http://www.ofheo.gov/media/pdf/4q07hpi.pdf
Some of the graphs are pretty astounding.
I didn’t buy my house as an investment, I bought it as a place to live and raise my kids. I don’t have to sell it anytime in the near future. It would take a helluva lot more depreciation before my equity built up over 15 years of appreciation and payments would be depleted. So, I don’t really give a crap.
I’m far more concerned about how my TSP value is doing.
Don’t remind me…
I anticipate selling this year for 10-20k less than I bought for 7 years ago. Oh, joy.
Jodi
I’d say I’m down about 20% off the high a few years ago. Still 40% above what I paid so it’s no big deal.
Dave
Dave, I have an appraiser friend who works in 4 bay area counties. 3 of the 4 are still declining but he says Marin is already moving up again.
Down about 30% from two years ago; but still up 100% from when I purchased 7 years ago so I am not worried, yet.
according to the county tax assesor…my house fell $10k in value. 
Don’t remind me…
I anticipate selling this year for 10-20k less than I bought for 7 years ago. Oh, joy.
Jodi
Aren’t you still ahead, though? I mean, let’s say you had paid out rent…$700/month place for 7 years is nearly $60,000…plus you’ve probably been writing off mortgage interest on your taxes, etc…
I doubt it. My property taxes are 3.5%…
Then with fixing plumbing, updating electrical…
I think in 7 years I’ve paid about 5-7k in principal or something ridiculous. I refinanced after a year so had to pay a bit for the refinance charge. But it did allow me to have my dog and not having to share space with strangers was pretty awesome.
Jodi
Down 20% from the top of the market, but still well ahead of what we paid for it.
Doing OK. Not seeing any appeciation, but value hasn’t decreased. We’ve been in the house 10 years and value has about doubled. Refi-ed after 5 years to a 15 yr, so we only have a few years left before it’s free and clear. No plans to sell anytime in the near future so current values are not a big concern. If anything, it’s helping keep the tax rates lower -which is nice considering how much other things are inflating.
The most hurting area up here in the Bay Area is Eastern Contra Costa County. Antioch and Brentwood have more upsidedown mortgages than right side up ones. Walnut Creek - Alamo - Danville are doing relatively well, I see more plaaces for sale but prices are not dropping at nearly the rates they were a year ago. Two years ago houses in my development (3bd/1ba, 1100 SF bult in 1952) were going for $700K but they are down to about $550 or so now. Since I paid $278K in 1999 and refinnaced with a fixed 30 year at 5.125% in 2005 it’s a good time to sit back and enjoy the spoils of timing things just right.
I will be livid if the government decides to reduce principals on people loans to avoid foreclosure and does not reduce mine as well, effectively punishing me for buying what I could afford.
Dave
I will be livid if the government decides to reduce principals on people loans to avoid foreclosure and does not reduce mine as well,
I hate to break it to you, but you actually should have a strong interest in making sure your neighbors do not go into foreclosure…
And we are far from reaching bottom in this bear market for Real Estate…
We’re up 13% from 4 years ago. Slightly ahead of inflation, I believe.
When we bought our unit–this was a brand new 4 townhouse complex–I did my own comprehensive market analysis of comparables in the area to make sure we were not overpaying. Everything else on the market was around $315 - $330 a square foot and this was stuff that was built in 2004-05, asking for our place was $290 square/ft, so I felt pretty good with the risk, reward tradeoff of buying around the peak of the housing cycle–although the market softening had really started in fall of 2005.
A week ago, our townhouse was appraised for 2% higher than we paid for it in Jan of 2006, which was pretty close to what I had estimated, given recent transactions in the market. So overall, I’m feeling pretty good–for now!
Im getting killed here in Florida.
My job moved me down here and we bought in June of 2005, and now I may have to move again in 3 months.
I bought at the top and may have to sale at the bottom.
I easily could lose $40,000.
great
OK. Bought in early 2004 and its up 40 % … but 10-20 % off what it would have sold for in late 2006. Looking to re-fi. and squeeze an extra $10K out of it for minor repairs. Its just 950 sq. feet so at the bottom end of the market (where there is the most going on in poor states like mine). I would like to sell in 2010 and not expecting it to be much worth much more or less than right now.
If you believe Zillow:
http://i25.tinypic.com/sg7afb.gif
Yellow: USA, Green: California, Red: Orange County, Blue: My House
For us, it’s down around 15 to 20% from the peak, but still up a lot from 1998 when we bought it.
Provided my deal doesn’t fall thru at the last minute (new buyers take possession May 1), i’m up 158% since September of 2004, and approximately 65% since early 2006.
VERY lucky timing for me.