Thread: Pre-owned homes appreciated 27% in a year
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Old 05-16-2014, 11:32 AM
JMEZARIC3 JMEZARIC3 is offline
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Quote:
Originally Posted by gomoho View Post
The Daily Sun reports pre-owned homes have appreciated 27% since the first quarter of 2013 till the first quarter of 2014.

Thoughts or opinions on this number?

I stand corrected - the following explains where the 27% number came from.

•In Q1 2013 the pre-owned ave. selling price was $199,326.
•In Q1 2014 the pre-owned ave. selling price was $253,179
We purchased a Patio Villa in Lynnhaven during May 2013.Prices on similar Patio Villas are now 15 to 20% higher.Not a bad return for one year.I wish that we purchased in 2011.Our gain would have been 30 to 40%.
But folks who purchased Patio Villas at the market peak(2008?) are now able to sell at a small gain. The housing market goes up and down.In the long run purchasing a home is a good investment.