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How Much Has Your Houses Value Depreciated?

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  • jannino
    replied
    i bought a foreclosure a couple years ago for 500K.. it's worth about 975K. the guy was a builder who borrowed against it like crazy.. the bank has since been shut down by the FDIC. i practically stole it. it was strictly for an investment.. i will be flipping it soon so i can move and be settled before my little one starts going to school

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  • Retired96
    replied
    My son lives in the Coachella Valley ( La Quinta, Palm Springs, Palm Desert etc). There are beautiful luxury homes in closed gated communities on world class golf courses that 3 years ago the homes were selling for 3-5 million dollars....Now you can buy some of the homes for 800k to 1 million....These are homes up to 5000 square feet on 1 acre lots with every luxury amenity you can imagine.....The forclosure rate is unbelievable.

    Leave a comment:


  • CPDEMT
    replied
    Northern California - Parents bought house brand new in 1987 for $125k. At height of housing boom few years ago, valued at $525-550k. Today value is around $250-300k.

    Leave a comment:


  • Neverwas..
    replied
    Originally posted by COASTIE01 View Post
    Just curious how bad this economy is hitting everyone because I looked up my houses value according to Zillo today and wow was I shocked. In the 3 years I have lived here it has dropped 28% which amounts to $75,000. That sucks for me but in the past 6 years its has dropped over $300,000 . This economy blows!!!!
    After 11 and a half years of paying on it.. the county says that as of now we are at just about what we owe on it! WooHoo!!!! Michigan Rocks!!!

    Leave a comment:


  • Michigan
    replied
    Originally posted by COASTIE01 View Post
    Just curious how bad this economy is hitting everyone because I looked up my houses value according to Zillo today and wow was I shocked. In the 3 years I have lived here it has dropped 28% which amounts to $75,000. That sucks for me but in the past 6 years its has dropped over $300,000 . This economy blows!!!!
    Dropped around $50,000 since I bought it 3 years ago.

    Leave a comment:


  • SBSO_DISPATCHER
    replied
    I bought my brand new home last year... I belive it has increased in value

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  • Bounce
    replied
    Originally posted by LA DEP View Post
    Even with the housing market in the tank, 200K MIGHT get you a fixer upper somewhere deep in the hood here in SoCal. Average price for a house in a decent area is 400K plus in the LA area.
    yeah... my great uncle's place in CA was not as nice as my mom's $60k house (about the same sqft wise) yet it was a $250k house out there. that was before every middle schooler became a "real estate agent" in the 90's and things got truly insane. the current adjustment had to happen since that kind of market can't sustain. with ever-increasing taxes, cost of living, job migrations and more, it can't be a good feeling being caught there without an out.

    retirement planning is best when done in advance. i waited too long so can't retire until the house is paid off in 2017.
    Last edited by Bounce; 03-31-2011, 12:04 AM.

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  • David Hineline
    replied
    I paid 76K 15yrs ago it would bring around $120 today.

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  • deputy x 2
    replied
    Calee- 1993 I bought my 975 sq ft house for $145K.....two years ago they were selling like hot cakes for $615K...I sold it last year for $340K.

    Should have sold it two years ago and rented....should have moved my Def comp into "safe" mode....shoulda woulda coulda.....sheeeott!


    Bought here in the NY woods for $140K in 2005........can't touch one with lakefront for less than $400K. Wouldn't part with this for anything...
    Last edited by deputy x 2; 03-30-2011, 11:13 PM.

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  • stormz5192
    replied
    Lost about $40,000 in equity, but still above what I paid.

    Leave a comment:


  • John0397
    replied
    it's sad, but here the city council is talking about raisiing the property tax rate, but because of the decline in my assessment I will pay less in property taxes even at the higher rate.

    Leave a comment:


  • JasperST
    replied
    I bought mine in '99 and it's assessed at (according to the county... LOL) $50k more. It's dropped down at bit but the taxes are more than ever.

    Leave a comment:


  • Iowa #1603
    replied
    Mine hasn't changed much................but is actually up.

    Of course the 6 acres in the country-----------------25 miles from a 250,000 population center------is very attractive. There is a housing development right across the road from me

    In the development the lots run about $60,000 for 1.2 acres BARE lots.

    I bought the house and 3 acres in 1990 for $30,000.............then put 80,000 into remodeling. And bought 3 more acres..................

    Leave a comment:


  • 10-7Alpha
    replied
    Bought a foreclosed property 3 bed 2.5 bath 2500sq ft for 98k... Zillow rates it at 148k. Realistically I could flip it for 135k right now.

    So no decrease here.

    Leave a comment:


  • John0397
    replied
    I bought my little townhouse for $49,500 in '98, it went up to an assessed value of $131,000 a few years ago, the next fiscal assesment is around $122,000

    Leave a comment:

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