Sponsored by: Vegas homes
As we get ready to sell our house and buy a new one, I’ve been racking my brain trying to figure out who, what, when, why and how homes REALLY get their values? Right now we live in Overland Park, Kansas (that’s on the Kanasas side of the Kansas City metro). The county is Johnson, and has been listed as one of the richest counties per capita in the country … maybe they are going by county tax income b/c I know we’re sure not rolling in the riches.
Anyway, we moved up here from Springfield, Missouri, and the sticker shock on homes floored me! 😯 The same house in OP that we were looking at (i.e. – 3bd, 1ba, 1gar, 985-ish square feet) that was listed for $135,000 was more around $65-70, 000 in Springfield. Even just across the state line to the Missouri side of Kansas City would be about a $30,000 difference.
You can argue location, location, location to me all you want but trust me, the location of the house we are trying to sell does NOT warrant the amount we paid (I hope no one considering our house is reading this. 🙄
So I got to thinking, “what about homes in other parts of the country?” I’ve got two buddies who are in student ministry – one in Memphis and one in Las Vegas. I got on one of them internets things and punched up “homes in las vegas.” One of the sites that came up was Las Vegas Homes. Now, they don’t exactly have the best search feature, but I did what I could to find similar homes to the example above, and I found three (3) results:
- Condo: 3bd, 1car, 1,600 sq ft — $745,000
- Condo: 3bd, 1car, 1,655 sq ft — $755,000
- Hi-Rise Condo: 3bd, 1car, 3,000 sq ft — $6.6 MILLION???
Wow! Wow! Wow!
Seriously, I know that Vegas is just swimming in the green of the hypnotized, but I don’t even know where to start. Nearly 6-times as much for similar living space? Now, these results were just condos, are houses priced differently? Maybe these guys just don’t represent the cookie-cutter homes that are sometimes seen on CSI?
UPDATE: OK, so I went back and did a different search … for “resale” homes. Evidently the search I did earlier was for “new” homes. The resale homes represent a more equivalent price range, but some of these houses look like they are about to fall over. Of course, I have to go up to about $160,000 to find something that doesn’t look like it’s about to fall over (from the pic anyway).
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