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Location: Halfway between Number 4 Privet Drive and Forks, WA
1,516 posts, read 4,590,742 times
Reputation: 677
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Quote:
Originally Posted by desertsun41
I rarely agree with Killer in anything he ever posts. But I agree with him here. Whats so great about Gwinnett Cty? The same thing as San Diego, Las Vegas, Pheonix and on and on and on?????
Killers estimate already happened. My home in Vegas went from $300K to less then $150K in 3 years Back in 05 everyone said NO NO NO way can that ever happen. Ha... guess what happened.
I dont know if it will halve again but make no mistake, it will continue to go down. I dont care what you or any appraiser says it is worth. If no one is willing to buy it then it is worthless. Does that make sense?
Boy, you know not of what you speak. This is GA. Historical appreciation 3-4% per year. Very, very different from Las Vegas, Phoenix, and the other uber bubblelicious places you mentioned. I didn't say prices wouldn't decline, but not 60%. The problem with areas you mentioned is that housing got wayyyyy out of line to salaries. And that's why those prices crashed like a plane out of fuel.
And telling people they need to get rid of white cabinets to sell in this market...ha ha ha ha.
Beautiful home Lizzy. We bought in Suwanee last year; a house very similar to yours. Ours has one more full bath and we paid $270. I think your listing needs more info and better pics. What amenities does your s/d have?
Everyone is telling this poor woman to lower her price to under $300K.
Wana bet her mortgage balance is over $400K?? For nearly every home in America today that is the case.
There is nothing we can really do but to wait out the market for a decade or so.
Why in the world do you assume they owe 100K more than it's listed for? Who does this? Please, it sounds like they are priced right in line with what the market is asking in her neighborhood and area. Did their homes ever value at 400k+? Who knows, but somehow it seems that after lowering it 60k, made it $369,000, and that's IF they originally listed at ubber peak price, which I doubt!! I don't believe she ever mentioned it was in "short sale" status so this accusation was uncalled for. As for your other thoughts? This is the frustration on many minds- that states like yours RUINED it for the rest of us that did not make "millions" on real estate in a few years time. AZ is a horrible example, period! As I have said before, you all speak as if prices are at peak and need to come down in your redicuouls percentage amounts. The expectations just keep getting more unrealistic by the month where prices are concerned. First, everyone complained about "bubble prices" and the bursting of them. Then the bubble burst, in amounts of 10-50%, nation wide, and NOW, they still need to go down another 30%? please, this would mean, as a nation, all housing, no matter what price range, what location, what it cost to build, would be anywhere from 40-80% off? You people are crazy! Lets just say, hypothetically, that this scenario plays out. Who do you think is going to "buy up" all this real estate? Most all buyers are also sellers so where exactly do you think those that hypothetically turn an upper class neighborhood into a lower class one, by getting these homes for next to nothing, are going to send the upper class sellers packing to? Lets say this home the OP has listed actually does fall in value to $150,000, and sells for such. How will this salary that affords this home afford to keep it up and pay the utilities? Give me a break!!!
Why in the world do you assume they owe 100K more than it's listed for? Who does this? Please, it sounds like they are priced right in line with what the market is asking in her neighborhood and area. Did their homes ever value at 400k+? Who knows, but somehow it seems that after lowering it 60k, made it $369,000, and that's IF they originally listed at ubber peak price, which I doubt!! I don't believe she ever mentioned it was in "short sale" status so this accusation was uncalled for. As for your other thoughts? This is the frustration on many minds- that states like yours RUINED it for the rest of us that did not make "millions" on real estate in a few years time. AZ is a horrible example, period! As I have said before, you all speak as if prices are at peak and need to come down in your redicuouls percentage amounts. The expectations just keep getting more unrealistic by the month where prices are concerned. First, everyone complained about "bubble prices" and the bursting of them. Then the bubble burst, in amounts of 10-50%, nation wide, and NOW, they still need to go down another 30%? please, this would mean, as a nation, all housing, no matter what price range, what location, what it cost to build, would be anywhere from 40-80% off? You people are crazy! Lets just say, hypothetically, that this scenario plays out. Who do you think is going to "buy up" all this real estate? Most all buyers are also sellers so where exactly do you think those that hypothetically turn an upper class neighborhood into a lower class one, by getting these homes for next to nothing, are going to send the upper class sellers packing to? Lets say this home the OP has listed actually does fall in value to $150,000, and sells for such. How will this salary that affords this home afford to keep it up and pay the utilities? Give me a break!!!
What in the hell are you talking about? Unless you live in a shell you might need to know that your good ol Chicago home is down 30% too. Not too bad but many places homes are down much much more then that.
I didn't assume her mortgage is $100K over the asking price of the home. Im making an educated guess based on what EVERYONE else has already experienced.
Boy, you know not of what you speak. This is GA. Historical appreciation 3-4% per year. Very, very different from Las Vegas, Phoenix, and the other uber bubblelicious places you mentioned. I didn't say prices wouldn't decline, but not 60%. The problem with areas you mentioned is that housing got wayyyyy out of line to salaries. And that's why those prices crashed like a plane out of fuel.
And telling people they need to get rid of white cabinets to sell in this market...ha ha ha ha.
Your talking to a mirror when you tell yourself you dont know of what you speak. When you spin your head from the mirror you would be looking at a genuis. Not only that but I lived it so dont say Im wrong when you know damn well deep down that it is you that is wrong.
So Im a bad guy for telling her I dont like white cabinets and that they do indeed hurt the sale because they are out of style. Oops you said I told her to get rid of those cabinets. There must have been a post some where I am unaware of. No such words came from me.
So everyone else on here picked on her house telling her about her pink walls and poor lanscaping and so on. But you chose me to attack. Give up know while you are at the bottom.
Location: Halfway between Number 4 Privet Drive and Forks, WA
1,516 posts, read 4,590,742 times
Reputation: 677
Quote:
Originally Posted by desertsun41
Your talking to a mirror when you tell yourself you dont know of what you speak. When you spin your head from the mirror you would be looking at a genuis. Not only that but I lived it so dont say Im wrong when you know damn well deep down that it is you that is wrong.
So Im a bad guy for telling her I dont like white cabinets and that they do indeed hurt the sale because they are out of style. Oops you said I told her to get rid of those cabinets. There must have been a post some where I am unaware of. No such words came from me.
So everyone else on here picked on her house telling her about her pink walls and poor lanscaping and so on. But you chose me to attack. Give up know while you are at the bottom.
Dude, because you get your panties in a twist EVERYTIME you talk about white cabinets...
You sell cabinets. We get it. Are you trying to drum up business on city-data or something? Relax. It's just white cabinets.
Jeez...I'm glad I'm not judged by the cabinets I keep...LOL
And what am I wrong about exactly? I sold my house in middle GA in May 2008. I didnt' sell for 50% off. As a matter of fact, I bought my house for $171k in 2001. I sold it for $229k in 2008. And my buyers paid their closing costs. Oh, such a loss. I have lived this market, too, bubba, and I'm telling you to put your big boy pants on and deal with the fact there IS a difference to ALL markets. This ain't Las Vegas, sunshine And just cause you took a bath doesn't mean everyone has to.
What in the hell are you talking about? Unless you live in a shell you might need to know that your good ol Chicago home is down 30% too. Not too bad but many places homes are down much much more then that.
I didn't assume her mortgage is $100K over the asking price of the home. Im making an educated guess based on what EVERYONE else has already experienced.
Here we go again, with your (and your type's) inaccurate assumptions. For your information, Chicago is NOT down 30%, as a whole, and many areas are down anywhere from 10-30%, depending on which part of the city, which particular SUBURB, and so many other intricacies involved in the driving force of all real estate markets on completely different levels!! So what "the hell" I'm talking about is just your very type of completely WRONG generalizations of which you clearly know nothing about! My home is not in "good ole Chicago" but in a western suburb where homes have only dropped just at about 10% since the peak "bubble burst" in 2006 and when states like yours started on a rapid decline from an unbelievable run-up of crazy prices that our area never saw!
As for the "educated guess"; I believe you said "what do you want to bet her mortgage balance is over 400k". I would hardly call this a respectful, educated guess! That's an insulting assumption and is NOT "the case for nearly every home in America" as you put it! It's actually a very, very small percentage of homeowners who are upside down in their mortgages and ones that bought just a few short years ago with no money down, adjustable interest rates, interest only loans, blah, blah, blah!!!! Another typical, innacurate generalization!
Here we go again, with your (and your type's) inaccurate assumptions. For your information, Chicago is NOT down 30%, as a whole, and many areas are down anywhere from 10-30%, depending on which part of the city, which particular SUBURB, and so many other intricacies involved in the driving force of all real estate markets on completely different levels!! So what "the hell" I'm talking about is just your very type of completely WRONG generalizations of which you clearly know nothing about! My home is not in "good ole Chicago" but in a western suburb where homes have only dropped just at about 10% since the peak "bubble burst" in 2006 and when states like yours started on a rapid decline from an unbelievable run-up of crazy prices that our area never saw!
As for the "educated guess"; I believe you said "what do you want to bet her mortgage balance is over 400k". I would hardly call this a respectful, educated guess! That's an insulting assumption and is NOT "the case for nearly every home in America" as you put it! It's actually a very, very small percentage of homeowners who are upside down in their mortgages and ones that bought just a few short years ago with no money down, adjustable interest rates, interest only loans, blah, blah, blah!!!! Another typical, innacurate generalization!
What is insulting about buying a house and being upside down on mortgage? Sure it would suck but hardly an insult.
And Nearly 1 in 6 homeowners is ‘underwater’ - Mortgage Mess- msnbc.com says 1 in 6 roughly upside down. HARDLY sounds like a SMALL percentage of homeowners who are upside down in their mortgages and ones that bought just a few short years ago with no money down, adjustable rates, interest only loans, blah blah blah!!!
Just sayin.... You yell at people for making generalizations and you do the same. Funny...
Beautiful home Lizzy. We bought in Suwanee last year; a house very similar to yours. Ours has one more full bath and we paid $270. I think your listing needs more info and better pics. What amenities does your s/d have?
Brookdale! There you are..wondered where you went..come by and say hi to the campers!
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And just cause you took a bath doesn't mean everyone has to.
