 The contract with my realtor is almost up and she hasn't sold my house.? |
| Can I legally decide to list the house myself, lower the price (because I now don't have to pay her a commission) and sell it myself? She has told me several times that she believes it is worth ... |
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 Should this person rent or buy a house? |
| Single, young, Hispanic male, just graduated from college, and just got a job as a biomedical technician earning about $41,000 per/year. He is going to move out of his parent's house and is ... |
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 What was the excuses your tenants used to not pay the rent? |
| 1. My husband changed jobs. 2. My husbands job wont pay him. 3. My husband just started a new job. 4. I havent got paid yet. 4. My grandmother is sick. 5. My grandmother passed away. 6. I ... |
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 Do I have to give out my SSN for a rental in North Carolina? |
| ok... So in January I'm supposed to be moving from utah to NC and get married and move into this house with my Marine BF. Well he is taking care of the rental, and says that the law in NC is ... |
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 Asking price vs. Offer price? |
| How can a seller justify price their home $3000 more than the comprable home on sale nearby and the comprable has more bedrooms. If a home is worth the asking price, what is the standard price to ... |
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 If u cant afford to buy a house is the shared owner scheme a good way to start? |
| and how do i go about finding information on this do i have 2 go 2 ma local council?... |
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 What happens if I back out of purchasing a home I put a offer in on?? Im in Virginia!? |
| I put a bid in on a home, and when we did the home inspection there were a tremendous amount of problems. I was notified that 5 days after he was notified of the problems they were all fixed! In the ... |
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 How do I purchase a home without a buyer's agent? |
please tell me the steps in how to do this.
Additional Details
I've had a lawyer write up a purchase agreement. I want to know how to get the listing agent to take off half of his/... |
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 Do landlords have to provide central heating? |
| im renting a place, havent signed contract yet although ive handed money over, apparently we're under a verbal contract. Are landlords legally supposed to provide heating? thats central heating ... |
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 First time mortgage - chances of getting approved? no down payment? |
| ok so i have a few questions. my husband and i are looking into buying our own home, after ive been renting for 3 yrs, hes been renting for 2. we have an opportunity to buy a great house from a ... |
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 Are there ANY mortgage companies out there that will finance someone with at 475 beacon??? |
| I already have a mortgage on my home. I recently went through some bad money problems with a repo and my mortgage payment went 2 payments past due. I do NOT have the extra money to catch up these 2 ... |
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 My wife is driving me crazy! We are looking at houses in New Jersey and she says no to everything we look @ |
| Here is the thing. We are on a budget here in NJ. The housing is rediculously expensive here, and the taxes are too high. We are looking to only spend a max of 300K on a house, and we are looking ... |
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 Any creative ideas for selling a house? I know the market is tough, but I'm surprised it's THIS hard! |
Additional Details
This home is well maintained, in a good neighborhood and priced right - but getting no interest. Maybe someone out there knows something we don't know. Serious ... |
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 How do I get rent assistance? |
| Any ideas of places that will provide rent assistance? For example, vouchers, money, checks, and such. The Housing rent assistance, where they base your rent on 30% of your income takes forever to ... |
|
 Have you ever flipped a house?? |
I am really thinking about flipping a house.
I was just wandering if anyone had any advise to give to me. Also where do you get the money to do all of the construction and buy all of the things ... |
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Nancy Boy | So with the current housing market we have found our house has dropped in value by A LOT of money...? |
In one year our house has depreciated in value by 80k or there abouts...
Is there like any way to recoup some of this loss?
Will the value eventually climb to what it once was before this bump as it were? Or are we just stuck forever with an 80k loss? |
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Mr. E
 |
What you've got right now is called a "paper loss". It won't become a "realized loss" until you actually sell it. The long term trend is higher real estate prices, but if you bought before a crash it can take years and years before you make it back to even.
"Los Angeles home prices fell by over 20 percent of their value between 1989 and 1996. The median priced home fell from $230,000 to $175,000. For the homeowners who held on, it took nine years before prices returned to their 1989 levels."
http://www.realestatetiming.com/sandiegorealestatereport/calamity.htm
"And a rebound in the real estate market could take some time – when British home prices fell in the early 1990s, A decade passed before they returned to their previous peak, after adjusting for inflation."
http://archive.newsmax.com/archives/articles/2005/6/27/25222.shtml
"Between 1990 and 2005, land prices in Japan plunged by as much as 70% in some areas. But in the past year, those prices have finally started to recover." -- May 8, 2007
http://www.fool.com/investing/international/2007/05/08/is-it-time-for-japanese-real-estate.aspx
http://www.dailywealth.com/archive/2007/mar/japanese-real-estate.asp
US Real Estate Home prices adjusted for inflation plotted as a roller coaster:
http://www.youtube.com/watch?v=kUldGc06S3U
BTW, "depreciated" is probably not the right term to use in this context.
http://en.wikipedia.org/wiki/Depreciation |
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brother_manuel
 |
It's only a loss when you sell. I know it sucks. My portfolio's taken a hit. But things will improve. |
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cali
 |
who knows...our economy is so bad right now...its hard to tell.
GM is eliminating seventy thousand...thats right seventy not seven.
Gas is more expensive.
people are losing their homes by the millions
and the price of bread is going to about double. so right now the future looks a little bleak if you ask me. you never know. |
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brilliantly8tIndigosquirtAMVAVT
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It will go back up. Right now is the ideal time to buy if you can. I feel really bad for people trying to sell right now. They are losing their butts. Thousands of defaults still happening. Try to sit it out if you can. |
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Danielle M
|
It always goes up, and down.
It will eventually get back up, at some time even higher than before, then fall again. It's the way the market works.
No one can predict when it will rise or fall, but I can assure you, it will climb again.
If I were to guess, it would take a couple of years. But like I said, theres no guessing. If I could predict the market I'd be rich!
Hope that helps! |
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gimeabrak2000
|
stay where you are ,
like the stock market what goes down will go up
take some cash and do improvements
and when the market recovers you will
have a better value
start with the kitchen
and the baths
that is what really improves your property for resale
after it is over |
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JeĆ’Ć’ Lebowski
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It will go back up.. just not any time soon. Id look to at least 4-5 years until we see prices going back up. I'm no real estate expert, but I did stay at a holiday inn express last night. |
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The angels have the phone box.
 |
That's really hard to say.
Many housing markets are over-valued in general. In that case, then the bubble HAS to break at some point and those who bought at its peak will take the hit.
Given enough time, inflation will take the value back to what it was -- but that's 2008 money, so there will still be a loss.
If housing prices resume their greater than the rate of inflation increases, you'll recoup some of it. But with everything that's been allowed to be done to the U.S. economy, it could be a *long* time before that happens.
There are always consequences to unsustainable business practices. Unfortunately, it's rarely the businesses that pay them. |
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Holiday Cheese Fairy
|
You're entering an election year. Expect the value to stay low for now.
That huge a loss must be being caused by something else other than the economy - we own a house in a good neighborhood, and it only lost about $5,000 in value. (We're trying to sell it since we live in another state now) So what else is going on around your neighborhood that created such a great loss? Are you in one of those built on spec subdivisions? Is there a serious job loss rate where you live?
I'd say it all depends on where you live now - I own the one house, trying to sell it, in an older stable neighborhood and it took a small loss. I live in a mountain home that a year ago, we could have bought for less, but now the push is to move to mountains, so the values are actually starting to increase.
All in where you live.
You will possibly see a rebound over the next 5 years, but no telling if it will rebound that much. YOu may well have gotten stuck in that really high priced market a few years back tha has pretty much tanked.
Sorry. Wish there was better news. |
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Chris
 |
Everyone here has the right answer - the market will rebound - it will definitely take a few years - however, if you are selling now and taking that much of a loss, it is possible to make it up on the purchase of a new house - with all the homes on the market, there are plenty of folks in the same position as you are - so it all works out - if you are not selling, just stay cool - it will all work itself out and appreciation will make a comeback - but I am now bummed that I didn't stay at a Holiday Inn Express last nite! Darn! LOL |
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