QOD

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1. Unstable Isotope says:

   January 12, 2009 at 11:25 am

   Probably. I’m afraid to look. We bought it in July 2007 and put 20% down. So, if property values in the Wilmington area have declined more than 20%, I could be upside down.

2. arthur says:

   January 12, 2009 at 11:27 am

   no. i did the wise thing. bought the worst house in the best neighborhood. put sweat equity into it and now, about 10 years later could sell it lower than another house in the nieghborhood and still have a 150-175k profit.

3. nemski says:

   January 12, 2009 at 11:29 am

   Don’t know. No plans to sell it till the housing market recovers or 7 years from now, which ever comes first.

4. R Smitty says:

   January 12, 2009 at 11:30 am

   Almost, it’s within 10k, which is significant when considering the bloated run-up not too long ago. However, going on a straight-line from point A (purchase) to point B (today), that’s still just a slightly-below-average appreciation, when you consider typical appreciation over many years, and not just the past handful.

5. liberalgeek says:

   January 12, 2009 at 11:38 am

   No, but there are about 3 homes on my street that are (by 10’s of thousands). I got one of the last “good deals” in the neighborhood before prices went through the roof.

6. Truth Teller says:

   January 12, 2009 at 11:43 am

   No bought beach property in 1978 still living there full time thinking about a reverse mortgage

7. pandora says:

   January 12, 2009 at 11:53 am

   Fortunately, we bought in 1999, before the prices went crazy, so we’d still make a profit. How much of a profit shrinks every day.

8. anon says:

   January 12, 2009 at 12:04 pm

   WTF? In my neighborhood there is a recent rash of house sales for $10. What does that mean – some under-the-table sale to a relative who will hold the mortgage?

   Do these $10 sales affect the neighborhood values? The most recent “real” sales are well over what I paid.

   Otherwise I am doing OK since I bought in mid-90’s (the decade not the price).

   You can look up sales in your neighborhood here:’
   http://php.delawareonline.com/real/

   After you search, click on the Sale Date column heading to sort by most recent date.

9. Dana says:

   January 12, 2009 at 12:05 pm

   Our home is probably worth more, but to absolutely know, I’d have to actually sell it, and I’m not inclined to do that.

10. G Rex says:

    January 12, 2009 at 12:08 pm

    The FEMA trailer was free, and I hope to sell it on E bay as a political collector’s item, so technically no.

11. Bill Dunn says:

    January 12, 2009 at 1:42 pm

    No…. But I bought my home in 1985. In my neighborhood in the Stanton area, I believe because of the somewhat modest socio-economics, in general, housing values have dropped less than 10%.

    Somebody recently turned me on to:
    http://www.zillow.com
    Pick any house or street anywhere in the area and based on recent sales and registered appraisal features (beds, baths pool, etc) for your those houses, it will put a price on each one.
    Check it out.

12. PI says:

    January 12, 2009 at 3:37 pm

    anon #8 – Buyers can elect to have the sale recorded as a $10 sale. You can check the transfer stamps on the deed to calculate the actual selling price. The NJ reports transfers by using public records. The $10 transfer may keep the transfer from being picked up and published.

    In answer to the original question. NO. And it’s paid for in full.