Negative Equity. Do you have it, how much?

[dgarza]

I just found out my house dropped another 10k, thanks Appraisal Office for that great bit of news.

We purchaed for 87k at 30yrs fixed at 7% and the current market value and appraised value is $71k. This is very very bad news as we were hoping to sell this year and reloate abroad to my home county. This has to be prosponed indefinitely now.

So I'm just being curious and wondering if any others are in the same boat, how it's affecting you and what you are trying to do about it (pay a little more to the principle each month to close the gap??)

[TheWoman]

We bought our home in 1999. I am so glad we did because home values are still more than we paid.

[dgarza]

We bought our home in 1999. I am so glad we did because home values are still more than we paid.

Ours was in August 2006 :(

[KristaLyn]

Ours is about even (we bought in September 08), we bought it as a forclosure for $232,000, and the house is only four years old. But our neighbor with the SAME MODEL house as us, down the street (same devolopment) paid $456,000 for the house new, so they have over $200,000 in negative equity.

[BeckyP]

We bought our house for $89,900 back in 03 it apprised at 170,000 last year and it is now on the market for 158,900. It's a tough market so we may not be able to sell but we would like to upgrade to a bigger house.

[beth119]

NONE! WOO HOO!

We bought ours in Jan 2008 for 180k. At the time, it appraised for 235k, and the ownder (flipper) was about to lose his shirt...so we got a GREAT deal.

Values in the area DID go down, but ours is still at 235k. We did a few minor improvements and upgrades after purchasing to help retain the value.

Sorry to all of you that do :( It WILL get better!

[jillibean_1978]

No clue if our home has went down. We bought 2 yrs ago in June and paid $50k. It appraised for $67(?) I think. Maybe $61k. I don't plan on moving til I either have to be placed in a nursing home or I go to my final resting place, so I'm not too worried about what others have to say about it. This place is priceless to me. It's our home.

[beetrothed]

We bought in March of 2006... :sad:

With putting down a large down payment and making extra payments, we've managed to only be behind about 4k (according to zillow...). But we paid way more for it than it's currently worth...


And we just moved... We're praying we can rent it out until we can get positive...

[dgarza]

We bought in March of 2006... :sad:

With putting down a large down payment and making extra payments, we've managed to only be behind about 4k (according to zillow...). But we paid way more for it than it's currently worth...


And we just moved... We're praying we can rent it out until we can get positive...

We were supposed to relocate this year back to UK. But are now thinking wait until 2011, get the house presentable for as little $ as possible. Then if we still have trouble come 2011 we will have to look into renting this one.

Thanks for everyone that commented!

[beth119]

No clue if our home has went down. We bought 2 yrs ago in June and paid $50k. It appraised for $67(?) I think. Maybe $61k. I don't plan on moving til I either have to be placed in a nursing home or I go to my final resting place, so I'm not too worried about what others have to say about it. This place is priceless to me. It's our home.

That is wonderful to hear!... Not that you may die....but that you feel that way about your home.

DH and I LOVE our house. It's been some work, but it is our HOME.

We have no plans to leave until retirement, when we are going to sell everything we own and travel the world! :smile77: