Housing prices sliding further into the gutter.

[odenspike]

I sold my house in Central plano (coit and legacy) in March for around $40k less than what it appraised for in 2008. House was in great shape, clean and ready to move in with lots of upgrades. Showed it about 90 times in 7 months. Ended up selling it to an investor from Israel who turned it into a rental property for $150/mo more than my mortgage/tax/ins bill. I hated to let it go so cheap, but getting rid of it put $18k in my pocket by year end. I got a check as closing for $512. Girl at closing said most sellers in Plano were writing checks for $10k or MORE to get rid of their homes. Glad to be out of the house and out of Dallas really. Life in CS has been very relaxing.

Man that is where I live in fairfax meadows edition across from Tom thumb. I thought houses around here sold pretty quick. I can't believe it showed that many times before selling and then for so much under value. That is scary. We had thought about moving but certainly don't want to take that hit.

[aggie97]

Everyone is shopping for deals due to the number of empty foreclosures in the area. Then you have to figure in that 1 in 20 loan apps are getting approved and you then realize to move the home, your asking price has to be much less. Thankfully, I had enough equity. My house wasn't perfect but it was an easy 9 of 10 for someone to move in and enjoy. Great layout, 4/2/2 with 2 living areas. Mine was FSBO and I was paying buyer's agent fee to cut my costs to sell.

[347Mike]

Everyone is shopping for deals due to the number of empty foreclosures in the area. Then you have to figure in that 1 in 20 loan apps are getting approved and you then realize to move the home, your asking price has to be much less. Thankfully, I had enough equity. My house wasn't perfect but it was an easy 9 of 10 for someone to move in and enjoy. Great layout, 4/2/2 with 2 living areas. Mine was FSBO and I was paying buyer's agent fee to cut my costs to sell.

Where are you getting your numbers on loan apps getting approved? I am not doubting, just curious. I know a few people who applied and got approved with no issues over the past year.

[aggie97]

Where are you getting your numbers on loan apps getting approved? I am not doubting, just curious. I know a few people who applied and got approved with no issues over the past year.

two family friends that work at mortgage companies. One left to go elsewhere because the bank's requirements were just too strict.

I also had a couple verbal offers, but "we need to make sure our Pre-approval is still good..." only to never hear from them again. Maybe it was my price range...?

[SVT Lurch]

Which mortgage companies? (PM if you want) The numbers I've seen are almost exactly opposite of that.

[TexasDevilDog]

Housing prices fell in March to their lowest point since the downturn began, erasing the last little bit of recovery from the depths achieved two years ago, according to data released Tuesday.

Great news for people looking to buy a house. Housing is becoming more affordable. Now when we pay off the rental, we can buy another.

[mikec]

Jealous

Working on building a paradise of sorts for my boys. This way they and their friends actually want to hang out where we can oversee...