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US House Prices

US House Prices

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Old Sep 4th 2007, 5:39 pm
  #46  
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Default Re: US House Prices

Originally Posted by dunroving View Post
It amazes me that council members and planning board members are not required to recuse themselves from voting on any proposal that involves their own company or affiliates.
With you there...just another form of insider trading..............
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Old Sep 4th 2007, 6:06 pm
  #47  
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Default Re: US House Prices

Originally Posted by dunroving View Post
It amazes me that council members and planning board members are not required to recuse themselves from voting on any proposal that involves their own company or affiliates.
That's the American way.
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Old Sep 4th 2007, 7:13 pm
  #48  
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Default Re: US House Prices

Local to me ..somebody wanted to moor a gambling boat at a place called
Clarks Landing..... it went to the planning committee and permission was given ...

It was just amazing that the head of the planning committee was Mr Hap Clarke ...owner of Clarks landing....

And nobody saw anything wrong with it ...
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Old Sep 4th 2007, 7:29 pm
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Default Re: US House Prices

Originally Posted by Ray View Post
Local to me ..somebody wanted to moor a gambling boat at a place called
Clarks Landing..... it went to the planning committee and permission was given ...

It was just amazing that the head of the planning committee was Mr Hap Clarke ...owner of Clarks landing....

And nobody saw anything wrong with it ...
Nothing wrong with that….You scratch my back and I’ll scratch my own…
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Old Sep 4th 2007, 7:38 pm
  #50  
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Default Re: US House Prices

Originally Posted by sjl1971 View Post
Are US house prices following accross the whole country or only in certain areas?

Any input appreciated.
there is no more land available where we live and so keeps our house prices very buoyant. we just sold one house last week after having it for 18mths and made an excellent profit on it.
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Old Sep 4th 2007, 7:57 pm
  #51  
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Default Re: US House Prices

Originally Posted by TruBrit View Post
there is no more land available where we live and so keeps our house prices very buoyant. we just sold one house last week after having it for 18mths and made an excellent profit on it.
Texas is full

Yeah, we're working inside the loop/downtown at the moment where supply is pretty much fixed, and demand is ongoing....out west theres way too much development and still too much space for my liking..
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Old Sep 4th 2007, 8:03 pm
  #52  
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Default Re: US House Prices

Originally Posted by Yorkieabroad View Post
Texas is full
that sounded funny didn't it

however 'tis true, unbelievable in texas

no more land avail in our neck of the woods and our prices are rising
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Old Sep 4th 2007, 8:08 pm
  #53  
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Default Re: US House Prices

Originally Posted by TruBrit View Post
that sounded funny didn't it

however 'tis true, unbelievable in texas

no more land avail in our neck of the woods and our prices are rising
Yeah, I guessed what you meant - like I say, thats why we started moving in to the center. The margins on the rentals aren't fantastic, Ok, but not fantastic, but the market is a bit more "manageable" I think..
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Old Sep 4th 2007, 8:46 pm
  #54  
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Speaking from someone who works in the construction industry in SW Florida, I'd have to say it's very scary. I often am sitting here with no work to do because the builders have stopped setting up new contracts for a while.

I have also been the victim of a massive decline in existing home sales. I had a home here, and couldn't afford it anymore what with our taxes doubling and insurance tripling, so we arranged with the bank for it to be sold through a short sale. Even the appraiser raised his eyebrows when I told him how much we'd bought it for. Kind of look that said, "Well, aren't you two just a couple of suckers?"

Anyway, that fell through so we chose to give it back voluntarily instead of the bank dragging us through the courts to get it.
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Old Sep 5th 2007, 3:17 am
  #55  
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Default Re: US House Prices

Originally Posted by TruBrit View Post
there is no more land available where we live and so keeps our house prices very buoyant. we just sold one house last week after having it for 18mths and made an excellent profit on it.
Same on the Cape...no more new homes here...there was a lot of building here a few years ago ..but new homes do not sell well...people like the older homes...they look more like they belong here and are easier to heat and cool...
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Old Sep 5th 2007, 3:26 am
  #56  
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Default Re: US House Prices

Originally Posted by katesbackagain View Post
Speaking from someone who works in the construction industry in SW Florida, I'd have to say it's very scary. I often am sitting here with no work to do because the builders have stopped setting up new contracts for a while.

I have also been the victim of a massive decline in existing home sales. I had a home here, and couldn't afford it anymore what with our taxes doubling and insurance tripling, so we arranged with the bank for it to be sold through a short sale. Even the appraiser raised his eyebrows when I told him how much we'd bought it for. Kind of look that said, "Well, aren't you two just a couple of suckers?"

Anyway, that fell through so we chose to give it back voluntarily instead of the bank dragging us through the courts to get it.
A lot of people paid way over the odds for homes in FL...my house would have to lose another $122k before we hit our buying price of nearly 4 years ago...its lost about $25k so far..its not really a big thing for us because we've never had any plans to sell it...we had our MA home appraised for a good $60k more than I thought...not sure we would get it mind you...I'd like to sell up and move to FL...but hubby likes its here...and he is the one working so i'll not push it while his company is doing OK again...
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Old Sep 5th 2007, 4:21 am
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Default Re: US House Prices

Originally Posted by katesbackagain View Post
I have also been the victim of a massive decline in existing home sales. I had a home here, and couldn't afford it anymore what with our taxes doubling and insurance tripling, so we arranged with the bank for it to be sold through a short sale. Even the appraiser raised his eyebrows when I told him how much we'd bought it for. Kind of look that said, "Well, aren't you two just a couple of suckers?"
Thats a bummer to be sure.. The property tax thing here can be crippling...makes you wonder what people complain about with the council tax in the UK. We're "lucky" here that our property tax can "only" be increased by a maximum of 10% annually - course if they used that 10% every year it would soon mount up. But the appeals procedure is pretty reasonable too - we're in a new house, and I appealed it this year and got a 15% reduction on last years taxable value.
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Old Sep 5th 2007, 1:53 pm
  #58  
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Default Re: US House Prices

Originally Posted by Yorkieabroad View Post
Thats a bummer to be sure.. The property tax thing here can be crippling...makes you wonder what people complain about with the council tax in the UK. We're "lucky" here that our property tax can "only" be increased by a maximum of 10% annually - course if they used that 10% every year it would soon mount up. But the appeals procedure is pretty reasonable too - we're in a new house, and I appealed it this year and got a 15% reduction on last years taxable value.
coz they haven't a clue. the council tax in the uk is almost as cheap as chips compared to what we pay over here. one reason why it's good for the brits to live overseas, certainly in the usa... makes them appreciate what they get for their money in the UK, it has me
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Old Sep 5th 2007, 2:05 pm
  #59  
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Default Re: US House Prices

Originally Posted by Giantaxe View Post
Weeks? Try years. And as you allude to, the lending "standards" we've seen over the last few years are extremely unlikely to return for the forseeable future, and it was that credit bubble that's driven prices up. The net result is that there are simply fewer qualified buyers out there and inventory is steadily increasing. It may be "Buyer's Market" in that there are less buyers than sellers, but that doesn't equate to it being the "good time to buy" that realtors love to claim. In fact, with prices relative to income and rents still at historic highs in many areas, prices would have to fall considerably from current levels to make buying attractive, imo. My prediction: a "seller's market" won't return for at least half a decade.
Have the stagnation/falls not been caused to a great exteny by the rising interest rate cycle. Looks like there could be a couple of cuts at the next couple of Fed meetings () and hopefully more in the new year to attempt to reduce repos and underpine market. There is also possible Govt intervention to stop repos accelerating. Therefore, is there possible truth in the moto buy when things are looking bleak??
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Old Sep 5th 2007, 4:03 pm
  #60  
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Default Re: US House Prices

Originally Posted by TruBrit View Post
there is no more land available where we live and so keeps our house prices very buoyant. we just sold one house last week after having it for 18mths and made an excellent profit on it.
Ah yes, the "they're not building any more land" line that realtors know and love... while I can well believe that such areas will be more resilient than others, the idea that they will be immune to the downturn over the next few years is optimistic, imo. They are not some kind of island, and as prices drop in surrounding areas, the increased differential will eventually drag down prices in the more desirable areas too. What has driven prices to current levels is a cheap and easy credit bubble, and that credit bubble has been prevalent everywhere. Now that credit is less cheap and markedly less easy, things are changing.
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