Monday, December 17, 2007

Home equity hell:

I realize that these are national estimates, and thus not representative of my situation per se, still I think if we go by the dates they set. If values go back to 2005, 2004, or even 2002 levels where would that put me?

Well I got my place virtually at the end or 2005. And the guy I bought it from lived there only a 2 or 3 years. And he bought it for less than 10% of my purchase price. If he bought it in 2003 then that would be my 2003 level: -10% in value. If it was 2002, then even better. Either way hopefully it's less than that, because I don't have that much equity :(. That is not factoring in improvements, which will certainly help. The other good thing is relatively few foreclosures in my area (3 in the last 2 years out of 200+ units, iirc).

We'll see how this goes with fuel prices going up. This Spring will tell us how that goes.

Re: Previous Post: Unfortunately youtube removed that video in my previous post; possibly because of the song it used. Or it could have been the creator himself.


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