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Just bought, not sure the price in this area will still decrease in value.

Profile picture for Willbuy08

Hi Everyone, I am so excited that we just closed the escrow and will be moving to the new home next week.

I am not sure how much more will this area decrease in value.

 

area link: http://www.zillow.com/HomeDetails.htm?zprop=24985125

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April 18 2008 - US

Replies (37)

no worries. It is OVER. We are only going to see appreciation as long as you did not pay bubble price.

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April 18 2008
Profile picture for klarek the realist
Contributions: 6683
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Since September 2009

Congratulations.  I recommend for your own sanity that you don't look at the listings in that area for the next few years.

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April 18 2008

Holy crap you got a good deal! Somebody paid 465 k back in 2005 for your house and you got it for 330K? Just insane!

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April 18 2008

Oh hell, time for me to go house hunting in this case. I would love to go house hunting for a cabin on the Pacific coast Washington.

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April 18 2008

Dear doomer Klarek - It is over. The doom party is over. It is time to buy now. Market is heating up so just go buy a house that is priced right. Don't wait too long.

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April 18 2008
Profile picture for azrob
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330K for 900 ft^2? are you kidding? what the heck would a 2br rent for there??

Unless rents are 2500 a month for this type of dwelling, you seriously overpayed...

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April 18 2008
Profile picture for Willbuy08

The rent is with $1200/month for two bedrooms.

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April 18 2008

Wow! That is little too much for that house :-) but it is a single family residence so may be you are ok.

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April 18 2008
Profile picture for azrob
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price will likely fall along ways then.... price is way too high compared to rent.

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April 18 2008

Don't listen to azrob he will always be a doomer no matter what. The guy is an investor waiting for a house to swoop in when he can get it for 25cents on the dollar. It's human nature to use scare tactics!

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April 18 2008
Profile picture for Waiting4Ever
Contributions: 683

824 sq ft

2 bedrooms

$400 / sq ft

thats a deal?

in my opinion

that is a small house

looks like this house decreases in value at $7000 month
let us know if you are "underwater" next month

and you should change the status on zillow to "sold"

 

anyways

 

good luck

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April 18 2008
Profile picture for azrob
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don't listen to doomers he has never said anything intelligent in his life...doesn't understand economics at all, and can't get a loan for his construction house in the seattle area, which he will be under water on immediatley...

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April 18 2008
Profile picture for klarek the realist
Contributions: 6683
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"Dear doomer Klarek - It is over. The doom party is over. It is time to buy now. Market is heating up so just go buy a house that is priced right. Don't wait too long."

 

I think it's too early to call that.  Considering you back up this claim with nothing, I suspect you too know this.

 

As I approach the end of my lease, still many months away, I'll contemplate buying.  I have a feeling these ARM resets that are peaking now won't end up on the market for several months to piledrive prices down.

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April 18 2008
Profile picture for Spleng
Contributions: 4630

"Considering you back up this claim with nothing,"

 

Bingo, this "formerdoomernowCL" is gunning for the title of "Biggest Empty Bag Of Wind Cheerleader Zillow Has Ever Seen."

 

He has an excellent shot to win.

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April 18 2008
Profile picture for subwayvigilante

Waiting4Ever, I love your Haikus.  Or are they sonnets?   They flow nicely and are very peaceful to read.

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April 18 2008
Profile picture for Urchin
Contributions: 132

I dont I think they are stupid

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April 18 2008
Profile picture for Spleng
Contributions: 4630

Urchin, they were serving your family for lunch today.

 

I passed though, didn't smell too fresh.

 

The cat however scarfed them down mighty quick.

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April 18 2008
Profile picture for Urchin
Contributions: 132

well, better fishy then poopy

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April 18 2008
Profile picture for Spleng
Contributions: 4630

The cat handled their transition.

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April 18 2008
Profile picture for Urchin
Contributions: 132

so

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April 18 2008

so what?

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April 18 2008
Profile picture for wetdawgs
Contributions: 4079
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Congratulation on your new home. May you enjoy it for many years.

 

I'm sorry the juveniles hijacked the thread with their customary rudeness.

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April 18 2008
Profile picture for Spleng
Contributions: 4630


"Congratulation on your new home. May you enjoy it for many years.

 

I'm sorry the juveniles hijacked the thread with their customary rudeness."

 

Welcome back Alpine.



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April 18 2008

The house is small for the price...but with the California coast right there I don't know...There's so much to consider (Bay area commute, proximity to San Jose)...I can't tell if you got a good deal or not..or whether the area will go up or down from here (I guess that's why I work with plants).  Anyways congrats...

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April 18 2008
Profile picture for Urchin
Contributions: 132

oh yes I should apologize for my hijack and offer my congrats....if it makes you happy that is really all that matters.

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April 18 2008
Profile picture for Webster3

A 2 bedroom, 1 bath house that's 824 square ft on no lot and hasn't been updated since 1960 sold for 465K????

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April 18 2008
Profile picture for Jack Bauer

That is one tiny house.  I would not expect it to hold its value, especially with the 1 bathroom situation.  In my area, that house would be a tear down; unsellable. 

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April 18 2008
Profile picture for wetdawgs
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Welcome to SF Bay area reality folks! 

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April 18 2008
Profile picture for Tagei
Contributions: 288

Willbuy08,

 

Congratulations! 

My wife and I have enjoyed every house we've owned. 

All the best!

 

Please don't let the envious snarls of a few malcontents diminish your excitement or happiness...

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April 19 2008
Profile picture for basbh
Contributions: 148

Dude, you lost your shirt.  824 square feet? Let us know how living in a shoe works out for you..

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April 19 2008

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