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How are home sales in your area?

Sales of previously owned U.S. homes fell at the fastest pace on record in December~The National Association of Realtors said existing home sales fell 16.7 percent to an annual rate of 5.45 million units in December, a sharper decline than the 5.90 million unit pace expected.

 
grlygrlz2

Asked by grlygrlz2 at 2:16 PM on Jan. 25, 2010 in Politics & Current Events

Level 39 (106,530 Credits)
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Answers (31)
  • There's a little bump from the housing credit, but it's not statewide. It's also offset by the fact that we will break a new record for foreclosures in 2010.
    NotPanicking

    Answer by NotPanicking at 2:43 PM on Jan. 25, 2010

  • grlygrlz2

    Answer by grlygrlz2 at 2:17 PM on Jan. 25, 2010

  • Auction signs are up all the time in my area. We bought our home for $124K. When we refinanced for a better interest rate it was valued at $144K. Now we are trying to avoid a forclosure by doing a short sale. The contract that is being negotiated is for $49K. My area shows absolutely no signs of turning around yet.
    Anonymous

    Answer by Anonymous at 2:19 PM on Jan. 25, 2010

  • Non existent, except for sheriff sales. They are even having trouble with those and the houses are selling for peanuts.
    yourspecialkid

    Answer by yourspecialkid at 2:21 PM on Jan. 25, 2010

  • Up 4% where I live. Increase in my property value. I refi'd from 6% to 4.25% and gained equity. I'm in rural PA. Lucky for me people are being priced out of Baltimore and buying homes around here.
    IamPatSajak

    Answer by IamPatSajak at 2:22 PM on Jan. 25, 2010

  • we are not doing as bad as the rest of the country but home sales are down, 2 years ago people were buying them up because we have a huge lack of housing in our area. Now people cant afford the homes. We bought our house 2 years ago and i am now upside down on my mortgage, when we bought the house we had $20,000 in equity. we lost over 30,000 in two years.

    I am just so happy that my house is worth less then i am paying on it but i have a 30 year mortgage so i am bound to come out even on it at the end lol.
    3_ring_circus_

    Answer by 3_ring_circus_ at 2:22 PM on Jan. 25, 2010

  • Sales of previously occupied homes took the largest monthly drop in more than 40 years~ last month, sinking more dramatically than expected after lawmakers gave buyers additional time to use a tax credit.

    grlygrlz2

    Answer by grlygrlz2 at 2:25 PM on Jan. 25, 2010

  • new home sales are up in my area.

    hypermamaz

    Answer by hypermamaz at 2:27 PM on Jan. 25, 2010

  • We have a gorgous 5 bedroom, 2 car garage is the area just dropped to $89,000.00, what does that tell ya?
    mommorgan

    Answer by mommorgan at 2:44 PM on Jan. 25, 2010

  • We have a gorgous 5 bedroom, 2 car garage is the area just dropped to $89,000.00, what does that tell ya?

    There's a 4 bedroom 3.5 bath w/ an in ground courtyard pool and a tennis court up the road from us that's been on the market for almost 2 years now. Another one a few houses up stayed on the market a year and they gave up. Nobody can compete with the foreclosures.
    NotPanicking

    Answer by NotPanicking at 2:48 PM on Jan. 25, 2010

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