June 2008 Weddings
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Ugh. RE market vent

A house on my street was just put up for sale yesterday for just about what we paid for ours in 2009. It's pretty much identical to mine, but the basement is completely finished with an extra bathroom. I hate that it's not priced higher. The plusses for our house are that we have new windows, central air, and the house just looks more updated in general, but they've got about 700 extra sq. ft. of living space because of the basement. We've got plans to finish ours, but it won't be for another year or two. Luckily, we're not looking to sell, but I hate that we bought our house at a really low price in a horrible market and still wouldn't be able to sell for a profit. I also hate that we can't refinance and get rid of our PMI because we don't have enough equity yet. Stupid housing market.
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Re: Ugh. RE market vent

  • I hear you.  The house across the street sold for about $60K more than we paid,  BUT at least two similar sized houses are on the market for about $100K LESS than we paid.  We are closer in "niceness" the one that sold for more - but it just makes me mad that there is such huge variance, you know?

    Your house looks great and you guys have added a lot of value and a finished basement will be awesome!  I so wish we had one (well, we have a basement but it's un-finishable ;P

  • imagenaylon511:

    I hear you.  The house across the street sold for about $60K more than we paid,  BUT at least two similar sized houses are on the market for about $100K LESS than we paid.  We are closer in "niceness" the one that sold for more - but it just makes me mad that there is such huge variance, you know?

    Your house looks great and you guys have added a lot of value and a finished basement will be awesome!  I so wish we had one (well, we have a basement but it's un-finishable ;P

    There was actually a house on the next street over that sold in 2010 for $40k more than we paid, so I thought we were in good shape as far as what our house was worth, but apparently not anymore.

    Thanks for the compliment. :) We love everything we've done and that's what really matters, right? We can't wait to finish the basement, though! I guess that's the bonus of buying a split-level/raised ranch because our house was built with the purpose of having living space in the lower level.

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  • I totally understand your pain. We try not to think about it, but we are soooo upside down in our house. Like you though, we aren't planning to sell any time too soon. So hopefully the market eventually turns around.
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  • I hear ya!  We are going to be taking a pretty big hit when our sells.

    And, like Naylon said, you guys have done some amazing upgrades so hopefully when you do want to sell that it will really pay off.

  • imagebbetson:
    I totally understand your pain. We try not to think about it, but we are soooo upside down in our house. Like you though, we aren't planning to sell any time too soon. So hopefully the market eventually turns around.

    This. We are royally screwed! Will have to stay a few years longer than anticipated to save up for the loss we'll have to take. 

  • While I'm frustrated that our house isn't worth more, I know that we would be in much worse shape if we had bought in 2005-2007. The people who owned our house before us paid $100k more in 2007 than we did in 2009 and the fact that they paid so much is why it was a foreclosure.

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  • A house in my court, same floor plan,  just sold for $40k less than we paid in 2008. It has a much larger lot with a very nice pool. It also has granite counter tops, upgraded appliances and wood floors. :( Oh well. I still love my house and plan to be here a long time.
  • OMG, had to share.  A house across the street (and down some, right across from a School, actually, which I think is a worse location) just came on the market.

    It's 1,500 sq feet, mine is 1,350 - not that much of a difference.  Both are 3BRs.  This one says it's 2 full / 2 half bath but....that has to be a mistake.  Right?  Where are those bathrooms.  Mine is 1/1.  Anyway, say it's correct, fine.   It is really pretty ugly inside and mine is more....let's say neutral.   Its lot is slightly larger.

    It just came on for $260,000 MORE than we paid for our house.  MORE.  There isn't a chance in hell it's going to sell for that and I don't even know what comps they could have possibly used to support that price.  I am dying to see what happens to it. 

  • Yea... the houses that are comparable to ours are listed at $30k less than what we paid in 2007 and we had gotten a really good deal at the time. We want to move so bad but can't afford to take that kind of hit. Between the lower price and the realtor fees, we would have practically no money left for a down payment on a new house. Sucks.
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