Tuesday, February 24, 2009

Price of Ugly

On Sunday evening Linzy and I went over to our friend's Paul and Laura's house for dinner. We had a good time catching up with them, playing with the kids, and hanging out. One of the major topics of conversation during the course of the night was this house nearby.

You see the house got foreclosed on and is now for sale (MLS listing). The interesting thing is that if you look at the Dakota County information the house was last sold in November 2006 for $732,000, and is now listing for just under $480,000. Ouch.

Depending on what you think the housing market will do over the next few years, that may or may not be a 'good deal', but a 35% price drop certainly made it worthy of some discussion. The house also appears, at least from pictures to be miraculously clean for a foreclosure (though I did notice that the appliances appear to have made their way onto Craigslist).

The thing is, neither Linzy nor I liked the house from the pictures. For one thing the yard, while a premium lot, is much too small. It also sports a stucco exterior, or what I like to call a mold breeding ground in Minnesota. But more importantly, oddly enough, is the fact that I think it is kind of ugly. Specifically the flooring/cabinet combination and the deck on the back of the house (which probably cost a fortune).

Which brought up an interesting discussion about exactly how much money a 'pretty' house was worth, and the difference between a house that just has bad paint/carpet combinations (and is thus 'fixable') and one that has major difficult-to-replace components that are deemed ugly.

In this case, since the house isn't one we could afford anyways, and we aren't seriously thinking about moving, it was a moot point. But I did think it was an interesting discussion.

No comments: