Are you upside down on your house? I am not just talking sub-prime folks here, but anyone who bought at the top of the bubble only to have your home devalue quickly. Our neighbor's home is identical to ours, slightly older and is assessed very closely to ours number-wise, but they are trying to sell and they'll likely be selling it for close to 50K less than we paid for our home. Yikes! We'd love to move, but can't until our home regains some value.
A realtor I spoke to alluded that our problem is pretty much builders around here's fault because they took such a huge profit on building homes and now when the market demand was high and now that the market has tanked, they can afford to make a lesser profit on a house, which devalued pretty much every existing home that wasn't newly built.
Want to earn PayPal like me? Associated Content pays writers for content. Curious about what kind of articles AC will pay for? Take a look at my articles at the link below. If I can do it, so can you! http://www.associatedcontent.com/user/72250/carly_hart.html
Check out my blog - Making Ends Meet: Living On One Income - for posts on money saving tips! http://livingononeincome.blogspot.com/
1|1|Granted we don't own this condo we rent it but it used to be worth $325,000 now there are 4 condo's in here trying to sell for 199,000 and they cannot sell them my neighbor got hers for $150,000|sarahjones|s.scottjones@comcast.net|18:44:57|10/11/2008|
Sarah S. Jones