Mad Dawg Wiccan
Administrator
Rest in Peace
Only Bites Whiners
Joined: Jan 12, 2011 20:40:24 GMT -5
Posts: 9,693
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Post by Mad Dawg Wiccan on May 31, 2011 11:23:12 GMT -5
WASHINGTON -- Home prices in major areas have reached their lowest level since the housing bubble burst in 2006, driven down by foreclosures, a glut of unsold homes and the reluctance or inability of many to buy. Prices fell from February to March in 18 of the metro areas tracked by the Standard & Poor's/Case-Shiller 20-city index. And prices in a dozen markets have reached their lowest points since the housing crisis began. Prices in March rose only in the Seattle and Washington, D.C., metro areas. The nationwide index fell for the eighth straight month. Most economists think prices nationally will drop at least an additional 5 percent by year's end. They aren't likely to stop falling until the glut of foreclosures for sale is reduced, employers start hiring in greater force, banks ease lending rules and would-be buyers regain confidence that a home purchase is a wise investment www.sacbee.com/2011/05/31/3665645/home-price-index-at-lowest-point.html
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dancinmama
Senior Associate
LIVIN' THE DREAM!!
Joined: Dec 18, 2010 20:49:45 GMT -5
Posts: 10,659
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Post by dancinmama on May 31, 2011 11:30:51 GMT -5
I feel so badly for people who are caught in this real estate nightmare. Thank goodness we did not rely on our home's value to finance any part of our retirement. The drop in property values has actually benefited us as last year we paid $8K less in property taxes than we did in the first year after we bought it.
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Post by moxie on May 31, 2011 13:20:35 GMT -5
We spent last year remodeling and updating the home we raised our kids in while people were out of work and labor prices were competitive. We are glad we did it when we did in hopes that it would sell quickly when the market came back. Now, our home has completely updated baths, kitchens, floors, countertops, carpet, paint throughout and looks like new, but we refuse to "give it away." We are holding onto it until things rebound. Not willing to cave into the "low ballers." Don't want to rent it out and have it trashed either. We have had several homes in our neighborhood sit unsold for three years. We aren't in a position where we HAVE to sell, it just would be nice to unload it.
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Post by moxie on May 31, 2011 13:23:46 GMT -5
I think more and more people are doing the same thing we did...spending any money they can on updating NOW, so that when the market does comes back, they can maybe sell quickly. Of course, there are many people who need to hold onto any money they have due to this sucky economy. It really is sad.
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Post by moxie on May 31, 2011 13:27:12 GMT -5
I'd like to see my kids invest in real estate while the prices are low (instead of throwing away rent money), however, they are just starting out in their careers and are not necessarily going to stay in one place for too long and don't want to be locked into anything. WISE.
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Post by moxie on May 31, 2011 13:29:18 GMT -5
We have downsized to a place like that, lonewolf. Want to stay here, in the area where we were both raised, and unload our place in a nearby state now that the kids are grown.
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Post by moxie on May 31, 2011 13:30:27 GMT -5
If we could get what the place is really worth, we would do it in a heartbeat, but we aren't willing to take a HUGE loss.
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Post by moxie on May 31, 2011 13:31:51 GMT -5
My daughter was talking this weekend about going to Denver.
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Post by moxie on May 31, 2011 13:32:40 GMT -5
My son may relocate too.
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Post by moxie on May 31, 2011 13:34:22 GMT -5
Are you looking to stay in the state you are in or some other state, lonewolf?
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Post by moxie on May 31, 2011 13:36:12 GMT -5
Mosquitoes sometimes, but you can have those anywhere. There is NO DOWNSIDE! Peaceful, relaxing...heaven.
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Post by moxie on May 31, 2011 13:38:49 GMT -5
I like nature and the woods, so this is my kind of life. I have lived in big cities...I prefer easy living, good friends, no traffic...it's all good here.
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Post by moxie on May 31, 2011 13:44:26 GMT -5
I have never been to CA, but I am curious as to why you see it as a "toilet." Some folks like CA, some don't. What are the negatives, in your opinion. Are you in northern or southern CA?
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Post by moxie on May 31, 2011 13:44:51 GMT -5
Northern WI...lake.
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Post by moxie on May 31, 2011 13:45:20 GMT -5
Northwoods country...our home.
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Post by moxie on May 31, 2011 13:46:23 GMT -5
I want to tour northern CA.
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Post by moxie on May 31, 2011 13:47:04 GMT -5
What is Truckee like? Nevada or CA? I have heard of it.
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ugonow
Senior Member
Joined: Dec 21, 2010 10:15:55 GMT -5
Posts: 3,397
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Post by ugonow on May 31, 2011 13:48:29 GMT -5
I had my eye on some property in Grass Valley Ca. Nice place.....
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Post by moxie on May 31, 2011 13:48:43 GMT -5
I hear Tahoe is nice...I could visit there and stay in a cabin...that would be SO ME...a fireplace, a grill, pine trees, a lake...I'd be very happy. I like casual.
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Post by moxie on May 31, 2011 13:49:34 GMT -5
Gatlinburg, TN too. Mountains.
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Post by moxie on May 31, 2011 13:50:17 GMT -5
Grass Valley? Northern CA?
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Post by moxie on May 31, 2011 13:51:01 GMT -5
Tuscany, Italy would be my first choice though. lol ;D Ireland would be up there too.
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Post by moxie on May 31, 2011 13:52:57 GMT -5
I hear you on the maintenance thing, lonewolf. We are so over it! We are getting older and are ready for less work, more fun and travel!
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Post by moxie on May 31, 2011 13:54:15 GMT -5
Gee, I had no idea it was that bad in CA. The only problem I have heard about from others is the illegal thing.
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ugonow
Senior Member
Joined: Dec 21, 2010 10:15:55 GMT -5
Posts: 3,397
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Post by ugonow on May 31, 2011 13:54:25 GMT -5
Yup, not far from Truckee.
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Post by moxie on May 31, 2011 14:01:36 GMT -5
Ideally, we would like to go somewhere warm for Jan., Feb., and March. I like Christmas here, the snow. After New Year's though, a few months somewhere warm would be nice until the spring thaw. We thought about maybe investing, but we couldn't agree on WHERE and have now decided that we would maybe like to change up the warm weather location each year rather than being in the same place all the time. Have no real interest in AZ, Mexico, Costa Rica. I would like to check out Panama.
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Post by moxie on May 31, 2011 14:02:53 GMT -5
What are the avg. temperatures in CA in Jan. through March? Warm? I like seventies.
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Post by moxie on May 31, 2011 14:03:53 GMT -5
I don't like HOT...low sixties to mid-seventies would suit us just fine.
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Post by moxie on May 31, 2011 14:04:52 GMT -5
Good walking /golf weather is what we want. Light jackets would be okay.
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Post by moxie on May 31, 2011 14:06:38 GMT -5
So, would you recommend a nice driving trip up the coast...what is that long highway...Highway One?
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