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“When Todd and Marisa Bluth bought a $188,000 starter house in Commerce City, Colorado in 2012, they figured it would take at least a decade to build enough equity and savings to trade up to their dream home.
Yet just four years later, they sold the 1,600-square foot unit for $284,000, allowing them to take their nearly $100,000 profit and buy a five-bedroom nearly three times the size for what seemed like a steal — $375,000 — in a more upscale neighborhood.
“I never thought the house would appreciate so quickly,” Todd, 34, says. “We played the market against itself.”
Since the U.S. housing recovery began in 2012, affordable homes in modest neighborhoods have notched the sharpest price increases while luxury houses in wealthy neighborhoods have had the smallest percentage gains. In other words, on average, the lower the home-price tier, the more dramatic the price increase, with mid-range homes appreciating moderately.”
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