For you fellow home owners, how is your home value doing compared to what you paid for it?

  • metta

    Posts: 39158

    Feb 17, 2010 6:16 PM GMT
    Is your home still worth more than what you paid for it?


    I still see home prices dropping in my area. The value of my home has recently dropped below what I have put into it. It was built in 2002. I'm not planning on selling my home anyways but not really happy about it. They can find buyers to pay decent prices but are unable to get the appraisals they need because of the foreclosures that have gone through.


    Housing Reports: Another Wave of Distressed Sales

    [quote]
    forecast most modification efforts will eventually fail - and that mods have just delayed foreclosures. The Burns forecast is for another 5 million distressed sales over the next few years.
    [/quote]

    http://www.calculatedriskblog.com/2010/02/housing-reports-another-wave-of.html



    Capital One Credit Card Charge-Offs Increase to 10.41%

    That is really insane. Too many people are abusing their credit card use at those charge off rates.

    http://www.calculatedriskblog.com/2010/02/capital-one-credit-card-charge-offs.html

    I have heard that homes are selling pretty well in the weathier areas. However, the prices have dropped quite a lot, some have lost over a million dollars in value.
  • TallGWMvballe...

    Posts: 1925

    Feb 17, 2010 6:39 PM GMT
    In my area (Laurel Canyon) in the Hollywood Hills of Los Angeles, we went through a serious drop but prices have crept back up.
  • rnch

    Posts: 11524

    Feb 17, 2010 7:12 PM GMT
    purchased it in january 2005, standard 20% down payment, 30 year fixed rate mortgage. the owner was going to have to default to the bank very soon, so i got it for a "very good price".

    after the faulty levies broke in august 2005 (hurricane Katrina aftermath), my house was in the "sliver along the river" of high(er) ground and did not flood, as 80% of new orleans did. icon_cool.gif

    the appraised value rose 110% by january of 2007. icon_biggrin.gif

    three years later, the appraised value has dropped to about 10% below what i owe on the money pit. icon_confused.gif
  • Csrobbie2000

    Posts: 359

    Feb 17, 2010 7:54 PM GMT
    I bought mine in 2005 at the height of the market, and even with 20% downpayment and paying extra toward the principal monthly, the current value is still about 10% under what I owe the bank. Hopefully it'll go back up in a few years.
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    Feb 17, 2010 10:01 PM GMT
    still in the black but have lost a lot of the equity we had due to the drop in home values.
    not upside down which is good but it's depressing to think how much it was worth five years ago and how much it's worth now.

    it will go back up though, SF property values are reliable that way.
  • Posted by a hidden member.
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    Feb 17, 2010 10:30 PM GMT
    2001 my ex and I bought our house for $280K icon_biggrin.gif
    2007 we split up and I buy him out with an appraisal of $460K icon_sad.gif
    12/2009 after 2 1/2 years on market - I sold it short for $275K icon_evil.gif


    ...living in my car now. icon_lol.gif

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    Feb 17, 2010 10:37 PM GMT
    I think I could sell my condo in the city for enough to pay off my mortgage, but absolutely no equity after making mortgage payments for five years. icon_sad.gif I didn't intend to stay here for more than six or seven years but it will take a serious upturn in the market for me to be able to sell anytime soon. So I'll be patient and hope I'm not forced to move for other reasons.

  • MSUBioNerd

    Posts: 1813

    Feb 17, 2010 10:44 PM GMT
    It looks like I'm just barely in the black, after buying in late 2006. The advantage of living in an economically depressed area: there was no substantial run up on prices, and therefore no major drop when the national housing bubble burst. I'm hoping that when I sell in a few years (after graduating, as I assume my postdoc will be in a different city), I'll have put in just enough equity to balance out the realtor fees from selling, and will have broken even versus renting an apartment.
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    Feb 17, 2010 10:55 PM GMT
    I bought my condo 13 months ago, and I'm up approximately 17-20K ... and thats because I live in the burbs.... in the city, I know some folks who bought midtown, 3 months after I did, and they are up 45-50K already.

    We'll see what goes on with the newly released guidelines on mortgages in the near future.

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    Feb 17, 2010 11:01 PM GMT
    well my parents bought theirs in 1991 for 300k...4.2 mil in 2006..... maybe 2mil in 2009
  • bchbum

    Posts: 161

    Feb 17, 2010 11:28 PM GMT
    My first house I am breaking about even on it. I bought it in late 2003. However, it has lost about 180K of value. My second house (subsidized my sister) has lost about 80K in value. Since my first house was easier to rent out I moved into the second home. If I have to move and do a short sell, I'll only lose about 25K. I have standard 30 yr mortgages on both homes.
  • HndsmKansan

    Posts: 16311

    Feb 17, 2010 11:31 PM GMT
    Doing extremely well. Its appreciated about 50% from what I paid for it when it was new at the end of 2004. Of course, I've put in a yard, lots on landscaping, fencing (and not cheap fencing) and upgraded parts of my house, including inlaid tile flooring and an awesome front door and matching sidelight. Probably half the appreciation comes from my own investment.
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    Feb 17, 2010 11:37 PM GMT
    I bought mine 5 years ago in a transitioning neighborhood. Lots of younger professionals and gays were moving in. But people have not been investing in renovations, and the thousands I've put into it since will likely be wasted, as there won't be other homes with higher comps ( I have a small place--there just aren't high-end homes here). My BF and I have had the "move-in-together" discussion, and the sale price will be a factor. I might hang on to it as a rental for several years--I'm right outside an Army base that is closing and will be a huge redevelopment.
  • Webster666

    Posts: 9217

    Feb 18, 2010 3:44 AM GMT
    I paid $107,000.
    Before the George W. Bush Great Depression, it was worth $500,000.
    After the George W. Bush Great Depression, it's worth about $375,000.
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    Feb 18, 2010 3:49 AM GMT
    My man and I bought for $80K. Now worth a whopping $150K.
  • Posted by a hidden member.
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    Feb 18, 2010 3:52 AM GMT
    I have seen the value of my house skyrocket since I added the garden hose to it.


    what? ... icon_lol.gif
  • Posted by a hidden member.
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    Feb 18, 2010 3:59 AM GMT
    Bought mine in 2007 and it has gone up alittle...hope it keeps goingicon_biggrin.gif
  • Posted by a hidden member.
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    Feb 18, 2010 5:17 AM GMT
    Bought house in 1997....it was the "ugly duckling" on the block and had been on the market for 4 months...I stole the house for $99.5K...have cleaned it up and made it comfortable...appraised in December 2009 for $240K.....property values in my part of suburban Columbus have continued to appreciate and developers are still building new...not as fast as before, but still........NW Columbus, Dublin, Powell, Lewis Center are the fastest growing part of Ohio and have very low unemployment...even now in this economy...in Ohio! This area is THE anomaly in the state....I'm happy I'm here! ...now if it would just STOP SNOWING! icon_biggrin.gif
  • metta

    Posts: 39158

    Aug 10, 2010 11:40 PM GMT
    Hard Times Investing: Real Estate Double Dip Deters Buyers And Investors
    http://www.cnbc.com/id/38282570/

    It kind of makes me want to start looking to buy again.....

    Condos that cost less than cars

    http://finance.yahoo.com/news/Condos-that-cost-less-than-cnnm-1234989345.html?x=0
  • Posted by a hidden member.
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    Aug 11, 2010 12:11 AM GMT
    Home prices in Houston have held up pretty well. We bought our house new in 2001 and with no improvements or renovations it's still appraised at 25% more than the purchase price. Not awe-inspiring, but better than some of the tales of woe above.
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    Aug 11, 2010 12:33 AM GMT
    I was needing to think hard about whether to get new siding for my house, so I got an independent appraisal.

    I bought the house almost 6 years ago. Considering the value after my new siding, it's worth 24% less than my purchase price, and worth $10k less than what I still owe on the mortgage. So, I can't sell it and probably can't command enough rent for the mortgage right now. So it put a delay on talks of moving in with the bf any time soon.
  • fitartistsf

    Posts: 638

    Aug 11, 2010 12:39 AM GMT
    Moved into my newly built house (first owner), at the end of January, 2010. It's a 4 bedroom, 2 1/2 bathroom, 2 car garage, about 1700sq ft, 7000sq ft lot, here in Lancaster, Ca. Final price was about $193,000... probably too soon to tell if any equity has attached to it yet...
    Hoping to put in a good sized lap pool next year with any luck.
    So if any one wants to escape the rat race and noise of the big city (LA, etc...) I have a couple extra rooms (and a king-size bed...) that are unused, if you would like to visit... LOLOL ;o)
  • rnch

    Posts: 11524

    Aug 11, 2010 1:32 AM GMT
    rnch saidpurchased it in january 2005, standard 20% down payment, 30 year fixed rate mortgage. the owner was going to have to default to the bank very soon, so i got it for a "very good price".

    after the faulty levies broke in august 2005 (hurricane Katrina aftermath), my house was in the "sliver along the river" of high(er) ground and did not flood, as 80% of new orleans did. icon_cool.gif

    the appraised value rose 110% by january of 2007. icon_biggrin.gif

    three years later, the appraised value has dropped to about 10% below what i owe on the money pit. icon_confused.gif


    UPDATE: I just had the bywater money pit appraised, after coverting the double front parlor, front bathroom and side hallway from the efficiecny apartment the last owner made it into, back to what it was when the house was built in 1882.

    i now have my 20% equity again!! i'm back in the black.

    yayyyyyy.
  • Posted by a hidden member.
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    Aug 11, 2010 1:38 AM GMT
    We purchased our place in 2001 while real estate in Tampa was appreciating nicely but before things went really crazy from 2003 to 2005 when some places doubled or tripled price wise. So even after real estate took a big beating in the last few years, we are still ahead of the game. We thought briefly about selling and buying another place in 2005 and 2006 and I'm really glad we stayed put.
  • Posted by a hidden member.
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    Aug 11, 2010 1:39 AM GMT
    fitartistsf saidMoved into my newly built house (first owner), at the end of January, 2010. It's a 4 bedroom, 2 1/2 bathroom, 2 car garage, about 1700sq ft, 7000sq ft lot, here in Lancaster, Ca. Final price was about $193,000... probably too soon to tell if any equity has attached to it yet...
    Hoping to put in a good sized lap pool next year with any luck.
    So if any one wants to escape the rat race and noise of the big city (LA, etc...) I have a couple extra rooms (and a king-size bed...) that are unused, if you would like to visit... LOLOL ;o)


    What fun is the unused bed at your place ;-P