How Much Equity in Your Home Have You Lost?

[tbone]

Anyone ever go to Zillow.com? Pretty useful site to see real estate comparisons, recent sales, tax rates etc. in your area, and around the country. I used it to lower my taxes last year by $1200. It should have been a lot more.

According to them, my home was worth a high of $242,000 in 2006 and is now worth a whopping $146,200. A $95,800 loss in 5 years. :mad2: And it continues to tank.

If your tax rates continue to go up, or have remained steady despite the downturn, use this as a reference to get your county tax assessor to take another look.

[MOTOWN]

Before i sold my house my taxes went from 7,500 to about 4,000 and appraised value from 256k to 81k!

go figure!

[Siege]

Fortunately we bought our first house on the upswing of the market in 2004 and were able to make a small profit selling it in 2010. The house we bought in 2010 is showing $75K appreciation but I question how realistic that is in this market.

[guspech750]

We bought our first home in 2001 for $153k. Sold that in 2004 for $235k. Bought our current home in 2004 for $272k and had it appraised last year to refi at $254k.

Honestly. I want the market to tank more so I can really get our property taxes lowered. We are paying just shy of $7,000 a year. Total BS.

Let it tank. I'm not moving anytime soon.
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Eaton Swap + 4.10's = Wreeeeeeeeeedom!!

[boatmangc]

In 05 mine was worth 1.25M on Zillow, now 450K
It's a shame we can't write that off!
And my property tax during the same period went UP 34%!

[dohc324ci]

Central California home high of 800k in 2005 to low 300s in 2010. Only benefit is the lower property taxes. I sold my previous home to get into the current one when the market was heading down so it worked out for me ind the end for the most part. It's tough to see the market tank like that but the housing values were so unrealistic it was a matter of time. BTW, it is SHOCKING to see what kind of home 800k could get you in other parts of the country. I visited (2006) NC Apex/Cary/Raleigh area wow with high tech jobs to boot; at that time. I tried to sell to relocate in mid 06 but the market started to tank and backed off and settled for the another home in town.

[gdsqdcr]

Northern Cali. Bought in 04 for 710K. Currentley worth, per Zillow, ~ 540K. It is now just a rental for my wife and I. We bought a second home almost 3 years ago, asking price was north of 700K, and we got it for 500K. Per Zillow it has dropped as well, but not much. Fine be me, we aint moving anytime soon.

[duhtroll]

My first home appreciated 78% between 1998 when I bought it and May of this year, when I sold it.

My current home has appreciated by $25,000 already since I bought it, including the basement finishing which is almost complete (so of course I have about $12,000 in the finishing).

According to the housing market here, there was no such thing as a recession. Every house we were interested in when we were looking last spring was sold in under 48 hours from the time it hit the market. We also looked in spring and summer of 2010. The only houses left on the market after three days were unsold for a reason.

Zillow applies national trends to local markets, and therefore is only to be used as a (very) wide estimate. We sold our home and it looks like there was a huge spike in the value of the home at time of sale, after which it dropped again.

Value is subjective.

[BODYMAN]

Bought my existing home 2004 for 254,000 now probably worth around 260ish so no loss, Hopefully the county I live in with large 7-10 acre sites have overall weathered the storm OK. There again a value is just that. Question is if Ur wanting to sell how much could u actually get for it. I do feel sorry for the ones who had a house valued around 5-700,000 and now worth 300ish but there local gov. is still taxing it at a higher value.

[Shaijack]

1976 bought my house for $52,500.00
2005 appraised for $318,000.00
Katrina hit and house was 90% rebuilt ($170,000.00)
2011 appraised for $247,000.00
Taxes went from $300.00 to $1,900.00

[fastblackmerc]

Not Enough!!!!!!!

[Fosters]

Bought in 06 (dammit) at 172, worth maybe 110k now. With how awesome this house is built, I seriously doubt it lasting the full 30 year loan... Was built in 04 and by 2011 I've replaced or fixed every appliance/mechanical thing that came with it, except the water heater. hvac, fridge, microwave, dishwasher, washer, dryer, garage door opener, fuse box, garbage disposal, you name it... And the house itself moves when it's windy... And it snows in the garage (haven't figured this part out yet):

http://fbcdn-sphotos-a.akamaihd.net/hphotos-ak-snc6/155077_482188389825_648824825_ 5532482_3393029_n.jpg

[guspech750]

Bought in 06 (dammit) at 172, worth maybe 110k now. With how awesome this house is built, I seriously doubt it lasting the full 30 year loan... Was built in 04 and by 2011 I've replaced or fixed every appliance/mechanical thing that came with it, except the water heater. hvac, fridge, microwave, dishwasher, washer, dryer, garage door opener, fuse box, garbage disposal, you name it... And the house itself moves when it's windy... And it snows in the garage (haven't figured this part out yet):

http://fbcdn-sphotos-a.akamaihd.net/hphotos-ak-snc6/155077_482188389825_648824825_ 5532482_3393029_n.jpg

Well that's simple. Clean off your work bench and it won't be so cluttered. :)


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- Sent from my iPhone
Eaton Swap + 4.10's = Wreeeeeeeeeedom!!

[DEFYANT]

We took a hit, but not that bad. I cant imagine what it would be like to be upside down in my house! Market has stablized here and some houses sell for a profit, but not by much. I figure by the time I am looking to sell, the market should be up again.

[RacerX]

None. Bought in a short sale just before the market fallout in 08. Down to 2.14 in a refi three weeks ago. Yes, I said 2.14 percent.

[DEFYANT]

None. Bought in a short sale just before the market fallout in 08. Down to 2.14 in a refi three weeks ago. Yes, I said 2.14 percent.

Care to share with what bank and for how long?

[RacerX]

Ocwen Financial. Mortgage was sold off to them recently.

[gdsqdcr]

None. Bought in a short sale just before the market fallout in 08. Down to 2.14 in a refi three weeks ago. Yes, I said 2.14 percent.

Points? How long is the term?

[RacerX]

No points paid, thirty year. They literally said before this refi: "We do a lot better refinancing with our customer's than Obama's plan can ever hope to do." I thought we would get 4.x, never even hoped for this.

[cruzer]

Bought in 1977 for $ 75,000----for sale now at $ 259,000---up $ 19,000+ in last year. location, location, location. I really feel that we are very lucky--equity will allow us to live out our lives comfortably. Now, all we have to do is stay healthy ;), Maury

[HammerDown]

Well that's simple. Clean off your work bench and it won't be so cluttered. :)


---
- Sent from my iPhone
Eaton Swap + 4.10's = Wreeeeeeeeeedom!!


Hey, hey--according to "fordfrk" that is the way a garage SHOULD look:D