Thursday, April 01, 2010

Housing Market

Sure, my parents' house was on the market for over a year but I didn't the housing market was that bad until the house next to mine went on the market this week.

I bought my house four years ago, back when everything was hunky dory in the housing/financial sectors. Then, thanks to my old roommate and some shady loans, the bottom dropped out faster than I could down a pitcher. My parents' house took a while to sell but they still got out at a good price.

This week a Shorewest sign was posted in the front yard of the house next to me. The old guy who was living there passed away two years ago and his kids have been mowing the grass and shoveling snow there ever since. I figured they'd eventually put it on the market at some point but for the last two years it was kind of nice having outdoor parties and not have to worry about being too loud or anything.

But what shocked the fuck out of me is their listed asking price. It's 70% less than what I paid for my similarly sized house. Its also substantially less than what I owe on my house. (While I have made extra payments to principle I've also put money into the market which as of late has done much better than a 5% return - a little credit to the FA here.) That being said, now I'm worried about what kind of people will be moving in and dealing with that black/white kitchen floor. Hopefully they're both cool and pool players. Supposedly the pool table in the basement is included in the sale.

No comments: