A Bit of Trivia I Had To Share

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Services for Real Estate Pros with Marte Cliff Copywriting

One of the tasks for the new year is always to clean the file folders out of the drawer, put them in the "tax prep spot" and make room for new folders.

Today I got a bit side-tracked from that task when I came across two manila envelopes filled with scrapbook type mementos.

One of those clippings was from the "Looking Back" column in the January 10, 1996 Priest River Times. The entry was from the want ads dated January, 1916:

"For Sale: 100 acre ranch, level, 3 miles from town, 7 acres cleared, house barn and outbuildings. $1,200. Half cash, balance at 6 percent."

If you added 3 more zeros, that might be today's price. That is, unless those other 93 acres were covered in timber. Then it would be a heck of a lot more. But... you might get it for a lower interest rate!

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Rainer
131,370
James Harner
Considering Selling Your Home? Call 610-310-7646 first - Royersford, PA
James Harner Group - Philadelphia PA Real Estate

wow! $1,200! what a price!

surely it was not such a bargain in 1916. Maybe the people were also complaining of the "high" price value!

If property values has risen to such a height, then just imagine how far our money's value had fallen.

Jan 01, 2011 11:11 AM #1
Rainmaker
1,279,027
Donna Foerster
HomeSmart Realty Group - Parker, CO
Metro Denver Real Estate Assistant

Wow!  I think that would have distracted me too!  When I was in my early 20's I worked at a restaurant.  We were given a menu to take home to memorize the prices.  I wish I would have kept that menu.  It wasn't that long ago, but I'm sure prices have doubled.

Jan 01, 2011 11:32 AM #2
Rainer
103,190
Keith Vermilyea
Home Buyers Marketing II, Inc. - Boise, ID

I guess it's all relative isn't it!  Although we are in a tough market now, RE has always been a good investment and will undoubtedly continue to be for those that can hold on to it.

Jan 01, 2011 11:34 AM #3
Rainmaker
272,339
Jim Palmer
Chipola Realty - Chipley Office (850) 638-2777 - Sunny Hills, FL
Washington County, Florida

Fascinating! I can just imagine the buyers looking at that and thinking that the seller was insane to dare ask that much money! And 50% down payment! Seller must think that we are all made of money!

Prices may be different, but the business remains the same.

Jan 01, 2011 01:27 PM #4
Rainmaker
1,543,733
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

James - You're right, $1,200 was a lot of money then. I remember my Grandmother talking about her dad. He was a finish carpenter - the kind that got top wages. And he made $3 a week.

Donna - It would be fun to see that menu. I sometimes keep odds and ends like that, because it's fun to run across them later. Of course, that's why I have so darned much paper!

Keith - You're right. If you can buy and hold, eventually you'll make a lot of money. Or perhaps your kids or grand-kids will!

Jim - 50% down is pretty steep, isn't it? But of course, it was seller financed.

Business does remain much the same, except for all the rules and regultions that seem to pile on more and more every year. When I started real estate in 1985 a listing and a purchase and sale agreement were each one page, with the fine print on the back. And it was fine print - very small and nobody ever bothered to read it. We didn't have disclosure forms, either.

Jan 01, 2011 06:24 PM #5
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Rainmaker
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