price per sq footage

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tulip_IHB

tulip_IHB

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What price is consider "affordable" per square footage? $ 200 in OC? or $ 250?



We saw HGTV show and houses in Newman, George was going for $ 75 per sq foot. $ 75???!!!!!!!!
 
My parents bought a 2,100 sq ft home in Huntington Harbor in 1992 for $410,000 ~$195/sq ft. A lot has changed since 1992. Not only have home prices have definitely jumped, the OC population has boomed, but also the idea of buying a house as large as one can afford is no longer the rule to follow. I've noticed large homes are typically a better deal $/sq ft. So I think it's a subjective depending on what your needs will be for a home. I would not want to pay more than $300/sq ft in OC...but I'm frugal, borderline cheap.
 
I bought my 1050 sq ft condo in April 2002 for $228 sq ft. In July of 2006, another unit like mine sold for $550 sq ft. Other units are now on the market around $350 sq ft.

I guess you could say, timing is everything.
 
That's exactly what bugs me about the current pricing. On a national level, we've rolled back to 2001 pricing or even further. However, in the higher-end OC, prices still don't seem like they are regressing to the same extent. This condo is still "comped" at a 65% premium over 2002 pricing.



What happened to "bubble markets will have the largest declines"? Excluding Santa Ana and other lower-end markets, you still see sellers listing their properties at rediculous prices. It's your turn SFR's... No more 1,700 sq ft. homes with no yard or view for $700,000.
 
[quote author="CougBear" date=1238109695]That's exactly what bugs me about the current pricing. On a national level, we've rolled back to 2001 pricing or even further. However, in the higher-end OC, prices still don't seem like they are regressing to the same extent. </blockquote>


<img src="http://i178.photobucket.com/albums/w244/Lycan1987/patience_small.jpg" alt="" />
 
Just like No_Vas stated...be patient. I don't know why some of you people are so anxious about wanting home prices to come down in the blink of an eye. Didn't it take a number of years for home prices to skyrocket? Well, it'll take them years to get back to the norm.
 
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