What TBN use to be like

[MossRoad]

Either you made a typo or your old neighborhood has really gone downhill.

No, he's probably right.
My wife's grandma's house appraised at 65K, they put it on the market for a couple years and settled for close to 20K!

Our current house appraises at 85K. Two doors down one sold for 15K! Granted, ours is nicer, but its not 70K nicer. The bottom line is the housing market crashed, a lot of people lost their jobs, many homes are for sale, not many can get a loan and those that can are able to wait out people until they drop their price. Its a brutal buyers' market place right now and sellers are taking a beating in all but the most desirable markets.

This is the only thing keeping us from building a new house on our rural property... the one we own in town won't sell for anything near what it is worth to us. So, we get along well with most of the neighbors, its quiet and clean, conveniently located and most of all....

ITS PAID FOR!!!! :laughing: :thumbsup:

 

[jerrybob]

No, he's probably right.
My wife's grandma's house appraised at 65K, they put it on the market for a couple years and settled for close to 20K!

Our current house appraises at 85K. Two doors down one sold for 15K! Granted, ours is nicer, but its not 70K nicer. The bottom line is the housing market crashed, a lot of people lost their jobs, many homes are for sale, not many can get a loan and those that can are able to wait out people until they drop their price. Its a brutal buyers' market place right now and sellers are taking a beating in all but the most desirable markets.

This is the only thing keeping us from building a new house on our rural property... the one we own in town won't sell for anything near what it is worth to us. So, we get along well with most of the neighbors, its quiet and clean, conveniently located and most of all....

ITS PAID FOR!!!! :laughing: :thumbsup:

Wow.....that market where you live is really terrible....sorry to hear that. Are your house and possessions insured?? Years ago I knew a guy whose house burned to the ground.......after negotiating his final settlement......he used his funds to build a mountain cabin?? Not suggesting anything....just sayin!:2cents:

 

[cockeyedMFer]

I try to be an optimist, but one of the things that upsets me most is the housing market. A big part of the american dream used to be buying a home and watching its value grow. That was the path to security and upward mobility for a lot of people. You'd get a starter house, sell it and roll the profit into a family home, retire there and pass it onto your kids to sell as part of the inheritance. Now, a home is a liability and an anchor around your neck without much upside. That's tough to swallow.

Wow.....that market where you live is really terrible....sorry to hear that. Are your house and possessions insured?? Years ago I knew a guy whose house burned to the ground.......after negotiating his final settlement......he used his funds to build a mountain cabin?? Not suggesting anything....just sayin!:2cents:

Its insured, but the one thing the tenants haven't managed to do is set fire to the place

 

[mikehaugen]

tell me about it, I bought my first house 4 years ago with that intent- the market was low and I thought it was a great time to buy. Well, the market has only gotten worse. This was supposed to be a starter home and sell in 5-10 years and move on, well I am nearing 5 years and am upside down... 10 years doesn't look a lot better. I just may die in this house!

 

[daugen]

I try to be an optimist, but one of the things that upsets me most is the housing market. A big part of the american dream used to be buying a home and watching its value grow. That was the path to security and upward mobility for a lot of people. You'd get a starter house, sell it and roll the profit into a family home, retire there and pass it onto your kids to sell as part of the inheritance. Now, a home is a liability and an anchor around your neck without much upside. That's tough to swallow.

From what I've read the slide is over, but the inventory has to be reduced. In some areas that is happening.

Btw, if you rent out a home, and have typical landlord style fire insurance coverage, you may not have replacement cost coverage, but only ACV Actual Cash Value
equates to market value, so if your market value has sunk, I'd sure try to get replacement cost coverage on the building until you sold it. You have to spend the claims money on rebuilding the house,
no using it for vacations or whatever, but if you do, the policy will pay its limit if need be. But if you have ACV based property coverage, and many older buildings do,
if the tenant does burn it down, you will be more upset than you think.

 

[JDgreen227]

I related my story elsewhere is a thread I started about needing an appraisal to refinance...had one done back in 2002 to get enable me to get a loan to build on and renovate the older part of the house. Sank close to $125 grand into materials for the project as 95% of it was sweat equity. Original appraisal figure in early 2002 was $140,000, and after putting the $125,000 for materials into the place plus at least $50,000 in sweat equity, the same appraiser from 2002 recently gave me an updated figure of $190,000 for the property. OUCH !!!!

Oh, and feel free to call me a (censored) if you want, but I have a hard time with sympathizing with homeowners who got foreclosed on when they borrowed $100,000 when refinancing a $50,000 house, and even less sympathy for the lenders who approved such a loan knowing full well it wasn't secured. I went to look at a $24,000 property recently in a so-so neighborhood that was a foreclosed house. The owners skipped out owning $78,000 on a refinance loan. At the very most, in the boom of the housing market, that property MIGHT have been worth $45 grand.

 

[MossRoad]

Wow.....that market where you live is really terrible....sorry to hear that. Are your house and possessions insured?? Years ago I knew a guy whose house burned to the ground.......after negotiating his final settlement......he used his funds to build a mountain cabin?? Not suggesting anything....just sayin!:2cents:

The problem with insurance fraud would be that most of the stuff in the house is sentimental and not of great monetary value. Of course, I doubt anyone commiting insurance fraud would probably have any sentiment at all, so it probably doesn't matter to them. Anyhow, most insurance companies can tell when all the sentimental stuff has been removed from a house before it is torched and will deny/prosecute to keep from paying fraudulent claims...

Enough of this talk! Let's go back to the original topic and speak of TBN before it was O.K. to discuss insurance fraud! :laughing:

 

[MasseyWV]

Enough of this talk! Let's go back to the original topic and speak of TBN before it was O.K. to discuss insurance fraud! :laughing:

After giving this some thought, I think it all boils down to the scope of the problem.

I was thinking that while those who have been members of forums the longest might be more apt to notice a change, newer members probably wouldn't. Then I began to think about the internet in general, and about how it has changed since the early to mid 1990's. Everywhere you go, you'll find people complaining about one thing or another and becoming divided or polarized over seemingly trivial issues, while seemingly becoming more and more isolated. It doesn't matter what the subject matter happens to be, people are just plain unhappy, or so it seems. And the worse part is that this "unhappiness" seems to be contagious.

While I can't speak for anyone else, I can say this... If I spend more time on the internet (forums or otherwise), I feel worse. If I spend less time on the internet, I feel better. Now I can't cay for certain exactly what that means, but to me it seems to suggest that the problem is much more widespread than any of us might imagine. Don't get me wrong, I love the internet and think it's one of the greatest inventions ever conceived, but I also believe that it has the power to affect our minds and our moods greatly. As a result, I've begun to try to find a good balance, where I'll sometimes go "unplugged" for a period of time as I focus on real-life things, just for the sake of change. This may not work for everyone, but it works for me.

 

[madmax12]

After giving this some thought, I think it all boils down to the scope of the problem.

I was thinking that while those who have been members of forums the longest might be more apt to notice a change, newer members probably wouldn't. Then I began to think about the internet in general, and about how it has changed since the early to mid 1990's. Everywhere you go, you'll find people complaining about one thing or another and becoming divided or polarized over seemingly trivial issues, while seemingly becoming more and more isolated. It doesn't matter what the subject matter happens to be, people are just plain unhappy, or so it seems. And the worse part is that this "unhappiness" seems to be contagious.

While I can't speak for anyone else, I can say this... If I spend more time on the internet (forums or otherwise), I feel worse. If I spend less time on the internet, I feel better. Now I can't cay for certain exactly what that means, but to me it seems to suggest that the problem is much more widespread than any of us might imagine. Don't get me wrong, I love the internet and think it's one of the greatest inventions ever conceived, but I also believe that it has the power to affect our minds and our moods greatly. As a result, I've begun to try to find a good balance, where I'll sometimes go "unplugged" for a period of time as I focus on real-life things, just for the sake of change. This may not work for everyone, but it works for me.

Wisdom. Well put.

 

[dmccarty]

.... Everywhere you go, you'll find people complaining about one thing or another and becoming divided or polarized over seemingly trivial issues, while seemingly becoming more and more isolated. It doesn't matter what the subject matter happens to be, people are just plain unhappy, or so it seems. And the worse part is that this "unhappiness" seems to be contagious.

While I can't speak for anyone else, I can say this... If I spend more time on the internet (forums or otherwise), I feel worse. If I spend less time on the internet, I feel better. Now I can't cay for certain exactly what that means, but to me it seems to suggest that the problem is much more widespread than any of us might imagine....

The Internet allows us to communicate with FAR more people than we would normally in our lives. Because of TBN, I "know" dozens, if not hundreds, of people that I would NEVER have met without the Internet. This communication is also in a form that allows, maybe even encourages, people to be more emotional and up front in telling other people what they think. People will certainly says things on the Internet that the would not do to your face. Some of the people on my local county website are pathetic human beings, but I would bet if you met them in public, you would not know this about them. The Internet just allows us to see what is often hidden in people. I first saw this sort of behavior back in the late 80s on Prodigy.

To put a different view/spin on what you said, we can feel worse when we interact more with other people or feel better with less people interaction. :shocked: I think there is a great deal of truth to this in the Internet Age since the Internet allows us to interact with so many more people than we would have in the past. Now that I think about it for a bit, I think I "know" more people on the Internet than I do face to face. Discount people I know at work, and I know FAR more people on the Internet than I do in our local community.

On the other hand, we are a divisive time in our country and that simply bleeds over into the Internet.

Later,
Dan