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An anecdote from the housing bubble - we bought a house in Fairfax in October last year for $265K, on a third acre lot, four bedrooms, about 3000 sq. ft., built in 1975, in very good condition, nice neighborhood. Yesterday someone a block up the street advertised an open house, so we went, just out of curiosity. The house is on a quarter acre lot, built the same year, smaller house, recently remodeled with new appliances, refinished floors, new paint, asking $415K. That's 46% more than we paid seven months ago for a smaller house. That's a lot of money for a new stove and refrigerator. I doubt he'll get it, though. |
