Home Buying in League City>Question Details

Lonestar, Home Owner in League City, TX

Has the houses in countryside in League city declined in value? If so, how much? We just bought our house two years ago and I wonder now if we are

Asked by Lonestar, League City, TX Tue Oct 18, 2011

upside down?

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Answers

7
You could be depending on any updating you have done or additons. a Realtor can help you determine that. The golden rule is 5 years to break even. It does depend on what you pay in the first place. Being that you only bought 2 years ago you may want to figure cost going in and out. Some people who bought 5 or 7 years ago or even upside down.....it s all local though.
0 votes Thank Flag Link Tue Oct 2, 2012
It depends how great of a deal you got when you purchased. I'm sure any realtor would be willing to give you an updated market value of your home.
0 votes Thank Flag Link Wed May 9, 2012
I can refinance homes that are upside down as long as they are Conventional loans done before June 1, 2009 and rates are really low. E-mail me for more info kfest@loansimple.com or call 972-854-3270
0 votes Thank Flag Link Mon Apr 30, 2012
Due to many factors there have been many HUD listings and sales in the neighborhood as well as foreclosures and short sales. There were many people who got loans from loan officers during the first time home buyer credit period and realized that they couldn't afford the home when times got tough. There are still buyers in the area purchasing these homes as they are reasonably priced and most are well maintained. If you need any assistance with comparibles on your home, I will be ready to help.
0 votes Thank Flag Link Wed Oct 19, 2011
Difficult to render an opinion based on many factors. Best to contact an agent direct who might charge for their services to comp the value of your home OR you can pay an appraiser

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes Thank Flag Link Wed Oct 19, 2011
First, you'll need to be more specific -- i.e. an address. Property values can vary greatly by neighborhood, with some appreciating and some depreciating. This would best be addressed to your REALTOR, who is most familiar with your area.

Second...why does it matter? Are you thinking of selling soon? Since you just bought two years ago, I'm thinking you're probably just curious. You need to look at real estate is a long term investment. It's like the stock market. You don't want to be watching it every day, or every month. Over the long run, real estate has been a solid investment.
0 votes Thank Flag Link Wed Oct 19, 2011
It's hard to say if you're upside down without knowing how much you owe. I would be happy to help you figure it out based on your specific situation.

Here are the trends for Countryside. On a price per square foot basis, the neighborhood averages have definitely gone down over the past few years.

Year to Date: 43 closed sales @ $70.61/SF or $68.54/SF after adjustments for repairs and seller contribution. The average size was 1695SF. ($119,683 adjusted to $116,180)
2010: 46 closed sales @ $72.73/SF or $71.18/SF adjusted. Average size was 1687SF ($122,701 adjusted to $120,080)
2009: 51 closed sales @ $78.64/SF or $77.19/SF adjusted. Average size was 1615SF ($127,011 adjusted to $124,658)

If you have more questions, contact me directly.
Thanks,
Ruth Ann
0 votes Thank Flag Link Wed Oct 19, 2011
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