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  • March 29, 2008 at 8:04 AM #178483
    vagabondo
    Participant

    Why is good credit important? Set aside all the financial and self work implication – there are other, more meaningful ramifications.

    The fact is, employers are increasingly using credit scores to filter prospective candidates. As we head deeper into this recession, the pool of qualified candidates will grow for each open position. If your credit history is sub par, you may be at a disadvantage when compared to your competition.

    March 29, 2008 at 12:15 PM #178137
    Tavo
    Participant

    “The other question is how much more is it gonna depreciate AND how how long will you have to sink 1k into it. It could be longer than 3 years.”

    Absolutely, those are the million dollar questions – no crystal balls on this site, but again, the most bearish forecast I’ve seen.

    Another idea I had to minimize my loss was to get my RE license (work the required hours for free if necessary) and write down more losses on my condo. I work in commercial real estate and am pretty confident I won’t have a problem getting my license. I just got my taxes done and there’s really minimal losses I can take because of my income. Does anyone know if I am looking at this incorrectly? I know, not asking for legal or financial advice…just advice.

    March 29, 2008 at 12:15 PM #178494
    Tavo
    Participant

    “The other question is how much more is it gonna depreciate AND how how long will you have to sink 1k into it. It could be longer than 3 years.”

    Absolutely, those are the million dollar questions – no crystal balls on this site, but again, the most bearish forecast I’ve seen.

    Another idea I had to minimize my loss was to get my RE license (work the required hours for free if necessary) and write down more losses on my condo. I work in commercial real estate and am pretty confident I won’t have a problem getting my license. I just got my taxes done and there’s really minimal losses I can take because of my income. Does anyone know if I am looking at this incorrectly? I know, not asking for legal or financial advice…just advice.

    March 29, 2008 at 12:15 PM #178506
    Tavo
    Participant

    “The other question is how much more is it gonna depreciate AND how how long will you have to sink 1k into it. It could be longer than 3 years.”

    Absolutely, those are the million dollar questions – no crystal balls on this site, but again, the most bearish forecast I’ve seen.

    Another idea I had to minimize my loss was to get my RE license (work the required hours for free if necessary) and write down more losses on my condo. I work in commercial real estate and am pretty confident I won’t have a problem getting my license. I just got my taxes done and there’s really minimal losses I can take because of my income. Does anyone know if I am looking at this incorrectly? I know, not asking for legal or financial advice…just advice.

    March 29, 2008 at 12:15 PM #178507
    Tavo
    Participant

    “The other question is how much more is it gonna depreciate AND how how long will you have to sink 1k into it. It could be longer than 3 years.”

    Absolutely, those are the million dollar questions – no crystal balls on this site, but again, the most bearish forecast I’ve seen.

    Another idea I had to minimize my loss was to get my RE license (work the required hours for free if necessary) and write down more losses on my condo. I work in commercial real estate and am pretty confident I won’t have a problem getting my license. I just got my taxes done and there’s really minimal losses I can take because of my income. Does anyone know if I am looking at this incorrectly? I know, not asking for legal or financial advice…just advice.

    March 29, 2008 at 12:15 PM #178593
    Tavo
    Participant

    “The other question is how much more is it gonna depreciate AND how how long will you have to sink 1k into it. It could be longer than 3 years.”

    Absolutely, those are the million dollar questions – no crystal balls on this site, but again, the most bearish forecast I’ve seen.

    Another idea I had to minimize my loss was to get my RE license (work the required hours for free if necessary) and write down more losses on my condo. I work in commercial real estate and am pretty confident I won’t have a problem getting my license. I just got my taxes done and there’s really minimal losses I can take because of my income. Does anyone know if I am looking at this incorrectly? I know, not asking for legal or financial advice…just advice.

    March 29, 2008 at 12:45 PM #178153
    sdnerd
    Participant

    Previous poster asked it, but I’ll repeat – what are the current comps on the condo & the house? And what were the prices at the peak?

    It would be beneficial to have a rough idea just how far prices have already fallen.

    March 29, 2008 at 12:45 PM #178509
    sdnerd
    Participant

    Previous poster asked it, but I’ll repeat – what are the current comps on the condo & the house? And what were the prices at the peak?

    It would be beneficial to have a rough idea just how far prices have already fallen.

    March 29, 2008 at 12:45 PM #178520
    sdnerd
    Participant

    Previous poster asked it, but I’ll repeat – what are the current comps on the condo & the house? And what were the prices at the peak?

    It would be beneficial to have a rough idea just how far prices have already fallen.

    March 29, 2008 at 12:45 PM #178525
    sdnerd
    Participant

    Previous poster asked it, but I’ll repeat – what are the current comps on the condo & the house? And what were the prices at the peak?

    It would be beneficial to have a rough idea just how far prices have already fallen.

    March 29, 2008 at 12:45 PM #178605
    sdnerd
    Participant

    Previous poster asked it, but I’ll repeat – what are the current comps on the condo & the house? And what were the prices at the peak?

    It would be beneficial to have a rough idea just how far prices have already fallen.

    March 29, 2008 at 4:56 PM #178207
    Tavo
    Participant

    “what are the current comps on the condo & the house? And what were the prices at the peak”

    Condo – originally purcashed “at the peak” for $350,000 now “valued” at $280,000

    Home – Previous owner purchased “at the peak” for $780k. I purchased in a short sale for $550,00. Now “valued” at $610,000

    I took comparable recent sales (w/in last 3 months) listd on zillow and estimated a value. I did not take the zestimate, but it was not far off…

    I am not a novice at this as I review commercial property appraisals for a living. I am pretty confident that those are current values of my properties. Future values, obviously, are harder to predict.

    What say you, Sdnerd?

    March 29, 2008 at 4:56 PM #178564
    Tavo
    Participant

    “what are the current comps on the condo & the house? And what were the prices at the peak”

    Condo – originally purcashed “at the peak” for $350,000 now “valued” at $280,000

    Home – Previous owner purchased “at the peak” for $780k. I purchased in a short sale for $550,00. Now “valued” at $610,000

    I took comparable recent sales (w/in last 3 months) listd on zillow and estimated a value. I did not take the zestimate, but it was not far off…

    I am not a novice at this as I review commercial property appraisals for a living. I am pretty confident that those are current values of my properties. Future values, obviously, are harder to predict.

    What say you, Sdnerd?

    March 29, 2008 at 4:56 PM #178575
    Tavo
    Participant

    “what are the current comps on the condo & the house? And what were the prices at the peak”

    Condo – originally purcashed “at the peak” for $350,000 now “valued” at $280,000

    Home – Previous owner purchased “at the peak” for $780k. I purchased in a short sale for $550,00. Now “valued” at $610,000

    I took comparable recent sales (w/in last 3 months) listd on zillow and estimated a value. I did not take the zestimate, but it was not far off…

    I am not a novice at this as I review commercial property appraisals for a living. I am pretty confident that those are current values of my properties. Future values, obviously, are harder to predict.

    What say you, Sdnerd?

    March 29, 2008 at 4:56 PM #178580
    Tavo
    Participant

    “what are the current comps on the condo & the house? And what were the prices at the peak”

    Condo – originally purcashed “at the peak” for $350,000 now “valued” at $280,000

    Home – Previous owner purchased “at the peak” for $780k. I purchased in a short sale for $550,00. Now “valued” at $610,000

    I took comparable recent sales (w/in last 3 months) listd on zillow and estimated a value. I did not take the zestimate, but it was not far off…

    I am not a novice at this as I review commercial property appraisals for a living. I am pretty confident that those are current values of my properties. Future values, obviously, are harder to predict.

    What say you, Sdnerd?

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