Market analysis, news and reviews of specific properties that are for sale or have sold at a loss.
We just sold our San Diego home for a 10.5% loss after commissions & fees. I think we were lucky to get that. House purchased was in 2004. What a nightmare :-(
dont forget inflation too.. all in all definately not what the realtor told us to expect!
anon 4:38,Care to share the address of your house? Hopefully you had equity from a prior purchase and have been able to buy something else that's gone down as well.
I dont expect to buying anything else for a few years now. I just dont neeed to 'oen' enough to pay the premium for 'owning' over renting at the moment. I would say you pay a 70-100% premium at the moment based on what i got now vs. what i 'owned' before.When you consider property tax, hoa, hassle, closing costs, declining market, rampant inflation, shaky economic outlook etc It just seems sensible to invest that equity somewhere where at least it isn't depreciating...
I know what you mean about HOA fees. The fees on this unit are $542 a month. That's a lot to pay each month in addition to a (skyrocketing) adjustable mortgage on a unit that depreciates in value.
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