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Home values decline a record amount


i_am_the_swammi
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I used the zillow thingy. It showed my house, the 2007 tax appraisal, the square footage and # of bedrooms and baths I have, (it was wrong, but so is the county's info). It also showed a pretty sharp satellite image of my house. I could tell it was taken in the late fall because of the number of leaves in my pool.

 

so it is, I thought you couldn't get mkt values for TX houses, like on Coldwell Banker, etc...anyway, I did see mine w/ current gregg county #'s, 1/2 bath less, though, but no satellite image

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I don't have the time right now to go looking for my short-sale thread from a few months ago, but I think we're in basically the worst possible situation, as far as home values go. Bought our house in April 2004 for $308K. Refinanced two years later, and the appraisal came through at $385K. We currently have our house on the market, listed at a whopping $129K... We're smack dab in the middle of the worst part of the country for this decline. Just got an offer for $120K, and we're proposing it to our lender as a short-sale. They can either take the offer, or we'll be forced to foreclose. Either way, it sucks big-time. :wacko:

Edited by Gopher
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I don't have the time right now to go looking for my short-sale thread from a few months ago, but I think we're in basically the worst possible situation, as far as home values go. Bought our house in April 2004 for $308K. Refinanced two years later, and the appraisal came through at $385K. We currently have our house on the market, listed at a whopping $129K... We're smack dab in the middle of the worst part of the country for this decline. Just got an offer for $120K, and we're proposing it to our lender as a short-sale. They can either take the offer, or we'll be forced to foreclose. Either way, it sucks big-time. :wacko:

Wow, that sucks. So sorry.

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I don't have the time right now to go looking for my short-sale thread from a few months ago, but I think we're in basically the worst possible situation, as far as home values go. Bought our house in April 2004 for $308K. Refinanced two years later, and the appraisal came through at $385K. We currently have our house on the market, listed at a whopping $129K... We're smack dab in the middle of the worst part of the country for this decline. Just got an offer for $120K, and we're proposing it to our lender as a short-sale. They can either take the offer, or we'll be forced to foreclose. Either way, it sucks big-time. :D

:wacko:

first thread

Second thread

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  • 1 year later...

Judging by local prices for similar properties, mine is down around 15% from it's peak. I don't care though since I'm here for the next seven years.

 

Edit: And I have about $140k equity in it through not using it as a piggy bank.

Edited by Ursa Majoris
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Got lucky, mine should sell for about what I have in it. Neighbors house, pretty much same as mine, sold for 13K more than the old neighbor paid.

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I don't have the time right now to go looking for my short-sale thread from a few months ago, but I think we're in basically the worst possible situation, as far as home values go. Bought our house in April 2004 for $308K. Refinanced two years later, and the appraisal came through at $385K. We currently have our house on the market, listed at a whopping $129K... We're smack dab in the middle of the worst part of the country for this decline. Just got an offer for $120K, and we're proposing it to our lender as a short-sale. They can either take the offer, or we'll be forced to foreclose. Either way, it sucks big-time. :wacko:

 

Wow, that really does suck. Where in the BA do you live?

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