Housing prices fall, yet my property tax continues to skyrocket.
Prices haven’t gone down that much around here. Fantasy reigns in some people’s view of the world.
I feel sorry for people who are desperately trying to sell their homes.
Add to the drop in house prices the 3.8% tax on “unearned income” hidden in Obamacare that will apply to the full selling price of the home and home owners will have even less equity when they sell. We all may soon be getting our housing assignments from the federal Ministry of Housing just like in the old Soviet Union.
I have a buyer with a pending offer of $265,000 (house listed for $300,000-seller paid $365,000). well, appraisal came in today at $250,000. Prices continuing to drop...so we’re forced back into the negotiating process. Can’t close anyway since FEMA extension hasn’t been approved by the Senate yet (house in flood zone)...they are way too busy with Kagan; then congress recesses after tomorrow. Getting harder and harder to make a living as a Realtor.
I heard they extended the house purchase credit again.
Wonder what land prices have been doing? I’ve been thinking of buying land, building on it later.