US house prices-Location, location, location!

The same house in different areas can vary from around $113,000 to around $2,125,000 for a 4 bedroom, 2,200 square foot, 2 and a half bathroom house. Amazing!

http://finance.yahoo.com/real-estate/article/107816/same-4-bedroom-house-wildly-different-prices.html;_ylt=AmZd3eHghxoAXal9uc8vmGdO7sMF;_ylu=X3oDMTE5MjNyY2IzBHBvcwMyBHNlYwN3ZWVrZW5kRWRpdGlvbgRzbGsDd2hhdGE0LWJlZHJv?mod=realestate-buy

Message Edited by JK98 on 09-27-2009 02:26 PM

@jk98 wrote:

The same house in different areas can vary from around $113,000 to around $2,125,000 for a 4 bedroom, 2,200 square foot, 2 and a half bathroom house. Amazing!

 

http://finance.yahoo.com/real-estate...realestate-buy

Try looking in California . . . even though the market is down and the home values have dropped anywhere from 10 - 50% (that’s right, I said 50%!), that same house would be listed for $7 - 800,000 here in the SF Bay Area. And they would get it! Before the bottom dropped out and all the foreclosures hit the market, that same home would have been valued at approx. a million dollars (or more) depending on . . . yep, you guessed it . . . location. :wink:

Everyone knows that location is important, but a factor of 19? Many people might think that location might affect price by up to a factor of 3.