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12-30-2008, 03:06 PM
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Senior Member
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Join Date: Jun 2008
Location: dallas, texas
216 posts, read 138,845 times
Reputation: 81
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The joys of homeownership
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12-30-2008, 03:43 PM
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Member
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Join Date: Dec 2008
91 posts, read 55,955 times
Reputation: 55
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Ooooh, don't forget high property taxes! That's my favorite.
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12-31-2008, 09:14 AM
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Real Housewife of Dallas
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Join Date: Jun 2006
Location: The Big D
11,472 posts, read 11,503,542 times
Reputation: 3334
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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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12-31-2008, 10:45 AM
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Senior Member
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Join Date: Oct 2008
Location: Plano Texas
677 posts, read 418,512 times
Reputation: 172
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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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12-31-2008, 10:50 AM
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Taco-ness is next to Godliness.
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Join Date: Mar 2007
Location: Richardson, TX
2,898 posts, read 1,837,117 times
Reputation: 4127
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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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01-02-2009, 09:22 AM
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Senior Member
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Join Date: Nov 2007
Location: Castle Hills
777 posts, read 343,207 times
Reputation: 288
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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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01-02-2009, 10:50 AM
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Senior Member
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Join Date: Feb 2008
2,205 posts, read 1,606,348 times
Reputation: 514
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Quote:
Originally Posted by DaveG99
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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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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01-02-2009, 10:54 AM
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Taco-ness is next to Godliness.
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Join Date: Mar 2007
Location: Richardson, TX
2,898 posts, read 1,837,117 times
Reputation: 4127
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Quote:
Originally Posted by ufcrules1
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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Yeah, well one man's fortune is another man's folly. |
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01-02-2009, 06:42 PM
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Senior Member
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Join Date: Jul 2008
Location: Richardson, TX
217 posts, read 172,413 times
Reputation: 64
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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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01-02-2009, 09:40 PM
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MBA, CHFM, CRL
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Join Date: Oct 2007
Location: Homes in Surprise, Az and Oxnard, CA and work in Ventura Ca.
2,417 posts, read 1,753,396 times
Reputation: 953
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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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