[movingover]

Specifically thinking of towns like Ridgefield, Wilton and Weston? I see home prices have fallen quite a bit, but I still feel they are being listed above their true value. Any experts with some opinions on this?

[kidyankee764]

Originally Posted by movingover

Specifically thinking of towns like Ridgefield, Wilton and Weston? I see home prices have fallen quite a bit, but I still feel they are being listed above their true value. Any experts with some opinions on this?

I agree. I'm not an expert but I think people are trying to get 2006 prices. I was browsing the real estate section in the Connecticut Post and everything still seems so high.

[MPC2000]

that's because some people are still trying to hold on and won't let go. It's CT at it's finest.

[Uconn97]

Originally Posted by MPC2000

that's because some people are still trying to hold on and won't let go. It's CT at it's finest.

It has nothing to do with CT. In many other places people are refusing to accept that what their house was worth 2 or 3 years ago is not what it is worth today. Not sure what your issue is with CT, but your negative commentary isn't really adding much to the discussions on here. If you hate it so much...don't let the welcome to CT sign hit you on the way out.

[Rich Lee]

Originally Posted by Uconn97

It has nothing to do with CT. In many other places people are refusing to accept that what their house was worth 2 or 3 years ago is not what it is worth today. Not sure what your issue is with CT, but your negative commentary isn't really adding much to the discussions on here. If you hate it so much...don't let the "Welcome to Conn." sign hit you on the way out.

If property depreciation were a result of residents' displeasure with the state, then people must really hate California, Nevada, and Florida.

[JayCT]

Originally Posted by Rich Lee

If property depreciation were a result of residents' displeasure with the state, then people must really hate California, Nevada, and Florida.

And just about every other major city in the country. Jay

[Stratford, Ct. Resident]

Originally Posted by Rich Lee

If property depreciation were a result of residents' displeasure with the state, then people must really hate California, Nevada, and Florida.

But, they were positively orgasmic for those states for at least a good 5 years('01-'06). Alas, they've spent their load and no blue pill will cure it.

[vvolin]

Originally Posted by Uconn97

It has nothing to do with CT. In many other places people are refusing to accept that what their house was worth 2 or 3 years ago is not what it is worth today. Not sure what your issue is with CT, but your negative commentary isn't really adding much to the discussions on here. If you hate it so much...don't let the welcome to CT sign hit you on the way out.

Was it really necessary, UConn97? Come on, you are cooler than that.

[Tin Knocker]

Your house is worth what someone will spend on it, period. But its silly not to expect folks to try & get the most return on one. If they bought within the last 3 or 4 years they are likely to take a hit that wil hurt. My house is a huge part of my net worth, I cant sell it for $200,000 just because the economy tanked. Luckilly I'v been here long enough my mortgage is less than most efficiencies.
I feel for the people who bought at inflated prices & are now forced to sell at a loss.
But life is like that. You roll your dice & you take your chances.
I expect they'll continue to drop for a while yet.

Then I expect that taxes will increase to offset the loss due to lower property values but not go down once things get back to normal again. Not like CT to let a chance to suck its people dry go untapped.

[usmcfamily]

I bought slightly after the peak, right before the market took a nosedive. I have a fixed rate mortgage but want to take advantage of the even lower rate now and can't because I owe more than my house is worth on paper! My house has gone down 100k in the 18 months we have been here. Thankfully, I am not moving anytime soon.

I don't think we are even close to hitting bottom either!

Our town just sent out reassessments for property tax. Of course, according to the town, my value went up a lot (since 2003) but thankfully, our mill rate dropped and my taxes will increase, not too painfully though