Join Early Retirement Today
View Poll Results: Has Your Home's Value Rebounded?
YES - doing a happy dance!! 51 42.15%
NO - not happy about it!! 44 36.36%
Never really depreciated since 2005 23 19.01%
Don't own a home 3 2.48%
Voters: 121. You may not vote on this poll

Reply
 
Thread Tools Search this Thread Display Modes
Old 06-05-2013, 03:54 PM   #21
Recycles dryer sheets
Willers's Avatar
 
Join Date: May 2013
Posts: 480
Although home values in our city weren't affected significantly by the downturn, my specific neighborhood was. I bought the house as a great place to live (on a lake) rather than an investment. That was the first time I'd ever done that. It's worth about what we paid for it, but 30% less than the purchase+rehab investment. The worst investment I've ever made, but I don't regret it.
__________________

__________________
Willers is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 06-05-2013, 04:29 PM   #22
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 16,512
Another one who doesn't fit - we purchased our home in 2010, so it never went down! Didn't own a home 5 years before that - having sold the prior house in 2005.
__________________

__________________
Well, I thought I was retired. But it seems that now I'm working as a travel agent instead!
audreyh1 is online now   Reply With Quote
Old 06-05-2013, 04:47 PM   #23
Full time employment: Posting here.
 
Join Date: Mar 2011
Posts: 534
Quote:
Originally Posted by toreornot View Post
I'm listing the home I bought in 2010 next week. I bought it during the federal home buying incentive, and the value dropped somewhat (10%) right after the expiration of the program. Apparently it has come back strongly over the last 6 months or so - 4 real estate agents I interviewed suggested a valuation between 33% and 48% above my purchasing price. I know it sounds crazy, but this is California and the comps the realtors brought in are very convincing.
I've seen similar craziness here. I had three real estate agents give me a ballpark estimate last September. The same three came back in late January and upped their September estimates by several hundred thousand dollars. The market for large apartments and townhouses here has been insane this year.

The NYT runs an article every couple of weeks about how crazy its gotten, here was Sundays:

http://www.nytimes.com/2013/06/02/re...ml?src=me&_r=0
__________________
jon-nyc is offline   Reply With Quote
Old 06-05-2013, 05:12 PM   #24
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
clifp's Avatar
 
Join Date: Oct 2006
Posts: 7,451
I use an average of Zillow, Trulia, and my property assessment.

I think it dropped 20% from the top back in spring 2008 and it has gone back up 10%.
__________________
clifp is offline   Reply With Quote
Old 06-05-2013, 05:16 PM   #25
Thinks s/he gets paid by the post
ls99's Avatar
 
Join Date: May 2008
Posts: 4,792
Missing the option: don't care, I'm not moving.
__________________
There must be moderation in everything, including moderation.
ls99 is offline   Reply With Quote
Old 06-05-2013, 05:28 PM   #26
Recycles dryer sheets
Beryl's Avatar
 
Join Date: Jun 2007
Posts: 413
Quote:
Originally Posted by ls99 View Post
Missing the option: don't care, I'm not moving.
That is what my uncle always says.

I'm not moving either but I'm one of those folks who cares about others. It chaps my rear that my niece lost her money and credit rating by listening to doomsayers. It also bothers me that so many neighborhoods were hurt by what I think were unnecessary foreclosures.
__________________
Retired - Class of 2011
Beryl is offline   Reply With Quote
Old 06-05-2013, 05:35 PM   #27
Thinks s/he gets paid by the post
Katsmeow's Avatar
 
Join Date: Jul 2009
Posts: 3,399
Can't really answer. I've only owned this house a year. I do think it has gone up some in value over the last year but I didn't answer the poll since I didn't own this house before the recent unpleasantness...

That said, in this area, inventory is very low. In the several counties in and around the major city supposedly inventory is at a 13 year low. Number of houses for sale is way below where it was a year ago.

I just did a search in my subdivision of what is available now compared to when we went under contract to buy in January 2012. Supposedly January is a time of low inventory and June is high inventory but there are far fewer houses available for sale.

That said, last summer I noticed few houses being built in this subdivision. This is a subdivision of custom homes with no one builder. Right now, just on the couple of streets I regularly drive on there are (or have been within the past couple of months) 5 houses being built.

Prices went down in this area (we sold our old house 2 years ago for about 10% less than we bought it for in 2007) and our current house we paid less for it that the sellers paid for it. I think this house is now probably back to what the sellers paid for it, maybe a little above.
__________________
Katsmeow is offline   Reply With Quote
Old 06-05-2013, 05:44 PM   #28
Thinks s/he gets paid by the post
 
Join Date: Mar 2009
Location: Pittsburgh, PA suburbs
Posts: 1,769
I purchased my newly built house in 2004. I think if I put it on the market today, I would have a 10 percent loss judging from recent comparables. It is a pretty ordinary house in an average neighborhood, and I have done nothing to improve it (other than routine maintenance) since I bought it.
__________________
WhoDaresWins is offline   Reply With Quote
Old 06-05-2013, 05:53 PM   #29
Recycles dryer sheets
 
Join Date: Aug 2010
Posts: 322
I said yes. I do care as I have an end-game planned in about 5 years. IF the rest of the plan falls into place, the net off of this house could fund a year+ earlier retirement.

So I'm happy prices have rebounded now, but I mostly want them to hold or improve in the 5-year range.
__________________
"Time wounds all heels...." - Groucho Marx
LRDave is offline   Reply With Quote
Old 06-05-2013, 06:07 PM   #30
Recycles dryer sheets
 
Join Date: May 2011
Location: Twin Cities
Posts: 434
In the Twin Cities homes were down around 25% from the peak of 2005/6. In the past 18 months they have gone up around 15% so we are still below the peak.

I have purchased 9 rental townhouses in the past 2 1/2 years.

I paid less than 1/2 of what they had sold at during the peak (townhouses were really impacted and these were all bank owned or short sales). Recent sales seem to indicate that they have rebounded by 25% in total so that's a good thing since I am really just counting on the cash flow.
__________________
Fishingmn is offline   Reply With Quote
Old 06-05-2013, 06:37 PM   #31
Thinks s/he gets paid by the post
obgyn65's Avatar
 
Join Date: Sep 2010
Location: midwestern city
Posts: 4,061
I bought a condo in 2008. Small, functional but in a nice area. My first real estate purchase ever. I never considered it as an investment. Now I guess it's down 20 or 30 percent.
__________________
Very conservative with investments. Not ER'd yet, 48 years old. Please do not take anything I write or imply as legal, financial or medical advice directed to you. Contact your own financial advisor, healthcare provider, or attorney for financial, medical and legal advice.
obgyn65 is offline   Reply With Quote
Old 06-05-2013, 07:08 PM   #32
Moderator Emeritus
Bestwifeever's Avatar
 
Join Date: Sep 2007
Posts: 16,375
Quote:
Originally Posted by ls99 View Post
Missing the option: don't care, I'm not moving.
I would have voted this too.

It's 10+ years since a house on my block sold.
__________________
“Would you like an adventure now, or would you like to have your tea first?” J.M. Barrie, Peter Pan
Bestwifeever is offline   Reply With Quote
Old 06-05-2013, 07:26 PM   #33
Full time employment: Posting here.
 
Join Date: Jan 2011
Posts: 575
Missing an option: Value went up (per realtor) and I am not happy with it.
Why would I be? I am not selling and the tax assessment will just go up costing me money.
__________________
KingB is offline   Reply With Quote
Old 06-05-2013, 07:36 PM   #34
Full time employment: Posting here.
ShortInSeattle's Avatar
 
Join Date: Jan 2012
Location: Seattle
Posts: 517
Quote:
Originally Posted by KingB View Post
Missing an option: Value went up (per realtor) and I am not happy with it.
Why would I be? I am not selling and the tax assessment will just go up costing me money.
Same here. We bought almost 2 years ago & we're up 18%. No plans to sell so we're just waiting for the property tax hit.
__________________
ShortInSeattle is offline   Reply With Quote
Old 06-05-2013, 09:50 PM   #35
Recycles dryer sheets
kmt1972's Avatar
 
Join Date: Mar 2013
Location: Scarsdale
Posts: 175
We bought our house for $685K in Jan 2007 at significant below market value from a Relo Firm. It was worth around $760K at that time. The value then went down to around $650K by the end of 2009. It is back up to around $720K and will most likely rise the next couple of years.
__________________
"There are no solutions...there are only trade-offs." - Thomas Sowell

Looking to retire or semi-retire by 45 based on our net worth going to $6 million outside our house.
kmt1972 is offline   Reply With Quote
Old 06-06-2013, 02:27 AM   #36
Full time employment: Posting here.
 
Join Date: Mar 2011
Posts: 534
Sounds cheap for Scarsdale.
__________________
jon-nyc is offline   Reply With Quote
Old 06-06-2013, 05:30 AM   #37
Recycles dryer sheets
kmt1972's Avatar
 
Join Date: Mar 2013
Location: Scarsdale
Posts: 175
Quote:
Originally Posted by jon-nyc View Post
Sounds cheap for Scarsdale.
True. We have large townhouse which is attached to another unit on one side with a significant yard. If we were detached with the same size and yard I figured it would be worth about $950K. When my DW and I bought this back in 2007 we decided on utility versus resale value on the premise we would be here for a while and wanted a lower real estate tax bill. The real estate tax bill has shot up last couple of years since the phasing out of STAR for households of income over $500K. Arrrr.
__________________
"There are no solutions...there are only trade-offs." - Thomas Sowell

Looking to retire or semi-retire by 45 based on our net worth going to $6 million outside our house.
kmt1972 is offline   Reply With Quote
Old 06-06-2013, 06:07 AM   #38
Recycles dryer sheets
 
Join Date: Nov 2011
Posts: 127
Not too concerned about property values one year to next. We own free and clear but never have seriously considered our house part of our portfolio or even net worth. Just a nice place to keep our stuff.

Have seen far too many friends treat their house as their primary retirement plan - big mistake in our view. With this latest market I'm sure many are updating their net worth spreadsheet with every uptick. Not interested in deceiving ourselves in that way.
__________________
Malcolm2 is offline   Reply With Quote
Old 06-06-2013, 06:18 AM   #39
Moderator
Walt34's Avatar
 
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 16,571
Ours is back up to about what we contracted to pay for it in Sept. 2001, two days before 9/11. We didn't actually settle/move in until a year later. So while we're not exactly doing the happy dance it's nice that we won't take a beating on it either.

And yes we will eventually sell it. Seeing what our parents went through we believe that sure as tomorrow's sunrise (although hopefully not quite so soon) the day will inevitably come when we physically cannot keep it up.
__________________
I heard the call to do nothing. So I answered it.
Walt34 is offline   Reply With Quote
Old 06-06-2013, 06:42 AM   #40
gone traveling
 
Join Date: Jun 2012
Location: Austin
Posts: 245
I've got two frames of reference:

Lake House: Built in 2003 and appraised for $380K. After several improvements over the past decade, only appraised for $420K earlier this year. This week, I successfully convinced the county appraiser to lower the tax appraisal to $355K, an 8% drop from last year's valuation. The drought and dried-up lake are killing values. I've had it on the market for almost 3 months, currently at $399K and not a single offer. If mother nature would put water back in the lake, I'd be seeing multiple offers over $500K. But she hasn't and I'm not.

Primary Home: 28 miles on the other side of Austin, 3350sf REO foreclosure purchased in 2009 for $195K appraised two months ago for $265K and is expected to increase 8% over the next year.
__________________

__________________
LakeTravis is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Mobile Homes... and like that imoldernu Other topics 25 07-26-2012 10:07 AM
One Year Homes yakers Travel Information 37 12-07-2011 01:35 PM
when will my home's value go up again? dooo42 FIRE and Money 74 11-14-2011 02:58 PM

 

 
All times are GMT -6. The time now is 07:03 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.