- Find a Real Estate Professional
- Realtors®
- Mortgage Lenders
- Home Improvement Pros
- Other Real Estate Services
- Review an Agent, Lender or Pro
- Marketing on Zillow
- Real Estate Agent Advertising
- Join the Professional Directory
- Popular
- Real Estate Market Reports
- More
- snoopysdad
- Contributions:30
In a word (and depending on Your location)
"Nope".
In Florida the NAR & FAR are predicting ANOTHER 20-40% FALL in prices/valuations (over the next 12 months).
It isn't hard to figure out either...w/over 600,000 available housing units, while folks LEAVE in droves (and the punch line...gulp -->) AND the Mega Banks sit on the side lines with over 380,000 MORE properties either in foreclosure, or completed but NOT introduced to the market yet (for they KNOW they'd toilet valuations beyond repair for 15 years)....it wasn't a hard prediction.
The bottom line (at least for here) is that at the FIRST Sign of a 'recovery' or 'stabilization' in pricing/valuations....all these REO's (real estate owned...by those BANKS) will be unleashed and flood the market; viola` and the 'double dip' (which is a complete misnomer...here we've seen nothing but a constant downward trend since '07, sometimes mere low single digit percentages, other times it fell off a CLIFF for the quarter) is fully under way. All the 'pitching' of 'investment' and 'now's the time to buy, buy, BUY" merely discredits those espousing same.
This spells out the dilemma faced by county property appraisers in Florida rather perfectly:
http://www.brevardpropertyappraiser.com/mainhtml/Press_release/images/2011_05_20_foreclosure.pdf
See, dear readers, we have a LAW that says Sales of distressed properties, REO's and FC's can NOT be used in calculating value.
In many areas of the state these are the ONLY Sales Closing! In this County, this Appraiser lays out for the legislators that almost 50% of ALL transactions were distressed sales last year. No One (legally) can "Ignore" the fact that all these sales are occurring and driving down real valuations, least of all the people in each county REQUIRED BY LAW to certify values for ad valorem taxes.
Where's the bottom? When government either gets out of the way, or starts going after all the BANKS for their former institutional mortgage fraud and their attorney'sCurrent foreclosure fraud, that'll be a start. Until then, the whole system is providing far more questions than answers in Buyers minds. Right now, buyers can't even be sure the BANKS, offering the REO's, ACTUALLY OWN them! It's a real 1st rate Mess.
"Nope".
In Florida the NAR & FAR are predicting ANOTHER 20-40% FALL in prices/valuations (over the next 12 months).
It isn't hard to figure out either...w/over 600,000 available housing units, while folks LEAVE in droves (and the punch line...gulp -->) AND the Mega Banks sit on the side lines with over 380,000 MORE properties either in foreclosure, or completed but NOT introduced to the market yet (for they KNOW they'd toilet valuations beyond repair for 15 years)....it wasn't a hard prediction.
The bottom line (at least for here) is that at the FIRST Sign of a 'recovery' or 'stabilization' in pricing/valuations....all these REO's (real estate owned...by those BANKS) will be unleashed and flood the market; viola` and the 'double dip' (which is a complete misnomer...here we've seen nothing but a constant downward trend since '07, sometimes mere low single digit percentages, other times it fell off a CLIFF for the quarter) is fully under way. All the 'pitching' of 'investment' and 'now's the time to buy, buy, BUY" merely discredits those espousing same.
This spells out the dilemma faced by county property appraisers in Florida rather perfectly:
http://www.brevardpropertyappraiser.com/mainhtml/Press_release/images/2011_05_20_foreclosure.pdf
See, dear readers, we have a LAW that says Sales of distressed properties, REO's and FC's can NOT be used in calculating value.
In many areas of the state these are the ONLY Sales Closing! In this County, this Appraiser lays out for the legislators that almost 50% of ALL transactions were distressed sales last year. No One (legally) can "Ignore" the fact that all these sales are occurring and driving down real valuations, least of all the people in each county REQUIRED BY LAW to certify values for ad valorem taxes.
Where's the bottom? When government either gets out of the way, or starts going after all the BANKS for their former institutional mortgage fraud and their attorney'sCurrent foreclosure fraud, that'll be a start. Until then, the whole system is providing far more questions than answers in Buyers minds. Right now, buyers can't even be sure the BANKS, offering the REO's, ACTUALLY OWN them! It's a real 1st rate Mess.
- Call The Sisters, "Call The Sisters"
- Contributions:373
This is an old thread but it is still the current question. Any one who thought the housing recession would be just a bump in the highway was sadly mistaken.
Depending on location the bottom is yet to come.
Depending on location the bottom is yet to come.
- Erik Samaniego, "Erik Samaniego"
- Contributions:47
As in all areas, the housing market is a "local" defined happening within a specific location, city, town, county, etc. Very true about situations presently giving us a lower market footprint of foreclosed upon properties. However, at the same time this is simply due to many major lenders, banks or investors being told to once again examine their processes towards such clients.
What is going to happen as more and more properties are kept OFF the market for an extra length of time, will be to extend the true reality of the market coming to terms with itself.
Finding a bottom is directly a local happening based on several issues just as the one mentioned above.
What is going to happen as more and more properties are kept OFF the market for an extra length of time, will be to extend the true reality of the market coming to terms with itself.
Finding a bottom is directly a local happening based on several issues just as the one mentioned above.
I'm always happy to see these old threads!!!
You will notice down the list my opinion was pretty negative, based on the data at the time.
Today, we have somewhat lower mortgage delinquincy rates, Less foreclosed inventory on the market, lower rental vacancy rates, and in some areas closer in to town, stable to rising rental rates.
I'm not going to call a bottom, as many of these data points could change: there are wildcards out there: winding down fannie and freddie, potential US temporary default due mostly to tea-party idiots, Greek and Europe credit contagion, etc.
BUT, I just closed on my 4th personal purchase of the year, a 4 bedroom 2.5 bath 2004 build home for 47K. It needs 13K in rehab, and will hopefully rent for $1050 a month.
You will notice down the list my opinion was pretty negative, based on the data at the time.
Today, we have somewhat lower mortgage delinquincy rates, Less foreclosed inventory on the market, lower rental vacancy rates, and in some areas closer in to town, stable to rising rental rates.
I'm not going to call a bottom, as many of these data points could change: there are wildcards out there: winding down fannie and freddie, potential US temporary default due mostly to tea-party idiots, Greek and Europe credit contagion, etc.
BUT, I just closed on my 4th personal purchase of the year, a 4 bedroom 2.5 bath 2004 build home for 47K. It needs 13K in rehab, and will hopefully rent for $1050 a month.
- BJ Matson, "montgomerycounty"
- Contributions:2
It all depends on your vantage point. Real estate is local. What is true in the metro D.C. area where I am may not be even close to your local market. Montgomery County, Maryland.. a county that touches Washington D.C. to the north is where I can speak from. It is where I get dirty and can tell you from hands-on experience, NOT from pulling stats from my computer.
Even within pockets of Montgomery County, differences can be seen. Basing my answer on the homes I've put offers on over the Spring and past few months, I say 'yes' we are in the bottom. As far as coming out of the bottom, it sure feels like it's trying. Almost every offer has had a competing offer, and my Buyer has had to go full asking price or higher.. sometimes with an escalation clause. For certain price range Buyers there is a shortage of inventory in this area NOT plenty of inventory as the Govt and media would have you believe... this is true as a Nation but not in our local area.
Even within pockets of Montgomery County, differences can be seen. Basing my answer on the homes I've put offers on over the Spring and past few months, I say 'yes' we are in the bottom. As far as coming out of the bottom, it sure feels like it's trying. Almost every offer has had a competing offer, and my Buyer has had to go full asking price or higher.. sometimes with an escalation clause. For certain price range Buyers there is a shortage of inventory in this area NOT plenty of inventory as the Govt and media would have you believe... this is true as a Nation but not in our local area.
- Dan, "the_country_hick"
- Contributions:4709
2 years later. The bottom is still not close. As can be seen some people could see what was happening and some could not.
- Johnny James, "Palmdale Mortgage"
- Contributions:406
No not at the bottom yet
- jimmy57
- Contributions:1511
I guessing that when (many, not all) Realtors say "bottom" they mean that some NAR-paid analyst has predicted that their sales numbers (number of deals) have passed their low point.
Thanks to Linda for the link. It makes it rather transparent that REAs are being coached in selling foreclosures to young first-timers. I suppose the idea is to make them feel as they are getting a deal, eh? Nice.
Thanks to Linda for the link. It makes it rather transparent that REAs are being coached in selling foreclosures to young first-timers. I suppose the idea is to make them feel as they are getting a deal, eh? Nice.
- jimmy57
- Contributions:1511
24 of the last 30 properties to come on the market in my CA zipcode are short sales or foreclosures. Of the remaining 6, 4 are re-listings that have actually been marketed for over a year.
A correspondent in a nearby neighborhood has learned that the greater part of the much-trumpeted late-summer sales in his area were done with 5%- down FHA loans. (So we haven't even stopped creating the problem!)
Doesn't look like a bottom from here.
A correspondent in a nearby neighborhood has learned that the greater part of the much-trumpeted late-summer sales in his area were done with 5%- down FHA loans. (So we haven't even stopped creating the problem!)
Doesn't look like a bottom from here.
- Jay Bailey, "jaybailey1"
- Contributions:257
Most economist agree that the bottom was in the summer of 2009.
- Dan, "the_country_hick"
- Contributions:4709
The governmental intervention has created a blip. A small upward bump that looked at over a 5 year period will be seen as a mistake. We see similar up-bumps all the time with stocks, oil, and other commodities. It does not mean anything.
Remove the government intervention, the federal reserve buying mortgage backed paper, FHA offering loans to those who can not afford them, Zero interest rates, and watch the prices drop. As soon as mortgage rates go up to 6 1/2% you will see prices drop hard. And that is cheap by any historic standard.
We are not even close to the bottom. Watch, wait, and see. I do.
My buying is on hold for these reasons. I could buy today, but refuse to pay an extra $50k or more needlessly.
Look at house prices from a 100 year historic basis and you will see what I mean. Prices are way out of whack with incomes. They MUST and will drop.
Remove the government intervention, the federal reserve buying mortgage backed paper, FHA offering loans to those who can not afford them, Zero interest rates, and watch the prices drop. As soon as mortgage rates go up to 6 1/2% you will see prices drop hard. And that is cheap by any historic standard.
We are not even close to the bottom. Watch, wait, and see. I do.
My buying is on hold for these reasons. I could buy today, but refuse to pay an extra $50k or more needlessly.
Look at house prices from a 100 year historic basis and you will see what I mean. Prices are way out of whack with incomes. They MUST and will drop.
- Mia Gloor, "MIA GLOOR...."
- Contributions:319
Kudos to you Roberto. Here's to being $$$$er and wiser..YOU ARE A GOOD STUDY. Thanks for sharing. KEEP UP THE GOOD WORK.
Actually, Mia, some of us study these things. I sold my investment properties before the peak, I made a ton of money, so maybe I am wiser, and certainly, as you put it $$$$er.
Who really knows?
1. Mortgage delinquencies are still climbing. Their are twice as many delinquent mortgages today as a year ago. [delinqunicy leads to foreclosure, leads to REO homes for sale, and dropping prices... the process is being delayed but not stopped]
2. We are still losing jobs. Near as I can tell, it helps to have a job to buy a home. 220,000 lost last month alone.
3. Rents are dropping in many areas, rental vacancies are unsustainably high. This puts pressure on leveraged investors, and makes the rent/buy decision bias more towards renting in the near (1 to 3 years) period.
It is really irritating to read "nobody knows" or "nobody has a crystal ball", this bubble was actually easy to see coming.
Who really knows?
1. Mortgage delinquencies are still climbing. Their are twice as many delinquent mortgages today as a year ago. [delinqunicy leads to foreclosure, leads to REO homes for sale, and dropping prices... the process is being delayed but not stopped]
2. We are still losing jobs. Near as I can tell, it helps to have a job to buy a home. 220,000 lost last month alone.
3. Rents are dropping in many areas, rental vacancies are unsustainably high. This puts pressure on leveraged investors, and makes the rent/buy decision bias more towards renting in the near (1 to 3 years) period.
It is really irritating to read "nobody knows" or "nobody has a crystal ball", this bubble was actually easy to see coming.
- Mia Gloor, "MIA GLOOR...."
- Contributions:319
IF ANYONE HAD THE ANSWER TO THIS QUESTION ( WHICH IS KNOWBODY) WE WOULD ALL BE THE WISER AND $$$,,WELL YA KNOW. WHO REALLY KNOWS. I DO KNOW IT'S A SUPER TIME TO BE A BUYER NOW, EVAN IF PRICES DROP JUST A LITTLE MORE. I FEEL IT'S LEVELING OFF THOUGH. RATES ARE STILL AT A HISTORICAL LOW AND PRICES ARE FANTASTIC. IT'S A BUYERS MARKET. TAKE ADVANTAGE OF IT. THE COMMERCIAL BOOM IS ON IT'S WAY TOO. NICE...MARIPOSA, CA IS FANTASTIC!!!!!!!!!!!
- Louis Wolfson, "Louis Wolfson"
- Contributions:173
No we have not seen the bottom on a national basis. That said our market here has been very good here in the immediate Boston market.
- CORONA NICK
- Contributions:2218
Hell no.... nuff said.
- ginoray
- Contributions:3
Some cities have went down very little. Some are now showing multiple offers on bank owned RE.
However as an investor and landlord I will not feel comfortable until unemployment numbers improve.
However as an investor and landlord I will not feel comfortable until unemployment numbers improve.
- gabepal
- Contributions:57
I enjoy this forum and this topic. Since I am positive by nature I attempt to block out negative chatter. Let us look on the bright side of this issue. Living in Florida and functioning as a full time broker for over 25 years . I have seen turbulence in the market before. Like our hurricane warnings we are reminded of the possibilities for disaster each time. Some ignore it and some not. It is always practical to be prepared.
The recent years in real estate here in Florida where prices went totally out of control did not stop manyof trying to cah into the bonanza.
Some were cautious and with the right timing cashed out and made a fist full of profit. Some did not. Many of these investors were intelligent and well informed people. Was there a warning? Of course. So it is blame time and we can start blaming and pin the tail on the donkey
.As I stated earlier it is always a proud moment to own your home. Many Americans do. It is no secret it is a serious decision.I see young people today excited and nervous finalizing on their deals. The thrill is always the same. I am happy to see that many buyers have opportunities with today prices to become new owners of their own home. They are filled with hopes and plans for a better tomorrow..The drastic adjustment in the prices provided that opportunity to so many. In recent years past they could not even dream of this possibility.
Not to be beleived that this opportunity is eternal should come as a warning. The one thing that is certain that todays buyers have lessons they can learn from many of us from the past. As a broker I take this lesson to heart. Not everyone should entertain buying a home without ample savings, security of a job and plenty of planning for hard times that faces us. When the storm is over and roof is safe once more. Life goes on.
The recent years in real estate here in Florida where prices went totally out of control did not stop manyof trying to cah into the bonanza.
Some were cautious and with the right timing cashed out and made a fist full of profit. Some did not. Many of these investors were intelligent and well informed people. Was there a warning? Of course. So it is blame time and we can start blaming and pin the tail on the donkey
.As I stated earlier it is always a proud moment to own your home. Many Americans do. It is no secret it is a serious decision.I see young people today excited and nervous finalizing on their deals. The thrill is always the same. I am happy to see that many buyers have opportunities with today prices to become new owners of their own home. They are filled with hopes and plans for a better tomorrow..The drastic adjustment in the prices provided that opportunity to so many. In recent years past they could not even dream of this possibility.
Not to be beleived that this opportunity is eternal should come as a warning. The one thing that is certain that todays buyers have lessons they can learn from many of us from the past. As a broker I take this lesson to heart. Not everyone should entertain buying a home without ample savings, security of a job and plenty of planning for hard times that faces us. When the storm is over and roof is safe once more. Life goes on.
- klarek the realist
- Contributions:7044
It is impossible to know if it's rebounding because of the horrific market manipulation going on. The fact that a lot of markets are still dropping when the stupid govt is BRIBING people to buy houses should indicate that it utlimately will fall quite a bit more, and all these gimmicks just delay the inevitable.
- Reva Minkoff, "hecmgirl"
- Contributions:1
I don't know- from looking at the data, it seems to me that the housing market has hit bottom and is beginning to rebound. While that rebound may take a long time to manifest itself in some areas (and this has nothing to do with home values, which in many cases have been pulled so far down by foreclosures that it may be awhile before they rebound), the rates of decline are slowing. I say things are starting to look up.
Good News for the Housing Market
Good News for the Housing Market
- sunnyview
- Contributions:25169
If someone is breaking into my house, I appreciate my dog's well placed BARK to warn me of trouble. When you say "Holding on to the property during hard times is the reward for so many. They will benefit in the end as always," I would have to disagree. Unlike times past, many did not benefit from owning homes in the recent past. Failing to learn from history is stupidity not optimism. Buyers need to educate themselves and take into account that many professionals that make a living buying and selling real estate will often feel that it is a good time to buy. People take responsibility for their buying decision, be educated about their market and make a solid decision based on sound financial principles.
- gabepal
- Contributions:57
Deinition of bottom of the housing recession applies differently to different people. . To the seller who hopes it is over .To the buyer who hopes it is not.
It is more confusing to the realtor who does not know who to represent.
if you are a seller and you have to sell in this market I feel sorry for you.If you are a buyer and see the opportunity Bravo.
Lesson learned. When you have money you always control.
When you have expenses beyond your capabilities you are out of control. The oportunity of buying with nothing down and selling for a quick profit is defenetly over. The value of real estate is not only measured by price. It is valued by need. Measuring the comfort and security of a home is priceless. The responsibility and what one can afford is the real question. With most Americans who purchased a home know that it is not a short term investment. Holding on to the property during hard times is the reward for so many. They will benefit in the end as always. Have we forgotten that most homes purchased 20 years ago for $30,000 are worth over $200,000 in this economy. Naturally two years ago most of them would not sell for $4000,000 thinking it would be worth more.Some professionals who claim their fame and share their toughts with you reflecting gloom an doom should learn from their pets. No one likes a barking dog.
It is more confusing to the realtor who does not know who to represent.
if you are a seller and you have to sell in this market I feel sorry for you.If you are a buyer and see the opportunity Bravo.
Lesson learned. When you have money you always control.
When you have expenses beyond your capabilities you are out of control. The oportunity of buying with nothing down and selling for a quick profit is defenetly over. The value of real estate is not only measured by price. It is valued by need. Measuring the comfort and security of a home is priceless. The responsibility and what one can afford is the real question. With most Americans who purchased a home know that it is not a short term investment. Holding on to the property during hard times is the reward for so many. They will benefit in the end as always. Have we forgotten that most homes purchased 20 years ago for $30,000 are worth over $200,000 in this economy. Naturally two years ago most of them would not sell for $4000,000 thinking it would be worth more.Some professionals who claim their fame and share their toughts with you reflecting gloom an doom should learn from their pets. No one likes a barking dog.
- sunnyview
- Contributions:25169
I would say that we are not at the bottom yet in most areas. The areas that were hardest hit early seem to be stabilizing a little bit, but it is really hard to tell due the the buyers credit having an effect on those markets in the low entry level market. I think in many areas including mine that we have another 10% to drop, but time will tell.
- txp135
- Contributions:57
"The real estate market is liquid not static. It goes up and down at all times."
What ever happened to the "real estate always go up"? Sorry, couldn't help myself :). You have a good point about people are getting a false sense of security.
It's misleading because of the housing credit right now. Just look at the "Cash 4 Clunkers" program; dealers are getting hung out to dry because people pushed their buying time table up. I suspect this is why Obama has to push Health Care Reform now before the housing market crash again; in which case his credibility would be shot to hell and people wouldn't even let him sign autographs.
What ever happened to the "real estate always go up"? Sorry, couldn't help myself :). You have a good point about people are getting a false sense of security.
It's misleading because of the housing credit right now. Just look at the "Cash 4 Clunkers" program; dealers are getting hung out to dry because people pushed their buying time table up. I suspect this is why Obama has to push Health Care Reform now before the housing market crash again; in which case his credibility would be shot to hell and people wouldn't even let him sign autographs.
- Johnny James, "johnnyloans1"
- Contributions:115
The real estate market is liquid not static. It goes up and down at all times. Some times of the year, summer specifically sales and values raise. Do not get a false sense of security because winter will bring that right back in focus. Thee are millions of loans due to reset in 2010 and 2011 then you will see a real bottom not in 2009.
"reaching the bottom is a state of mind..." ???
"real estate will always be the right place to put your hard earned money..."
Really? so the guy who bought a 300K home in 2006, only to watch its value plunge to 120K is really just in the wrong state of mind? He really put his money in the right place?
Somebody just moved way up in the stupid quotes of the year category!
"real estate will always be the right place to put your hard earned money..."
Really? so the guy who bought a 300K home in 2006, only to watch its value plunge to 120K is really just in the wrong state of mind? He really put his money in the right place?
Somebody just moved way up in the stupid quotes of the year category!
- gabepal
- Contributions:57
Reaching the bottom is a state of mind. It was always about a choice of lifestyle of and what one can afford.The choices of owning vs renting explains that theory.Simply put who is your landlord and do you care? The choices in renting from a typical landlord is simple. When your year lease runs out you move.
Not so if your landlord is the Bank. Yes you heard me right . The illusion of ownership is what has been confused over the years.
How can one pretend to own a car that is not paid for any differently than leasing a car? It is ploit that comes down to PRIDE.
Before there were mortgages in days of old. People paid for homes that they could afford.It seems difficult to imagine they were actually paid for when your parents or grandparents moved in.
They were typically small and served a practical purpose. The emphasis is on the word "practical" and "purpose" which is missing from our vocabulary today. Most of us know the theory behind ammortization of a 30 year morgage. If you have carried a $100,000 mortgage for thirty years your LANDLORD the Bank has made approximately $215,000 on on the total pricipal and interest paid back. If you are looking at the bottom line it has always stared you in the face. It was by choice a commitment for 25 years or more you signed away .Have you considered the consequences? In times past the hope of getting out of a mortgage where there were buyers seeking to become part of the dream was possible. The Landlord has changed the rules. Mortgages became NOT assumable. Did you ever ask why?
The Landlord wanted the piece of the pie. The greed to earn more from refinancing, (points, attorney fees), closing costs as they were called became the acceptable practice of the LANDLORD " the bank" The falsely created inflation drove the prices of homes up and up .It created a generation of gamblers and casinos out our homes.
Are you suprised of the outcome?
Our grand parents purchased their modest homes to avoid dealing with the landlord. The housing market will continue to fall till the reality of affordability and job security provides our generation the right to own by saving and afford to own vs to rent. Prices are not falling. It is a final response to a lesson learned and truth realized of FAIRE MARKET VALUE.
Banks and mortgages have a place in our society. I understand that they need to make a profit for services they provide. My concern is how they go about it and at what cost to the consumer. Until that isregulated and changed the responsibility is back to basics. Choose your Landlord carefully. As a last word I still prefer to drive that paid for Volks Wagon than the leased Lexus. It is after all a perception of success. The key is safe in my pocket no one is there to take it from me. I guess that says it all.
Real Estate will be always the right place to put your hard earned money. As long as there is serious consideration, responsibility for the potential risk of a long term comitment.. Ownership will provide you and your family a purpose of a dream realized for a place called home.
America is my home and the grass is greener here with opportunities than anywhere else in the world. Perhaps you need to travell and compare why we are the envy of other societies.
.
Not so if your landlord is the Bank. Yes you heard me right . The illusion of ownership is what has been confused over the years.
How can one pretend to own a car that is not paid for any differently than leasing a car? It is ploit that comes down to PRIDE.
Before there were mortgages in days of old. People paid for homes that they could afford.It seems difficult to imagine they were actually paid for when your parents or grandparents moved in.
They were typically small and served a practical purpose. The emphasis is on the word "practical" and "purpose" which is missing from our vocabulary today. Most of us know the theory behind ammortization of a 30 year morgage. If you have carried a $100,000 mortgage for thirty years your LANDLORD the Bank has made approximately $215,000 on on the total pricipal and interest paid back. If you are looking at the bottom line it has always stared you in the face. It was by choice a commitment for 25 years or more you signed away .Have you considered the consequences? In times past the hope of getting out of a mortgage where there were buyers seeking to become part of the dream was possible. The Landlord has changed the rules. Mortgages became NOT assumable. Did you ever ask why?
The Landlord wanted the piece of the pie. The greed to earn more from refinancing, (points, attorney fees), closing costs as they were called became the acceptable practice of the LANDLORD " the bank" The falsely created inflation drove the prices of homes up and up .It created a generation of gamblers and casinos out our homes.
Are you suprised of the outcome?
Our grand parents purchased their modest homes to avoid dealing with the landlord. The housing market will continue to fall till the reality of affordability and job security provides our generation the right to own by saving and afford to own vs to rent. Prices are not falling. It is a final response to a lesson learned and truth realized of FAIRE MARKET VALUE.
Banks and mortgages have a place in our society. I understand that they need to make a profit for services they provide. My concern is how they go about it and at what cost to the consumer. Until that isregulated and changed the responsibility is back to basics. Choose your Landlord carefully. As a last word I still prefer to drive that paid for Volks Wagon than the leased Lexus. It is after all a perception of success. The key is safe in my pocket no one is there to take it from me. I guess that says it all.
Real Estate will be always the right place to put your hard earned money. As long as there is serious consideration, responsibility for the potential risk of a long term comitment.. Ownership will provide you and your family a purpose of a dream realized for a place called home.
America is my home and the grass is greener here with opportunities than anywhere else in the world. Perhaps you need to travell and compare why we are the envy of other societies.
.
- anything11
- Contributions:17
We are getting to it, it will be a slow unwind, with other effects such as inflation, local up and down turns, as well as wage growth (currently negative), higher property taxes, etc.
i.e. Here in Wisconsin it is not uncommon for people to be literally property taxed out of their homes.
i.e. Here in Wisconsin it is not uncommon for people to be literally property taxed out of their homes.
- Harry Brannan, ABR, GRI, "Harry Brannan"
- Contributions:108
Let us not forget that when we reach the bottom depends on where we are located.
The values in some areas had a much higher inflation than others.
The values in some areas had a much higher inflation than others.
are we in the bottom of the housing recession yet?
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.