well I just got screwed

[moneypit]

Next door neighbor just put his house on the market at 35k less then he paid for it 3 years ago. My house was slated for a sign the first week of Jan looks like I might have to wait a year for it to fall of the comp list plus selling the house 20k below market im gonna get some great neighbors

 

[91trunk]

Next door neighbor just put his house on the market at 35k less then he paid for it 3 years ago. My house was slated for a sign the first week of Jan looks like I might have to wait a year for it to fall of the comp list plus selling the house 20k below market im gonna get some great neighbors

Damn. Why? Is he hurting for cash?

 

[Crazzy_Al]

That sucks, man. Sorry.

 

[moneypit]

Nope he bought the house for his daughter to live in she moved out about 2 years ago and the shit ass son moved in. well dad his company to Novi and the son works for dad so he moved there also (novi) and he just wants the house gone

 

[Golden]

Damn, very sorry to hear.

 

[91trunk]

Nope he bought the house for his daughter to live in she moved out about 2 years ago and the shit ass son moved in. well dad his company to Novi and the son works for dad so he moved there also (novi) and he just wants the house gone

Rental property

 

[moneypit]

im worried im going to get people living there that normally couldnt afford the house so they will be section 8 (low income)

 

[DRKCYDE]

Don't you think it is going to keep getting worse, before it gets better?
I wonder what keeps people living here.

 

[91trunk]

Yikes. That would suck.

 

[redvette93]

Welcome to detroit, soon to be a ghost town thanks to the automotive industry
I don't know why every one thinks that real estate is going to keep going up? the lack of jobs in this area will make everything drop.
No jobs = no work = no money

soon to be warm weather bound.

 

[Fryguy302]

Although a single sale can affect an appraisal, if it's just one comparable which was sold below market, the appraiser can normally adjust around it. Problem is, it may not have have been sold below market, just below what it used to be worth.

http://www.motownmuscle.com/forums/showthread.php?p=503953#post503953

 

[SSunset]

soon to be warm weather bound.

I hear ya, i might be too. Much sooner than I thought.

 

[Stalker]

can you pick it up and turn it?

 

[moneypit]

Its below market 3 houses down sold at 165 a few months ago, I just hope to break even or get close

 

[2QuickZ's]

Sorry to hear of your bad luck. As others have said, if you are in a financial position to pick it up as a rental property, that might be ideal. Renters are less likely to be dickheads if they know the landlords live next door.

soon to be warm weather bound.

That was my plan as well until the company the wife and I work for gave us both raises last year that the majority of our coworkers didn't get. We decided to stay a while longer and bought a different house back in March. I'm already regretting that decision. We should have bit the bullet and moved out of state and out of the auto industry.

Anyone know of a company hiring senior manufacturing engineers specializing in the assembly of interior components? :lol:

 

[wikdsvt]

BUY land, buy land, buy land, buy land...


The BEST advice I've ever been given. There is this run down farm house near my parents place on 15 acres with 2 silo's 3 gigantic barns and 1 smaller one $165.000. They were asking $210.000 and have been slowly coming down in price.
I've done a little research, splits are available in 2009.

When I was looking in 1991 in that area, 1.5 acre lots were going for $19,000.


do the math.





For those that can afford to stick it out, there are some terrific deals out there. Another house in Brighton in a nicer (15 yr old) subdivision, was just reduced to $379k Previously it was on the market for over $405k,
It is next door to a good friend of mine's parents house. They are dumping a lot of money into it, trying to sell it.


I'd avoid Condo's like the plague. They are like trailer parks. once you buy one, you're stuck with it. There are SO many out there, selling a used one is very difficult.... don't expect to make a profit, just be lucky to get out of it what you have into it.

 

[moneypit]

where do you live?

 

[That Guy]

Does this mean the compund is a no go now? Cause I was really looking forward to that Memorial Day blowout with the pig roast.....

 

[moneypit]

Does this mean the compund is a no go now? Cause I was really looking forward to that Memorial Day blowout with the pig roast.....

still working on it, but the getting ass raped on the sale of this house is gonna mean no new kitchen for the new place

 

[wikdsvt]

The farm house and 15 acres is in Howell.. about 4 miles north of the outlet mall. (Backs up to the Shiawassee River, which eventually dumps into Saginaw bay)


the other house is in Brighton, Near Mt. Brighton in Whispering Pines sub.