Thursday poll on Friday

[poll id=”12″]

Discuss.

13 thoughts on “Thursday poll on Friday

  1. Higher… the economy is improving, the unemployment rate is slowly decreasing, etc., etc.

    People have started buying homes again. In fact, in hard hit areas like SoCal, real estate is booming again. Prices are rising quickly.

    Locally here in the midwest, we are seeing slow, but steady growth. “Good” houses are not on the market for long, 30 days at most.

  2. I own my house. The only attention I pay to house prices is if I think my home has been overvalued for property taxes so I can get a break on my tax bill. Other than that, I try to ignore it.

    I know how much I pay on my mortgage. I know when it will be paid off. I know I bought at the worst possible time (right at the peak, when housing was going like crazy). I have no intention of selling any time soon: Paying very close attention to the value of my home just seems like an invitation to stress I don’t want. My mortgage is about the same I’d be paying in rent at the moment… and given the lack of available housing in my area, I’ll be paying less / month in mortgage than I would be within two years.

    • Feel very much the same. we closed 6 yrs ago tomorrow, right before the bubble burst, so in general homes were overpriced. Ours was not, because it was a very run down fixer-upper and we only paid what we could afford. We are fortunate we got in when we did because if we had waited, we probably would not qualify for a home loan. But we got a good rate on our loan with no down payment. Our home value has actually risen even when others plummeted because of all the improvements we did (most of the interior, and landscaping). We also have a payment very close to rental prices for a 3 bed, 1 bath apartment, like our home, but our kids get the benefit of a yard to play in.

      And we will be here for the next 13 yrs till our kids are out of school, so no worries over prices in the near future.

    • As long as you make a move within a short time frame you are making a lateral move in the housing market. Your losses (if any) are not truly realized since you sell and buy in the same market.

      Those who have the risk of market fluctuations are those that sell, rent for awhile, and then buy again. The market fluctuation (for better or worse) will have a much greater impact.

  3. Probably higher, unless interest rates jump dramatically (which I don’t expect). Higher rates would lead to more expensive PITI payments, which would lead people to put downward pressure on prices.

  4. I received my tax valuation a few weeks ago and it went down 30% (!!!!!). I’ll take it, it lowers my tax bill. It surprised me because I thought the market was improving. That just provides evidence that my tax assessor is weird. 🙂

    • Most local governments have an assessment schedule where they only re-assess a property every X number of years. Your property may not have been re-assessed since the height of the housing market (i.e. pre-bubble).

  5. At first I was going to pick higher than today which would seem like a no brainer. But seeing the housing market here going higher and higher with no pause from that interest rate increase has me skeptical about the entire housing market again! I guess I need to resign to the fact that I have no control and/or cannot predict the future. Makes me wonder about who is in control… Paranoia I suppose…

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