Comments on: Poll: How Has the Value of Your Home Held Up Over the Past Couple Years? http://genxfinance.com/poll-how-has-the-value-of-your-home-held-up-over-the-past-couple-years/ Helping a unique generation achieve financial independence. Thu, 24 May 2012 01:09:21 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Drew http://genxfinance.com/poll-how-has-the-value-of-your-home-held-up-over-the-past-couple-years/comment-page-1/#comment-83723 Drew Thu, 21 Aug 2008 14:39:14 +0000 http://genxfinance.com/2008/08/14/poll-how-has-the-value-of-your-home-held-up-over-the-past-couple-years/#comment-83723 The map looks a bit misleading, in my opinion. If it is trying to show where areas are losing value, it should break the no change and losing value into two separate colors. The map looks a bit misleading, in my opinion. If it is trying to show where areas are losing value, it should break the no change and losing value into two separate colors.

]]> By: Sean http://genxfinance.com/poll-how-has-the-value-of-your-home-held-up-over-the-past-couple-years/comment-page-1/#comment-83323 Sean Mon, 18 Aug 2008 16:55:35 +0000 http://genxfinance.com/2008/08/14/poll-how-has-the-value-of-your-home-held-up-over-the-past-couple-years/#comment-83323 Probably even, or up marginally. Hard to say. The outcomes are more volatile than in 2005. Some houses sell for more than they did a few years ago. Some sell on the first day. But others that start out high or maybe are not fixed up, can sit on the market for a long time. So whether we have an increase or a decrease in my "lightest orange" region might vary among sellers, depending on their situation. Probably even, or up marginally. Hard to say. The outcomes are more volatile than in 2005. Some houses sell for more than they did a few years ago. Some sell on the first day. But others that start out high or maybe are not fixed up, can sit on the market for a long time. So whether we have an increase or a decrease in my “lightest orange” region might vary among sellers, depending on their situation.

]]> By: Amy http://genxfinance.com/poll-how-has-the-value-of-your-home-held-up-over-the-past-couple-years/comment-page-1/#comment-82963 Amy Fri, 15 Aug 2008 16:58:36 +0000 http://genxfinance.com/2008/08/14/poll-how-has-the-value-of-your-home-held-up-over-the-past-couple-years/#comment-82963 I also live in Southwest MI, in the Gull Lake area, and out house value has gone up despite the fact that we purchased right before the bubble burst like you did. I have to admit we got a wonderful deal on the house, during the time we were looking houses like the one we got were about $20,000 out of our price range. I was checking for any houses as they came on the market daily and made an offer on this house within two weeks of it being on the market. Now it's worth about $40,000 more than we paid for it with only minor improvements and some landscaping. I also live in Southwest MI, in the Gull Lake area, and out house value has gone up despite the fact that we purchased right before the bubble burst like you did. I have to admit we got a wonderful deal on the house, during the time we were looking houses like the one we got were about $20,000 out of our price range. I was checking for any houses as they came on the market daily and made an offer on this house within two weeks of it being on the market. Now it’s worth about $40,000 more than we paid for it with only minor improvements and some landscaping.

]]> By: Scott @ The Passive Dad http://genxfinance.com/poll-how-has-the-value-of-your-home-held-up-over-the-past-couple-years/comment-page-1/#comment-82875 Scott @ The Passive Dad Fri, 15 Aug 2008 04:04:12 +0000 http://genxfinance.com/2008/08/14/poll-how-has-the-value-of-your-home-held-up-over-the-past-couple-years/#comment-82875 Home prices are stabilizing in some parts of the San Francisco Bay area, but we continue to see neighborhoods that have short sales and foreclosures. These homes can decimate an area, not just bring down values, but crush them. It can take a few months, but once that short sale or foreclosure gets sold, housing bounces back. We've seen it several times in our neighborhood. Banks just want to unload properties and will take a $50k-$100k in a solid neighborhood. Doesn't make sense, but it's happening. Once that home is gone, prices seem to pick-up again. Right now we have a short sale in our neighborhood and we all want it gone. The realty company doesn't market the house, nor do they put any money fixing easy items like landscaping. Just frustrating! Home prices are stabilizing in some parts of the San Francisco Bay area, but we continue to see neighborhoods that have short sales and foreclosures. These homes can decimate an area, not just bring down values, but crush them. It can take a few months, but once that short sale or foreclosure gets sold, housing bounces back. We’ve seen it several times in our neighborhood. Banks just want to unload properties and will take a $50k-$100k in a solid neighborhood. Doesn’t make sense, but it’s happening. Once that home is gone, prices seem to pick-up again.
Right now we have a short sale in our neighborhood and we all want it gone. The realty company doesn’t market the house, nor do they put any money fixing easy items like landscaping. Just frustrating!

]]> By: Four Pillars http://genxfinance.com/poll-how-has-the-value-of-your-home-held-up-over-the-past-couple-years/comment-page-1/#comment-82857 Four Pillars Fri, 15 Aug 2008 00:18:14 +0000 http://genxfinance.com/2008/08/14/poll-how-has-the-value-of-your-home-held-up-over-the-past-couple-years/#comment-82857 Prices are still going up in Toronto where I live. Prices are still going up in Toronto where I live.

]]> By: jim of Blueprint for Financial Prosperity http://genxfinance.com/poll-how-has-the-value-of-your-home-held-up-over-the-past-couple-years/comment-page-1/#comment-82834 jim of Blueprint for Financial Prosperity Thu, 14 Aug 2008 20:01:07 +0000 http://genxfinance.com/2008/08/14/poll-how-has-the-value-of-your-home-held-up-over-the-past-couple-years/#comment-82834 Our home's value, according to perfunctory research on local RE sites, has kept up with inflation, or a little under, which is OK. The only negative is that we've put in $10k+ in renovations in (new roof, all new windows and sliding doors), so in a sense it's gone down from a total cost perspective. Our home’s value, according to perfunctory research on local RE sites, has kept up with inflation, or a little under, which is OK. The only negative is that we’ve put in $10k+ in renovations in (new roof, all new windows and sliding doors), so in a sense it’s gone down from a total cost perspective.

]]> By: Andy http://genxfinance.com/poll-how-has-the-value-of-your-home-held-up-over-the-past-couple-years/comment-page-1/#comment-82832 Andy Thu, 14 Aug 2008 19:48:41 +0000 http://genxfinance.com/2008/08/14/poll-how-has-the-value-of-your-home-held-up-over-the-past-couple-years/#comment-82832 We paid $125,000 for our home in 2002. In 2006 we were offered $350,000 for it even though it wasn't for sale. We passed. Today it is worth just over $200,000. It's still not for sale, but sometimes I just kick myself for not selling back than. We paid $125,000 for our home in 2002. In 2006 we were offered $350,000 for it even though it wasn’t for sale. We passed. Today it is worth just over $200,000. It’s still not for sale, but sometimes I just kick myself for not selling back than.

]]> By: HF Markets - Online Trading http://genxfinance.com/poll-how-has-the-value-of-your-home-held-up-over-the-past-couple-years/comment-page-1/#comment-82819 HF Markets - Online Trading Thu, 14 Aug 2008 18:22:53 +0000 http://genxfinance.com/2008/08/14/poll-how-has-the-value-of-your-home-held-up-over-the-past-couple-years/#comment-82819 We live in Switzerland and it is odd that the credit cruch seems to have passed us by, for now. The value of our house hasn't moved in the last year... Guess that is beacause most people rent here and buying a house is not really the norm. We live in Switzerland and it is odd that the credit cruch seems to have passed us by, for now. The value of our house hasn’t moved in the last year… Guess that is beacause most people rent here and buying a house is not really the norm.

]]> By: Sara at On Simplicity http://genxfinance.com/poll-how-has-the-value-of-your-home-held-up-over-the-past-couple-years/comment-page-1/#comment-82817 Sara at On Simplicity Thu, 14 Aug 2008 18:15:06 +0000 http://genxfinance.com/2008/08/14/poll-how-has-the-value-of-your-home-held-up-over-the-past-couple-years/#comment-82817 I'm a pink patch in a green state. We're lucky to be holding steady. I wouldn't be surprised if we drop off a bit before things get better. Putting in fantastic landscaping helped; since we did the work ourselves, the value we gained far exceeded the money we put in. I’m a pink patch in a green state. We’re lucky to be holding steady. I wouldn’t be surprised if we drop off a bit before things get better. Putting in fantastic landscaping helped; since we did the work ourselves, the value we gained far exceeded the money we put in.

]]> By: Bill Davis http://genxfinance.com/poll-how-has-the-value-of-your-home-held-up-over-the-past-couple-years/comment-page-1/#comment-82816 Bill Davis Thu, 14 Aug 2008 17:32:35 +0000 http://genxfinance.com/2008/08/14/poll-how-has-the-value-of-your-home-held-up-over-the-past-couple-years/#comment-82816 I thought values had come down to 2004-2005 values in my neighborhood, but I found a house down the street that is going for 25 percent less than what we paid for our house at the end of 2004! It's the same floorplan, but previous owners upgraded the kitchen and added a bathroom. I do believe it's a distress sell (my guess is it's part of a divorce), but it's been on the market several months and still hasn't sold. So, it may have to be marked down another 10 (20?) percent to sell. By the way, we're in the East Bay Area of California, one of the hardest hit areas in the country. Lucky us. We couldn't sell now without taking a huge loss. I guess our 5 year plan will have to be pushed out a few years. I thought values had come down to 2004-2005 values in my neighborhood, but I found a house down the street that is going for 25 percent less than what we paid for our house at the end of 2004! It’s the same floorplan, but previous owners upgraded the kitchen and added a bathroom.

I do believe it’s a distress sell (my guess is it’s part of a divorce), but it’s been on the market several months and still hasn’t sold. So, it may have to be marked down another 10 (20?) percent to sell.

By the way, we’re in the East Bay Area of California, one of the hardest hit areas in the country. Lucky us.

We couldn’t sell now without taking a huge loss. I guess our 5 year plan will have to be pushed out a few years.

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