EST
[Last Edit: 6/1/2009 2:59:21 PM EST by Qweevox]
Originally Posted By Brians_45:
Gimme something to work with, here. Square footage? Number of beds/baths? Granite counters? Tiled granite counters? Wood floors? REAL wood floors? Top tier appliances?


I'm sorry there are so many variables. I just want to know what an "upper middle class" person's house might sell for in your area.

In New York City that might mean an 800 square foot flat, in LA that might be a place in the valley....what ever an "upper middle class" home is in your area. That's what I mean.

Link Posted: 6/1/2009 2:59:27 PM EST
Here in my area a 300k house is not middle class. It is very upscale. It costs $95/sq.ft. here to build, so you do the math. I know of very few houses worth over 250K. and I know a lot of people with very nice homes.
Link Posted: 6/1/2009 3:05:26 PM EST

Originally Posted By Qweevox:
I'm just curious what the average selling price is for an upper middle class home today...

Not a luxury home, but better then average.





Does UPPER Middle class mean they took the Wheels off?





.



Link Posted: 6/1/2009 3:05:28 PM EST
Originally Posted By Qweevox:
Originally Posted By Brians_45:
Gimme something to work with, here. Square footage? Number of beds/baths? Granite counters? Tiled granite counters? Wood floors? REAL wood floors? Top tier appliances?


I'm sorry there are so many variables. I just want to know what an "upper middle class" person's house might sell for in your area.

In New York City that might mean an 800 square foot flat, in LA that might be a place in the valley....what ever an "upper middle class" home is in your area. That's what I mean.



About $500,000, depending on specifics. It could swing as much as 50k either way.

Here is what that would include:

3,000 square feet
4 bed, 3 bath
maybe 1 half bath
solid surface counters throughout
real wood floors wherever you wanted
nice appliances
nice cabinets

That would be around Baton Rouge, LA.
Link Posted: 6/1/2009 3:06:24 PM EST
Originally Posted By stutzcattle:
Here in my area a 300k house is not middle class. It is very upscale. It costs $95/sq.ft. here to build, so you do the math. I know of very few houses worth over 250K. and I know a lot of people with very nice homes.


I also know people who did not buy in the most expensive parts of Houston and have very nice homes for not that much money –– the land prices and self control when it comes to the house (and reasonable labor rates) make a huge difference.
Link Posted: 6/1/2009 3:10:13 PM EST
Originally Posted By Qweevox:
Originally Posted By Brians_45:
Gimme something to work with, here. Square footage? Number of beds/baths? Granite counters? Tiled granite counters? Wood floors? REAL wood floors? Top tier appliances?


I'm sorry there are so many variables. I just want to know what an "upper middle class" person's house might sell for in your area.

In New York City that might mean an 800 square foot flat, in LA that might be a place in the valley....what ever an "upper middle class" home is in your area. That's what I mean.



I think that you could get a perfectly nice middle class home on 6-10,000 square feet in a lot of parts of Houston with a nice neighbors, 4/2.5, two car garage, 2000-2500 square feet for $120-150k, easily, and prices have been falling. Kick that up $100k and you can get a very nice home, and the ones that went from $280k to $600k over the last eight years are headed right back to $280k now. Some of the ones that were $600k are selling for a hair over $400k, and things haven't really got bad here yet. Yet.
Link Posted: 6/1/2009 3:12:17 PM EST
"Tell me how much of discount you think buyers are getting off list right now...."

4K sq ft just sold around the corner from the parents. Decent shape. 28.00 a sq/ft.
For 10-15K in basic repairs/landscape/paint it will be a really nice place.
It had a cash out refi at the peak of 462K. I figure the bank lost 350K plus
when it was all said and done.

Right now in Florida almost 11% of all home loans are in some stage of default.
3.5%+ are in direct foreclosure. Most of these are ALT-A and Prime defaults.
Subprime is pretty much done with for now. The recasts on pay option arms
are going to be fucking ugly. Batten down the hatches,crawl under the desk
ugly.

See me next year and I'll let you know how much mid level homes collapse.
There are NO move up buyers. Median county HOUSEHOLD income is about
36K. My opinion now...Back to 1997/1998 pricing. Competitive rents are approaching
that level right know. I pay 400/mo for a nice 2/2/1 duplex right now.

I have waited paitently for 5+ years for this. Another year or two wait for a really
nice place is a cakewalk...In the meantime all those toys that were purchased
with borrowed equity will be able to be had for dimes on the dollar.
I have been saving for this also...

Chris




Link Posted: 6/1/2009 3:16:35 PM EST
[Last Edit: 6/1/2009 3:16:52 PM EST by trwoprod]
Originally Posted By Cobradriver:
"Tell me how much of discount you think buyers are getting off list right now...."

4K sq ft just sold around the corner from the parents. Decent shape. 28.00 a sq/ft.
For 10-15K in basic repairs/landscape/paint it will be a really nice place.
It had a cash out refi at the peak of 462K. I figure the bank lost 350K plus
when it was all said and done.

Right now in Florida almost 11% of all home loans are in some stage of default.
3.5%+ are in direct foreclosure. Most of these are ALT-A and Prime defaults.
Subprime is pretty much done with for now. The recasts on pay option arms
are going to be fucking ugly. Batten down the hatches,crawl under the desk
ugly.

See me next year and I'll let you know how much mid level homes collapse.
There are NO move up buyers. Median county HOUSEHOLD income is about
36K. My opinion now...Back to 1997/1998 pricing. Competitive rents are approaching
that level right know. I pay 400/mo for a nice 2/2/1 duplex right now.

I have waited paitently for 5+ years for this. Another year or two wait for a really
nice place is a cakewalk...In the meantime all those toys that were purchased
with borrowed equity will be able to be had for dimes on the dollar.
I have been saving for this also...

Chris






I am with you 100% on this. I think that Houston will see the same thing but more gently because of a lower peak (doubling as opposed to quintupling) and that yes, 1998 prices will be back shortly, if now lower. And I don't think that residential real estate will bottom here until the end of next year. And commercial real estate probably a year after that.
Link Posted: 6/1/2009 3:29:40 PM EST
"I am with you 100% on this. I think that Houston will see the same thing but more gently because of a lower peak (doubling as opposed to quintupling) and that yes, 1998 prices will be back shortly, if now lower. And I don't think that residential real estate will bottom here until the end of next year. And commercial real estate probably a year after that."

Agreed. The parents have rental properties in Cape Coral. It's sad when a place
is paid for and the cash flow still sucks bad. The people with notes are getting
slowly crushed. I haven't even looked at rentals with them since 2001.
They quit cashflowing with 20% down about then. "Buy for the capital appreciation",
Right. Dad and Mom sat it out. I caught sooooooo much shit from the people
at work for not jumping in "You'll be priced out forever" I fucking rub it in
every chance I get. Yep,I'm an asshole like that.

Oh,quintupling is minor. How about a 1.2 acre lot that sold for 26K in 2002.
The county has that same lot on the tax rolls at a current value of...............

408K. It hasn't been improved an inch. That is what other lots on the street
sold for in 05/06/07. This is a canal to the gulf BTW.

Chris
Link Posted: 6/1/2009 3:30:36 PM EST
Where's the option for "a lot less"?
Link Posted: 6/1/2009 3:31:26 PM EST
Upper middle class in my neighborhood is over a million for the better homes.
$650k and up for an average, run o' the mill place.
Link Posted: 6/1/2009 3:32:07 PM EST
Define upper-middle class. By some definitions, Bill Gates is upper-middle class.
Link Posted: 6/1/2009 3:35:22 PM EST
$500,000 and up.
Link Posted: 6/1/2009 3:54:18 PM EST
Originally Posted By kap_x:
Define upper-middle class. By some definitions, Bill Gates is upper-middle class.


I'd like to know who considers Bill Gates upper-middle class...

However, I agree it is relative. The IRS says that the forth highest quintile of households in the US (both one and two income households) makes more then $75K per year....so technically maybe that's the starting point of upper middle class households. I don't know.

It's really more of a perception question. What do YOU think an "upper middle class" household makes?

Link Posted: 6/1/2009 5:45:33 PM EST
Location, location, location. In the DC area, an upper middle class house in PG county might go for $300k, while in Fairfax County the same house might cost $900k.
Link Posted: 6/1/2009 5:55:51 PM EST
[Last Edit: 6/1/2009 5:59:16 PM EST by chrism101]
Just built mine:

2800 sq foot, brick, 2 car garage, 9foot ceilings 12 in great room, ceramic tile, silestone counters, pergo floors.
4br 3 bath...On 3 acres... new gated community with a view.

$180,000.00 but my dad is in construction so I would say $250,000.00
Link Posted: 6/1/2009 6:03:23 PM EST

Originally Posted By Qweevox:
Originally Posted By kap_x:
Define upper-middle class. By some definitions, Bill Gates is upper-middle class.


I'd like to know who considers Bill Gates upper-middle class...

Oprah.
Link Posted: 6/1/2009 6:03:23 PM EST
[Last Edit: 6/1/2009 6:03:37 PM EST by Bushylover]
double tap.
Link Posted: 6/3/2009 3:49:50 PM EST
[Last Edit: 6/3/2009 3:52:11 PM EST by Qweevox]
Originally Posted By Bushylover:

Originally Posted By Qweevox:
Originally Posted By kap_x:
Define upper-middle class. By some definitions, Bill Gates is upper-middle class.


I'd like to know who considers Bill Gates upper-middle class...

Oprah.


"Oprah"......

....not....even....close.......

Gates could buy Oprah a few times over.......

.....and still buy your average middle sized US city.....with cash.
Link Posted: 6/15/2009 6:51:45 PM EST
Originally Posted By Qweevox:
Originally Posted By Bushylover:

Originally Posted By Qweevox:
Originally Posted By kap_x:
Define upper-middle class. By some definitions, Bill Gates is upper-middle class.


I'd like to know who considers Bill Gates upper-middle class...

Oprah.


"Oprah"......

....not....even....close.......

Gates could buy Oprah a few times over.......

.....and still buy your average middle sized US city.....with cash.


Just read today that Oprah is worth something like 2.7 Billion. That means Gates could buy her almost 20 times over. He's worth al little over 54 Billion.
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