I have seen the same thing. A brand new house ( to be built) is the same price as a house that is 30+ years old. It seems to me that people are just not realizing that houses break down with age. That insulation matters, and that repairs come more with older houses. Older houses have flooring that is worn, pipes taht are old, and are not energy efficient. Then again, some people say that the older houses are built stronger with old growth wood that will take longer to rot away. My theory is people are stupid and will pay the same price not taking age into consideration, but that is just a theory.

Hi Starz1999,
Good question...There is value with older homes as well, it can simply be a matter of taste too. Examples:
established neighborhoods have landscaping done, quality of materials may be noticeably better than new construction or have more architectual appeal, larger lots, no HOA, zoning, uprades may be done, ect...
Homes sell relative to the comparable sales in the area, but it comes down to your unique desires.

Homes sell relative to the comparable sales in the area. Lenders will not fund on overpriced homes.
My suggestion is for you to get qualified for a loan, look for market value properties in your range, and investigate the ones that are considerations (in that order). Any other strategy and you may be wasting your time.

Hi Starz, Some buyer love to look at older homes because they are often built farther apart than new homes so there is excellent privacy when compared to newer homes that are closer together. Some people want to have space for hobbies too. What areas are you looking at that seem too expensive and what is your budget?

Starz1999,

Well I was just in Chicago for 5 days and my cousin has a 3rd floor (no elevator) condo in Wrigleyville that is 2 bedroom. The building is 100 years old it's over $300K. There are only a handful of homes in Simi built before 1950. I really think if you look at the different areas in Southern California you will see that price, age, location and size fluctuates like any other city.

Living in Southern California has it advantages and disadvantages. Good luck in your search!

Starz.... to which area are you referring to...

???