How Much things cost in 1961
Yearly Inflation Rate USA 1.07%
Average Cost of new house $12,500.00
Average Income per year $5,315.00
Cost of a gallon of Gas 27 cents
Average Cost of a new car $2,850.00
Bacon for 1LB 67 cents
Eggs per dozen 30 cents
I sure would like to go back to 00.27 a gallon gas and have the average house sell for 12,500.00 but I sure would hate to think of the average salary being 5,315.00. At that time most families had one person working outside the home. How did they ever make it.
My prayers are with you and family for passing of a good man, that was a husband, father, grandfather and someones friend.
And on why it cost more as other agents will say inflation the first formost thing, and the other big thing is what you've hear location, location, location. And since you spent all years growing up in the neighborhood and area, you've seen changes and land marks you once used to remember where to turn and now it's gone.
I myself scratch my head about the same thing for the past 17yrs, I been caring for my grandmother so she stay in her home. where she's raised 3kids and had 2 great husbands and they have all passed way.
And when grandparents bought there home in timbergrove manor and paid 12,000, and now this houses and all others in this small neighborhood. and now homes are selling for 205k to 250k and then the house is torn down and there building houses on lots that could resell at 500k and up.
And as said the location and area are the keys to areas that are more valuable than another area or neighborhood. One my pass client I had had grown-up in the older heights neighborhood that his parents had paid 10k for there home long ago, and when his parents passed away15yrs ago it was hard decicision because of the past and memories of childhood home. and had to sell because he was living other state and and job family.
And couple year later he's called me to send him homes in the area he grew up in and when
I sent him the list from the neighborhood that were for sale, and he was totaly blown away from how much house were selling for and the cost for a lot in the neighborhood. and he was wishing he'd never sold the home.
One thing you might think about if you decide not to sell the house call realtor or give me call 832-656-0338 and we can see what homes are renting for in the neighborhood or area. and if you can afford to do and repairs and painting.
And then just keep the house and rent it out and this would be a investment and the value will only over time increase and I know most people do not want to have to deal with getting paid and finding the right renter. A good realtor can help you.
Stephen A. Steele
832-656-0338 24/7 and can txt me too.
RSG-Realty Star Group,LLC
Sorry to hear about your father. You will always have good memories of this childhood home.
The simple reason the home is worth much more than $11,000 is 2 fold. 1) Inflation and EVERYTHING cost more today and more importantly 2) the value of the land is much higher today. Many homes sell for much more than they did 50 years ago. Not uncommon for a buyer to purchase a property and a high sales price and immediately knock down the old home to build a new one. The land was the key as they can't find any vacant land to build a new home on.
Let us know if we can assist you.
Times change and so does the value of real estate...If the land is desirable, the increase in value will be even greater.
Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors