Quote:
Originally Posted by soulsurv
You're correct, Randy. The mainline is indeed insular. The article went on to give pages of median prices for the tri-county area, but those were last year's number, I believe, and they would not give a link to it (you have to buy the mag).
I went to an Open in Middletown, Delco, last Sunday and was told by the realtor that Middletown is actually going UP in price by 8%. I don't think I buy that either: how can he tell what's going up if the houses are sitting on the market? This home was "underpriced" at 269,000 and would need about 80K in renovations; it was a wreck. He showed me "comps" in the 400s, but they were much bigger homes with substantial grounds, unlike the one at the Open. I'm beginning to get really POed at being treated like an idiot.  <------ (what I would have liked to do to the realtor) |
What were the selling dates of those comps he showed you? Did he also share the days on market? I really think these homes aren't moving because people are trying to get what they owe on the home...which you can't really blame them. You've got to be realistic, though.
My brother in law couldn't sell his home for what he owed...so he had to "give it back" to the bank. He had a job transfer. I don't know all the dynamics of it, but I guess if you move out, leave the home in good condition, and don't force the bank to evict you, it's somehow slightly less damaging to your credit. Not sure how that works technically. Do they write a nice little note in your credit report?