With housing prices still falling in some areas, I thought it would be fun to see how much your money would buy around the country.
How much can you buy for $625,000 in New York City?590 West End Avenue, Apt 6A, New York, NY 10024
There's a lot packed into this one-bedroom, one-bath co-op in 760 square feet. Built in 1914, the unit appears to have some of those nice pre-war (called "vintage" in other parts of the country) details. There is a doorman. Zillow says homes priced up to $15 million have sold nearby. The property is under contract, according to the listing agent's (Carolyn Zweben) website.
How much can you buy for $600,000 in Cincinnati?While home prices have only tumbled maybe 25 to 30 percent in New York City over the past few years, Cincinnati hasn't fared as well. That means, of course, that your dollars go pretty far.
This three bedroom, three full plus two half bath condo at 364 Grand Avenue, Cincinnati, offers 3,300 square feet with "panoramic city, river and valley views." (They are pretty amazing views, if the photos are to be believed.)
Inside, there's a fireplace, gourmet kitchen with cherry cabinets and granite countertops, and bedrooms with extra-tall ceilings.
How much can you buy for $625,000 in Atlanta?Atlanta is my home away from home (I host a popular radio talk show on Sunday mornings on Newstalk 750 WSB), but the metro area has been extremely hard hit by the Great Recession. Unemployment is up, foreclosures are zooming and housing prices have fallen dramatically. In short, it's a great time to be a buyer in Atlanta, whether you're planning to live there or you want to invest.
But if you want to live in hot Midtown, you'll still have to shell out the big bucks.
This 1923, 1,524 square foot bungalow at 891 Vedado Way, NE, Atlanta has just three bedrooms and two and a half baths, but it has been extensively (perhaps too much?) renovated. According to the listing sheet, inside you'll find a cook's kitchen with marble countertops, master suite with travertine-tiled bath and access to a rear deck. Location, location, location: You're steps to great restaurants and shopping (but you'll probably still drive).
What can you buy for $625,000 in Phoenix?Ground zero for foreclosures means you can buy a lot for your money in certain parts of the Phoenix/Scottsdale metro areas. How much? Check out this house at 23429 N. 64th Ave., in Glendale, AZ on an acre of desert.
It has all the amenities, including 6 bedrooms (room for all the inlaws to visit), three full plus a half bath, gourmet kitchen with granite countertops, three fireplaces, mountain views and wide open spaces.
Oh, and then there's the pool.
Which is so fabulous, I just had to include a photo:
What's your favorite price point? And, Realtors, please send me links to your listings with killer basements, other fabulous backyard amenities, and master baths that are to die for.
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Ilyce R. Glink is the author of several books, including 100 Questions Every First-Time Home Buyer Should Ask and Buy, Close, Move In!. She blogs about money and real estate at ThinkGlink.com.