I don't know how much you paid for you're home, but I do know it is you're biggest, and probably most important investment. The small amount of money a home inspection and home warranty cost as compared to the replacement costs of major systems and the stress associated with it is priceless. Now that you know that for the future, as a former builder I advise researching and interviewing you're HVAC repair person. A well known, well qualified pro will welcome you're questions.... more
Homes in the Huntington West Virginia area have depreciated, but not at the alarming rate of other areas. Generally they are flat, to -5% to 10%. That being said, the real issue in this market and many others is finding qualified borrowers to purchase your house. lending has so many obstacles, that it's become very difficult to sell your house. This seems will remain the trend for a while. lenders have become very very tight with regard to underwriting guidelines, not that i blame them. This is coming from a branch manager of 14 years in the industry. House prices decline, because no one can get a loan for them, Debt to Income guidelines have also become more stringent, which means people can not buy as much of a home as they could have years back, not to mention the down payment requirements.
I digress, the point is, home prices fall, when the pool of qualified borrowers shrinks.... more
The average list/sale ratio in the 25704 area is 92% from June 2008-April 2010. This is a pretty consistent percentage for the entire Huntington area. The typical home in the Huntington area usually sells for between 93%-95% of list price if priced correctly.
Rob Burdette, Realtor
Old Colony Realtors