General Discussion

pamela

(3,480 posts)

13. Thanks. We're lucky in a way. We still have equity.

Wed Jan 25, 2012, 12:23 PM

Jan 2012

We've bought it 14 years ago so even with the bad market, it's worth more than we owe. It's just scary to watch it continue to go down each month. It's so tempting to wait in hopes that it will recover a bit but then you risk having it go down even more. We had been counting on this equity to fund a semi-retirement dream and at this point I'm not sure it is enough.

We're lucky though. We're not at risk of losing it but after the ordeal we went through with the quake damage I just want out.

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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