General Discussion

CountAllVotes

(22,216 posts)

3. the people across the street from me bought at the high

Wed Jan 25, 2012, 11:55 AM

Jan 2012

They paid $320,000.00 for the house and it is not that great of a house. Now it is worth less than $230,000.00 at best.

The owners of this house took out a huge loan (bought in 2005) and they are now underwater on it. They are angry is their status, not that I blame them.

That said, it seemed absolutely ridiculous to pay $320,000.00 for said house at that time to me. Apparently there was a list of people waiting to buy it at that time. Now there are no buyers.

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Has your home lost value? Do you think that banks are "just as scared as you?" [View all] yardwork Jan 2012 OP

I hope that remark was greeted with the hysterical laughter it deserved niyad Jan 2012 #1

He is so out of touch words can't express the distance. Stinky The Clown Jan 2012 #2

the people across the street from me bought at the high CountAllVotes Jan 2012 #3

I bought in a much lower price range. I thought I was being careful. yardwork Jan 2012 #6

you have my condolences CountAllVotes Jan 2012 #12

I agree about the rich propping up their own. If I had spent more my house might have devalued less. yardwork Jan 2012 #19

We'll know the banks are scared when Tansy_Gold Jan 2012 #4

Exactly. yardwork Jan 2012 #10

Romney's statement was tin-eared and oafish but essentially correct Nuclear Unicorn Jan 2012 #5

That's true up to a point but banks are also invested in the foreclosure industry. yardwork Jan 2012 #8

It only helps to invest in a product you can move Nuclear Unicorn Jan 2012 #15

Mine lost another $6000 last month. pamela Jan 2012 #7

I'm so sorry. I think that we are a huge silent majority. yardwork Jan 2012 #9

Thanks. We're lucky in a way. We still have equity. pamela Jan 2012 #13

If they're not scared, they're not paying attention. nt pinboy3niner Jan 2012 #11

My home value according to Zillow is down over 40% Broderick Jan 2012 #14

I won't even look at Zillow. Unless and until I have to sell, it's just better not to know. TwilightGardener Jan 2012 #22

I made the mistake Broderick Jan 2012 #23

I'm so sorry. yardwork Jan 2012 #25

It makes me feel stuck Broderick Jan 2012 #27

I feel exactly the same way. yardwork Jan 2012 #29

According to Zillow mine's worth $101K, I think it's really worth about 90 hobbit709 Jan 2012 #30

OUCH Broderick Jan 2012 #33

That's the other thing. The county values my condo at $20k more than its market worth. yardwork Jan 2012 #34

I bought mine in 1994. Even with the recent drop, it's still worth about 3.5 times what I paid. slackmaster Jan 2012 #16

Similiar here. Bought in '91. I will pay it off in March. ieoeja Jan 2012 #31

Nope no dish washing if no food to put on those plates unless someone gets the bright idea to sell lonestarnot Jan 2012 #37

my house has`t lost it`s value madrchsod Jan 2012 #17

That's good. Did you buy some years ago, when the prices were lower? yardwork Jan 2012 #20

yes i did. madrchsod Jan 2012 #35

I feel very fortunate... pipi_k Jan 2012 #18

I want the bankers to be as scared as hell. There needs to be a change in the system period and Lint Head Jan 2012 #21

Ours is still valued at twice what we paid, but only half of its pre-collapse high. Adsos Letter Jan 2012 #24

My house has lost a lot of value William769 Jan 2012 #26

They had better be afraid. It might be theirs one day soon. kcass1954 Jan 2012 #28

Doesn't make your situtation better, but here's some insight from 2008: sad sally Jan 2012 #32

We are fortunate in that DevonRex Jan 2012 #36

It really really sucks that people's savings and equity are dependent on basically when they bought, lonestarnot Jan 2012 #38

I would like that, too. DevonRex Jan 2012 #39