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Old 02-19-2012, 01:43 PM
 
8,493 posts, read 11,892,274 times
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The Real Estate Forum here is very good. You will get a technical answer there from someone in Dallas no doubt.

But, with population increasing and housing starts down for several years in a row, it is hard to imagine that the demand will not eventually eat up the supply and prices will rise.
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Old 02-20-2012, 04:21 AM
 
Location: Newport News, VA
1,052 posts, read 1,363,321 times
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I am guessing that you are looking at your assessment for real estate tax purposes. In most areas, assessed value is not the same as fair market value. Assessed value is usually less than fair market value.

As Hope indicated, when you bought the property for $102K, that dropped its value It is likely that price became the new "assessed value."

Real estate prices are going up in places other than D.C. Jobs are related. Real estate prices go up in places where home buyers/owners make enough money to buy & keep a home. In this economy, the location with decent living wage jobs makes a difference in real estate prices and the local real estate market.

You may want to look at Emerging Trends in Real Estate 2012 published by the Urban Land Institute. You can view it online.

http://www.uli.org/~/media/Documents...ET_US2012.ashx

This report considers all types of real estate, not just residential.
P. 36-37 specifically discusses Dallas/Ft. Worth.

Good luck to the OP
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Old 02-23-2012, 06:54 AM
 
Location: Galloway, NJ
1,823 posts, read 2,233,733 times
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Quote:
Originally Posted by desertsun41 View Post
I can still remember the teacher telling us that since 1929, homes have never gone down in price except for one year which I can't remember now.
This was based on a national average. Housing prices didn't go down nationally from 1929 to 2005, but locally there have been plenty of down turns. On example would be California in the early 1990's, prices didn't recover from there losses until around 2001.

Quote:
Originally Posted by desertsun41 View Post
Other downturns had a much easier time to recover.
True, but no other bubble in the past was as big as the 2001 to 2006 bubble. You will have to go to the 1926 to 1928 Florida Real Estate bubble to find anything that comes close. If lending regulations where not so lax, the Housing market bubble would have halted around 2003 and we would have had a much smaller (and shorter) recession/housing market downturn). Statistically it takes 2 years of retraction to make up every 1 year of expansion. So if the housing market expanded from 2001 to 2006, roughly 5 years, there should be 10 years of retractions before things level out and prices start to go back up. So I don't expect the bottom to be any sooner than 2015 before housing prices start to get better.

Last edited by TechGromit; 02-23-2012 at 07:04 AM..
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