Discussion in 'Economics' started by DT-waw, Feb 24, 2012.
yes,and the previous owner would still be living there if the bank offered to reduce the principal to 94k.
best deal right now is go a year with no mortgage payment, move all your stuff into storage, and then buy it back at half price or better a few moinths later.
out where I live, houses that were for sale for 160k and finally got forclosed on are now asking 50k.
heck, it's almost worth getting forclosed on just to get someone to haul away all your junk.
bad credit? who needs it? you can buy back your home with cash!
and according to the comp sales at the bottom of the listing, it needs to drop another 16K if it is going to find a buyer ... average home price in area looks as though it is about 78K, down from 250K in 2005 - sounds like a bit like Netflix
just don't understand this complaint on tv like it is a crisis to be "underwater" on a mortgage. Heck I've been "underwater" in a mutual fund and it was no big deal. (and those mutual funds don't keep the rain out. Even if you have one, you still need an umbrella or at least a raincoat (if you dont 'live in AZ.))
I live in PHX, AZ and know the area very well, that is on 35th ave and southern. it is considered southern phoenix/west phoenix.
the area is a total dump that way.
PHX/scottsdale is one of the best cities to live in hands down though, but stay away from the south part of town
Where I live a simple 5 bedroom house cost over 650k! In the nicer areas near me that same 5 bedroom could go over a million easy, property taxes near me are also through the rook, anywhere from 8k to as high as 50k a year! Under 100k is like giving it away, would be nice to see a 5 bedroom house come down to around $250,000 near me, but that will never happen.
haha $36 sqft, I think thats where all housing prices should be give or take $50 to mark a bottom in housing...there are cars on the road that cost more than $94,900.
Est. payment: $558/mo Open link in new window
Property type: Single-Family Home
Size: 2,634 sqft
Year built: 2005
bad neighborhoods can turn into very nice neghborhoods, it happens all over the country. It's probably more likely that a good neighborhood goes bad than a bad neghborhood goes worse. Especially if young people can come in and buy at these low prices and rates. Easy now for old people to give their kids a big help. Problem is, young do not want to buy so much anymore. New American Dream:No house no mortgage no kids.
and the reason for that is, houses are easy to buy, but still extremely difficult to sell, and no one wants to get tied down to any geographic location right now. Especially when other than the weather, almost every place in the world is just the same, (the all have a McDonalds.)
Why do the banks dump houses for dumb and dumber prices just because they are "not in the business of real estate?"
Kind of like xerox saying they will "give" their PC technology to Steve Jobs and the gang just becasue they are "not in the computer business"
WAKE UP BAC YOU STUPID !@#$% DUMB LOSERS!!!!
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