36 Years in the Life and Price of One House!

Going to take a look at what ONE property did in its life in the city of Lake Forest CA! It was built in Dec, 1972 and the first family moved in the next March. The price new was $27,300. It didn't have anything fancy, was the basic 3 bedroom 2 bath 2 story house with 1545 sq ft. It had Formica counters, a dishwasher, 2 car garage, end of a cul-de-sac, fireplace, roof was asphalt shingles and linoleum flooring. Carpet was extra, which was the only upgrade the new owners paid for. The owners kept this property till 1984 and did some changes to the property.
In 1975 the owners put in a pool and added on a family room, costing them about $10,000. Other than that they didn't do much to the property.
Now let's go forward to March 2009 a total of 36 years later. This house was an REO and sold for $405,000. The things that had changed were for the worst. Same cabinets, same counters, no stove, no dishwasher, hadn't been improved at all and it showed it's age. It had a hard life!
The surprise is what course the pricing of this house has gone though! These are the years that I know it was sold or for sale. In between these sales the price did go up and down but it always has recoved
1973 - $27,300
1984 - $125,000
1994 - $178,500
2001 - $310,000
2006 - $670,000 totaled out here
2007 - $540,000 short sale didn't go thought
2008 - $405,000 REO sale
How do I know so much about this house because I was the first owner and being in real estate, I have watched it over the years. It was sad to see the condition it was in, during the beginning of 2008 and remembering what it was like raising my sons in that house. I hope that the new owners will enjoy it and bring it back once again to a home!
Take a good look at what happened to the price from 1973 to 1984. It went up more than 4X the original price in only 11 years. Comparing it to the climb we had 2001 to 2006 it was much bigger then, than now in percentage of change..