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How has the value of your house changed?


Randomguy
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It has increased, but if you guys remember we bought at the top of the bubble last time.  We are still under the value of what we dumped into this thing. It was a money pit for a while.  

Our homes aren't worth anywhere near 300K.  There are fancier homes here in that range, but we refuse to pay that kind of cash for a roof.  We prefer modest homes.  Less taxes, less to upkeep and less to clean.  

I saw this adorable home plan for a container home.  It was not in the range of size that our property CCRs will allow though.  I sort of wonder if they would grant us an exception to the 990 sq ft size.

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4 minutes ago, bikeman564™ said:

I bought my condo in 2005 for slightly under market value. After that is when all went to hell. The bottom was around 2010 when the value dropped to ≈1/2 of my purchase price. Prices are rising and if were to sell it today I could walk away w/ cash, but I still can't get my original price.

This.  The price we paid was low, but we funneled so much cash for the remodel.  

Oh well.  We love our location.  It is really close to work, play and grocery.  We don't have to drive to any of them, if we prefer not to.  I love that about our home. 

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I bought high in 2003...tanked and recently recovered enough to dump my PMI :cheerleader: debatable as to if I could sell it for what I paid for it..or a little more..new siding, windows and flooring since I bought.

On the plus side 2 bedroom with a garage, mortgage and association fees still less than renting....

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Bought 6 years ago at the absolute bottom of the burst market. Paid an exceptional price and currently home values in our area have gone beyond the bubble pricing of 2010. 

Our house has essentially doubled in price from our purchase price. We have no plans to take any equity out nor sell so the valuation is purely academic. 

I sure can dream about the potential 300k in cash we could walk away with ?. But where would we go that would offer the same living, safety, access to education for our daughter, and developing, thriving markets? So we sit tight and know our mortgage cost for almost 3000 sq ft is the same as a 900 sq ft apartment here.

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We bought in 1996. Place was a bit dated so we got at a good price. We have remodeled most of it. It needs a bit of exterior TLC. Even so, it has at least doubled in value. Our city has a housing shortage they estimate will continue for 15-20 years. We will be exploring our options to relocate in the next few years. We found a city in the Phoenix area that would be a near lateral move. Things to think about. 

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1 hour ago, goldendesign said:

Bought 6 years ago at the absolute bottom of the burst market. Paid an exceptional price and currently home values in our area have gone beyond the bubble pricing of 2010. 

Our house has essentially doubled in price from our purchase price. We have no plans to take any equity out nor sell so the valuation is purely academic. 

I sure can dream about the potential 300k in cash we could walk away with ?. But where would we go that would offer the same living, safety, access to education for our daughter, and developing, thriving markets? So we sit tight and know our mortgage cost for almost 3000 sq ft is the same as a 900 sq ft apartment here.

We were in the same boat 15 years ago. We bought at the bottom of the previous bust and saw home prices triple over a 10 year period. We could have bought outright on equity but would have to leave the area to do so.  We stayed as we like the area for the same reasons you note, didn't leverage equity and are rightside about $400K at the moment. 

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15 minutes ago, Chris... said:

We bought our house back in 1991. My wife has spent more money on it than we paid for the house. It appraised at around the sum of all those "improvements" 

So if you sold now, you would have essentially lived in a nice house for a long time for free?

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I'm a little bothered by the values claimed in the map.

A little research shows the avg. home values are MEAN, not MEDIAN values, so Maryland's average is inflated by the fact that 1 out of every 40 homes is worth more than $1.1 million! Maryland's median is closer to $250K in the most recent articles I've read, and even the source of the $312.5K shows that 9.2% of homes are between $0 and $113K, 21.2% between $113K and $227K, and 26% between $227 and $340.  That's 56.3% of all homes!  The all-time high in Maryland, according to the same distorted numbers, was $289.9K in June 2007, so the price is MORE now, based on the article's claims than in 2007, not down by 9.9%. Maine's avg. house costs $191,200???  My brother-in-law inherited property there that he sold recently and I've spent some time vacationing with him in his home state.  I would have guessed $125,000.  I know of people who retired from Maryland to Maine because of the much cheaper housing there.

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We try to keep in mind that without the "bubble" we wouldn't have been able to buy this house in the first place - in 2005 we sold our first house for $90K more than we paid in 2001.  Our "net" is still in the black.

NJ is listed at -10% on the map - I think we'd be lucky to sell for -15% based on other sales in the neighborhood.  But as long as we have no intention (or need) of moving I'm not going to sweat it. 

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I would have to guess my house lost a little more than 10% since the bubble.  But it's worth at least 4x what I bought it for in '84.  If you take out what we put into it, probably still over a double.  Would be more but we outbuilt the neighborhood.

But it won't matter until it's the kids' problem, I'm not moving

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That chart shows CT as expensive as it is because the south west part of the state is probably 10 times as high as the rest.  Greenwich CT and environs are among the most expensive land in the world.

That's the place you go to sell BMW's........to the servants.

The median price for a single-family home in town was $1.7 million in 2006, when about 140 properties sold for $5 million or more,

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Interesting chart.  I personally find it of little value since the 10 year period covers both a recession (big time recession in housing) and several years of recovery.

We sold a house in 2010 and took a hit but still had some good equity buildup from it's purchase in 2001.  At the same time the house we bought was purchased in 2010 at a recessed value for the same reason.  It really was an equity swap.  Since 2010, home prices in our area have gone up considerably.  We have not had our home appraised since we purchased it but I have no reason to believe that the value has not increased quite a bit.

 

 

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Houses in my neighborhood...and thus an indicator for my home value...have retraced to where they were about the time of the bubble burst. While built in 1973,  I purchased in 1993 and has appreciated in value about 3x in value. I looked at the property appraisers web site that had sales history. In 1973, it sold for $35,000 where the house across the street is lakefront originally sold for $45,000. Today, that house is probably double mine.

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5 hours ago, maddmaxx said:

That chart shows CT as expensive as it is because the south west part of the state is probably 10 times as high as the rest.  Greenwich CT and environs are among the most expensive land in the world.

That's the place you go to sell BMW's........to the servants.

The median price for a single-family home in town was $1.7 million in 2006, when about 140 properties sold for $5 million or more,

...my roommate at Great lakes Hospital Corps School was some rich kid from Greenwich who had been a tennis bum on the tour before it was either join or get drafted.  He was basically useless, and I figured after the navy he went back and joined the family business or worked for some financial or investment firm.  Tits on a boar hog would be an overestimate of his utilitarian skillset.

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1 hour ago, No One said:

...my roommate at Great lakes Hospital Corps School was some rich kid from Greenwich who had been a tennis bum on the tour before it was either join or get drafted.  He was basically useless, and I figured after the navy he went back and joined the family business or worked for some financial or investment firm.  Tits on a boar hog would be an overestimate of his utilitarian skillset.

He is probably hedging his bets today.

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On 12/5/2018 at 6:16 AM, bikeman564™ said:

I bought my condo in 2005 for slightly under market value. After that is when all went to hell. The bottom was around 2010 when the value dropped to ≈1/2 of my purchase price. Prices are rising and if were to sell it today I could walk away w/ cash, but I still can't get my original price.

Yeah, I worry about this too.  I bought pretty high so when the downswing occurs I may have to wait it out -- and I could be dead by then.

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5 hours ago, Dirtyhip said:

Housing is trending down now.  I am really looking forward to this close.  It could not come at a better time.  It should close, but I am not counting any chickens just yet.  This is nerve wracking.  

They are somewhat, yes.  But you'll be ok. I'm still reading that they'll still be going up in the long term but just not at the accelerated rate.

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