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Originally Posted by kentucky blue
Every pre-owned designer and premier home i looked at was priced to sell at a loss, when you included the real estate commission.Many were priced at a loss even before the commission, one premier over $100,000 loss and it is beautiful.The only reason my home in TV is worth more than i paid for it , is because of all the upgrades. Put your home on the market in TV now and you'll soon see the market is not flat, but still heading downward.Since i purchased a lifestyle in TV, and have no plans on moving, i'll be just fine . The real estate market will eventually turn around, but it won't be anytime soooooooon.
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I wish we had a crystal ball and could guarantee the market will rebound, but its not a sure thing. It used to be you'd buy a house and know it was an investment, if it was in a good neighborhood, you did certain upgrades, etc. Nowadays, I think all bets are off. I used to look at our house up north (in addition to being a place to live) as an investment , just like stocks or bonds, but the house down here, for me, is just a place to live. I think that's one reason we've avoided upgrading to something with a golfcart garage, and with more of a view, is that I don't like the feeling of not knowing whether I can sell it in the future for reasonably close to what I paid for it. As long as you know you're not moving, I guess its not an issue. I just like to keep my options open in case things change in the community or in my life, and I feel the need to move on.