Ouch!

[plummer925]

Oh, ick.

We just inherited a home in a nice area - in "good" times it would have sold for $400,000 - we don't want to live here and would prefer to sell it and move but I can't justify selling it at TOO much of a "loss" (I say that word tongue in cheek since it will - thank the good Lord - have no mortgage).

A home just went up for sale up our street for $850,000 (it has 2 more acres than us and is probably 2x nicer). She said she was going to sit on it and not lower her price. I have a feeling she will be sitting for a LONG time...

 

[Diegosmom]

We bought 5 years ago in NC and the market was on the up and up. We paid 143000 and the house appraised for 149000. Our plan was to stay a few years and move. We expected the house to increase in vaule to about 200,00 within 3-5 years...yeah right. We put 0 down and after 5 years still owe 138,000. I would assume we might be able to pull 150,000 for the house. But after we pay a realtor and often here they want buyer to pay closing. We would probably walk away with almost nothing...not to mention all the money we have out in (painting inside and out a new ac/heat unit and I am sure we are going to have to do a roof before we sell)...

But that being said we are considering a move to mass. Both my uncles are selling my grandparents places (2 different house...dads parents and moms parents) and I would have thought both houses would be at least 350,000. They are both good size houses with lots of land. But pretty sure they are going to list both for 220,000 and I am sure if hubby and I wanted to buy we could get either for 200,000. So that is good news for us.

I really thought the market would pick up but I so dont see that happening.

 

[mom2val]

.

 

[Muushka]

I'm sorry OP, that is so discouraging.

But with the way the foreclosures have been held off (why, I will never know. Let the housing market crash and then we will get out of it!) it will not get better for at least a couple of years. And more than likely will get worse soon.

But on the positive side, where ever you move more than likely will have taken a hit so you can buy at distressed prices.

Good luck!

 

[ccgirl]

OP I am very sorry. Where are you in MA? 115 sounds unbelievable for any house in our state?

There's plenty of places in MA where a home would sell for 115K. Location is a huge thing in real estate. OP - is your listing price in line with what the home is appraised for or is the offer?

Good luck. I know it's not easy.