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Old 05-02-2008, 11:06 AM
 
Location: Up above the world so high!
45,270 posts, read 88,302,020 times
Reputation: 39844

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Quote:
Originally Posted by CouponJack View Post
On average residential SFH's have averaged around 3-4% (or slightly above the historical inflation rate).

A home is a place to live but should not be counted on to fully finance their retirement.

You CAN get wealthy in Resi Real Estate if you know what your doing, however one's home is different and should not be counted to fully fund their nest egg.
Has hell frozen over???


I actually agree with this entire post
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Old 05-02-2008, 11:09 AM
 
Location: Huntersville
1,521 posts, read 4,476,263 times
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Quote:
Originally Posted by lovesMountains View Post
Has hell frozen over???


I actually agree with this entire post
I think it did... The Devil started a post asking about heating companies


On a side note it still is a good time to invest in RE especially if your wanting to rent the property.
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Old 05-02-2008, 11:10 AM
 
Location: Up above the world so high!
45,270 posts, read 88,302,020 times
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Quote:
Originally Posted by QC Misfit View Post
I think it did... The Devil started a post asking about heating companies


On a side note it still is a good time to invest in RE especially if your wanting to rent the property.
hahahahahahahahahahaha!

Man, if I ONLY had the money there is the cutest little house in Chantilly you can still buy in the $200's I'd go for so fast!
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Old 05-02-2008, 12:09 PM
 
Location: State of Being
35,885 posts, read 67,009,663 times
Reputation: 22370
Quote:
Originally Posted by jp03 View Post
I am just tired of hearing comments from people NOT selling their homes saying how good they would do.I have not seen ONE person come on here saying "hey I put my house up a month ago and got my asking price..its NOT happenin. For people needing to sell a home right now, this is a serious , if not dire situation. I am not in that situation, but if I was, i would not take kindly to people spreading rose petals around saying how easy and vibrant the market is. Its nothing short of nightmarish right now. Even here.

Doom and gloom??? Sorry, REALITY.

It WILL get better soon enough, but right now it is as bad as it's ever been. I cannot imagine the pain of people in California or Florida...its sad really. Then again, buying a house is NOT an investment, its a PLACE TO LIVE. Some people got greedy and for them , no sorrow.

Thanks for letting me rant here, I just hate to see damn statistics come out when people here are suffering....ridiculous.
Kiss my grits, JP. If I want to speculate about whether or not my house would sell . . . basing that on what else has sold in my neighborhood (and two have recently sold) . . . then so what???? I am not spreading rose petals. In fact, I have clearly stated - LOCATION. I am not in a new subdivision competing w/ other houses at the same price point. I am in an older neighborhood wh/ people find attractive for many reasons, but one being the stable school district.

I am sorry people are suffering, but the stats do not suggest they are suffering so badly HERE. Yes, there are houses on the market. Yes, there is new inventory on the market. And I am not going to get into a diatribe about WHY there are foreclosures here as I think the subprime and Alt-A loan situation has been fully covered elsewhere. Perhaps there are people here who need to sell their homes due to job transfers. But even that situation is not as bad as in some areas (Detroit, for ex) - at least we are having newcomers arrive who are interested in buying - wh/- by the way - is the biggest reason we are not seeing a worse housing market here.

We all have our opinions about the property we own. Yes, it is an investment but it is also a place to LIVE, be it ever so humble or be it a cash cow.

Saying those of us who feel good about our property are hiding our heads in the sand is a silly statement. CLT market will have more adjustments. I am sorry if there are those who are struggling b/c of decisions they made about buying a house (and what type of loan they got) and I am sorry if people are sitting here waiting for their homes to sell when they need to move to another location. I know those are very frustrating situations.

However, the fact remains, this market is better than most around the country.
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Old 05-02-2008, 12:20 PM
 
Location: Up above the world so high!
45,270 posts, read 88,302,020 times
Reputation: 39844
Quote:
Originally Posted by anifani821 View Post
Kiss my grits, JP. If I want to speculate about whether or not my house would sell . . . basing that on what else has sold in my neighborhood (and two have recently sold) . . . then so what???? I am not spreading rose petals. In fact, I have clearly stated - LOCATION. I am not in a new subdivision competing w/ other houses at the same price point. I am in an older neighborhood wh/ people find attractive for many reasons, but one being the stable school district.

I am sorry people are suffering, but the stats do not suggest they are suffering so badly HERE. Yes, there are houses on the market. Yes, there is new inventory on the market. And I am not going to get into a diatribe about WHY there are foreclosures here as I think the subprime and Alt-A loan situation has been fully covered elsewhere. Perhaps there are people here who need to sell their homes due to job transfers. But even that situation is not as bad as in some areas (Detroit, for ex) - at least we are having newcomers arrive who are interested in buying - wh/- by the way - is the biggest reason we are not seeing a worse housing market here.

We all have our opinions about the property we own. Yes, it is an investment but it is also a place to LIVE, be it ever so humble or be it a cash cow.

Saying those of us who feel good about our property are hiding our heads in the sand is a silly statement. CLT market will have more adjustments. I am sorry if there are those who are struggling b/c of decisions they made about buying a house (and what type of loan they got) and I am sorry if people are sitting here waiting for their homes to sell when they need to move to another location. I know those are very frustrating situations.

However, the fact remains, this market is better than most around the country.

DITTO, to EVERYTHING you just said - you are absolutely correct
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Old 05-02-2008, 12:30 PM
 
160 posts, read 357,737 times
Reputation: 103
Charlotte never saw the boom, so the fall will be easier to handle. It's starting now and should continue to drop, and probably some of 09 as well, but not nearly what other parts of the country are seeing. a 10% correction is manageable. A 30% drop like some areas have seen are tough to take.
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Old 05-02-2008, 12:40 PM
 
Location: State of Being
35,885 posts, read 67,009,663 times
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Quote:
Originally Posted by lovesMountains View Post
DITTO, to EVERYTHING you just said - you are absolutely correct
Appreciate the validation, Loves. The way I see it - the report you posted simply states that we are not in the dire situation that so many markets are now experiencing. I thank God that our market never went into the "bubble" situation of so many across this country. People are escaping those situations and coming here! If that stops, then perhaps our market will change. But for now, for God's sake, people . . . be grateful we are not suffering like people in Detroit and Stockton, for ex., where they cannot GIVE away homes.

And I gotta say something else while I am at it. Those of us who are older than 45 remember the days when real estate loans were at 13% and you couldn't even qualify for most loans if you didn't have a 20% downpayment. And we didn't expect our homes to increase in value nor were there even instruments around to take equity out of our homes!!!! Equity lines of credit were not wide-spread back in 1978!!!! We never even THOUGHT about taking money out of our homes to pay off credit card debt or buy a boat or pay for our kids' tuition costs. That is a relatively new phenomena. The goal was to have your house paid for by retirement so you had someplace to live til you died.

So property as investment or cash cow or bank is a relatively new phenomenon. I had neighbors back in the early 80s who could not get a penny out of their homes when they had to sell them due to a job transfer that popped up w/in 2-4 years of buying their homes! Back then - we used to say - well, we enjoyed living here, we got the tax benefit of owning a home and at least that was better than renting! So people have not always made HUMONGOUS amounts off their homes and people used to regularly face making very little money off their houses. Flipping homes just wasn't feasible.

Just cause the market is what it is today - doesn't mean it is even vaguely similar to the market of 30 years ago. And it may be that we all will need to adjust our expectations about home ownership and "cashing out." Who knows? Used to be people invested in real estate for two reasons: one, to own a home and have it paid off so no expense in retirement and two, to buy rental property, get a steady income stream and perhaps depreciate the property for business write-offs.

Maybe we will need to do some re-adjusting in the coming years as to what it means to buy property - and what the long term goals are for investing in it, as well.
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Old 05-02-2008, 01:31 PM
 
9,564 posts, read 8,849,522 times
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Quote:
Originally Posted by anifani821 View Post
Kiss my grits, JP.
.
Actually I dont like grits. I find the taste to be quite bland. Its not really a bad food to eat but you really need to acquire a taste for it.
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Old 05-02-2008, 01:35 PM
 
Location: Uptown CLT (4th Ward)
2,560 posts, read 7,707,956 times
Reputation: 423
Quote:
Originally Posted by jp03 View Post
Actually I dont like grits. I find the taste to be quite bland. Its not really a bad food to eat but you really need to acquire a taste for it.
Same here...actually have never tried grits and I am from NC. Neither of my parents were raised on grits and have never eaten them and my mom never fixed them ever growing up. Kinda weird to be from NC and our family has never eaten or tasted grits.

Sorry to get off topic!
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Old 05-02-2008, 01:36 PM
 
Location: Huntersville
1,521 posts, read 4,476,263 times
Reputation: 298
I love G.R.I.T.S myself

Girls Raised in The South
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