We moved into our neighborhood about three years ago. The neighborhood was built in the 90s, a bunch of families moved in and raised their kids together, and apparently now they are all moving out. Since we moved in, a huge number of our immediate neighbors have sold their houses. Thankfully it wasn’t because of foreclosures or anything like that. I think it’s just a combination of their point in life and the fact that the market in our neighborhood is really hot.
Take a look at this map. The black circle is our house. Red ones have changed hands since we moved in and blue is either up for sale now or will be in the next month.
If you want to be our neighbor, you better be on your game. Almost all of these houses have sold within a few days of being listed and are going for ~10% over the asking price.
I’m thankful that we got in when we did because it looks like a pretty good point in the market history. Our sale price is roughly what it was worth back in the middle of 2005 and now the value is up ~25% back to almost the last peak. It does us very little good since we have no intention of selling, but it’s nice to be on the good end of a real estate investment for once. It gives me hope that down the road when we decide to sell, our good location will continue to make our house an easy sell.
P.S. I’ve been intentionally vague about some of these numbers because it feels a little weird to write about money. But everything here (and more) is public data that you can easily find if you know my address.
Hot Neighborhood
We moved into our neighborhood about three years ago. The neighborhood was built in the 90s, a bunch of families moved in and raised their kids together, and apparently now they are all moving out. Since we moved in, a huge number of our immediate neighbors have sold their houses. Thankfully it wasn’t because of foreclosures or anything like that. I think it’s just a combination of their point in life and the fact that the market in our neighborhood is really hot.
Take a look at this map. The black circle is our house. Red ones have changed hands since we moved in and blue is either up for sale now or will be in the next month.
If you want to be our neighbor, you better be on your game. Almost all of these houses have sold within a few days of being listed and are going for ~10% over the asking price.
I’m thankful that we got in when we did because it looks like a pretty good point in the market history. Our sale price is roughly what it was worth back in the middle of 2005 and now the value is up ~25% back to almost the last peak. It does us very little good since we have no intention of selling, but it’s nice to be on the good end of a real estate investment for once. It gives me hope that down the road when we decide to sell, our good location will continue to make our house an easy sell.
P.S. I’ve been intentionally vague about some of these numbers because it feels a little weird to write about money. But everything here (and more) is public data that you can easily find if you know my address.