2007-09-08 08:05:16 · 4 answers · asked by gincothedog 2 in Business & Finance ➔ Renting & Real Estate
it depends. the housing market is at an all time low right now. Foreclosures are all over. so it really depends. i would say it would be about twice as much probably
2007-09-08 08:10:46 · answer #1 · answered by Jhet 2 · 1⤊ 0⤋
That's kinda like asking what the lottery numbers will be for next week. If people truely knew, more people would play. If you take historical data, the home prices have appreciated greater than they have depreciated over the last 30 yrs. I would find out what the 'average' appreciation has been for the area. In Phoenix it's 5-8 %/yr normally except crazy times like now (-10-20%) and 2004-2006 (up to +50% some areas) and calculate it from there.
Good luck!
2007-09-08 15:47:01 · answer #2 · answered by QT777 2 · 0⤊ 0⤋
crystal ball time too many variables to predict that far out! We can't even predict what it will cost to send a kid to college! Will there be a war? will there be a drought? Will there be floods? Will there be earthquakes, Volcanos? You see there are really too many variables to even consider a guess right now. Better to buy wisely and hold while renting to make the mortgage payments then you never have more invested than the initial outlay of cash. See?
2007-09-08 15:26:54 · answer #3 · answered by helprhome 5 · 0⤊ 0⤋
If it grows by 7 percent per year: $773,936
If it grows by 5 percent per year: $530,659
If it grows by 3 percent per year: $361,222
2007-09-08 15:15:00 · answer #4 · answered by hottotrot1_usa 7 · 1⤊ 0⤋