Sunday, May 16, 2010

Real estate vulture

After lunch, my husband took the kids for shaved ice and playgrounds while I did another tour of the historic neighborhood near downtown on foot. I walked 16 blocks one way and then looped and zigzagged back to where I started, so I walked about 32 blocks in 85 minutes. I didn't manage to cover the whole neighborhood, which has a lot of odd curvy streets, even though it was laid out in the 1920s. Some notes:
  • There are many mansions in the neighborhood for $350k and up and there are low-end homes on the fringe in the low $100s, but up to now, the standard price for a basic house in a solid location has been $240k. However, we are beginning to see listings (even if very briefly) for nice homes in the upper $100s. There was a large 1950s home for $162k, a 1920s cottage for $165k, a 1920s cottage for $190k, and a 1950s home has just come on the market for $195k. We want to do a 15-year mortgage, so I would be happiest paying $150k or less to keep the mortgage payments under control, but we'll take what we can get.
  • There aren't nearly enough sidewalks.
  • I'd still prefer the other faculty neighborhood near campus, but the historic neighborhood is a pretty convenient commute to both school and the college.

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