Probabily not a question you should ask after you close, you should have asked before you closed. One really needs to assess what the house is worth in todays market and base their offer on that. Values have fallen anyweher from 12 to 20% in this area from the high value of 2007. If you got a mortgage then obviously your house appraised at least your purchase price, if you are happy then that is all that counts... more
Hi Fanyan- The last 2 years is important, but not as important as the next 2 years...
Here's some generic info on what might happen in the next year around Portsmouth:
In general, the condo market "in town" here I think is pretty strong, compared to many other areas. 2 Brs always a little better than 1 BRs.
FHA and Fannie Mae have gotten a lot harder on condos- so make sure the place is already on the approved condo list OR that it will qualify. It needs to be in good shape with low delinquencies, and not a huge investor/tenant concentration.
If you need any further help, please let me know. Thanks, and good luck,