809,258
We have hit record highs and surpassed peak 2006-2007 prices. In most cases if people are underwater they would have had to refinance. There may be a few circumstances and homes where they have not yet reached the peak purchase price, but very rare. -Kasey
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Doug Dawes
Topsfield, MA
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Lyn Sims
Schaumburg, IL
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Michael Jacobs
Pasadena, CA
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Nina Hollander, Broker
Charlotte, NC
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Debe Maxwell, CRS
Charlotte, NC
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Anna "Banana" Kruchten
Phoenix, AZ
5,216,409
There are some lagging areas where people are still upside down!
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Doug Dawes
Topsfield, MA
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Lyn Sims
Schaumburg, IL
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Michael Jacobs
Pasadena, CA
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Nina Hollander, Broker
Charlotte, NC
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Debe Maxwell, CRS
Charlotte, NC
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Anna "Banana" Kruchten
Phoenix, AZ
1,027,602
Our values rose so high in those years, there are definitely folks out there who are just now at the point where they can afford to get out, often without recuperating their entire down payment.
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Doug Dawes
Topsfield, MA
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Lyn Sims
Schaumburg, IL
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Michael Jacobs
Pasadena, CA
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Nina Hollander, Broker
Charlotte, NC
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Debe Maxwell, CRS
Charlotte, NC
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Anna "Banana" Kruchten
Phoenix, AZ
2,310,576
It is rare to see a home out here with no equity. I suppose it can happen but not in the Denver Metro Area.
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Doug Dawes
Topsfield, MA
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Michael Jacobs
Pasadena, CA
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Nina Hollander, Broker
Charlotte, NC
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Debe Maxwell, CRS
Charlotte, NC
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Anna "Banana" Kruchten
Phoenix, AZ
1,035,056
We still see it here, Anna. In fact, not for every community, but some have gone up higher than in 05. And people are buying. They keep the investors out by making them hold it for a year before being able to rent and limiting it to one rental per year. Investors can still buy but they are more restricted.
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Doug Dawes
Topsfield, MA
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Michael Jacobs
Pasadena, CA
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Nina Hollander, Broker
Charlotte, NC
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Debe Maxwell, CRS
Charlotte, NC
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Anna "Banana" Kruchten
Phoenix, AZ
4,572,183
I imagine there are nuances in some neighborhoods where this can/does exist.
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Debe Maxwell, CRS
Charlotte, NC
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Doug Dawes
Topsfield, MA
-
Lyn Sims
Schaumburg, IL
-
Nina Hollander, Broker
Charlotte, NC
5,049,450
Many areas here are where we were at the peak, but there are exceptions.
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Debe Maxwell, CRS
Charlotte, NC
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Doug Dawes
Topsfield, MA
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Michael Jacobs
Pasadena, CA
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Nina Hollander, Broker
Charlotte, NC
5,005,659
No..very rare to see anyone selling that is up side down..we have very few short sales or foreclosures.
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Debe Maxwell, CRS
Charlotte, NC
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Doug Dawes
Topsfield, MA
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Michael Jacobs
Pasadena, CA
-
Nina Hollander, Broker
Charlotte, NC
3,988,007
I don't know of any neighborhoods in my town that have not fully recovered and are on the upswing thank goodness.
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Doug Dawes
Topsfield, MA
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Lyn Sims
Schaumburg, IL
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Michael Jacobs
Pasadena, CA
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Nina Hollander, Broker
Charlotte, NC
2,362,977
I just took a hit on selling some stock - it tanked and there was nothing to do but move on a little lighter in the wallet - I suggest the same to your client
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Debe Maxwell, CRS
Charlotte, NC
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Doug Dawes
Topsfield, MA
-
Michael Jacobs
Pasadena, CA
-
Nina Hollander, Broker
Charlotte, NC
2,684,109
We are finally leveling out. Not seeing anymore upside down properties.
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Debe Maxwell, CRS
Charlotte, NC
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Doug Dawes
Topsfield, MA
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Michael Jacobs
Pasadena, CA
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Nina Hollander, Broker
Charlotte, NC
1,239,901
Even in Silicon Valley there are those who bought at the peak (05-06) went took a HELOC, a boat, a couple of cruises are breaking even. We have had double digit appreciation yearly since 2012. Most owner barely hanging there put zero down.
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Debe Maxwell, CRS
Charlotte, NC
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Doug Dawes
Topsfield, MA
-
Michael Jacobs
Pasadena, CA
-
Anna "Banana" Kruchten
Phoenix, AZ
5,583,278
I can't believe anyone in an area that's selling, is upside down....
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Doug Dawes
Topsfield, MA
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Michael Jacobs
Pasadena, CA
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Debe Maxwell, CRS
Charlotte, NC
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Anna "Banana" Kruchten
Phoenix, AZ
5,104,931
This situation has more often than not disappeared in my market. We have some neighborhoods that maybe break even at best. But to the extent this exists it's in very high end homes.
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Doug Dawes
Topsfield, MA
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Lyn Sims
Schaumburg, IL
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Michael Jacobs
Pasadena, CA
6,393,494
We still have a few dozen foreclosures around town.
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Debe Maxwell, CRS
Charlotte, NC
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Doug Dawes
Topsfield, MA
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Michael Jacobs
Pasadena, CA
5,772,575
Anna,
I have not heard of anything in our area, but it is still possible that it is happening. A
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Doug Dawes
Topsfield, MA
-
Michael Jacobs
Pasadena, CA
-
Anna "Banana" Kruchten
Phoenix, AZ
1,712,676
The condo we bought in Jupiter Florida was about $175,000 off from the peak. Many still can sell.
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Doug Dawes
Topsfield, MA
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Michael Jacobs
Pasadena, CA
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Anna "Banana" Kruchten
Phoenix, AZ
1,844,301
You bet, all the time. You don't have to look far to find some. I am selling one now that is just slightly over what he paid for it & it's not selling very well.
All those years & after selling, he'll be in the hole.
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Debe Maxwell, CRS
Charlotte, NC
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Doug Dawes
Topsfield, MA
3,071,489
4,319,419
Anna Banana Kruchten, CRS - this is true of some of the local towns in our area. This proves, location IS important for investment, too.
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Doug Dawes
Topsfield, MA
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Michael Jacobs
Pasadena, CA
544,014
During the crash, investors from high priced areas such as California bought sight unseen bundles of cheap properties in high crime areas in other states, thinking they can't go wrong buying houses for $30,000 per house. Well, many of those houses have negative value today, accruing property taxes and city health department fines. Blocks upon blocks of houses are sitting boarded up. Some real estate marches to a beat of a different drummer.
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Doug Dawes
Topsfield, MA
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Michael Jacobs
Pasadena, CA
3,986,258
Most of my aea has seen a good recovery except for a few way out of the way places.
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Doug Dawes
Topsfield, MA
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Michael Jacobs
Pasadena, CA
5,230,113
I have a client that just bought a new home and will be renting out their home for the next 2 years in my opinion.
They bought brand new in 2006 and you know they are always a bit higher and it's taking considerable time to catch up.
That is the only exception in our market right now though - most have 30%+ equity if they bought in 2006!
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Doug Dawes
Topsfield, MA
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Michael Jacobs
Pasadena, CA
4,272,548
Are we getting too close to the bubble again Anna Banana Kruchten, CRS
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Doug Dawes
Topsfield, MA
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Michael Jacobs
Pasadena, CA
2,220,654
7,836,139
Thanks for sharing your observations.
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Doug Dawes
Topsfield, MA
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Anna "Banana" Kruchten
Phoenix, AZ
1,196,798
There are a couple of neighborhoods in our small community of 8700 that have not reached the price point they paid during the run up frenzy Anna Banana Kruchten, CRS
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Debe Maxwell, CRS
Charlotte, NC
4,800,082
We still have some pockets that are well below the values of 2004-2006.
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Doug Dawes
Topsfield, MA
1,622,432
I see a lot of price reductions and probably by the end of summer it will be even more. Inventory is up, but buyers are careful with paying such high price.
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Doug Dawes
Topsfield, MA
4,434,127
3,345,091
4,936,705
Denver market has increase so much, I do not see many situations like yours.
1,502,998
117,135
WE have not quite reached the high yet. We are an area that is on the outskirts of San Diego, so we were hit super hard.
1,543,823
Here's what I see in San Diego: it's a myth that all neighborhoods have risen up to above 2005 prices. Many areas never fully returned to their top price, but most all areas I've sold in the last 5-6 years seem to have recovered into some sort of equity to absolute windfall.
1,725,996
2,182,552
We are very close , but we have not (accross the board ) caught back up to our record high (4th quarter 2006)