Poll: Has the value of your house dropped?

[Independent]

I voted but my answer is "Don't know. Don't care." I do not plan on moving for many years and I gotta live some place, so here it is.

ditto.

I do notice the listing prices on houses around mine, so I think I have a decent idea, but I really don't care. I live in it. If I move I'll have a sale and a purchase, so market movements aren't very important.

My vote was "no change". I live in a small town in Iowa that didn't catch the bubble.

 

[jIMOh]

Bought new construction $352k in 2005
just appraised for $262k today

refi to 4.25% was reason for appraisal.

 

[kcowan]

Having sold our townhouse and our SFH prior to the bubble bursting, we only hold our snowbird property in PV. It is down between 10% and 25% since we bought it in 2007 (ignoring exchange gains). We spend 7 months there each year and we are not going to sell it. Its market value might be an issue with our heirs.

For others who bought their vacation properties for speculative profits, there is plenty of suffering going on. There are 5300 properties for sale and YTD sales are only 300. And rentals are down because of 1) supply, and 2) fear of getting killed in Mexico. The first is real and the second is propaganda. But they both serve to depress the market for rentals.

 

[rescueme]

I voted but my answer is "Don't know. Don't care." I do not plan on moving for many years and I gotta live some place...

Yup ...

PS: I didn't vote - option not available...

 

[crispus]

Our home has gone down about 25%, but somehow with additional fees our property tax went up. What a crock of s..t.

 

[LOL!]

Our prop taxes have gone down because there are more homes in the area, so costs are spread out over more homeowners.

 

[Tesaje]

Mine is probably 40% less than the top of the bubble. All theoretical at this point but it still is worth 100k over what I paid for it in 1993.

 

[braumeister]

If I believed zillow.com, I'd have to say the value is down nearly 20%. However, that's based on the average of houses sold in the area, and our house is not at all typical, due to a number of factors. It's not a high end house by any means, just not like any other house in the neighborhood.

We have no interest in selling, but there's no doubt in my mind that when we do decide to move, we'll get a decent profit out of it.

 

[FANOFJESUS]

The house was bought for ~$22K in 1972.
Might not be worth more than that now.
In between? Don't know.
I live here.

Must be in the rough area of Denver.

 

[73ss454]

Our prop taxes have gone down because there are more homes in the area, so costs are spread out over more homeowners.

I'm sure you're not living in Florida.

 

[ls99]

Don't know.
We bought the place 4 yrs ago, have not had a reason to find out current market value. No intention of selling in the foreseeable future.

 

[LOL!]

Here is another informative housing related article: http://www.nytimes.com/2010/09/08/business/economy/08leonhardt.html

Is housing a luxury good and priced accordingly? Or is it a staple like food?

 

[audreyh1]

Not sure in our development. They raised the prices earlier this year and have still sold new homes to be constructed.

Of course we added so many upgrades, that I'm not sure if we would get the money back on some of them. But we don't care. We built this house for us to enjoy.

Audrey

 

[BUM]

Whose house went down more than 50%? Ouch!

Mine. Living at the beach we are feeling the extremes of both boom and bust. Adding salt to the wound, the county reevaluated taxes during the boom. But around here we're used to the salt.

 

[73ss454]

If they lower the value they'll just raise the rate, you can't win.

 

[Bimmerbill]

I think I could have sold and walked away with $100K or so. Now I think I can sell and break even (if that).

 

[vt74]

I am from Ontario, Canada and in recent news we are talking about the slow down in real estate market and a chance of the market bubble bursting.

I purchased my property in Feb 2000 before the market started to sizzle. At this stage my property is work about 2.66 times more than what I paid. My house is paid off so it does not matter if the market burst. I am actually hoping for it to burst as I am looking to buy.

 

[jimnjana]

Florida house is off about 60% from peak, tax value now is about 5% more than what we paid 10 yrs ago. GA house ? We are in the refi process, appraisal has been completed, we expect about a 10-15% decline from what we originally paid for it 8 yrs ago. SC property don't know. Do know that FL and GA real estate tax bills are headed lower again this yr.

 

[73ss454]

Don't be so sure about Florida, my value went down 45K and taxes went up 50 bucks. I also just read that our town tax was raised last night.

 

[jimnjana]

Don't be so sure about Florida, my value went down 45K and taxes went up 50 bucks. I also just read that our town tax was raised last night.

We received a statement from the tax collector with the new tax value and expected tax along with last yrs. Tax value is down over 30K, estimated tax is down between 200 and 400 dollars (two different values given based on whether or not budget changes happen).

 

[tryan]

Taxes are funny ... the town/city still needs the same amount to operate; who pays might vary.

At the lake they decided land owners had HUGE increases in value over the last three years. Sooo my neighbor (behind me) has 25 acres ... his taxes TRIPLED. Mine dropped 15%. (Yes he's fighting the increase).

 

[Milton]

The poll needs another answer option:

"I don't know ... because I don't day-trade my house, I rarely concern myself with its notional value".
​

 

[jimnjana]

Taxes are funny ... the town/city still needs the same amount to operate....

I think more and more taxpayers are questioning that. Just saw where a town with 90 residents is shelling out over a million bucks in salaries to town employees...

 

[W2R]

At the local real estate peak (post-Katrina), the home across the street from me sold. That home is the same square footage as mine, built the same year, and renovated about the same amount. So, that gives me a ballpark guess as to what mine was worth then.

I am guessing that mine is down around 17% compared with that value. Who knows? I have a good realtor who has been pretty straightforward with me in the past. He will provide me with some comps and tell me the bitter truth when I put my house on the market (hopefully later this year).

 

[Milton]

Just saw where a town with 90 residents is shelling out over a million bucks in salaries to town employees...

Can that be possible? That would imply that every man, woman and child is paying average annual municipal taxes of > $11,000 ... and that without any amount going towards equipment, road repairs or other infrastructure.

What is the name of the town?