Comments on: If I bought my home in 2000 then today it’d be worth… http://thefrontsteps.com/2007/08/16/if-i-bought-my-home-in-2000-then-today-itd-be-worth/ Real Estate Insight, Statistics, Gossip, and News - with a Twist and some Flavor Mon, 01 Dec 2008 18:29:47 +0000 http://wordpress.org/?v=2.6.3 By: Sophie http://thefrontsteps.com/2007/08/16/if-i-bought-my-home-in-2000-then-today-itd-be-worth/#comment-1942 Sophie Fri, 17 Aug 2007 01:35:49 +0000 http://thefrontsteps.com/2007/08/16/if-i-bought-my-home-in-2000-then-today-itd-be-worth/#comment-1942 I do have the answer (in another city). I bought a condo 92K in 2001. my neighbor who bought the exact same one at the same date sold it last month at 210K. not bad.. And OF COURSE - at the time I thought - "what an idiot.. I bought at the peak time" ;-) however, I do not believe in those maths. A car worth 30K in 2001 is NOT worth 35K today. Nor is the Picasso painting bought 20M in 2001 worth only 25M in 2007. So for houses, a BRAND NEW kitchen in a new building in 2001 is now totally out of fashion, and a victorian house with original detailing is even more vintage and worth more.. (with a simple tasteful paint job) so again.. Get real - and "If you’d like specific comps for your home, give us a shout, as it is impossible to compare apples to apples with such a wide audience." - and I'd add: contact a CPA to learn about the impact of the value changes on your possible tax deduction, tax free amounts etc. Doubling from 92K to 210K has NOTHING to do with increasing from 4.5M to 6M. I do have the answer (in another city). I bought a condo 92K in 2001. my neighbor who bought the exact same one at the same date sold it last month at 210K. not bad..

And OF COURSE - at the time I thought - “what an idiot.. I bought at the peak time” ;-)

however, I do not believe in those maths. A car worth 30K in 2001 is NOT worth 35K today. Nor is the Picasso painting bought 20M in 2001 worth only 25M in 2007.

So for houses, a BRAND NEW kitchen in a new building in 2001 is now totally out of fashion, and a victorian house with original detailing is even more vintage and worth more.. (with a simple tasteful paint job)

so again.. Get real - and “If you’d like specific comps for your home, give us a shout, as it is impossible to compare apples to apples with such a wide audience.” - and I’d add: contact a CPA to learn about the impact of the value changes on your possible tax deduction, tax free amounts etc.

Doubling from 92K to 210K has NOTHING to do with increasing from 4.5M to 6M.

]]>