Housing Bottomed Out?
 

For those interested who don't mind a few stairs, The Spanish Springs Villas were dramatically reduced today. Looks like I bought a little early. Funny thing is if I had bought anywhere else but TV I would be concerned. Here I still think I got a bargain. :D

We too bought at a bad time (May '07). And today I expect the same house would go for about $40,000 less than we paid. But it just doesn't matter. This is our last home, and I could care less if my heirs can't get more out of it when the time comes!

We bought a resale in October/November 07 and have yet to see a comparable house at the same price--or even close! IMHO the market has bottomed out, but there will always be exceptions depending on the needs of sellers of resales....

Recent CMA
 

We too purchased in Nov '07 and I recently had my realtor do an informal CMA in August. At that time it appeared as though most similar homes were selling at about 5%-6% lower (and a few higher)than we purchased for. Probably not too bad all things considered.
Unfortunately, given recent events I'm not confident that the bottom has been reached, it may be just the beginning.
However, we don't plan to be moving any time soon either, so lay in the supplies and hunker down.

:agree:Unfortunately, given recent events I'm not confident that the bottom has been reached, it may be just the beginning.
However, we don't plan to be moving any time soon either, so lay in the supplies and hunker down.

I have been following the prices for some time and they seemed to be leveling out a bit. As of today Susie Ordman said it may 2- 3 years for the economy to recover.

Prices are still falling and now if you purchase during October TV is giving a 4% discount.

4% Discount? That's Just The Beginning
 

IMHO, what's going on in Washington...or NOT going on, I should say...will drive home prices well below whe they are now. I'm predicting there will be some much better deals in TV than the current 4% spiff. But the downside will be--you'd better have a lot of cash to take advantage.

Yup. If you were that good little squirrel and saved all of your....findings, then you can buy a house down here at GOOD prices.

I see that the Villas at Spanish Springs that have the upper balcony and bedroom are selling fully furnished somewhere between 200 and 217 K. The size ranges somewhere between 15 and 17 hundred feet.

They are outdated a bit, but so are a lot of us.

I prefer Gin

House prices have bottomed or so close to it, it doesn not matter. Now is the time to buy. "Buy low sell High" This Washigton action or inaction will only cause the prices to go up, not down. I just heard Congress has a new plan. Don't burden the tax payers. Just create a new tax on investments that will pay for this. Guess they must think tax payers and investors are different people. How dumb do they think we are. If the voters don't send these incumbent idiots home for good, we get what we deserve.

Regardless of how they determine what way to buy up these bad loans, it will just improve the banks balance sheets, provide additional funds into the money supply, lower mortage interest rates and cause home prices to rise. Remember building permits and housing starts are the lowest in 21 years. It will take builders at least 18 months to gear up to put new homes in the pipeline in significant numbers to meet demand. So existing homes currently on the market will go up in price. It is all about supply and demand and it will go up real soon. BUY BUY BUY and BUY NOW. We are getting very near your last chance to get a bargin.

l2ridehd,
well, I bought

Great. I am selling one and as soon as that sells will buy another. Now is the right time to start flipping houses as well. Now I don't live in TV just yet, but when I do I will do it there. Wish I was there to start now. So many great buys that need just a little TLC and you can make some good money flipping.

Buying right now is one of the best moves you can make. prices will never be lower. And as soon as they pass this bailout bill, which they will, within the next several months prices will move up.

I'll be looking for you on flip this house in the afternoon after I get back from golf, Good Luck.