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Old 11-19-2013, 08:13 PM
 
Location: Way up high
22,319 posts, read 29,400,492 times
Reputation: 31455

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A different 3 story townhouse right next to us is already under contract. It's been on market for about 3 weeks at 375K
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Old 11-20-2013, 09:13 AM
 
Location: In The Thin Air
12,566 posts, read 10,611,363 times
Reputation: 9247
Quote:
Originally Posted by Timmyy View Post
My condo complex completely skews that graph. 13 days until closing and the burden is gone.
Closed yesterday. Yay! I can't believe we finally got rid of that burden.
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Old 11-20-2013, 03:31 PM
 
5,444 posts, read 6,987,107 times
Reputation: 15147
Quote:
Originally Posted by Timmyy View Post
Closed yesterday. Yay! I can't believe we finally got rid of that burden.
Congrats on the sale. I'm sure it was a complete relief walking out of the office.
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Old 11-20-2013, 04:17 PM
 
Location: Way up high
22,319 posts, read 29,400,492 times
Reputation: 31455
Good for you Timmyy!!!
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Old 11-21-2013, 05:35 AM
 
Location: In The Thin Air
12,566 posts, read 10,611,363 times
Reputation: 9247
Thank you. It was a giant relief. Owning the condo has really held us back for quite some time. Now we can put our money into our house. It will be a very good holiday season.

Houses are still moving really fast in our area. Zillow has our house valued at $40K more than what we bought it for. Hopefully the values will hold the next two to three years. We are looking to upgrade in that timeframe.
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Old 11-21-2013, 07:29 AM
 
Location: Way up high
22,319 posts, read 29,400,492 times
Reputation: 31455
We are thinking of purchasing one of those 3 story townhomes when our lease is up in April. I'm hoping one will be available then or at least one for rent. Seems like we'll have to move on it very fast.
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Old 11-21-2013, 08:42 AM
 
Location: Berkeley Neighborhood, Denver, CO USA
17,705 posts, read 29,796,003 times
Reputation: 33286
Default Zestimates are...

Quote:
Originally Posted by Timmyy View Post
Zillow has our house valued at $40K more
Crap.
Never, ever pay attention to the Zestimate. It is complete crap.
Pay attention to what comparable houses nearby have recently sold for.
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Old 11-21-2013, 08:56 AM
 
Location: Colorado
2,483 posts, read 4,370,434 times
Reputation: 2686
Quote:
Originally Posted by davebarnes View Post
Pay attention to what comparable houses nearby have recently sold for.
Past performance does not indicate future results. But it can be an indicator of it, especially with something like neighboring homes, so it's not bad idea to do what DaveB said.

However, I think people rely on those kinds of indicators too much and feel that they are somehow entitled to a certain amount and that they have failed if they don't get it. And of course greed comes in to play there too. You really need to look at your circumstances. How much did you buy your home for and how much do you owe on it? How badly (quickly) do you need to sell it now? And then price accordingly.

My last home cost me a net loss of well over 20k to get it sold, but I was glad to do it because my new place was just sitting here waiting for me and it was at the absolute bottom of the great recession. Fortunately I had the bulk of the house paid off by then so I still got a bunch of cash back, and if I ever seek the place I'm in noes I will almost certainly make it all back and then some. But even if not, I'll do what I have to do and call it good because the living has been good, which is what I'm paying for. Housing is an expense. Think of it any other way and you're bound for some disappointment sooner or later.
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Old 11-21-2013, 11:27 AM
 
Location: 0.83 Atmospheres
11,477 posts, read 11,548,648 times
Reputation: 11976
Quote:
Originally Posted by Timmyy View Post
Thank you. It was a giant relief. Owning the condo has really held us back for quite some time. Now we can put our money into our house. It will be a very good holiday season.

Houses are still moving really fast in our area. Zillow has our house valued at $40K more than what we bought it for. Hopefully the values will hold the next two to three years. We are looking to upgrade in that timeframe.
Don't ever take Zillow for more than a general estimate.
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Old 11-21-2013, 03:32 PM
 
Location: In The Thin Air
12,566 posts, read 10,611,363 times
Reputation: 9247
Quote:
Originally Posted by davebarnes View Post
Crap.
Never, ever pay attention to the Zestimate. It is complete crap.
Pay attention to what comparable houses nearby have recently sold for.
I don't give Zillow too much credibility. The value is very close to what my house appraised for two months ago. It is nice to see the values rise.
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