Quote:
Originally Posted by Morrigoon
Ugh... the foreclosure market is hitting my complex (and therefore our equity) HARD. Bad enough someone's on the market at $358,000 when the average is around $370,000... now someone's in a short sale situation, and they've got only 3 months before a notice of default is filed, so they listed their home at $325,000!!! 
18 months ago, the *average* price for the neighborhood was like $400,000. "You're killing me, Larry!"
But seriously, we have to refi our home in 2 years. I need values to go the other way!
(and I'm pissed that I don't have the money to snatch up another unit myself, because... damn!) |
As a non-homeowner, I am quite happy about this. I knew it was inevitable for the short term and plan on buying within the next 6-12 months (which is the time-frame I believe we will be seeing the market bottom out)