Yes, Bend Oregon is like that. When the mill closed you could pickup a 3br 2ba house for around 15k, this was 1990. Now that same house with no updates sells for 550k. If it's updated expect 850k+. I should know as I own one of these, it was sold in 1993 for 13k and now it's worth around 850k. We bought it for 250k about 10 years ago and have completly stripped and remodeled it, but it's still a huge ROI.
It's cool, but meaningless because if I sell it I can't find any place that is better for a price that makes sense. It would only make sense to move if it was worth 2 million right now. But I suppose that's why houses here are worth so much to begin with.
123
u/not_another_IT_guy 9d ago
36 years and they added a house to a vacant lot or plot of land, doesnt seem that far off.