Posted on 04/20/2007 6:27:01 AM PDT by RexTheRunt
No. Very poor guess on your part. Don’t bother to play the lottery this week.
I know people divorcing want to just get the H away from each other, but IF they could have put their differences aside and lived as roomates, staying in the house awhile and trying to sell it themselves instead of through an agent, they would have saved a BUNDLE.
Doing some quick math in my head, the house that he is trying to sell for $715,000 is worth about $200,000 in economic value. If you stretch, and really want the structure or location for personal use, you could say up to $240,000. Beyond that, you are a fool to buy.
How true. Divorces have always cost people financially. And selling homes quickly after buying them has almost always been money losers because of commissions and other costs. The story here is that things have returned to the norm.
California’s inflated real estate prices are obvious to everybody. I grew up there, owned homes and rental properties in Sacramento and three other states. There is only one word to describe Californicated housing today: “Insane.”
Orange County homebuyers are clearly taking a wait-and-see-approach. Excerpts: Here are the results from 1,092 votes cast in what's an unscientific sample of public sentiment:
* 5.6 percent: Any day soon
* 4.9 percent: Later in 2007
* 9.3 percent: Early in 2008
* 17.9 percent: Late in 2008
* 62.3 percent: 2009 or later
Reader Comments
"Until the market returns to norms supported by underlying fundamentals we are in for stagnation."
"When TIME magazine runs a headline stating 'Real estate is dead!' run – don't walk – to the nearest real estate office."
"It's a different ballgame when you're buying a home or condo as a place to live as opposed to a 'I'm going to make $150,000 in two years!' plan."
"Buying with vigor will return when prices come down. Pretty simple really."
People have finally awakened to reality. The Great American Dream was turned into a nightmare by crooked real estate and mortgage professionals.
Want to learn more?
Actually, it appears to be a lot of African immigrants in the D.C. area who make up the cabby population.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.