Posted on 01/25/2011 7:15:19 AM PST by Qbert
Headed lower, where are the fools that were saying a year ago that it might be a good time to buy.
The depression is just getting started.
In my CA suburb, so far it looks like the bottom was May 2010, which matched 2003 prices. Price per sq ft has been increasing since then. Could be an anomoly.
We’ve been carrying 2 mortgages since 2008. We had to relocate when my husband changed jobs. Finally sold our house in November. So, so thankful....thankful that we are employed...thankful to be out from under that 2nd mortgage.
They probably bought, rehabbed the property and the sold it at a profit. I know some guys that are still flipping houses and are still making money at it. I have learned that watching the game will get you nowhere.
We’re putting in an offer on a home today. We are getting a screaming deal.
What are you paying per square foot? What is the age of the house?
If you don’t mind..
I live in a school district that was like that. The city school commission fixed that. I can't give my house away, let alone even try to rent it.
$130/sq ft. It is a small house, so the price per sq foot is higher than if it was a large home. House is 20 years old, everything has been replaced/updated within the last 5 years including heating/cooling plant, roof, windows, water heater, master bath with granite tile and heated floor, new concrete driveway and patio, redwood deck. Super condition, all I’m going to do is take out the carpet and install hardwood floors.
Why am I not surprised?
I’m trying to sell a house and I can’t even get buyers to look. 35 year old house with extensive remodeling done.
The selling price is under $50.00 per sq ft. Very high rated school system in a smaller town that is outside of a college town. Plus it is within commuting distance (15 minutes) to state jobs in another town.
It’s nuts.
Atlanta
Charlotte, N.C.
Las Vegas
Miami
Portland, Ore.
Seattle
Tampa, Fla.
and Detroit
Debt, unlike credit, is deflationary.
Prices rising in California cities?
Some here aint going to like that!
Of course it's no surprise, while most of country is hunkered down in frigged bone chilling weather.
Those who are looking to buy for personal or investment are avoiding Home Owner Associations like the plague.
the entire country is going to devolve into detroit or worse, zones without law.
Nor am I surprised by this.
Absolutely correct. Median home price historically adjusted for inflation always settles around 100k. We are still up around 170-180k. We still have a long way to go and it will have to dip below 100k before it equalizes back to 100k.
That period of equalization will be the time to buy!
Hmmm...A new high end pickup truck will cost ya 60k with tax and insurance...lol!!
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