My house is finally worth what I paid for it

[corn18]

Bought my house in 2008. It tanked in the real estate bust. Zillow says it is now worth what I paid for it. I can't get that much for it, but at least it's going in the right direction.

Here's what happened:

2008 - $513k
2010 - $340k
2016 - $513k

I'm in OH where we got smashed in the bust, but it has taken forever to recover.

Tom

[Singuy]

Good news!

You know I am surprised at how much you spent on your house considering your income and how spendy you were back in the days. I would imagine you broke at least 750k on a house purchase. Good thing you didn't

[corn18]

Good news!

You know I am surprised at how much you spent on your house considering your income and how spendy you were back in the days. I would imagine you broke at least 750k on a house purchase. Good thing you didn't

I think you are underestimating my stupidity back then. Houses are cheap here in OH so I paid $513k for a huge house I didn't need. I could not afford the house and found a way to buy it with 0% down. And my debt to income ratio at the time was over 40% and rose to 50% before I found you guys. If I was making then what I make now, I guarantee I would have been even dumber and bought a million dollar house. Lord I was an idiot.

Had I followed the SA rule of 20% down and no more than 25% debt to income, I would not have been able to buy a house. And that would have been a good thing.

Tom

[greenskeeper]

all on paper until you sell, I'd ask a realtor for comps to get a true value of your property since zillow is a crapshoot.

[LivingAlmostLarge]

Congratulations!

[Randomsaver]

I think you are underestimating my stupidity back then. Houses are cheap here in OH so I paid $513k for a huge house I didn't need. I could not afford the house and found a way to buy it with 0% down. And my debt to income ratio at the time was over 40% and rose to 50% before I found you guys. If I was making then what I make now, I guarantee I would have been even dumber and bought a million dollar house. Lord I was an idiot.

Had I followed the SA rule of 20% down and no more than 25% debt to income, I would not have been able to buy a house. And that would have been a good thing.

Tom

Congrats on house value!

Btw, I'm not a fan of the 25% DI ratio but instead, I would target finishing the mortgage ASAP.

[Magnificence]

Bought my house in 2008. It tanked in the real estate bust. Zillow says it is now worth what I paid for it. I can't get that much for it, but at least it's going in the right direction.

Here's what happened:

2008 - $513k
2010 - $340k
2016 - $513k

I'm in OH where we got smashed in the bust, but it has taken forever to recover.

Tom

Sad to hear that 2008 has hit you so hard.
Have only followed it through the media how bad the year was for many Americans. 8 years are a very long time to recover for a market.
You need a lot of patience.

[Petunia 100]

Bought my house in 2008. It tanked in the real estate bust. Zillow says it is now worth what I paid for it. I can't get that much for it, but at least it's going in the right direction.

Here's what happened:

2008 - $513k
2010 - $340k
2016 - $513k

I'm in OH where we got smashed in the bust, but it has taken forever to recover.

Tom

Me too, about what I paid for it, 9 years later (I bought in November 2007). So glad too, because I would like to sell soon.

[Weird Tolkienish Figure]

Bought my house in 2008. It tanked in the real estate bust. Zillow says it is now worth what I paid for it. I can't get that much for it, but at least it's going in the right direction.

Here's what happened:

2008 - $513k
2010 - $340k
2016 - $513k

I'm in OH where we got smashed in the bust, but it has taken forever to recover.

Tom

That is a nice asset to have, congradulations.

People are such sheep:

1) Housing boom, "renting is throwing your money away"
2) Housing Crash, "you bought property, what are you crazy"

They're simply too dumb to understand the concept of a sine-wave market like housing. Buying during a crash is the best of both worlds.

I made out very good by buying right after the housing crash in 2011.

[97guns]

The 0% and very low down payment coupled with laxed credit issuing sucked in a lot of people before the bubble popped. Buying in 2008 you probably missed the popped bubble by months or at most a year. I was buying at deep discounts already in February of 2009

[Petunia 100]

That is a nice asset to have, congradulations.

People are such sheep:

1) Housing boom, "renting is throwing your money away"
2) Housing Crash, "you bought property, what are you crazy"

They're simply too dumb to understand the concept of a sine-wave market like housing. Buying during a crash is the best of both worlds.

I made out very good by buying right after the housing crash in 2011.

That's a bit harsh. People who are unemployed can't buy houses unless they have cash, no matter how low the price is.

[DaveInPgh]

That is a nice asset to have, congradulations.

People are such sheep:

1) Housing boom, "renting is throwing your money away"
2) Housing Crash, "you bought property, what are you crazy"

They're simply too dumb to understand the concept of a sine-wave market like housing. Buying during a crash is the best of both worlds.

I made out very good by buying right after the housing crash in 2011.

[james.hendrickson]

I guess my question for the OP is - would you buy more real estate?

People who have higher net worths tend to own more real estate than people with lower net worths.

[corn18]

I guess my question for the OP is - would you buy more real estate?

People who have higher net worths tend to own more real estate than people with lower net worths.

Maybe. Been looking at it, but don't have the time to do the research right now.

[FLA]

congrats on resuming its previous value, you got hit hard

I'm afraid to look on zillow, I know we overpaid for this house