NOYB wrote:
wrote in message
oups.com...
NOYB wrote:

There is one home (out of 31 for sale in my neighborhood) under 7
figures.
It's 1500 sq ft., was built in 1960, and is priced at $959k.


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31 homes for sale in your "neighborhood"? Either its a big
neighborhood, or that full size Bush billboard in your front yard
has
everybody p-o'd. :-) (kidding)

Illustrating my point, exactly. Lets say you paid $500,000 for you
pad,
and it would now sell for
$1.3mm. If you sold your house for that price and needed to move to
another just as nice, it would cost you $1.3mm to buy an equivalent
home in the same area.

Here's the real life example:
I paid $825k for the current home on the water.
The last house to sell just like mine sold for $1.225m.
After realty and closing costs, I'd clear about $360k

I sold my old house for $560k last year (not on the water)
The last house to sell like my old one just sold for $625k.
If I bought the new house for $625k, after closing costs, I'd be in
it for
under $650.

So I would net a quarter of a million dollars if I sold my current
home and
bought my old one again.

That's profit, right?

I could always sell my house and move a little bit inland...and make
a huge
profit in the process. Or I could move to Lee County instead of
Collier
County.

This from a person who has an interest only loan because he's maxed
out.....