U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 05-15-2018, 03:03 PM
 
Location: northwest valley, az
1,595 posts, read 761,642 times
Reputation: 1875

Advertisements

in the suburbs of Chicago, after 12 years of living there, we had to sell our house for 110k LESS than we bought it in 2005 a few months ago..it had dropped at its worst point to 35% LESS than we paid for it..

Plenty of people still under water..
Reply With Quote Quick reply to this message

 
Old 05-15-2018, 04:08 PM
 
Location: Research Triangle Area, NC
3,059 posts, read 2,077,686 times
Reputation: 4520
Quote:
Originally Posted by wase4711 View Post
in the suburbs of Chicago, after 12 years of living there, we had to sell our house for 110k LESS than we bought it in 2005 a few months ago..it had dropped at its worst point to 35% LESS than we paid for it..

Plenty of people still under water..
Did you have to bring money to closing when you sold your house?

If not...then you were not underwater.
Reply With Quote Quick reply to this message
 
Old 05-15-2018, 04:36 PM
 
Location: northwest valley, az
1,595 posts, read 761,642 times
Reputation: 1875
yep, over 40k out of pocket, I know what underwater means..
Reply With Quote Quick reply to this message
 
Old 05-15-2018, 05:00 PM
 
Location: Fort Lauderdale, Florida
8,144 posts, read 7,469,555 times
Reputation: 17054
Our real estate is pretty much where it was at peak and in some neighborhoods, ahead.

Foreign money propped up our market pretty quickly.
Reply With Quote Quick reply to this message
 
Old 05-15-2018, 06:12 PM
 
2,684 posts, read 962,344 times
Reputation: 5126
I'm surrounded by foreclosures and empty houses for rent because they don't sell.
Reply With Quote Quick reply to this message
 
Old 05-15-2018, 07:14 PM
 
2,008 posts, read 1,800,469 times
Reputation: 3337
Quote:
Originally Posted by NYC refugee View Post
I'm surrounded by foreclosures and empty houses for rent because they don't sell.
Where is this?
Reply With Quote Quick reply to this message
 
Old 05-16-2018, 02:36 AM
 
8,377 posts, read 7,369,618 times
Reputation: 18244
Not in my part of the world. Property did not go crazy here before the crash, and has gone up considerably over the years. In fact the county last year released the appreciation for the year before, and it was 11.5% in one year, and about the same last year, and there are almost no homes available in our small town area. I mean almost none, period, and if they come on the market, they sell immediately. Our median home price is $328,000. There is not one run down property in town. One investor has bought up any run down property as it came on the market the past few years, rehabs it (a contractor firm), and rents them out as investment property. His rehabs are top level, not like some of the flippers are doing. He puts them in good condition, as he is in it for the long haul. It is almost impossible to find any property for rent.
Reply With Quote Quick reply to this message
 
Old 05-16-2018, 04:42 AM
 
126 posts, read 41,254 times
Reputation: 302
Quote:
Originally Posted by TarHeelNick View Post
Did you have to bring money to closing when you sold your house?

If not...then you were not underwater.
That is not correct and shame on you for saying it.
Reply With Quote Quick reply to this message
 
Old 05-16-2018, 04:44 AM
 
64,590 posts, read 66,129,695 times
Reputation: 43008
Quote:
Originally Posted by TarHeelNick View Post
Did you have to bring money to closing when you sold your house?

If not...then you were not underwater.
you sure do . whether your own or the banks money that they loan you and you now owe them .choosing to stiff the banks and walk away does not mean you did not bring money to closing .
Reply With Quote Quick reply to this message
 
Old 05-16-2018, 10:54 AM
 
Location: Apex, NC
2,934 posts, read 7,137,430 times
Reputation: 2366
Quote:
Originally Posted by Oldhag1 View Post
In the exburbs of DC there are plenty. Basically, my house that we just now put on the market is still not worth what the people we bought it from paid for it in 2006, although it is getting nearer to it. When we purchased it in 2012 we paid over 100K less for it than they did.
I sold my tiny old townhouse in Leesburg, Va (DC exurb) back in 2006 for $345k, after purchasing for $208k in 2004 (yes, we made out). Two years later after the bank foreclosed and owned it for a year, it was sold for $163k. Today it's worth probably around $260-$280k looking at comps. So it's not worth anywhere near what is sold for 12 years ago.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top