Outside looks like a prison, inside looks like an early 90's porn set. That house is a complete gut and remodel, plus exterior reno. Shit, teardown.Yet another example proving that, if the architect's name is in the listing, expect one ugly ass house. Indoor pool room doesn't have a single window...that's so weird
28 Shore Dr, Portage, IN 46368 | MLS #530511 | Zillow
This 9338 square feet Single Family home has 5 bedrooms and 5 bathrooms. It is located at 28 Shore Dr, Portage, IN.www.zillow.com
Good lord! That place if fucking hideous! Looks like it came out of the movie Coming to America!Does anyone want a 15,000 sqft house on 10 acres for $2.7 million?
Seems like a great value. It's just VERY ugly
24575 N State Route 59, Barrington, IL 60010 | MLS #11896618 | Zillow
This 15270 square feet Single Family home has 7 bedrooms and 9 bathrooms. It is located at 24575 N State Route 59, Barrington, IL.www.zillow.com
www.wsj.com
Look at any data you want, it will clearly show that demand from 2003-2007 was driven mostly by speculation (and made possible by irresponsible lending) whereas today's demand is due to demographics, and today's lending standards are much much higher.
Plus, the homes have to at least appraise close to that price, as most people aren't paying another $150K out of pocket to cover the appraisal difference to still buy the house.
It cracks me up when people think that just because a house is listed at 150k more than it was several years ago, that it's not "worth" that much. Your grasp on the past notwithstanding....it is, by definition, worth that much if someone buys it.
The car thing I agree with, but houses, wellllll people need a place to live so that's no surprise.
Homes are appraising higher sure…
The stock market is up about 50% since May 2020 (and 80% since March 2020)...is your 401k also not "worth" the dollar amount that it's currently valued at?
You hit the nail on the head... it isn't really "worth" More....
Ill take the win as my pmi is gone, but now my property taxes are up because of the appraisal... so its a wash..
How would the county know about the new appraised value if there's no ownership change? I thought they only tracked transaction values. Appraiser reports it to you and the bank...neither of whom have any reason or requirement (that i'm aware of) to inform the county?
Its coincidental that both happened at the same time, cook county assessors just did their tri-annual assessment's and my home value with them went up 150%. So my taxes are going up, but my PMI is going away..
I'm getting hit with the same shit. Zillow thinks my house is worth a mil and now the local governing body that produces our property tax increases is taking that along with comps to increase our taxes. I'm glad I bought during the craziness of 2021 at 3.25% but damn I doubt I'd get anywhere near a mil for this house as nice as it is no one in their right mind would finance 800K at almost 9% interest for this house. That payment would be bonkers. Makes me feel warm and fuzzy, but the reality is that the house I don't think would sell for anywhere near that in a real market, but what do I know. this area is still selling like crazy even at the higher rates. A house in the neighborhood just sold for 2.7 mil.
Goddamn. Indiana isn't that money hungry, they do annual assessments and the assessment increase is always lower than the actual appreciation of the property. I know the assessed values themselves are always lower than market value (at least here they are), but i'm talking rate of increase. Ex if your house is worth 8% more YOY your assessed value might go up 4-5% at the absolute most, with the only exception being if the house changed hands and they have a transaction price to base the new value off of.
