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Old 06-30-2010, 12:42 PM
 
Location: Seaford, NY
3 posts, read 5,085 times
Reputation: 12

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Just curious if you could share what you paid, where you bought, how many are for sale in the same neighborhood now, how the market prices have affected you and if you feel prices will return to 2005-2006 levels?
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Old 06-30-2010, 12:44 PM
 
4,319 posts, read 7,550,549 times
Reputation: 2498
I'll get right on that.
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Old 06-30-2010, 12:52 PM
 
Location: Seaford, NY
3 posts, read 5,085 times
Reputation: 12
Quote:
Originally Posted by S.I.B. View Post
I'll get right on that.
and if you could share how the rising unemployment rate allows for more useless comments on any forum....
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Old 06-30-2010, 12:55 PM
 
3,686 posts, read 7,974,964 times
Reputation: 1798
+1 LiLloyd
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Old 06-30-2010, 01:11 PM
 
Location: Union County
5,902 posts, read 8,885,220 times
Reputation: 5069
I'll save you the trouble... you overpaid and it's highly unlikely you'll be able to sell and get back even the realtor fee any time soon.

BTW - I know it's hard to rationalize being underwater... But, if you're able to make your payments (which you knew exactly what they'd be when you bought - taxes going up shouldn't be a surprise either) and don't want to dip into your "equity", why would you even care?
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Old 06-30-2010, 01:29 PM
 
4,319 posts, read 7,550,549 times
Reputation: 2498
Quote:
Originally Posted by LILLOYD View Post
and if you could share how the rising unemployment rate allows for more useless comments on any forum....
you tend to get these on useless threads.
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Old 06-30-2010, 01:31 PM
 
Location: East Northport
3,351 posts, read 8,852,815 times
Reputation: 1318
Quote:
Originally Posted by MikeyKid View Post
BTW - I know it's hard to rationalize being underwater... But, if you're able to make your payments (which you knew exactly what they'd be when you bought - taxes going up shouldn't be a surprise either) and don't want to dip into your "equity", why would you even care?
This is excellent advice. If you can afford your payments and do not have to move in the short term you will come out allright.
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Old 06-30-2010, 01:39 PM
 
Location: Confines of the 101 Precinct
25,524 posts, read 38,950,518 times
Reputation: 11164
a better question is how come nobody buys a home and intends to stay in it for the rest of their lives anymore? whats the sense of making such a huge financial commitment if you're just going to move in 5 years anyway? everybody wants to become a mini donald trump...and it ruins the community because nobody is putting stake in their homes anymore. go rent. in my co-op, everybody on my floor has been there 30 years minimum....simply amazing...thats what i call community.
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Old 06-30-2010, 01:43 PM
GPC
 
1,284 posts, read 3,042,107 times
Reputation: 1009
Quote:
Originally Posted by SeventhFloor View Post
a better question is how come nobody buys a home and intends to stay in it for the rest of their lives anymore? whats the sense of making such a huge financial commitment if you're just going to move in 5 years anyway? everybody wants to become a mini donald trump...and it ruins the community because nobody is putting stake in their homes anymore. go rent.
I'm moving now and lived in my house for 11 years. I know I don't have to tell anyone what a HUGE job moving a houseful of stuff is. I don't know how anyone could do this every 5 years!!! I hope to live in my next house for at least 10 years.
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Old 06-30-2010, 01:47 PM
 
Location: East Northport
3,351 posts, read 8,852,815 times
Reputation: 1318
The average time that people stay in their homes is 8 to 9 years.
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