My son bought a house four!

In Norwalk, Connecticut. 4BR, 3 full bath but no garage. The basement is finished with a family type room on one side and a work shop on the other with a walk in cedar closet in the middle.

Asking $495,000; he offered $475k. They came back with "We had an open house and got four offers", he countered with $505k and they took it. An inspection with some discrepancies, like the upstairs shower exhaust dumping straight into the attic; they offered a $5,000 kickback.

Closing the first week of July. They're excited!

I can already see where the garage will go.
Tell him we all said congratulations.

DINK I assume? When I see house prices like this, I wonder what I was doing when the money train came to town.

Looks fantastic. Congrats

That's $300K tops in my area, $1 mil minimum where my brother lives. House prices are funny.

No garage in Connecticut? Hardy folk!

House prices are relevant to the area. $100k will buy you a nice house in my town.

My house, 100+ yrs.,2400+sq.ft. 3 bedrooms, 1 1/2 baths. Attached garage with walk in cellar which has cement floor. Carport. small corner lot. Assessed at $ 77K

AngryCorvair wrote: DINK I assume?

Right now, yes, changing soon. This is about right for the area, she's a child psychiatrist and he's a wine rep with a big territory in Manhattan (if she can't cure it, he will). Mortgage is not much more than they paid for rent, also high in the area.

Where I live 1/4 Mil is a nice place, in Ct. it's something you bulldoze.

Half a mill in my town will buy you 6K+ square feet with a 4 car garage. Housing prices are one of the reasons so many Yankees retire in the south. Sell your home in the north for half a mill, come south and buy a bigger house for $150K. The rest goes in your retirement account.

My in-laws live in the DC area. A house in their neighborhood sold for 880k it was 1300sq ft 3br 1ba 1 car garage and hardly a yard. My in-laws house is 5k+ sq ft. I can't even imagine.

I've lived in Connecticut almost all of my life and I love it here. I was even in Norwalk earlier today. But I can't figure out for the life of me how anyone has ever managed to move here from another state.

Half a mil where I live gets you a McMansion, or a nice farmhouse on 40 acres. Last year we bought a nice 1800 sf 3/2 60's splitlevel with good bones but tired floors and finishes for 160k. My buddy bought a very nice 4bd 2 1/2 ba 2700 sf house that was eight years old at the same time for 275k. It's really kinda crazy how the market is so tied to location.

My cousin and her husband sold their 1200 square foot ranch in San Fran and bought a mansion in Nashville. The big house was $500K less than what they sold the small house for. Now she lives in a gaited community with Keith Urban and a bunch of pro athletes. The cool part was her company moved its headquarters and took her with them, paid all her moving expenses, gave her a raise, and even gave her husband a decent job once they got there. Went from barely scraping by to rich in one cross country move.

Toyman01 wrote: Sell your home in the north for half a mill, come south and buy a bigger house for $150K. The rest goes in your retirement account.

The disparity in housing prices in the US are a great boon for retirees. There are tons of really nice places to live that are cheap as heck because they lack income opportunities. For those who don't need income, homes in these areas go for dirt cheap.

I'm looking at Knoxville, TN, where $80k would buy me all the house I could ever need.

It's a coinky dink!

Ian (son) sells wine to restaurants in Manhattan and a few country clubs in Westchester. There are "uncommisioned" customers, they call in an order with no rep to support them. A Union guy asked why not giving the commission to the sales folk that have been there for more than one year instead of the company taking it.

Good question. Ian received just a check for $2600, will happen every 12 months. Woohoo! He needs to buy a BBQ and garden tools anyway and free money just spends better.

914Driver wrote: It's a coinky dink! Ian (son) sells wine

Make it a double!

My oldest and dearest friend owns a company that imports and distributes French wines. He likewise lives in Connecticut. Fairfield, just a few miles from Norwalk.

edit: or maybe there's something in Connecticut that makes people want to drink wine.

EvanR wrote: edit: or maybe there's something in Connecticut that makes people want to drink wine.

Yes, it's called rich white ladies

No it's the real estate market!