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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
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Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
s/o property values
Is this something that people usually worry about? Maybe its because I live in a rural area where land prices are skyrocketing, and I'd really love for my neighbor's land to sell for super cheap so we can buy it up (I really, really like only being able to see one house from my front yard).
Whenever I hear that as a reason to be concerned about something, my mind automatically goes to "I want a reason to be all up in my neighbor's business and judge them accordingly."
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Re: s/o property values
Is your question "are people really concerned about property values?"? If so my answer is "Duh."
We're kind of going out.
What is the context?
A neighbor's new window treatments? Whether they plant flowers you like? That is nosy.
A neighbor house became a meth lab or bordello? That is cause for concern.
(and yes, people are concerned about property values. Especially in a stagnant market).
What are you asking?
Should I not be upset about the fact that our house has lost nearly 40% of it's value since we purchased it? Or that our neighbor's house just sold for the price of a mid-range new car? Do you not see how that affects me in a negative way? It is most definitely NOT an excuse to judge anyone. It just really, really sucks.
This question has me a little flummoxed! Of course people worry about this.
I have friends how bought their house at the height of the market in the high $200's. Now, houses in their neighborhood are going in the high $100's/ low $200's. If they tried to sell- they make take a huge loss.
This is why so many people are underwater on their homes.
You really think people care only to judge their neighbors??
~Benjamin Franklin
DS dx with celiac disease 5/28/10
Okay. I got my answer, and I'll withdraw my question.
'Round here people only talk about property values going up, which is why I was asking.
I guess I've only heard it talked about in posts like the Halfway House one or other such contexts.
We are interested in buying our neighbors property, so we can mow that mother down and I can have my dream garden. That's a dream though, because in reality, its always in my best interest to have my property value increase every year. You're in a unique situation but it's naive for you to not see how that would be a major consideration for homeowners and potential homeowners.
I assume that you don't plan on leaving your place anytime soon. I don't plan on living here forever, this is not the home I want my child to grow up in. I am fortunate to be in a market that is fueled by tourist dollars and rich people buying vacation homes. Our property values stay consistent at worst, and continue to rise at best. There are a lot of people taking a bath in poor markets and it's very sad. People are stuck.
Or...on the national news in reference to the housing bubble burst, the downturned economy, and the "housing crisis" for the last several years?
At best I'm naive, at worst I'm just dumb.
Honestly, I've broadened my horizons a lot here on TN. I don't want to go through life with tunnel vision. I know we complain a lot about property values going up, because we can't compete with the people who want to buy vacation homes and hunting lands- the only reason we were able to purchase our farm is because we had a very insistant seller who wanted us to have the farm and sold it to us privately, rather than funding his retirement.
You're not dumb but EM is right, this issue has been on the forefront of the media for a long time. This is a HUGE problem in the U.S right now.
You also make a good point that it depends on your situation. For me, it's fortunate that the market is strong here bc we will make money when we sell this house. Unfortunately, with all the recreational homeowners, our property taxes are insane and obviously when we buy, we will purchase high. Hopefully, that is the last house we buy and our current equity will augment any loss we might incur in a declining market.
I'm really concerned right now.
Our house has been on the market for almost a year. It's listed for less than we owe on it. We are taking it in the ass on this house. it sucks a lot. so, yes, I am concerned with property values.
Oh- and I guess I need to clarify that I understand people are concerned about being underwater on their mortgages.
I just was unaware that your neighbor's actions really have that much to do with the price of your house.
Just out of interests sake, why are you moving?
I'm sort of shocked you don't understand this. "Location, location, location" isn't just about the school district you're in.
we already moved - my dad passwed away and my husband and I bought his house (so my child hood house). So, for us, it is worth it to take the loss, but it still sucks ass.