Posted by JDseller on July 26, 2012 at 07:14:41 from (208.126.196.144):
In Reply to: take a guess posted by larry@stinescorner on July 26, 2012 at 06:17:17:
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.
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