|
First home price drop in 11 years
| Posted By |
Message |
| Pages: << 2 3 4 [5] 6 7 |
SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
|
Re: First home price drop in 11 years
Posted by Gertyrae
And if you are thinking about moving out of state, make sure you get transferred with your NY job, cuz if you go somewhere else you will pay less for your house, but you are going to make a lot less also...just my two cents
so not true... this has been de-bunked on many occasions. everyone is under the impression that companies pay so well around here. well guess what? they don't.
ETA: just wanted to add that the only jobs that may not pay as well as LI are schools. professional jobs (in the corporate world) pay well. I have yet to hear from an OOS'er on here who took a pay cut when they moved to NC or GA. Just the opposite in fact, most of them increased their salary.
there is a reason why so many folks are leaving this area for NC & GA. and affordable housing is not the only reason.
Message edited 9/27/2006 7:31:11 AM.
|
Posted 9/27/06 7:19 AM  |
| |
|
Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
riniko
LIF Toddler
Member since 3/06 486 total posts
Name:
|
Re: First home price drop in 11 years
Posted by Gertyrae
I just wanted to throw in here that DH and I bought our house last year, put down 15% on a $300,000 house and make about 80K between us. We are having no problems paying our mortgage - we aren't going out to dinner every night either- and don't see any problems in the forseeable future. We do have a 30 year fixed and we did make some sacrifices - we bought in the town of Brookhaven for lower taxes and we bought a small ranch. But we haven't had to put any serious money into the house, at some point I would like a new kitchen, but I have years to worry about it.
I personally think that LI'ers in particular want a lot for their money, probably because we are paying a lot to start with. But it seems to me, everyone wants a totally perfect house right away. I believe you are in your house for a few years and you should fix it as you go along. And if you are thinking about moving out of state, make sure you get transferred with your NY job, cuz if you go somewhere else you will pay less for your house, but you are going to make a lot less also...just my two cents
Good points, however the situation is very different for Nassau ppl compared to Suffolk. How much do you think that same 300k house would be somewhere in Nassau Co?
|
| Posted 9/27/06 7:21 AM |
| |
|
skew
LIF Adult
Member since 5/05 6794 total posts
Name:
|
Re: First home price drop in 11 years
Posted by riniko
Posted by Gertyrae
I just wanted to throw in here that DH and I bought our house last year, put down 15% on a $300,000 house and make about 80K between us. We are having no problems paying our mortgage - we aren't going out to dinner every night either- and don't see any problems in the forseeable future. We do have a 30 year fixed and we did make some sacrifices - we bought in the town of Brookhaven for lower taxes and we bought a small ranch. But we haven't had to put any serious money into the house, at some point I would like a new kitchen, but I have years to worry about it.
I personally think that LI'ers in particular want a lot for their money, probably because we are paying a lot to start with. But it seems to me, everyone wants a totally perfect house right away. I believe you are in your house for a few years and you should fix it as you go along. And if you are thinking about moving out of state, make sure you get transferred with your NY job, cuz if you go somewhere else you will pay less for your house, but you are going to make a lot less also...just my two cents
Good points, however the situation is very different for Nassau ppl compared to Suffolk. How much do you think that same 300k house would be somewhere in Nassau Co?
A LOT of people on these boards bought houses in the 300 - 400k range in nassau.
Message edited 9/27/2006 9:46:39 AM.
|
| Posted 9/27/06 9:02 AM |
| |
|
Maathy317
Grammie's Little Man
Member since 2/06 3235 total posts
Name:
D
|
Re: First home price drop in 11 years
Posted by Meaghan729
Posted by kerrycec03
it depends, but generally prices are dropping a little, but I'll take a little. Thats why its so hard for me to feel sympathetic with some folks who are dead set againist lowering the price or accepting cheaper offers. They've already made a lot of money off their property.
I agree a bazillion percent!
especially for people who have had the house for 30 years - yes you may not be able to sell it for what your neighbor got for it last year - but you are still making a very nice profit!
I am in my home now for 28 years and, while what you state is true, if I were to sell, I would have to live somewhere. We bought our home for an investment for our future and our retirement, and, while, we would like to stay where we are, economically, it may not be possible. Over the years, we put alot of time and money into our home and, if we were to sell, we, certainly, would make a nice profit. However, that profit would go to buying something for us to live in. In the end, we would, probably, end up with extra money, but, certainly, not a windfall and that money would be put into our retirement. This seems to be the general misconception. I know how hard it is for young people today to buy a home in this economy, but, it was not any different for us. While, we may have spent only $40,000 for our home at the time, our annual combined income was under $26,000. It's all relative to each generation. I know there are some people out there who are overpricing their homes and trying to sell places that are in poor condition. Please do not lump all of us into the same category. We're just trying to survive like everyone else.
|
| Posted 9/27/06 9:39 AM |
| |
|
kerrycec03
Mom of 2 beautiful boys!!
Member since 6/06 13519 total posts
Name:
Kerry
|
Re: First home price drop in 11 years
yes, but you said it yourself, you would have extra money. Since most of us won't get a retirement, we cannot rely of our houses for our retirement. Once you are at retirement chances of you staying in family home (ie large) are unlikely. I know my parents as well as several others are looking to downsize. I know if tough, but if someone is making 100K on their house, that is fantastic and chances are you will make that much if not more. Also, after 28 years your morgage will be likely paid off if not soon to come. Another expense that will drastically go down if you downsize. So I'm sorry, no sympathy. I understand its relative, but a profit of 100K or more is amazing and let's say you receive 450K for your house, you will be more than likely to find something cheaper and smaller, less money, less taxes,etc. Also, as far as repairs go, after 28 years everyone has updated, changed, improved their house. But the reason you did that wasn't to increased value all the time. You did that to improve your lives
|
| Posted 9/27/06 9:48 AM |
| |
|
jnico
LIF Adolescent
Member since 10/05 798 total posts
Name:
Joanne
|
Re: First home price drop in 11 years
Posted by kerrycec03
yes, but you said it yourself, you would have extra money. Since most of us won't get a retirement, we cannot rely of our houses for our retirement. Once you are at retirement chances of you staying in family home (ie large) are unlikely. I know my parents as well as several others are looking to downsize. I know if tough, but if someone is making 100K on their house, that is fantastic and chances are you will make that much if not more. Also, after 28 years your morgage will be likely paid off if not soon to come. Another expense that will drastically go down if you downsize. So I'm sorry, no sympathy. I understand its relative, but a profit of 100K or more is amazing and let's say you receive 450K for your house, you will be more than likely to find something cheaper and smaller, less money, less taxes,etc. Also, as far as repairs go, after 28 years everyone has updated, changed, improved their house. But the reason you did that wasn't to increased value all the time. You did that to improve your lives
I completely understand what you are saying. A friend of mine bought a house in 2000 for $200,000. She renovated and updated everything to brand new. But she was complaining when she tried to sell last year and did not get her asking price which was $530,000. 
|
| Posted 9/27/06 9:56 AM |
| |
|
Gertyrae
Peace out Homies!
Member since 5/05 20046 total posts
Name:
Gerty ®
|
Re: First home price drop in 11 years
I think what Maathy is saying is that anyone buying now can probably expect the same kind of return in 25/30 years. Although we may find it hard to imagine, I'm sure those who paid double their salaries in the 70's wouldn't have thought their houses would be worth 400K now. It's all relative and anyone who purchases a home does so because it's a long term investment - otherwise people would just rent.
|
| Posted 9/27/06 9:58 AM |
| |
|
MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
|
Re: First home price drop in 11 years
Posted by Gertyrae
I think what Maathy is saying is that anyone buying now can probably expect the same kind of return in 25/30 years. Although we may find it hard to imagine, I'm sure those who paid double their salaries in the 70's wouldn't have thought their houses would be worth 400K now. It's all relative and anyone who purchases a home does so because it's a long term investment - otherwise people would just rent.
I disagree - while if you buy now and hold for 30 years you will see a nice return - the price appreciation from the last five years is the fastest EVER.
eta: my gripes come with the previous post about how someone bought in 2000 for $200K and was pizzed they didnt get $530K for it last year. that is craziness!
Message edited 9/27/2006 10:00:55 AM.
|
| Posted 9/27/06 9:59 AM |
| |
|
skew
LIF Adult
Member since 5/05 6794 total posts
Name:
|
Re: First home price drop in 11 years
Posted by Maathy317
Posted by Meaghan729
Posted by kerrycec03
it depends, but generally prices are dropping a little, but I'll take a little. Thats why its so hard for me to feel sympathetic with some folks who are dead set againist lowering the price or accepting cheaper offers. They've already made a lot of money off their property.
I agree a bazillion percent!
especially for people who have had the house for 30 years - yes you may not be able to sell it for what your neighbor got for it last year - but you are still making a very nice profit!
I am in my home now for 28 years and, while what you state is true, if I were to sell, I would have to live somewhere. We bought our home for an investment for our future and our retirement, and, while, we would like to stay where we are, economically, it may not be possible. Over the years, we put alot of time and money into our home and, if we were to sell, we, certainly, would make a nice profit. However, that profit would go to buying something for us to live in. In the end, we would, probably, end up with extra money, but, certainly, not a windfall and that money would be put into our retirement. This seems to be the general misconception. I know how hard it is for young people today to buy a home in this economy, but, it was not any different for us. While, we may have spent only $40,000 for our home at the time, our annual combined income was under $26,000. It's all relative to each generation. I know there are some people out there who are overpricing their homes and trying to sell places that are in poor condition. Please do not lump all of us into the same category. We're just trying to survive like everyone else.
although it may have seem like a lot at the time you still only paid 2x your salary. whereas now we are forced to pay 4x + our salary.
|
| Posted 9/27/06 10:31 AM |
| |
|
LuckySV
LIF Adult
Member since 10/05 4675 total posts
Name:
|
Re: First home price drop in 11 years
Posted by skew
Posted by Maathy317
Posted by Meaghan729
Posted by kerrycec03
it depends, but generally prices are dropping a little, but I'll take a little. Thats why its so hard for me to feel sympathetic with some folks who are dead set againist lowering the price or accepting cheaper offers. They've already made a lot of money off their property.
I agree a bazillion percent!
especially for people who have had the house for 30 years - yes you may not be able to sell it for what your neighbor got for it last year - but you are still making a very nice profit!
I am in my home now for 28 years and, while what you state is true, if I were to sell, I would have to live somewhere. We bought our home for an investment for our future and our retirement, and, while, we would like to stay where we are, economically, it may not be possible. Over the years, we put alot of time and money into our home and, if we were to sell, we, certainly, would make a nice profit. However, that profit would go to buying something for us to live in. In the end, we would, probably, end up with extra money, but, certainly, not a windfall and that money would be put into our retirement. This seems to be the general misconception. I know how hard it is for young people today to buy a home in this economy, but, it was not any different for us. While, we may have spent only $40,000 for our home at the time, our annual combined income was under $26,000. It's all relative to each generation. I know there are some people out there who are overpricing their homes and trying to sell places that are in poor condition. Please do not lump all of us into the same category. We're just trying to survive like everyone else.
although it may have seem like a lot at the time you still only paid 2x your salary. whereas now we are forced to pay 4x + our salary.
Skew, you read my mind! I was just about to type that! 
|
| Posted 9/27/06 10:38 AM |
| |
|
MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
|
Re: First home price drop in 11 years
Posted by npbride
Posted by skew
Posted by Maathy317
Posted by Meaghan729
Posted by kerrycec03
it depends, but generally prices are dropping a little, but I'll take a little. Thats why its so hard for me to feel sympathetic with some folks who are dead set againist lowering the price or accepting cheaper offers. They've already made a lot of money off their property.
I agree a bazillion percent!
especially for people who have had the house for 30 years - yes you may not be able to sell it for what your neighbor got for it last year - but you are still making a very nice profit!
I am in my home now for 28 years and, while what you state is true, if I were to sell, I would have to live somewhere. We bought our home for an investment for our future and our retirement, and, while, we would like to stay where we are, economically, it may not be possible. Over the years, we put alot of time and money into our home and, if we were to sell, we, certainly, would make a nice profit. However, that profit would go to buying something for us to live in. In the end, we would, probably, end up with extra money, but, certainly, not a windfall and that money would be put into our retirement. This seems to be the general misconception. I know how hard it is for young people today to buy a home in this economy, but, it was not any different for us. While, we may have spent only $40,000 for our home at the time, our annual combined income was under $26,000. It's all relative to each generation. I know there are some people out there who are overpricing their homes and trying to sell places that are in poor condition. Please do not lump all of us into the same category. We're just trying to survive like everyone else.
although it may have seem like a lot at the time you still only paid 2x your salary. whereas now we are forced to pay 4x + our salary.
Skew, you read my mind! I was just about to type that!
YEP! my parents stuggled to buy their first house no doubt - and they had to buy futher out on LI than they wanted - but my mom didnt work until I was 4.
|
| Posted 9/27/06 10:54 AM |
| |
|
riniko
LIF Toddler
Member since 3/06 486 total posts
Name:
|
Re: First home price drop in 11 years
Posted by skew
Posted by riniko
Posted by Gertyrae
I just wanted to throw in here that DH and I bought our house last year, put down 15% on a $300,000 house and make about 80K between us. We are having no problems paying our mortgage - we aren't going out to dinner every night either- and don't see any problems in the forseeable future. We do have a 30 year fixed and we did make some sacrifices - we bought in the town of Brookhaven for lower taxes and we bought a small ranch. But we haven't had to put any serious money into the house, at some point I would like a new kitchen, but I have years to worry about it.
I personally think that LI'ers in particular want a lot for their money, probably because we are paying a lot to start with. But it seems to me, everyone wants a totally perfect house right away. I believe you are in your house for a few years and you should fix it as you go along. And if you are thinking about moving out of state, make sure you get transferred with your NY job, cuz if you go somewhere else you will pay less for your house, but you are going to make a lot less also...just my two cents
Good points, however the situation is very different for Nassau ppl compared to Suffolk. How much do you think that same 300k house would be somewhere in Nassau Co?
A LOT of people on these boards bought houses in the 300 - 400k range in nassau.
According to MLSLI as of today....
Total Homes in Nassau = 9265
859 Homes between 300k – 400k with many co-ops and condos that are categorized incorrectly.
9.2% homes are priced low (859/9265)
Nassau Average Price = 640K
Total Homes in Suffolk = 12986
3477 Homes between 300k – 400k with not as many miscategorizations
26.8% homes are priced low (3477/12986)
Suffolk Average Price = 480K
Furthermore, I would question those who did buy a house in Nassau between 300 - 400k how much they spent revamping the house and when they bought the house. Buying a house in 2006 is a lot different that 3 years ago.
e.t.a. Here is a nice Wall Street Journal Article
Message edited 9/27/2006 12:47:47 PM.
|
| Posted 9/27/06 12:19 PM |
| |
|
skew
LIF Adult
Member since 5/05 6794 total posts
Name:
|
Re: First home price drop in 11 years
Posted by riniko
Posted by skew
Posted by riniko
Posted by Gertyrae
I just wanted to throw in here that DH and I bought our house last year, put down 15% on a $300,000 house and make about 80K between us. We are having no problems paying our mortgage - we aren't going out to dinner every night either- and don't see any problems in the forseeable future. We do have a 30 year fixed and we did make some sacrifices - we bought in the town of Brookhaven for lower taxes and we bought a small ranch. But we haven't had to put any serious money into the house, at some point I would like a new kitchen, but I have years to worry about it.
I personally think that LI'ers in particular want a lot for their money, probably because we are paying a lot to start with. But it seems to me, everyone wants a totally perfect house right away. I believe you are in your house for a few years and you should fix it as you go along. And if you are thinking about moving out of state, make sure you get transferred with your NY job, cuz if you go somewhere else you will pay less for your house, but you are going to make a lot less also...just my two cents
Good points, however the situation is very different for Nassau ppl compared to Suffolk. How much do you think that same 300k house would be somewhere in Nassau Co?
A LOT of people on these boards bought houses in the 300 - 400k range in nassau.
According to MLSLI as of today....
Total Homes in Nassau = 9265
859 Homes between 300k – 400k with many co-ops and condos that are categorized incorrectly.
9.2% homes are priced low (859/9265)
Nassau Average Price = 640K
Total Homes in Suffolk = 12986
3477 Homes between 300k – 400k with not as many miscategorizations
26.8% homes are priced low (3477/12986)
Suffolk Average Price = 480K
Furthermore, I would question those who did buy a house in Nassau between 300 - 400k how much they spent revamping the house and when they bought the house. Buying a house in 2006 is a lot different that 3 years ago.
e.t.a. Here is a nice Wall Street Journal Article
if those that bought in nassau and paid b/t 300 -400k would like to answer your question, then i guess they will come forward. do a search as there definetly QUITE of few posters that did buy in this price range just about a or 2 year ago. no one that i am thinking of purchased more than 3 years ago. actually 2006 is a lot better in re: to home prices and opposed to 2005.
|
| Posted 9/27/06 1:43 PM |
| |
|
MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
|
Re: First home price drop in 11 years
David Lerah cracks me up (the NAR guy). Is he for real? I guess working for Realtors, you dont want to go out there and say the housing market is giong down, but come on!
|
| Posted 9/27/06 1:51 PM |
| |
|
june262004
But I love the Snow!
Member since 5/05 15379 total posts
Name:
Kristin
|
Re: First home price drop in 11 years
My house was a TINY bit more then 400K (not by much though) We painted and put in cheap laminate floors. and not even because we had to but because we wanted to.
Message edited 9/27/2006 1:57:34 PM.
|
| Posted 9/27/06 1:57 PM |
| |
|
MrsERod
Praying for Everyone.
Member since 5/05 26170 total posts
Name:
MrsERod™®
|
Re: First home price drop in 11 years
i just did a search on MLSLI.com for Nassau county, between 300k-400k, and it came up with 743 homes. 
the other site i use to search, is limited to search results of 500, so i can't go by that
|
| Posted 9/27/06 1:58 PM |
| |
|
MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
|
Re: First home price drop in 11 years
Posted by MrsERod
i just did a search on MLSLI.com for Nassau county, between 300k-400k, and it came up with 743 homes.
the other site i use to search, is limited to search results of 500, so i can't go by that
I did the same thing - and until you get to about $350K - a vast majority of the homes are in Hempstead, Roosevelt or Uniondale. I wouldn't want to live in those areas, jmo.
|
| Posted 9/27/06 2:04 PM |
| |
|
Maathy317
Grammie's Little Man
Member since 2/06 3235 total posts
Name:
D
|
Re: First home price drop in 11 years
Posted by kerrycec03
yes, but you said it yourself, you would have extra money. Since most of us won't get a retirement, we cannot rely of our houses for our retirement. Once you are at retirement chances of you staying in family home (ie large) are unlikely. I know my parents as well as several others are looking to downsize. I know if tough, but if someone is making 100K on their house, that is fantastic and chances are you will make that much if not more. Also, after 28 years your morgage will be likely paid off if not soon to come. Another expense that will drastically go down if you downsize. So I'm sorry, no sympathy. I understand its relative, but a profit of 100K or more is amazing and let's say you receive 450K for your house, you will be more than likely to find something cheaper and smaller, less money, less taxes,etc. Also, as far as repairs go, after 28 years everyone has updated, changed, improved their house. But the reason you did that wasn't to increased value all the time. You did that to improve your lives
Let me start by saying, when I made my original post, I was trying to make a point. I wasn't looking for your sympathy. I don't need or want it.
Now, let's go over your post point by point. First, you seem to think that someone making 100K profit on a home is some sort of windfall. Are you serious? If I made that amount of profit and lived off that for my retirement and used only 10K per year (which, by the way, is below the poverty line), that would mean that in 10 years time all of it would be gone. Wow, what a windfall! Don't try to come back with that you have a pension or other income you could use. Anything we would have would be below what we are making now. Second, you seem to be under the impression that in paying off my mortgage the amount I pay out each month will drastically decline. WRONG! Even though the mortgage will no longer factor in, taxes(even though it would be less if we downsized),electric, oil, gas, insurance (home and car), phone, cable, water all still need to be paid. You don't get a break just because you may have downsized. All of this still counts and, remember, as I pointed out, income would be less. Guess you didn't think of that. Third, yes if we changed, updated or improved it wasn't just to make a profit. It was because we wanted to. So what? We're not allowed to? Everything has to lead to a profit? Fourth, if you can't rely on your home for retirement, that's your problem. I wish that everyone could, but, the economy doesn't work that way anymore. Maybe, in your world I should be penalized for that.
Nobody 30 years ago anticipated that the housing market would take the turn that it did. Nobody could predict that the economy would be the way it is and the buying of a house would be so difficult. Does that mean that the fault lies with us? Why should we not reap the benefits of our labor? You seem to be under the impression that because it's now "your turn" that you are entitled to certain benefits because it is harder for you. Maybe we all should just ask you what you think we should sell our homes for. BOO HOO! If you think it is unfair that you have to struggle longer, too bad. Life is unfair and that's the way it goes. We bought our home when we were young like you and if you think it hasn't been a struggle for us just because of the price we paid, you need to think again. (FYI, I live in a modest 3 bedroom, 2 bath ranch on 1/4 acre).
You need to grow up and stop whining. If it's too tough for you here, then go some place else. Just don't expect people to bend over and kiss their assets goodbye because you can't afford a home here.
|
| Posted 9/27/06 2:18 PM |
| |
|
june262004
But I love the Snow!
Member since 5/05 15379 total posts
Name:
Kristin
|
Re: First home price drop in 11 years
Posted by Meaghan729
Posted by MrsERod
i just did a search on MLSLI.com for Nassau county, between 300k-400k, and it came up with 743 homes.
the other site i use to search, is limited to search results of 500, so i can't go by that
I did the same thing - and until you get to about $350K - a vast majority of the homes are in Hempstead, Roosevelt or Uniondale. I wouldn't want to live in those areas, jmo.
..
OK so where would you like to live???
http://mlsli.com/uniDetails.CFM?MLNum=1850406&typeprop=1&start=1&rpp=20
http://mlsli.com/unidetails.cfm?mlnum=1861799&typeprop=1
http://mlsli.com/uniDetails.CFM?MLNum=1874191&typeprop=1&start=1&rpp=20
http://mlsli.com/unidetails.cfm?mlnum=1866617&typeprop=1
http://mlsli.com/unidetails.cfm?mlnum=1876307&typeprop=1
http://mlsli.com/unidetails.cfm?mlnum=1846858&typeprop=1
http://mlsli.com/uniDetails.CFM?MLNum=1865195&typeprop=1&start=1&rpp=20
|
| Posted 9/27/06 2:24 PM |
| |
|
MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
|
Re: First home price drop in 11 years
yea, and all of them except for one house, was over $350K - exactly what I said in the first place.
|
| Posted 9/27/06 2:26 PM |
| |
|
june262004
But I love the Snow!
Member since 5/05 15379 total posts
Name:
Kristin
|
Re: First home price drop in 11 years
http://mlsli.com/unidetails.cfm?mlnum=1868594&typeprop=1
http://mlsli.com/unidetails.cfm?mlnum=1833511&typeprop=1
http://mlsli.com/unidetails.cfm?mlnum=1834094&typeprop=1
http://mlsli.com/unidetails.cfm?mlnum=1846008&typeprop=1
|
| Posted 9/27/06 2:27 PM |
| |
|
MrsERod
Praying for Everyone.
Member since 5/05 26170 total posts
Name:
MrsERod™®
|
Re: First home price drop in 11 years
ok...even on the first page, here's an interesting one:
http://www.mlsli.com/uniDetails.CFM?MLNum=1856668&typeprop=1&start=1&rpp=20
going to keep looking!
|
| Posted 9/27/06 2:27 PM |
| |
|
MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
|
Re: First home price drop in 11 years
Posted by Maathy317
Posted by kerrycec03
yes, but you said it yourself, you would have extra money. Since most of us won't get a retirement, we cannot rely of our houses for our retirement. Once you are at retirement chances of you staying in family home (ie large) are unlikely. I know my parents as well as several others are looking to downsize. I know if tough, but if someone is making 100K on their house, that is fantastic and chances are you will make that much if not more. Also, after 28 years your morgage will be likely paid off if not soon to come. Another expense that will drastically go down if you downsize. So I'm sorry, no sympathy. I understand its relative, but a profit of 100K or more is amazing and let's say you receive 450K for your house, you will be more than likely to find something cheaper and smaller, less money, less taxes,etc. Also, as far as repairs go, after 28 years everyone has updated, changed, improved their house. But the reason you did that wasn't to increased value all the time. You did that to improve your lives
Let me start by saying, when I made my original post, I was trying to make a point. I wasn't looking for your sympathy. I don't need or want it.
Now, let's go over your post point by point. First, you seem to think that someone making 100K profit on a home is some sort of windfall. Are you serious? If I made that amount of profit and lived off that for my retirement and used only 10K per year (which, by the way, is below the poverty line), that would mean that in 10 years time all of it would be gone. Wow, what a windfall! Don't try to come back with that you have a pension or other income you could use. Anything we would have would be below what we are making now. Second, you seem to be under the impression that in paying off my mortgage the amount I pay out each month will drastically decline. WRONG! Even though the mortgage will no longer factor in, taxes(even though it would be less if we downsized),electric, oil, gas, insurance (home and car), phone, cable, water all still need to be paid. You don't get a break just because you may have downsized. All of this still counts and, remember, as I pointed out, income would be less. Guess you didn't think of that. Third, yes if we changed, updated or improved it wasn't just to make a profit. It was because we wanted to. So what? We're not allowed to? Everything has to lead to a profit? Fourth, if you can't rely on your home for retirement, that's your problem. I wish that everyone could, but, the economy doesn't work that way anymore. Maybe, in your world I should be penalized for that.
Nobody 30 years ago anticipated that the housing market would take the turn that it did. Nobody could predict that the economy would be the way it is and the buying of a house would be so difficult. Does that mean that the fault lies with us? Why should we not reap the benefits of our labor? You seem to be under the impression that because it's now "your turn" that you are entitled to certain benefits because it is harder for you. Maybe we all should just ask you what you think we should sell our homes for. BOO HOO! If you think it is unfair that you have to struggle longer, too bad. Life is unfair and that's the way it goes. We bought our home when we were young like you and if you think it hasn't been a struggle for us just because of the price we paid, you need to think again. (FYI, I live in a modest 3 bedroom, 2 bath ranch on 1/4 acre).
You need to grow up and stop whining. If it's too tough for you here, then go some place else. Just don't expect people to bend over and kiss their assets goodbye because you can't afford a home here.
WOW that was wayyy harsh. 
|
| Posted 9/27/06 2:28 PM |
| |
|
MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
|
Re: First home price drop in 11 years
Amityville SD.
and like i said, there are a few under $350K, but the vast majority under $350K are in undesirable areas.
|
| Posted 9/27/06 2:29 PM |
| |
|
MrsERod
Praying for Everyone.
Member since 5/05 26170 total posts
Name:
MrsERod™®
|
Re: First home price drop in 11 years
http://www.mlsli.com/uniDetails.CFM?MLNum=1868594&typeprop=1&start=41&rpp=20
|
| Posted 9/27/06 2:30 PM |
| |
|
| Pages: << 2 3 4 [5] 6 7 |
Potentially Related Topics:
Currently 115469 users on the LIFamilies.com Chat
|
Long Island Bridal Shows
|
