Wordless Wednesday-My How Times Have Changed in Real Estate

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Real Estate Agent with Integrity Real Estate Group

Deposit Receipt for 1955 Home Purchase

 

While sorting through some family paperwork I came across this receipt for a credit report and FHA appraisal from my parents first and only home purchase in Springfield VA in 1955.   Wouldn't our buyers today be happy with an FHA appraisal fee of $20.00? 

If you are thinking about buying a home now in Springfield VA or anywhere in Northern Virginia give me a call.  Though home prices aren't what they were in 1955 there are still some great deals available and a month left before the tax credit expires.

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                                   Real People*Real Lives*Real Estate

If you are interested in learning more about the Northern Virginia Real Estate market including Alexandria, Arlington, Fairfax and Prince William Counties give Cindy Jones and Integrity Real Estate Group a call at 703-346-2213.

Military Relocation Specialist serving military families relocating to and from the Pentagon, Fort Belvoir, Quantico MCB and all of the Military District of Washington installations. 

Military Relocation Professional


Check out www.varealestatetalk.com and www.cjrealtygroup.com for more information.

Integrity Real Estate Group
 
Real People*Real Life*Real Estate

Licensed in the Commonwealth of Virginia



 

 

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Karen Fiddler, Broker/Owner
Karen Parsons-Fiddler, Broker 949-510-2395 - Mission Viejo, CA
Orange County & Lake Arrowhead, CA (949)510-2395

Isn't this crazy? It really wasn't all that long ago.I can't believe the amount of paper we had to push around.

Mar 31, 2010 12:53 PM #1
Rainer
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Dennis Duvernay Broker/Owner
Hillview Realty - Northbridge, MA

Yes times have certainly changed....In 1976 I paid 32,000 for my 1st home...in 2004 I bought a car that had a sticker of 32,500....yikes

Mar 31, 2010 12:54 PM #2
Rainmaker
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Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Cindy

Times have changed.

Good luck and success.

Lou Ludwig

Mar 31, 2010 01:16 PM #3
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Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

Cindy:  Twenty dollars probably felt like  fortune back then.  I remember my Mom telling me stories about when she and Dad bought their home. Cost $25,000 and it was a HUGE deal.  So much money.  Can you imagine?

Mar 31, 2010 01:43 PM #4
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Kay Van Kampen
RE/MAX Broker, RE/MAX - Springfield, MO
Realtor®, Springfield Mo Real Estate

My what $20 could buy back them.  Remember when you bought your first home?  I do.  Paid $32,000 for it.

Mar 31, 2010 03:19 PM #5
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Melinda (Mel) Peterson
Real Estate Cafe LLC - Bend, OR
Curator of Happy Endings

Very interesting Cindy!  I think my dad told me he paid six thousand dollars for his first home :)

Mar 31, 2010 03:27 PM #6
Rainer
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Megan Izdebska & Hanna Manoufar Chandler, Scottsdale Real Estate Agent
United Brokers Group - Chandler, AZ
Double Commitment. Double Results.

We are on the right track to get home prices down on the level in 1955 , not so much for the appraisal  ...and other fees.

Mar 31, 2010 04:14 PM #7
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Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

Karen-a simple handwritten receipt was all it took.  Their contract to purchase the home was one page also handwritten.  This weekend I had to print out 13 offers on properties each at a minimimum of 25 pages. 

Dennis-my mom said her last car payment was higher than her mortgage payment ever was. 

Lou-thank you.

Mar 31, 2010 10:52 PM #8
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Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

Chris Ann-my folks paid $22,500 for their Springfleld split level.  I sold it for $400K in 2004 and my mom was shocked that the house was worth so much money.

Kay-my first house in Kings Park a neighborhood in Springfield (VA) was $117K.  Today that house has come down in price to around $375K. 

Mar 31, 2010 10:54 PM #9
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Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

Melinda-I'm not sure there were many homes in our area that ever sold for 6K but it is amazing how the fees associated with buying a home have skyrocketed.

Megan & Hanna-our prices won't go back down to the 1955 prices, at least I don't think so.  You would think automation would bring the prices of the other services down though :-)

Mar 31, 2010 10:56 PM #10
Rainmaker
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Jackie Connelly-Fornuff
Douglas Elliman Real Estate in Babylon NY - Babylon, NY
"Moving at The Speed of YOU!"

It's amazing how times have changed. My parents paid $25k for their home and about $1K for a brand new Pontiac.

Mar 31, 2010 11:38 PM #11
Rainmaker
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Jen Anderson
Exit By the Bay Realty - Chesapeake Beach, MD

Cindy, that is neat that you found that receipt.  $20 seems so inexpensive, but back then I am sure it felt like a lot!

Apr 01, 2010 02:28 AM #12
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Carra & Shae Riley
Brokers Guild Cherry Creek Ltd - Westminster, CO
Helping people Transition at all ages!

Cindy....My how times have changed!   Seems hard to imagine $20 appraisals.

cosmic cow

Apr 03, 2010 04:17 AM #13
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Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

Jackie-my folks had to struggle to come up with the $1000 downpayment just as families today have to struggle to come up with the 3.5% FHA downpayment.  Of course their house payment was $98.50 a month versus today's payments in the thousands.

Jen-I have the entire contract for purchase and the paid off deed too.

Carra-this was new construction as my parents were the second sale in the new neighborhood that was being built in the little area outside of DC known as Springfield VA.

Apr 04, 2010 12:59 AM #14
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Anne Clark
Metro Referrals - Gainesville, VA

Twenty dollars?  That's just amazing.  Just goes to show what 50+ years can do to the price of things.  Just unbelievable.

Jul 20, 2010 11:26 AM #18
Rainmaker
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Debi Braulik
www.roundrealestate.com - Maple Valley, WA
Selling Maple Valley to Fife WA Homes For Sale

What a neat find!  My parents paid $16,000 for the house I grew up in. They lived there 35 years. Oh how I wish I could buy a 1600 square foot rambler on a 1/4 acre for $16,000 today!! 

Aug 19, 2010 11:37 AM #19
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Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

Anne-I have all of the paperwork from when they bought their house.  They held on to every receipt!

Aug 19, 2010 01:32 PM #20
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Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

Debi-my folks went out on a limb and spent $22,500 for their only home.  The family owned it until 2004.  It was a solid brick split level with plaster walls.  Construction you don't see today in local subdivisions.

Aug 19, 2010 01:33 PM #21
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Margaret Woda
Long & Foster Real Estate, Inc. - Crofton, MD
Maryland Real Estate & Military Relocation

Old post, but I just came across it.  I remember when homes sold for that, including those in Bowie.

Sep 28, 2010 02:26 PM #22
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Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

Margaret-it is amazing to realize how simple the home buying process was for our parents.  At least the paperwork.  I remember my mom telling me they had to borrow $500 from her parents to have all the money for the downpayment.  She gave my son $5000 to help him buy his first home :-)

Sep 29, 2010 12:39 AM #23
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