*pop*

[houseelf]

*pop* goes the real estate bubble.

For years, we gained approximately $1,000 in equity on our house due to the hot market we lived in. Over the last few months, prices on our townhomes have slowed or even depressed slightly. We will still come out way ahead, but our house used to be one of the only things that we had going for us financially.

Anyone else in the same boat?

Kelly

[DCJenn]

Things are slowing down in DC- finally people are beginning to realize that it was getting stupid. I'm glad because my neighborhood is one of those cool funky ones with people of all ages and stages, and I was fearful that some of my way cool older neighbors wouldn't be able to swing the real estate taxes on their incomes.

Houses are actually staying on the market for a few weeks- rather than a few days. Prices are going up but in this neighbood, it's because it's been kind of hidden and there are still some scary "projects" nearby.

I just hope that we'll be able to afford to move back into the city when we get back from where ever the Army sends us.

Jenn

I guess you could say our bubble popped b/c we still haven't unloaded our Cleveland house yet.

We're keeping an eye on a house up the street that just went on the market. It is a little smaller than ours, needs more updating and repairs (being sold as is), and is listed for $5K more. I'll be curious to see what it sells for.
There isn't a lot of turn over in our neighborhood (and sale prices to compare) but I am pretty sure that we could get all of the remodeling and closing costs out of our house. If we can maintain that, I'll be happy. So, I think the bubble is perhaps not growing as quickly.

It is more like...ssssssssssssssss.....here. The cost of housing in the area has far and away outpaced the earnings of potential buyers. Our home has increased in value by about $100K....in 11 months! Now, if we can sell and still get a good chunk of jack for it, I will be happy. I feel sorry for the people that are moving into our area and trying to buy a house.