Real Estate Relativity

I received an thought provoking email yesterday from Tallahassee Realtor Jay Novak. The message made me wonder if there was a current real estate relativity index, which might reflect long-term values of common assets when compared to real estate. For example, how has a 2000 Rolls-Royce Corniche Convertible fared financially when compared to a home in the Tallahassee real estate market?

Rolls Royce Values Versus Real Estate Values [Image]

When the 2000 Rolls-Royce Corniche Convertible hit the market, only 374 were built and they sold for $359,900. Nowadays, you can find them selling for merely 1/3rd of that on Ebay, with a recent listing for one with only 24K miles and an asking price of $109,000.

Real Estate Relativity Index

2047 Chimney Swift HollowUsing the automotive example from above, could you imagine the home on the left (which sold for $350,000 in 2000) being put on the market today for $109,000? You wish! (unless of course, you own it).

The fact is this estate home just sold for $775,000 two months ago. The buyer paid cash. Based upon this one quick piece of anecdotal evidence, one could argue that buying a home in 2000 was a whole lot wiser than buying a Rolls Royce. Of course, I'm not so sure the purchaser of the Rolls was that concerned about appreciation.

There is another way to view real estate relativity. What if we compared homes that are currently for sale in Tallahassee with current car prices? We could then determine what we felt was a better value!

Homes For Sale In Tallahassee

Which would you rather have? The home on the left, or the car on the right?

$

75,000

Excellent Condo / Rental 1964 GTO Classic Muscle Car Convertible
Tallahassee Short Sale

$

45,000

Land & Fixer Upper Used 2010 SUV
Home for sale in Tallahassee Cadillac SUV costs the same as a townhouse

$

25,000

2 BR / 1 BA Single Family Home Used 2009 Chevy Truck
1225 Gibbs Drive Tallahassee Florida 32303 Used 2009 Chevy Truck

I don't know about you, but I think that real estate prices are starting to hit levels that are going to excite the market. Ultimately, financial wealth is a relative term, and the real estate relativity index seems to support the return of the housing market. So, did anybody pick an auto? If so, I pulled those pictures from Ebay, go get 'em!

Happy Birthday Mike Manausa

Today is my OLDER brother's 47th Birthday. Wish him a happy birthday please if you see him!

Please Do Us A Small Favor

We work very hard to produce daily content for our long-time readers and first-time visitors. We provide this information for free, hoping to earn your respect and trust and the right to one-day help you when selling or buying a home. Can we get your help spreading the word about our blog?

If you like the content, would you please like it or share it using the Facebook button at the beginning of the post? This simple action will be greatly appreciated! THANK YOU!

Please Like Us And Share On Facebook - Help us grow our brand!

Also like us on Facebook at https://www.facebook.com/joemanausarealestate/

Your Local Expert In Tallahassee

When moving to, in, or from Tallahassee, you will fare better if you work with a local expert. We are here to help. If you have further questions on the Tallahassee real estate market, you can leave a comment below, give us a call at (850) 366-8917, or drop us a note and we'll give you the local information needed to ensure a successful, smooth transaction.

As a local born and raised in Tallahassee with a focus on customer service, I promise you'll find great success when working with Joe Manausa Real Estate, just as have our past customers. You can read thousands of their reviews reported on Google, Facebook and Zillow right here: Real Estate Agent Reviews Tallahassee.

The digital marketing guide for small businessesHave you heard about my new book "The Business of Getting Business?" It's a comprehensive guide for small businesses to help them make the move to digital. For those of us who want to survive and thrive in a world where large corporations are taking over, it is a must-read. It's also the perfect guide for how to sell a home in the digital age. You can find The Business Of Getting Business from each of the trusted retailers below.

Real Estate Agent reveals in Tallahassee, Florida

Think all REALTORS are alike?

Read what people are saying about working with Joe Manausa Real Estate! You can see thousands of real customer reviews reported on Google, Facebook and Zillow at this link: CLICK HERE FOR REAL ESTATE AGENT REVIEWS.

Post a Comment

(850) 378-5727