appreciation over 27 years

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appreciation over 27 years

Postby mking » Mon Apr 05, 2010 2:59 pm

i believe Case Schiller estimates appreciation to be about 4% annually.

i am thinking of putting an offer on a home that was built 27 years ago. based on the original purchase price and the current price, the annualized appreciation is about 6.5% over the entire 27 year period. the asking price is about 10% over 2000 pricing.

anyone care to comment how reasonable that price is, or how close to the "bottom" that price might be. does anyone think the "bottom" is going to drop below 4% annualized appreciation?

ideally, we might have waited another year to 18 months, but the house we rented (for the last 3 years) is in default and we will likey need to move, and i dont want to move now and then again in 12-18 months just to save a few percent.

this is a bank owended property, and is priced pretty agressively.
thanks for your thoughts.
mking
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