housing prices

[williams00]

You know, in other states that are having problems, they have a lot to offer and many people from all over the world want to live there.
People love California, Florida, But not so much Michigan.
The first two will always be desirable states. Many more people like palm trees and sunshine than like cold and snow. The people who vacationed in the north of Michigan were people who worked in the auto and related industries of the south of Michigan and north Ohio and Indiana.
Now that they are not able to spend the money in the droves that they once did, things will never bee the same.
But People will go to Florida, and California ten to one over Michigan.
Many here will say "good more room for me" let them cry about it.
As far as selling your home in Michigan, my advice is take your home price down to what ever it takes to sell.
Every day you wait you loose more $, and it will take many years if ever to get it back and all the time you are paying high taxes. You can not win the waiting game in Michigan.
In another several years if we have peaked out in oil production would you rather live in an area where you can put up with the heat in summers with not much energy usage or would rather live in a state where it costs you half your yearly wage to heat your home?
As energy climbs and jobs leave Michigan there will be more and more people leaving the state.
I know of many people who are Canadian citizens who worked in Michigan and are leaving as they can not afford to live there, they went home to a country that provides health care.

I have my eye on Ft. Myers Fl. Prices are dropping fast and soon it will be a great time to buy, and home prices will come back in states like Florida and California.
Good luck and do not let the people who are miserable in Michigan talk you into staying with them in their sinking boat.

[ouchy]

Sold in Pinckney In March. Paid 550K in 2003, added finished Basement and bath. Sold for less than 340K. Oh, was on the Tax roles of for over 300K SEV (Over 600K value as far as the property tax folks were concerned. On market for 5 months, and that was the only offer.

[ouchy]

Took the loss, no longer live in Michigan

[ImaMichigander]

Amen to Dr. Jim.

We have a house that we built not quite 3 years ago. We have 0 equity in the home. We have already priced down $20,000 less than we owe. Our first offer-- after being on the market as a FSBO came 2 1/2 weeks after we put the sign in the ground. That offer was $80,000 less than we are asking. We are moving in July, whether the house is sold or not. But at $100,000 loss, we'll take our chances and hold onto it for awhile.

You can't give it away, right?