I'm I the only one experiencing this issue..........

[antomax]

Just bought this home in May for 395,000, was listed for 424,000. Houses in the same area are not selling at all for months, bigger houses than mine with spacious floor plans are listed for 440,000 and selling for 395,000 to maximum of 400,000. I'm so frustrated that these houses are selling for the same price I paid for my house. Houses like mine are now selling for 375,000 to 385,000 max. Is this issue will last long or soon will end, I started to feel so many regrets here, I could've bought my house for 370,000 and saved around 35,000 which about 400 extra payment a month. So many houses around for sale, people are negotiating prices down 30,000+. I know someone who purchased a home around the block 6 months ago for 376,000, he is facing a divorce and must sell, he put it up for 379,000 and it's been on the market for around 3 months and is not selling, not even one offer came through, one person offered him 320,000 and he turned it down, it's way below what he paid for the house, it seems that investing in buying a house turned to be waste of money if anyone bought in the last few months. Just curious to know if the buyer's market will last long and if anyone else is experiencing the same in their area. Thanks

[my4boys+1]

it's a sellers market here, I wish it were a buyers market.

[MBAmaterial]

I feel you Antomax. I bought my new construction condo in an upscale neighborhood for 235K. The builder has the nerve to start selling models (I'm sure different from the one I have) for the 190's. I was so livid when I saw that outside I almost had a cow. People are selling their 2003 models (like mine) for 215K. It's a great area; but geez! I guess I've planned to live here for 3 years at least so the value should go up in that time. If I get 250-260; I'm happy. But I understand; could've waited a few months and saved a ton of money. But shoulda woulda coulda. We have to make the best of it.

[jblackbu01]

UMFinAnalyst & Antomax, where are ya'll located?

[800score]

Automax, no need to feel regrets.....markets are cyclical and for all you know, prices will go back up soon. Unless you plan to leave soon, you'll be fine.

 

800s

[antomax]

I live in SOUTH NJ. Houses are selling a little more in Northern and central NJ.