Quote:
Originally Posted by trularin
Steve, are you in a used or new house?
With the housing situation being what it is, a person with means could do well at the end of the first or second quater of 2009.
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The house is about four and a half years old.
It was appraised last week.
It has dropped 32% in value since it was first built in late 2004.
This is indicative of the market in Dallas.
I have seem some areas in Dallas the home values have fallen in excess of 50% in the last year.
Houses are NOT selling here right now. The foreclosures are bringing down the market in such a way that they are selling for less than new homes can be built for. I have seen many homes (foreclosures) sell for $28.00 to $30.00 per square foot. These are not beat up homes but ready to move into.
Anyone starting a new build job (speculative) right now is just stupid!