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Old 12-30-2008, 02:06 PM
 
Location: dallas, texas
428 posts, read 1,396,697 times
Reputation: 298

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Its bad news...but maybe taken as good news too. The least worst of the pack. Yeah!


S&P: Dallas home prices continue to slide | News for Dallas, Texas | Dallas Morning News | Dallas Business News (http://www.dallasnews.com/sharedcontent/dws/bus/stories/123108dnbuscaseshiller.ac4375.html - broken link)
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Old 12-30-2008, 02:43 PM
 
91 posts, read 329,726 times
Reputation: 55
Ooooh, don't forget high property taxes! That's my favorite.
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Old 12-31-2008, 08:14 AM
 
Location: The Big D
14,862 posts, read 42,882,290 times
Reputation: 5787
I saw something yesterday that said that Dallas home prices showed an increase. I think it was on wfaa.com???

As for the drop in "Market Value" on what homes are selling......... as long as I am not in the market to sell my house it really doesn't bother me. The only thing it will do is drop the "market value" that the county tax office puts on my property which in turn lowers my property taxes. I plan on being in my current house we purchased a little over 6 years ago for at least another 8 years. Once that last kid walks across that stage......... all bets are off and Mom just might be headed to Mexico Sell this house for something smaller and buy something in Cabo to live at for at least 1/2 the year. By then I won't care if the market value is near what I paid for it. It will just mean that other houses that I would downsize to are also lower and I'll spend the rest on a place down there and with no mortgage on the current house........ no problem-o
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Old 12-31-2008, 09:45 AM
 
Location: Forney Texas
2,110 posts, read 6,465,713 times
Reputation: 1186
Florida has it much worse!

Example of my Dad's house in Miami....

Purchased 1999 $154,000
Peak Value 2006 $450,000
Current Value $325,000

thats a $125,000 price drop in 2 years!
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Old 12-31-2008, 09:50 AM
 
Location: DFW
12,229 posts, read 21,508,945 times
Reputation: 33267
I look at it more as an (unreasonable) price increase of $296,000 in 7 years.

It was never really worth $450,000, and I'm sorry for the poor saps that got stuck with mortgages that size and now can't sell because they can't afford to make up the difference.

Home prices have held steady or slightly increased in my neighborhood in the last two years. I called an appraiser to check on comps for a refinance and it looks like an appraisal will come in a few thousand higher than the one he did for me two years ago.
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Old 01-02-2009, 08:22 AM
 
Location: Castle Hills
1,172 posts, read 2,633,501 times
Reputation: 656
He should have sold for 450k and rented for a few years. Same with a lot of people whos houses increased like that. They could have made a huge chunk of money and then bought back in and pocketed 100k plus.
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Old 01-02-2009, 09:50 AM
 
6,824 posts, read 14,036,923 times
Reputation: 5755
Quote:
Originally Posted by DaveG99 View Post
Florida has it much worse!

Example of my Dad's house in Miami....

Purchased 1999 $154,000
Peak Value 2006 $450,000
Current Value $325,000

thats a $125,000 price drop in 2 years!


I see folks in Florida talk about this all the time. The house may have lost $125,000 but he is still $171,000 ahead of the game. I would love to see this kind of value in my house.
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Old 01-02-2009, 09:54 AM
 
Location: DFW
12,229 posts, read 21,508,945 times
Reputation: 33267
Quote:
Originally Posted by ufcrules1 View Post
He should have sold for 450k and rented for a few years. Same with a lot of people whos houses increased like that. They could have made a huge chunk of money and then bought back in and pocketed 100k plus.
Yeah, well one man's fortune is another man's folly.
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Old 01-02-2009, 05:42 PM
 
Location: Murphy, TX
673 posts, read 3,091,425 times
Reputation: 511
I was hoping price in DFW would drop more so I could buy nicer home sometime in 1 year or so. I am first time homebuyer, so more the prices drop the better for me
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Old 01-02-2009, 08:40 PM
 
Location: Living on the Coast in Oxnard CA
16,289 posts, read 32,350,015 times
Reputation: 21891
How much is the property tax in the DFW area? Here in California we pay 1.25% of the vallue of the home. Prices have declined here in the past year or two also.
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