U.S. HOMES.........down nearly 5% in price over past 12 months

Deuce · 05-10-11, 12:58 PM

Back right where they belong. Sorry to all those that purchased in the last 20 years.

Emily_Haines · 05-10-11, 01:01 PM

who cares????????

bin laden is dead

Extra Innings · 05-10-11, 01:08 PM

Originally posted by Deuce

Back right where they belong. Sorry to all those that purchased in the last 20 years.

You are correct. Homes ARE NOT guaranteed investments despite what your grandparents said.

Ninersnut · 05-10-11, 01:10 PM

Just read this earlier today. Keep them houses falling.....I'ma get a steal in 2-3 years

William Walters · 05-10-11, 01:10 PM

Originally posted by Deuce

Back right where they belong. Sorry to all those that purchased in the last 20 years.

I purchased the home I'm currently in 9 years ago and the home, to date, is worth 50% more than I paid for it. Sure, a handful of years ago it was worth more than double what I paid, but still a great investment.

thebestthereis · 05-10-11, 01:10 PM

they can't plummet the government said they have stabilized

HotStreak · 05-10-11, 01:14 PM

Originally posted by William Walters

I purchased the home I'm currently in 9 years ago and the home, to date, is worth 50% more than I paid for it. Sure, a handful of years ago it was worth more than double what I paid, but still a great investment.

Yeah but if you would have refinanced at the point when it was worth more than double what you paid, and took a shit load of equity out to live the high life....... well then you'd be where many are at right now.

Extra Innings · 05-10-11, 01:22 PM

Originally posted by William Walters

I purchased the home I'm currently in 9 years ago and the home, to date, is worth 50% more than I paid for it. Sure, a handful of years ago it was worth more than double what I paid, but still a great investment.

Your case is ATYPICAL my friend...congrats on picking the right one.

William Walters · 05-10-11, 01:28 PM

Originally posted by HotStreak

Yeah but if you would have refinanced at the point when it was worth more than double what you paid, and took a shit load of equity out to live the high life....... well then you'd be where many are at right now.

Well, that would make me a dumbass and I try to not fall into that category (other than when wagering).

William Walters · 05-10-11, 01:29 PM

Originally posted by Extra Innings

Your case is ATYPICAL my friend...congrats on picking the right one.

I'm in South Orange Country, California.......................lots of my neighbors & friends in the area are upside down in their homes. It's all timing.

Extra Innings · 05-10-11, 01:31 PM

Originally posted by William Walters

I'm in South Orange Country, California.......................lots of my neighbors & friends in the area are upside down in their homes. It's all timing.

What are the taxes like

and how much will your home be worth when everybody leaves?

Ninersnut · 05-10-11, 01:31 PM

I couldn't imagine dumping any of my $ into that shitshow of a state....

Not like Jerz is any better tho.

jgray · 05-10-11, 01:33 PM

Originally posted by William Walters

Well, that would make me a dumbass and I try to not fall into that category (other than when wagering).

Right. It would be like taking all of your money out of the bank, blowing it on blow, and then complaining about how your money in the bank wasn't safe. Buy a house within your means, put 20% down, and plan to hold it for a while. Between the tax deductions and the "free rent" you are still way ahead of the game even if property values go down in the short term.

pavyracer · 05-10-11, 01:37 PM

The price is all relative. Unless you are a house flipper it really doesn't affect you much on your daily living activities whether the price of your house fell or risen 5%.

Boner_18 · 05-10-11, 01:44 PM

Using Case-Shiller seasonally adjusted numbers, the national composite, we are back to about 6/2003 or 7/2003 levels.

A house purchased 9 years ago that is worth 50% more IS atypical. Typical for 9 years is 15.6% increase. Still not a terrible investment. As for 20 years, typical is nearly 80% increase in value. Of course these are national averages so there is massive disparity for different local markets, but even Detroit shows a 19% increase over the last 20 years.

Fishhead · 05-10-11, 01:45 PM

Originally posted by pavyracer

The price is all relative. Unless you are a house flipper it really doesn't affect you much on your daily living activities whether the price of your house fell or risen 5%.

It has ramifications sir...............don't be ignorant.

Boner_18 · 05-10-11, 01:51 PM

I think pavy is talking about from an investment perspective and he is right. Of course it has ramifications for people who just bought, or need to access the equity or lever it for credit.

However, a buyer who intends to use the house as his primary residence for the foreseeable future shouldn't concern himself with the daily, monthly or even annual fluctuations in the housing market. At least insofar as it effects his particular investment.

That said, I will not be buying for some time, think these are falling some more...

William Walters · 05-10-11, 01:53 PM

Originally posted by Ninersnut

I couldn't imagine dumping any of my $ into that shitshow of a state....

Not like Jerz is any better tho.

Some people just love to hate.

About 1/3 mile from my home:

Sure sucks living in this "shitshow of a state".

King Mayan · 05-10-11, 01:56 PM

Originally posted by William Walters

I'm in South Orange Country, California.......................lots of my neighbors & friends in the area are upside down in their homes. It's all timing.

Most of the homes in the coastal counties in Cali are in the upside.

William Walters · 05-10-11, 02:01 PM

Originally posted by King Mayan

Most of the homes in the coastal counties in Cali are in the upside.

You are correct King, but that's why timing is everything. I didn't know shit about the housing market when I bought. I found the right home/area that I wanted to live in..........and start a family in............and took a chance. I have no plans to move........none..........so it's really all "funny-money" to me at this point (obviously I'd feel different if I were way upside down in my house).

stevek173 · 05-10-11, 02:25 PM

As someone in the industry I can say that the worst part of my job is breaking it to someone that their appraisal came in at a lower than expected value and that there is no deal. It stinks. At the same time it is a buyer's market so if you can invest it is not a bad time.

Ninersnut · 05-10-11, 03:27 PM

Originally posted by William Walters

Some people just love to hate. About 1/3 mile from my home: Sure sucks living in this "shitshow of a state".

Probably does with almost $5 gas and property taxes that are 2 outrageous to even spell out. Not too mention the bankrupted state and the tsunami zone your living in

William Walters · 05-10-11, 03:38 PM

Originally posted by Ninersnut

Probably does with almost $5 gas and property taxes that are 2 outrageous to even spell out. Not too mention the bankrupted state and the tsunami zone your living in

"tsunami zone"

Fukkin shitsticks around here........dime a dozen.

You keep hating..........I'll keep running on the beach 5 days a week.

mrmarket · 05-10-11, 03:39 PM

Fishhead if home had IOWA CORN growing in back yard would value of it go up? Your thoughts?

onetrickpony · 05-10-11, 03:41 PM

Originally posted by William Walters

I purchased the home I'm currently in 9 years ago and the home, to date, is worth 50% more than I paid for it. Sure, a handful of years ago it was worth more than double what I paid, but still a great investment.

yes double wides are great investments

where do u go when tornadoes hit

d2bets · 05-10-11, 03:42 PM

I purchased my home almost exactly 10 years ago and it is worth roughly 1/3 more than the purchase price now. That's maybe 2.5% increase annualized, but not terrible. For those that bought after about '03 or '04 though, it's rough out there.

Inkwell77 · 05-10-11, 03:45 PM

Keep falling!! Let the kids at least have a chance to make it in this economy

William Walters · 05-10-11, 03:46 PM

Originally posted by onetrickpony

yes double wides are great investments

where do u go when tornadoes hit

I'd worry a little more about your shitters than where I lay my head at night.

VTranX · 05-10-11, 03:50 PM

Originally posted by thebestthereis

they can't plummet the government said they have stabilized

Yeah beleive everthing the government says.

onetrickpony · 05-10-11, 03:52 PM

Originally posted by William Walters

I'd worry a little more about your shitters than where I lay my head at night.

do double wides come with barns

trixtrix · 05-10-11, 04:28 PM

Originally posted by William Walters

I purchased the home I'm currently in 9 years ago and the home, to date, is worth 50% more than I paid for it. Sure, a handful of years ago it was worth more than double what I paid, but still a great investment.

assuming an annual compound interest rate of 5%, 1.05^9= 155%

at 6%, 1.06^9= 169%

your current housing situation seems to indicate it's a little less than that of a 5% 9 year cd