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selling a house in this economy
shardian:
Yeah, california prices as bloated as a dead dear on the side of the road after a week in the summer heat.
Alot of people out there genuinely got screwed. Of course, they should have stuck to the age old "30% of your income" policy of homebuying.
Around here, there have been some foreclosures, but they are mostly home flippers or people who had no business buying in the first place.
bishmasterb:
--- Quote from: WunderCade on August 26, 2008, 02:39:05 pm ---It is? Where are you living? Here in California, we have entire new subdivisions that are ghost towns. Never-sold McMansions with dead orange shrubbery, and yellow lawns. My home, went from being worth 320,000 in 2005 to 130,000 today. You could buy a brandnew 2880 sq ft home with the works here for around 210,000. Homes here have lost damn near 50% of value from 2 years ago. If you're in the market to buy a home around here, most realtors will show you foreclosures all day long.
--- End quote ---
Where do you live? I'm just curious where a large new home can be had for $210K in CA. Thanks.
Cakemeister:
It's a buyer's market. I just made an offer on a foreclosure house to either rent out or refurbish/flip.
In the next couple of years while the housing market is still depressed I hope to buy enough rental properties to live off of when I retire in 15 years.
mameotron:
--- Quote from: ChadTower on August 26, 2008, 02:48:22 pm ---I think it's different pretty much everywhere. Few places were anywhere near as inflated as CA.
--- End quote ---
I just heard on the news tonight that house values fell 4 1/2% in Michigan over the past year. Where I live in Ohio they fell by only .6%. Not too bad for us, the house we bought as a foreclosure 3 years ago is still worth 20k more than we paid.
danny_galaga:
sounds to me like you should keep your gear if yuo have nightmares about it being dumped.
good that you are still ahead too. amazing how much prices are going down over there. we were lucky. house was exactly 200k in 2001. last appraisal had it at 540k (",)
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