Home sales rise 12%

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  2. You have chosen to ignore posts from dog-lady. Show dog-lady's posts

    Re: Home sales rise 12%

    Sure home sales increased but the prices they sold for continue to go down!  What good is that?
     
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    In Response to Re: Home sales rise 12%:
    [QUOTE]In Response to Re: Home sales rise 12% : So home sales going up 12% is bad? You must live in bizarro world!
    Posted by Kirk6[/QUOTE]

    you incapable of asking or answering the question: "why"?
     
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  7. You have chosen to ignore posts from shumirules. Show shumirules's posts

    Re: Home sales rise 12%

    Kirk, home prices down in 19 of 20 markets last month, did Obama do that too?
     
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    In Response to Re: Home sales rise 12%:
    Sure home sales increased but the prices they sold for continue to go down!  What good is that?
    Posted by dog-lady


    Lower home prices and increased sales is not a bad thing. It sure beats homes not selling at all. It's a good sign. Of course, nothing positive is good enough for the republicans unless they have the White House and the entire Congress.
     
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    Re: Home sales rise 12%

    Mass home sales hit lowest levels in 21 years Originally Published on Tuesday, January 24, 2012

    BOSTON _ Home sales in Massachusetts in 2011 hit their lowest levels since 1990, despite low interest rates and “soft” median sales prices that dropped 3 percent last year, real estate market analysts reported today.

    At just 15,122, condominium sales also plummeted 16 percent last year to their lowest total since 1995, according to The Warren Group.

    The streak of five straight months of improvement in home sales was halted in December, when over-the-year sales were down 5 percent.

    There were less than 39,000 single-family home sales in 2011, down 6 percent from 2010. The last time there were that few home sales was 1990, when 35,819 homes were sold in Massachusetts.

     
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    Re: Home sales rise 12%

    I agree that homes are still highly overvalued. Interest rates are ridiculously low. I know three people who have bought homes or condos in the past month..so I would agree the market is starting to show life.
    I think housing prices will be kept in check as long as lending practices are as tight as they should be.
     
  12. You have chosen to ignore posts from WhichOnesPink. Show WhichOnesPink's posts

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    New-home purchases fall, 2011 worst ever for sales

    WASHINGTON (AP) — Fewer people bought new homes in December. The decline made 2011 the worst year for new -homes sales on records dating back nearly half a century.
    The Commerce Department said Thursday new-home sales fell 2.2 percent last month to a seasonally adjusted annual pace of 307,000. The pace is less than half the 700,000 that economists say must be sold in a healthy economy.


     
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    In Response to Home sales rise 12%:
    [QUOTE]NEW YORK (CNNMoney) -- The modest housing market winning streak continued as the Census Bureau reported Friday that sales of new homes rose again in November to an annualized rate of 315,000.   That was up 1.6% compared with the revised October rate of 310,000 and 9.8% higher than November 2010. The good news followed other recent positive industry reports. November sales of existing homes rose 12% year-over-year; homebuilding spiked nearly 21% compared with 12 months ago; and mortgage rates hit record lows this week. http://money.cnn.com/2011/12/23/real_estate/new_home_sales/index.htm?hpt=hp_t2
    Posted by Kirk6[/QUOTE]


    Wow.  there were 10 homes sold in November 2010, so that means this month, there were 11 homes sold.  BIG difference. 

    We can all breath a sigh of relief.
     
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  15. You have chosen to ignore posts from miscricket. Show miscricket's posts

    Re: Home sales rise 12%

    In Response to Re: Home sales rise 12%:
    [QUOTE]In Response to Re: Home sales rise 12% : Lower home prices and increased sales is not a bad thing. It sure beats homes not selling at all. It's a good sign. Of course, nothing positive is good enough for the republicans unless they have the White House and the entire Congress.
    Posted by AlleyCatBruin[/QUOTE]
    Alleycat..I missed your post earlier. Hope you are well and nice to see you back..!

    Okay..for all of the people out there who are saying lower home prices are bad...you are wrong. It's called a market correction. Housing prices rose at unsustainable levels during the Bush Presidency because lending regulations were relaxed( please note that I am not blaming Bush for this alone)..so demand went up. When demand goes up and supply is limited..then prices go up. Every economist will tell you the housing bubble was based on artificially high prices. Prices need to come down..lending needs to be strict. I would say they could still come down close to another 10 percent and be about where they should be.
    In MA..where the cost of living is ridiculous..the housing market is taking longer to recover..but there are for sure deals out there.
     
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    In Response to Re: Home sales rise 12%:
    [QUOTE]I just wish some of the owners of houses I've been looking at lately recognize this...    
    Posted by WhatDoYouWantNow[/QUOTE]
    lol..people still have unreasonable expectations when it comes to the prices they want for homes..especially single family homes and if you are looking close to any city area. I am not one of those people. I am putting a house on the market in the next couple of months..and will take the first reasonable offer. It is old and needs a lot of work..so I am setting the bar low for a quick sale. Of course..I have nothing to lose. I wanted a potato masher and instead got half a house..lol
     
  17. You have chosen to ignore posts from dog-lady. Show dog-lady's posts

    Re: Home sales rise 12%

    Whatever your house was worth in 2005, figure it's worth about 2/3rds of that now...if you're lucky!
     
  18. You have chosen to ignore posts from WhichOnesPink. Show WhichOnesPink's posts

    Re: Home sales rise 12%

    Okay..for all of the people out there who are saying lower home prices are bad...you are wrong.


    Um...it is if you owe more than it's worth. I feel bad for those people. But I guess you would tell them it's a good thing.
     
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    Re: Home sales rise 12%

    In Response to Re: Home sales rise 12%:
    [QUOTE]Okay..for all of the people out there who are saying lower home prices are bad...you are wrong. Um...it is if you owe more than it's worth. I feel bad for those people. But I guess you would tell them it's a good thing.
    Posted by WhichOnesPink[/QUOTE]
    Yes..I would actually still tell them its a good thing..sorry. If they took out a mortgage on their home and can afford the mortgage payment then they are not losing their home anyhow..they are losing the equity in it for sure..and they will likely have to stay in the house rather than upsizing like many do.
    Listen..real estate is an investment. Investment carries risk. Are you suggesting that the government step in every time someone makes a bad..or in this case..ill timed investment?
     
  20. You have chosen to ignore posts from WhichOnesPink. Show WhichOnesPink's posts

    Re: Home sales rise 12%

    In Response to Re: Home sales rise 12%:
    [QUOTE]In Response to Re: Home sales rise 12% : Yes..I would actually still tell them its a good thing..sorry. If they took out a mortgage on their home and can afford the mortgage payment then they are not losing their home anyhow..they are losing the equity in it for sure..and they will likely have to stay in the house rather than upsizing like many do. Listen..real estate is an investment. Investment carries risk. Are you suggesting that the government step in every time someone makes a bad..or in this case..ill timed investment?
    Posted by miscricket[/QUOTE]

    I suggest no such thing. Just saying it's not as black and white as you would like it to be
     
  21. You have chosen to ignore posts from dog-lady. Show dog-lady's posts

    Re: Home sales rise 12%

    I wouldn't consider real estate an investment. I f you love the house and want to make it your home that's one thing...but don't expect to get your money back!
     
  22. You have chosen to ignore posts from dog-lady. Show dog-lady's posts

    Re: Home sales rise 12%

    I agree that's the way it's always been... but lately with the economy the way it is, all bets are off!  It's still better than renting as long as you have no problem staying put for at least a decade, but it will never be like the "good old days" again, at least not in our lifetime (IMO).   Oh, and when you're under water on your mortgage, you have NO equity.   PS: There's a lot of maintenance with home ownership that you have to do, or the value of your home will depreciate.
     
  23. You have chosen to ignore posts from miscricket. Show miscricket's posts

    Re: Home sales rise 12%

    In Response to Re: Home sales rise 12%:
    [QUOTE]I generally agree, except in one sense -  it's only an "investment" in the sense of being sort of like a savings account. As you pay down your mortgage, you are gaining equity in the house. That's something you can take an emergency loan against. Or, as some of the people caught up in the crisis whose fault it is, you can take a loan against it for a speedboat. And when you sell it, you will get some of that back. And if its value further depreciates, this is somewhat analogous to parking your money in a savings account that pays interest lower than the inflation rate. WHich is pretty much all of them. So the money isn't completely vanishing (hopefully). But yeah, I would not think of it as a money-making investment.
    Posted by WhatDoYouWantNow[/QUOTE]

    The problem is that many people buying houses don't think the same way and consider it an investment. I know dozens of people who were buying then selling a couple of years later to make money. To me that's a risky venture because you never know what is going to happen.
    My remarks really were not meant to include the person who is purchasing a house for the long haul. Someone who is taking out a 30 year mortgage on a house they plan to be in long term isn't losing out on money because of falling home values. Over the course of 30 years..no homeowner thinks about the short term rise and fall of the market. They simply financed the house and make the payment until the house it paid off.
     
  24. You have chosen to ignore posts from dog-lady. Show dog-lady's posts

    Re: Home sales rise 12%

    http://boston.cbslocal.com/2012/01/31/boston-home-values-drop/
     
  25. You have chosen to ignore posts from Hingmarsh. Show Hingmarsh's posts

    Re: Home sales rise 12%

    After a divorce and then putting my two daughters through college, I was finally able to buy another house.  I closed in July 2005, the peak.  All my equity is gone and the house is really under water now but I can certainly afford the mortgage and is cheaper than renting.  But, we just found cracks in the foundation of the addition.  We have a structural engineer working on the cause.  He estimates to repair will be at least $15k and may be as much as the cost of a teardown and rebuild (100K?).  I was hoping the house would appreciate and I'd be able to sell and make a profit when I retired but that's not going to happen. 
     

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