Posted on 05/27/2008 5:53:53 AM PDT by GQuagmire
Massachusetts home prices had their biggest monthly drop in two decades in April, the Warren Group reported today.
(Excerpt) Read more at boston.com ...
I thought that the liberals told us that if they reformed healthcare in Massachusetts, businesses would flock to their state in order to take advantage of their wonderful healthcare system.
When nobody lives in MA any more, houses will be free.........
well, what happened does start with an f and end in ck.........
I was up in NH during the last housing bust and I knew a lot of people who saw dramatic drops in their home values, some over 50%. We were lucky enough to buy while the prices were still rising but not going crazy, so while the value of our home rose $25,000 between the time we committed and the time we closed, when we sold it 14 years later it was for that same $25,000 difference.
And all who keep voting in my beloved Swimmerman and Cary will be dispersed into the other 56 states, like cells from a metastatic blastoma.
How soon will the idiots in charge of Mass. start agitating to raise the property/income taxes “for the children”?
(or will they even bother to drop the valuations of the homes property tax-wise?)
Actually these falling prices are a positive sign, unless of course you are selling. The biggest reason for the length of this downturn is the sellers unwillingness to face reality and lower the sale price of their home to meet market conditions. When this finally happens, and rest assured it wt will happen, the number of homes on the market will drop due to buyers finally pulling the trigger. When this happens the price of remaining homes will first stabilize and then begin to creep upward (supply demand equation) as we begin yet another cycle in this particular segment.
Only 12% Be thankful. We live in Michigan where there has been a 26% decline.
(or will they even bother to drop the valuations of the homes property tax-wise?)
No they won’t.
Cities cannot raise property taxes by more than 2.5 percent per year. However, they can hold elections to override restrictions to fund projects “for the children”. 98% of successful overrides are in “beautiful people” towns where the income and property value are high(and also full of moonbats)
Do you have figures on the decline in that city alone?
The best I get where I live is “no change” in valuation and a couple of ballot issues that raised my property taxes anyway.
It appears to me is that the market is in an adjustment period, moving from obviously inflated values, moving back to actual or realistic values. Certainly those who bought at the inflated prices are going to be hurt.
Do you want to blame someone?? not the government this time - try the aggressive real estate companies and their lap dogs - appraisers and assessors.
No but let me look. I work at 9 mile. I can see the decline from here. LOL
I think they said the national average was 14.1% decline in home values in the first quarter. But there was a 3.2% increase in new home sales.
I finally closed on our new home in Mt Dora florida last Friday.
The base price the builder is asking for our particular model has gone up from $245,990 to $289,000 according to something I read at the sales office Friday.
We knew we were getting a great price when we first sighed the contract since the same house was going for over $300,000.00 at another of the builders locations.
Sales for our builder are going fairly well in Florida and very well at our new subdivision in particular.
Last I knew MA was fixin’ to lose a couple of House seats after the next census. People and jobs are bugging outta MA the same way they are Upstate NY. Gee, that couldn’t have any effect on home prices, could it?
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