My grandparents paid less than $50,000 for a Seal
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10/12/2006
My dad and uncle were born and raised in Seal Beach; my grandparents bought their family home back in 1963 (when my dad was 12) for about $50K. 3 bedroom, 2 bath, garage, yard, family room, in a nice quiet neighborhood. Although the home lacked an ocean view, a 10 minute walk was all it took to step into the ocean. My grandparents lived in that home throughout my childhood; I remember the big party they threw in 1983, when I was 10 years old, after they made their final house payment! That home was finally paid for; I remember my grandmother telling me that their mortgage payment was $66 a month! Considering the fact I knew my parents were paying about $550 a month at that time for the dump we lived in outside of San Bernardino, I was amazed! At that time, my uncle and his girlfriend were renting a small apartment in Seal Beach for $650 a month, and that was a "bargain", even for 1983! My grandparents sold that same house when I was 16; this was 1989, and they got (GET THIS!) over half a million dollars for it! My grandmother said back then that the place was turning into a haven for Yuppies; the only thing saving the neighborhood from being demolished to make way for condos was the lack of view! The last time I drove by the childhood home of my father, I noticed that the house and the street it occupied didn't look much different than it did when my family left it, but the town itself was another world! The Glider Inn Restaurant, local tradition and personal family favorite, was long gone, as well as other elements that made Seal Beach unique. My grandmother refuses to return; tears come to her eyes when she hears of what time and greed have done to the place. Family member often wonder what the FMV price would be for that house today; this website states that the median home price is $862,500. If a home sold in 1989 for almost 500,000, what would it sell for today? I'm sure it could list in the high $800's; a million if it had the view! And people will pay for it! I would, if it were possible! Being that close to Long Beach with such a low crime rate is reason enough to live there.
icequeen | San Jose, CA