House Value Drop

2255 Views 18 Replies 13 Participants Last post by Admiral Nelson, Jun 15, 2011

javagirl0411

Discussion Starter · Jun 14, 2011

Anyone look at zillow to gauge an estimate of where their house value stands? Well, I do...yesterday my house was standing at 255K (75K less than what I purchased it for)...today it is at 238K!!! I live south of Seattle and so far, we haven't been hit as hard as some places but looks like that might be changing now.

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abatardi

· #12 · Jun 14, 2011

Enscheff said:
The value of your house went down? Wow...shocking...

In other shocking news, the Sun rose in the East this morning.

She was shocked at the fact that it dropped $17k in a day according to zillow, not that it is down in general.

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abatardi

· #16 · Jun 15, 2011

13FoxTrot10 said:
And you wont admit that you pumped-it HARD for the mortgage company/broker to get that loan done? Isnt it referrals that get you guys work? Where do the referrals come from? Is it the new homeowner that got an awesome deal because you realistically appraised a home or is it because the broker got a good number from you to get the deal done? I assume you are the ONE honest "appraiser" (ie; mortgage bank employee) out there.

Seriously?

The housing market, that ONE SAFE investment the average American had, has been and IS being picked clean. Joe Blow Sheeple has no idea how they have been RIPPED of their "American Dream". Next Up? Retirement Funds.

And no, I'm NOT upside down on my mortgage. Full disclosure.

There are a few careers I would never admit to in public....
1. Broker
2. Banker
3. Appraiser

Whoa, give the guy a break. You don't know his circumstances or what he was even doing before the crash to have any involvement in it (or if he was even an appraiser then). Not everyone in those professions are all evil-doers with crimes against humanity. Sheesh.

I remember buying a house in Bay Area at the time, and an appraiser would come in and value something at $750k and it would get bid up to $900k and the buyer would cut a check for the difference... it was irresponsibility of the bankers and brokers and buyers for the most part, I wouldn't put the appraisers into the same bucket with some of those guys. How do you value something? Well, one huge part of the equation is what the market is willing to pay... The market was going nuts.

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