I checkout some open house the past Sunday. Sellers are still expecting unrealistic prices for their POS box house. $640k for a 1900sqft mid-80’s park village house with small lot. I just laugh and walk away. Talked with the seller agent, even she thinks the seller is out of whack. I told her, the house won’t attract any buzz unless it goes down to $500-550k max. She agrees. Oh well. Patience.
By the way, as I have sold my house 1 year ago and happily renting a house at RB right now, I become less and less wanting to buy into the mortgage trap. I mean, come on, why buy a POS depreciating house when I can make the most of my money investing in stocks/bonds/CDs?
Don’t you know that buying a house nowadays really mean “long term” renting anyway? You do know that the house is not really yours until you pay it off, right? Also, if you are looking for equity, sorry, you are looking at the wrong place. You won’t have any in this post-bubble housing market. I just lose all reasons to buy a house at this point. 🙂
