$1.65M in Oxford, Mississippi—overpriced?

[Anonymous]

Anonymous wrote:https://www.zillow.com/homedetails/1306-S-Lamar-Blvd-Oxford-MS-38655/223977382_zpid/

I would think that’d get you a mansion there.

No way.

[Anonymous]

I graduated from Ole Miss in 2008 and my junior and senior year, we lived in a new build in a new development that was walking distance to campus and the football stadium. I believe my friend’s parents paid $890 for it back then. There’s a TON of money there.

[Anonymous]

I’ve said this before on this and the financial forum — the folks in DC who think they’re going to retire to an adorable cheap house in some charming, walkable small town in flyover country on the equity from their home in DC are in for a shock. The charming, walkable towns are out there, but nice houses in good locations are NOT cheap, no matter where they are.

We moved to a very small town in the South that most of you have probably never heard of & live in a walkable neighborhood just a couple of blocks to downtown. The 2,300 sq ft house across the street from us just on the first day it was listed for $1.4 million. It is a charming house, but it needed work, and the new owners ripped out the kitchen the first week they were there. There are $500,000 houses here, but they’re small, cheaply built & on tiny lots in cookie cutter developments on the outskirts of town. The well built houses on big lots on the outskirts of town are $800 to a million.

People are still moving here in droves. The population shift to the South is real.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP here. This one is $1.85M https://www.zillow.com/homedetails/916-Old-Taylor-Rd-Oxford-MS-38655/2076800437_zpid/

Shocking

Agree, but the quality of life in the South is much better than in most of the US. Those who criticize the South have probably never lived there.

+1

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Agree, but the quality of life in the South is much better than in most of the US. Those who criticize the South have probably never lived there.

Amen. Grew up in the South and miss it each and every day!

In what way?

NP here. Camellias just started blooming.

[Anonymous]

Welp, I will just show myself back over to the Dallas thread.

$1.6 million to live next to Ole Miss? Yuck. No thank you.

[Anonymous]

Anonymous wrote:I’ve said this before on this and the financial forum — the folks in DC who think they’re going to retire to an adorable cheap house in some charming, walkable small town in flyover country on the equity from their home in DC are in for a shock. The charming, walkable towns are out there, but nice houses in good locations are NOT cheap, no matter where they are.

We moved to a very small town in the South that most of you have probably never heard of & live in a walkable neighborhood just a couple of blocks to downtown. The 2,300 sq ft house across the street from us just on the first day it was listed for $1.4 million. It is a charming house, but it needed work, and the new owners ripped out the kitchen the first week they were there. There are $500,000 houses here, but they’re small, cheaply built & on tiny lots in cookie cutter developments on the outskirts of town. The well built houses on big lots on the outskirts of town are $800 to a million.

People are still moving here in droves. The population shift to the South is real.

Part of the appeal of the South is that you get to make up your own facts.

https://news.olemiss.edu/um-experts-warn-about-consequences-of-population-loss/

[Anonymous]

Quality of life is great in the south but that’s a lot of money for a pretty rural place…. Must be a story.

[Anonymous]

Anonymous wrote:OP here. This one is $1.85M https://www.zillow.com/homedetails/916-Old-Taylor-Rd-Oxford-MS-38655/2076800437_zpid/

Shocking

Home of William Faulkner!?

Lots of land

[Anonymous]

I wouldn’t live in Mississippi if you paid me $1.6m.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I’ve said this before on this and the financial forum — the folks in DC who think they’re going to retire to an adorable cheap house in some charming, walkable small town in flyover country on the equity from their home in DC are in for a shock. The charming, walkable towns are out there, but nice houses in good locations are NOT cheap, no matter where they are.

We moved to a very small town in the South that most of you have probably never heard of & live in a walkable neighborhood just a couple of blocks to downtown. The 2,300 sq ft house across the street from us just on the first day it was listed for $1.4 million. It is a charming house, but it needed work, and the new owners ripped out the kitchen the first week they were there. There are $500,000 houses here, but they’re small, cheaply built & on tiny lots in cookie cutter developments on the outskirts of town. The well built houses on big lots on the outskirts of town are $800 to a million.

People are still moving here in droves. The population shift to the South is real.

Part of the appeal of the South is that you get to make up your own facts.

https://news.olemiss.edu/um-experts-warn-about-consequences-of-population-loss/

The focus of this thread is on Oxford, Mississippi--a college town.

Oxford is doing well & attracting a lot of out-of-state students. Rentals in college towns tend to be excellent investments.

[Anonymous]

Homebuyers are playing musical chairs. I'd hate to be the one left standing when the music stops.

[Anonymous]

Why is the area so expensive? What is so special about it?

[Anonymous]

. I thought so too, but there’s at least one other house priced similarly, and this house sold for $1.2M in 2019

No, it was listed for $1.2 million in 2019 and then taken off the market after two months.

[Anonymous]

Zillow shows there's only been one "recent" house sale in Oxford for over $1m in the last three years (and that was for a lot more house).