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Home prices: 'Double-dip' confirmed

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Home prices: 'Double-dip' confirmed

Old 06-06-2011, 07:21 PM
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Default Home prices: 'Double-dip' confirmed

http://finance.yahoo.com/news/Home-p...85177.html?x=0


When will it relent. Unfortunately it may be sometime perhaps years or dare I say decades before the market really recovers.

Job growth - decent paying sustainable jobs would be a good start. Energy policies would also be right up there as well. Speculators are having their way with gas prices.
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Old 06-06-2011, 07:47 PM
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It makes all the difference in the world to know "who" has written a story and from where it came! Do a little homework on this guy please. "Les Christie" is the author, CNN Money ran this garbage story, that should tell you everything.
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Old 06-06-2011, 07:51 PM
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Originally Posted by spraynet 1 View Post
It makes all the difference in the world to know "who" has written a story and from where it came! Do a little homework on this guy please. "Les Christie" is the author, CNN Money ran this garbage story, that should tell you everything.
I just now Googled the title of the thread and their appears to many stories/authors if I am not mistaken.
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Old 06-07-2011, 05:25 PM
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Depends on location. A house on my street just went for 9% over asking and was under agreement in 2 weeks. Prices aren't back to where they were in 2005 around me but the market is brisk for houses that are priced right.
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Old 06-08-2011, 05:24 PM
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Old 06-08-2011, 06:09 PM
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In Fort Myers, we are TOAST!!!
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Old 06-09-2011, 05:34 AM
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There is always a flip side of a coin....

http://www.clearcapital.com/company/...June&year=2011
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Old 06-09-2011, 05:42 AM
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Originally Posted by triplenet View Post
There is always a flip side of a coin....

http://www.clearcapital.com/company/...June&year=2011

as mentioned...have to consider the source
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Old 06-09-2011, 05:50 AM
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Originally Posted by Sailfish_WC View Post
as mentioned...have to consider the source
I only have one source - me ...... All these reports are pure crap.... No one has a clue where RE values will be in 5 years,,,, and I am not concerned with home values nationwide.....

IMHO - Real Estate is local.... So the only valuation that really matters is the one within your community....
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Old 06-09-2011, 05:55 AM
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Originally Posted by triplenet View Post
I only have one source - me ...... All these reports are pure crap.... No one has a clue where RE values will be in 5 years,,,, and I am not concerned with home values nationwide.....

IMHO - Real Estate is local.... So the only valuation that really matters is the one within your community....
Yep--and it sucks. I have lost over 175K in my home in Fl. All equity. I want to sell but cannot afford that kind of loss. This is well below 2005 value. And, this is in Stuart.

The market is not well.
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Old 06-09-2011, 06:12 AM
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I dont think we will see 2006 valuations any time soon....

My neighbor sold for 1.25M in 2007..... Current valuation is around 700k .... So I feel your pain x3.....

But paper gains really mean nothing..... Unless your seriously upside down I wouldnt worry about it....

Its a home - not an investment.... Pay down the mortgage over time and it will still be a nice cash infusion for retirement ...
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Old 06-09-2011, 06:15 AM
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Originally Posted by triplenet View Post
I dont think we will see 2006 valuations any time soon....

My neighbor sold for 1.25M in 2007..... Current valuation is around 700k .... So I feel your pain x3.....

But paper gains really mean nothing..... Unless your seriously upside down I wouldnt worry about it....

Its a home - not an investment.... Pay down the mortgage over time and it will still be a nice cash infusion for retirement ...
Sorry--but I don't live there. So, it is an investment. I will lose my hard earned cash if I sell. Yet, while people walk away from 0% money down houses next door I am sucking wind to keep mine afloat. Yet--my taxes are outrageous.
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Old 06-09-2011, 06:16 AM
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We have long term unemployment in the Chicagoland area, I know several people who have been without a steady job for 2 or more years. As long as that type of condition exists more and more homes will be foreclosed upon and prices will continue to drop. Pretty hard to think about buying a home if you don't have a job or the loss of a job ruined your credit for awhile? I feel for anyone in that spot. The worm will turn....................
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Old 06-09-2011, 06:20 AM
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Originally Posted by Capt.Willie View Post
. This is well below 2005 value. .
I certainly wish the FL keys would get below that darn 2005 value.



There was a lake house in MI that was valued at 1.4m before the "crash", they guy is begging for 470k now.......no takers.
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Old 06-09-2011, 06:21 AM
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Originally Posted by Capt.Willie View Post
Sorry--but I don't live there. So, it is an investment. I will lose my hard earned cash if I sell. Yet, while people walk away from 0% money down houses next door I am sucking wind to keep mine afloat. Yet--my taxes are outrageous.
Sorry,,, didnt know...

Some may disagree, but if I had an investment and it went south - I would hand the keys right to the bank.... Valuations are not coming back anytime soon and why suffer more losses..... The bank wrote the loan and can take the risk just like the investor...

And I will buy them once the bank forecloses.... The cycle of life
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Old 06-09-2011, 06:26 AM
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Originally Posted by triplenet View Post
Sorry,,, didnt know...

Some may disagree, but if I had an investment and it went south - I would hand the keys right to the bank.... Valuations are not coming back anytime soon and why suffer more losses..... The bank wrote the loan and can take the risk just like the investor...

And I will buy them once the bank forecloses.... The cycle of life
Thanks. I have a small loan compared to the original value. I have it rented so I hope to hang in for the long ride. I hope in 10 years I can sell and get my cash out. Wish me luck. Or better yet--pray for guys like us that got transferred and got the stick in the eye.

If I had it to do allover again.... well you know 20/20 hindsight doesn't work.
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Old 06-09-2011, 06:43 AM
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I sold a few commercial properties in 2006 and 2007.... Then dumped all he cash cash into the stock market - talk about a painful dumb move ...

I am finally back but got high blood pressure and many sleepless nights along the way...

Things always work out - keep it rented and eventually the supply side of this market will be reduced and values will increase again...
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Old 06-09-2011, 06:51 AM
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Originally Posted by triplenet View Post
I sold a few commercial properties in 2006 and 2007.... Then dumped all he cash cash into the stock market - talk about a painful dumb move ...

I am finally back but got high blood pressure and many sleepless nights along the way...

Things always work out - keep it rented and eventually the supply side of this market will be reduced and values will increase again...
Yes--I do believe in American enterprise etc... We will, can and will recover.
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Old 06-09-2011, 10:55 AM
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My home is worth exactly what I paid for it 9 years ago........NE FL....
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Old 06-09-2011, 10:58 AM
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Originally Posted by slickster View Post
My home is worth exactly what I paid for it 9 years ago........NE FL....
I envy you. Not to knock you. I never thought I would be saying "I wish my house was worth what I paid for it."

Sucks.
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