Jump to content
Member? but forgot everything, can't log in... Frozen out??? ×

THIS IS A POLITICS-FREE ZONE.

Impact of the housing market, post your Zillow graph here

nyrfann

By nyrfann,
in Credit Forum

 Share

The last post in this topic was posted 1076 days ago. 

 

We strongly encourage you to start a new post instead of replying to this one.

Recommended Posts

toopooor

toopooor

Posted
Posted
Remember, the value is only what somebody is willing to put money on. I find these shows on TV humorous, such as "My House is Worth What?" Even in this market, they give these homeowners, often, very inflated data. Just because somebody says the house is worth 1.2 million, doesn't mean somebody is willing to give you 1.2 million for it =)

 

Don't get me wrong, I hope my home doesn't nosedive in value, but no need in worrying about it. There is very little I can do about foreclosures in my neighborhood that will cause my value to decrease drastically until they are all occupied again.

 

There are a lot of values - what its worth (tax, refi, insurance, rebuild value etc) and the sale price. You could build the ugliest 2M house imaginable and if no one wants it, the sale price will be well under its true worth.

 

our house is taxed at 224, insured for 248, bought for 195, appraised for 208... if we had to sell in a hurry it would probably go for 180ish. It's costing me less than rent so i don't care what the value is, although i would like to refi but don't think i have enough equity to do that. :D

Link to comment
Share on other sites

toopooor

toopooor

Posted
Posted
Every one thinks their house is worth more... and they are not willing to accept the reality.

we looked at a lot of houses when we bought - i thought most were overpriced by 20K +. We were new to the area and looked at the houses without blinders on - i wasn't swayed by school districts etc. Our realtor thought our ideas on what houses were worth was low for the area.

 

We low balled one and the seller refused to counter, said the offer was too low. We walked... I was willing to pay up to 204 for it (one bath needed remodeled, the washer/dryer was in the basement, a few other things were turn offs) and knew she wouldn't come down low enough (we offered 195) - the listing price was 225. Last i knew, she had it on the market for 199 and it didn't sell. It might be a long time till she gets 204 for it now. :ph34r:

 

The same weekend she told us to resubmit a higher bid, this house was reduced to what we felt was a good price and we scooped it up. It's 20 yrs newer (about 200sf smaller), in a quieter location just off the lake shore and we paid 10K less than i was willing to pay for the other house.

Link to comment
Share on other sites
MWB

MWB

Posted
Posted

How do you make these charts? I can't find it anywhere on Zillow. Although it has our home value as $147k from the accessed value. We bought it about 1.5 years ago for $165k. At that time it appraised for $170k, and had an accessed value of like $115k so the numbers are all over the place.

 

Looking to refi though, so I should have an accurate price in the near future.

Link to comment
Share on other sites
drab

drab

Posted
Posted

If you live in rural area and want a comp based value you can try realquest.com. I recently had a real appraisal for a refinance and the value it listed on realquest was within a couple thousand dollars of the real appraisals value. YMMV of course but my zillow value was way off and always has been. The realquest site is fun to play around on. You don't have to sign up or anything. Just put in your address.

Link to comment
Share on other sites
  • 11 years later...
hdporter

hdporter

Posted
Posted
On 12/24/2008 at 12:04 AM, hdporter said:

zillow.gif

 

Wow!  Now that's an experience whose memory I had cauterized.  We put our house on the market in late 2011, with no meaningful activity the first 4 months.  Wound up closing at $375k, but the specter of something like $340k has seemed pretty real at one point.  Not a shabby result, all in all; we paid $125k in '91.

 

The eyeopener here is that my photobucket account is intact 11+ years later.  I haven't touched it in ages and truly thought it dust.

Link to comment
Share on other sites
cashnocredit

cashnocredit

Posted
Posted
1 hour ago, hegemony said:

seems we may need to dust-off this thread...

Might be dusty for a while. Real Estate sales activity is frozen, no inspections, offices closed, no home tours, etc. At least here in Calif.

 

But there's a bigger issue. The secured debt mortgage market is in chaos with prices plummeting. Until this settles out refi's and home sales with mortgages at any reasonable interest rate are going to be hard. Peeps that have closed recently are damned lucky in their timing.

Link to comment
Share on other sites
  • 1 year later...
centex

centex

Posted
Posted
5 hours ago, hegemony said:

HAHAHAHA 

 

Yruma said it completed an analysis of 650 homes in Zillow’s inventory, or about one-fifth of the homes owned, and found that 66% are currently listed below the purchase price at an average discount of 4.5%.

Flipping is really, really hard...

 

Oh wait...that was Tom Herman on the repetitive shortcomings at Texas when he would talk about winning. 

 

 

Link to comment
Share on other sites
hdporter

hdporter

Posted
Posted

I'm not prepared to post Zillow charts for the two houses we've been straddling for 2 years now, but if I were to start a new thread on the subject, the header would be (in true CB fashion), "Zillow's Tripping !!".

 

Unfortunately, it's not just Zillow.  I don't know who's paying these prices, but I worry about future prospects of the typical 30-year old ...

 

I now treat 20% of our net worth as "funny money" because it's been acquired through residential real estate appreciation in the last 24 months.  And that's coming from the perspective of a couple who are reasonably well positioned for retirement of both spouses in 5 years.  (Of course, I should be saying as much about an equivalent net worth boost from market gains in that time.)

 

I'm not making a "doom and gloom" call here.  But I really wonder if there will be much opportunity to grow one's wealth in the decade to come.

 

What I do know is that I've very recently doubled up in efforts to get our "former" house on the market ASAP!

Link to comment
Share on other sites

The last post in this topic was posted 1076 days ago. 

 

We strongly encourage you to start a new post instead of replying to this one.

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
 Share
Go to topic listing



  • Member Statistics

    • Total Members
      189098
    • Most Online
      2046
    AmoretteInvests
    Newest Member
    AmoretteInvests
    Joined

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.

Pages

×
×
  • Create New...

Important Information

Guidelines

  I accept