I need to make some sense out of all this...

By Lu Kalaj

Real Estate Sales Representative with Vision Realty Centers

May 23, 2008 05:37 AM

There is little joy in gaining when it is at someone elses loss. The house two doors down has been foreclosed, and priced to sell $100,000 less then the other house. Why do I get the feeling, that foreclosure will be the next best thing for sellers, since thats the only way banks will accept short sales of that price difference. Why do I get the feeling that home ownership truly only applies to a mortgage free home? I'm just trying to make sense of this housing industry as we come to know it today.

How come I get the feeling, that something is seriously wrong here?

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Susan Hilton

CENTURY 21 Beal, Inc. - College Station, TX

Texas Aggie Real Estate, College Station Bryan Texas Real Estate

Buying real estate, buying stock, investing.... it all goes together.

No one complained when they were making TONS on appreciation without doing any work -

Real estate is a cycle....

May 23, 2008 05:53 AM

Shaun Wren

AGENTFORLIFE - Lakeland, FL

Susan hit the nail on the head. How much was the propert worth 3-5 years ago?

May 23, 2008 05:59 AM

Steve Hoffacker

Steve Hoffacker LLC - West Palm Beach, FL

Certified Aging In Place Specialist-Instructor

Lu, it's unfortunate, but I think many of us knew that the uncontrolled acceleration of values needed to stop. We are just seeing a severe market correction.

May 23, 2008 06:07 AM

Rosario Lewis

DDR Realty - Newburgh, NY

GRI, SRES - DDR Realty - Orange County, NY

We all become a little queasy when the boat is rocking. It will take some time before the market stablizes, but I believe stabalization is coming.

May 23, 2008 07:55 AM

Yvette Smith

LONG & FOSTER - Williamsburg, VA

Realtor In Williamsburg VA, Homes for Sale

Hi Lu,

I'll have to agree with Rosario...this market can certainly make you queasy. But, this too shall pass.

Thanks for posting!

May 25, 2008 10:29 AM

Jeff Thornton

Jeff Thornton ABR CRB CRS CSP e-Pro GRI - Lansing, MI

ABR CRB CRS CSP e-Pro GRI

throughout the country uncontrolled value growth or the bubble is blamed on the falling prices and foreclosure. I struggle with this bing the case throughout Michigan as appreciation was strong but not out of control. I bet most areas averaged 4-6 % throughout the growth period. We have economic issues that we need to tackle. Somebody is going to notice what a great palce Michigan is to live and how affordable it is and they are going to move their businees here.

Jun 12, 2008 01:15 AM