Forum Replies Created
-
AuthorPosts
-
citydweller
ParticipantDCarlso1,
Tell us more about your situation. You sound very bitter about the posts here. Is it because the deflating of the real estate bubble has negatively impacted you, or will soon if it gets worse?
ParticipantThanks Perry for the links. I found more info at sdtretax.com, but don’t quite understand it. One says “supplemental tax bill per R&T code section 75…notice of value change on 3/8/06” the other says “escape assessment based on change of value for fiscal year 2005-2006…R&T prorated bill”
Would a refinance cause a reassessment?ParticipantWho is Casey Serin?
ParticipantBorat,
What are NINJA loans?
ParticipantHow can they “ban” foreclosures?
And if they do, wouldn’t that encourage everyone to just stop making payments? If you can’t be foreclosed on, why make payments?
ParticipantI have no intention of buying anything in the near or not so near future. I believe that when the market hits bottom it’s going to stay there for awhile, so really no need to rush in. Like others have said, I’m just going to sit back and watch for awhile.
ParticipantJWM in S.D.,
You’re right. According to Zillow, another 1 br at this location just sold for $200K. Is THIS the bottom? haha!ParticipantRealtor in Uptown,
Thanks for the info. I finally went to SDLookup.com, what a great site.So if it’s renting for $1100 per month, what would be a “sensible” price to pay, for someone who wanted to live there long term?
What’s the formula for figuring out the true value of a unit based on it’s rent potential?
ParticipantRealtor in Uptown,
So if these 2 units are now owned by the bank, does that mean they’ll be coming on the market soon?
Participantlindismith,
Do you know if they got 30 year fixed? I would be surprised if anyone these days would think an ARM is a good idea.IMO, the only buyers out there are people who have figured out how much they can afford, and want to buy a place that they plan to stay in for awhile, so will go 30 year fixed with no surprises. The old days of counting on 20% appreciation and refinancing in 3 years are behind us.
So it seems the pool of buyers will be shrinking rapidly.
ParticipantRockemsock,
Thanks for the link. But it only lists the street name, not the address. Do I have to subscribe to get all the info?Realtor in Uptown,
Sorry if this is a stupid question, but does that mean that both of those were foreclosures? And if so, why is the 2007 sales price so much lower than the 2004 price? Did these people put $100K and $80K down?ParticipantWow, I’m impressed, how do you just pull up a relevant article from 2002? And no, I’m not being sarcastic.
I was lucky enough to have purchased a 1br unit in this complex in 1998 for $58K. So yes, a 100% increase in 4 years would certainly signal a bubble. But to then double again in the next 4 years is just insane.
A 1br unit now rent for apprx. $1000 per month, so taking into consideration the $200 per month HOA fee, a reasonable price for one of these units would be around 120K
ParticipantIt’s been pretty obvious to me that the housing bubble has peaked and is on it’s way down. My question is, who is buying? Why would anyone buy right now? Whenever I see statistics that show that sales volume is declining, I’m just amazed that ANYONE is buying.
It’s obvious that all the investors/speculators have stopped buying, but is it first time buyers who are keeping the market alive at all?
ParticipantJWM
Ouch! I’m new here so cut me some slack. I was just repeating what my realtor said. “Oh, this is definitely the bottom, you should buy now before prices start going back up”
I’ve done some of my own research and there are currently 4 1BR units listed at this complex, 2 of them at 215K, 1 at 219K and one at $240K (good luck).
I agree with you that it will get much worse. The 1BR units were going for approx. $130K in 2002. Do you think we’ll see those prices again.
Also, I’m still curious as to whether the 2 units I mentioned before were foreclosures or short sales. How can I find out?
Thanks
-
AuthorPosts
