Go Back   CruiseMates Cruise Community and Forums > People > Chit - Chat for Cruisers
Register Forgot Password?

Chit - Chat for Cruisers Open Forum for non-cruise posts. Please refrain from inflammatory rhetoric that could be considered offensive. We reserve the right to edit or delete for any reason.

Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old September 7th, 2006, 08:25 AM
Trip's Avatar
Moderator
Admiral
 
Join Date: Aug 2000
Location: Boston
Posts: 19,813
Send a message via ICQ to Trip
Default The Bubble Has Burst!

Would you buy one home over another if they threw in a free 2006 car?

The real estate market bubble in Massachusetts has burst.....This couple who has had their home on the market for 3 months, in Plymouth, is trying this, after a price reduction brought no offers.


It's amazing how things can turn on a dime. Here, it's a buyer's market, with many 1000's of homes for sale, and no rush to make any offers.

How are things in your area?
__________________


Trip, with her book & tea!
Chat Hostess & Board Moderator


Reply With Quote
Sponsored Links
  #2 (permalink)  
Old September 7th, 2006, 08:33 AM
dina's Avatar
Senior Member
Admiral
 
Join Date: Jan 2006
Location: Metro Detroit, Michigan
Posts: 7,431
Default

The real estate market in Michigan is probably the worst in the country. Our high unemployment and constant layoffs don't help the situation. The houses on sale in my neighborhood have been on the market anywhere from 6 months to 2 years even with reductions. People are taking major hits even when they do manage to sell.
__________________
Carolin


Life is too short to let the ship of your dreams sail without you.


Carnival Destiny Feb. 2006
Carnival Fascination Feb. 2007
Royal Caribbean Grandeur of the Seas Feb. 2008 The DTW & MsBJ tour
Carnival Valor MsBJ and Dina Feb. 2009
Carnival Glory MsBJ and Dina Feb. 2010
Carnival Dream MsBJ and Dina Feb. 2011
Reply With Quote
  #3 (permalink)  
Old September 7th, 2006, 09:11 AM
Russell in MD's Avatar
Senior Member
First Mate
 
Join Date: Aug 2005
Posts: 330
Default

Here around DC prices have slowed some but this just means the house will be on the market a month or two instead of a week. The folks who were stupid enough to get adjustable rate mortgages to get a super low payment on a gaint house are taking it on the chin big time and there will be some desperate acts from them but other than that its the same old stuff.

Ours has doubled in value in 3-4 years.

With Fed Gods heavy presence here I dont see stuff going down, maybe just slowing or leveling off.

One things for sure, God didnt make any more.

R
__________________


CCL Inspiration 09
RCCL Explorer of the Seas Eastern 09
CCL Miracle Southern '08
RCCL Enchantment of the Seas Western '07
PCL Caribbean Princess Eastern '05
RCCL Explorer of the Seas Western '05
RCCL Explorer of the Seas Eastern '04
CCL Destiny Southern '01
CCL Sensation Eastern '94
CCL Ecstacy Western '92
CCL Jubilee Eastern '90
Reply With Quote
  #4 (permalink)  
Old September 7th, 2006, 10:52 AM
sue's Avatar
sue sue is offline
Senior Member
Admiral
 
Join Date: Sep 2000
Location: Rhode Island
Posts: 5,111
Default

Here in SWFL things have slowed down also. Our house had doubled in value in such a short time it was crazy. Prices are still high but have been lowered. I feel bad for young couples who are starting out. With high prices it's almost not poss to buy a house anymore.

I agree with the statement below when it comes to the adjustable mortgage rates. These people will bite the bulle soon. However I also had read somewhere they just refinance again and again.

We had luck on our side when we bought our house 4 years ago.It was at the right time and price. 4 years ago our lot was $3000 and now the lots in our street went above $100,000. Isn't that crazy?
__________________
June 1st 2015--- Denali Explorer Cruise on Star Princess!
Reply With Quote
  #5 (permalink)  
Old September 7th, 2006, 11:44 AM
Senior Member
Captain
 
Join Date: Mar 2005
Location: Central Louisiana
Posts: 965
Default

In Louisiana the housing market has been pretty crazy post-Katrina and Rita (you know, the forgotten hurricane). Prices in the southern part of the state, particularly Baton Rouge and Lafayette are through the roof and things have been selling almost immediately. Even in the central part where I live, property sales have been pretty brisk. I look for that to settle down as folks make real decisions about staying.
__________________
Reply With Quote
  #6 (permalink)  
Old September 7th, 2006, 01:45 PM
Cruise Cynic's Avatar
Senior Member
Admiral
 
Join Date: Feb 2001
Location: ...Location... Location
Posts: 2,025
Default

They're still building like busy little beavers in my 'hood.....

(A big however, however): Just had my home appraised, and things are still about 40 percent undervalued here, in my opinion. Even with our dollar approaching the mighty Greenback in value.
__________________


Just 1 month to go until the "Cruise Cynic Mystery Cruise" ... January 2008
Reply With Quote
  #7 (permalink)  
Old September 7th, 2006, 03:00 PM
Mean Dean's Avatar
Senior Member
Admiral
 
Join Date: Aug 2006
Location: Portland, Oregon
Posts: 2,280
Default

Dina,

Just saw on the news last night that the city of Kalamazoo (sp?) is offering every high school graduate a free college education at any state school in Michigan.

Because of this Kalamazoo is growing like crazy, and there is now a huge house building boom.

Dean
Reply With Quote
  #8 (permalink)  
Old September 7th, 2006, 03:06 PM
dina's Avatar
Senior Member
Admiral
 
Join Date: Jan 2006
Location: Metro Detroit, Michigan
Posts: 7,431
Default

Isn't that a great story? It's called the Kalamazoo Promise. A group of anonymous donors is underwriting the program.

http://www.realestatejournal.com/buy...-boudette.html

I hope when these kids finally graduate that they choose and are able to find employment in the state.
__________________
Carolin


Life is too short to let the ship of your dreams sail without you.


Carnival Destiny Feb. 2006
Carnival Fascination Feb. 2007
Royal Caribbean Grandeur of the Seas Feb. 2008 The DTW & MsBJ tour
Carnival Valor MsBJ and Dina Feb. 2009
Carnival Glory MsBJ and Dina Feb. 2010
Carnival Dream MsBJ and Dina Feb. 2011
Reply With Quote
  #9 (permalink)  
Old September 7th, 2006, 03:27 PM
REDZONE's Avatar
Senior Member
Yeoman
 
Join Date: Jun 2006
Location: Next Door
Posts: 512
Default

our house has tripled in value the last few years.
__________________
Tim
http://mrtimbrown.com

Victory 12/2004
Triumph 10/2005
Victory 06/2006
CELEBRATION 12/2006
SENSATION 01/2007
Liberty 05/2007
Victory 10/ 2007
Spirit 12/2007
Imagination 5/2008

Miracle 12/2008 PLATINUM (Aft Suite)
Back 2 Back
Imagination 12/2008
Reply With Quote
  #10 (permalink)  
Old September 7th, 2006, 04:15 PM
rescuedad's Avatar
Senior Member
Admiral
 
Join Date: Mar 2006
Location: Wellington, Florida
Posts: 2,308
Default

Quote:
Originally Posted by REDZONE
our house has tripled in value the last few years.
In Virginia? whats it up to about 40 bucks now? Or would you trade for a few pigs, a healthy pregnant cow and 3sacks of cotton seed!
__________________
RCI Majesty of the Seas Aug 2007
Breckenridge ski trip Apr 2007
Carnival Fascination july 2006
Reply With Quote
  #11 (permalink)  
Old September 7th, 2006, 09:48 PM
Floridanamaw's Avatar
Senior Member
Admiral
 
Join Date: Aug 2006
Location: Florida panhandle
Posts: 1,731
Default

The real estate market in my area (panhandle of Florida) has slowed down a lot. We have 10 listing to 1 sale. Everyone want to sell and nobody want to buy. There is a major difference between last year at this time and this year. I've been with our office (not an agent) for 17 years now and have seen it change so much. Houses are so over priced. I don't see how the ordinary person can buy one. It will change next year, it always does.
__________________
Carnival legend November 2009
Carnival Glory October 2007
Carnival Elation November 2006


Need some cruise help?
Reply With Quote
  #12 (permalink)  
Old September 7th, 2006, 11:05 PM
Member
Passenger
 
Join Date: Apr 2006
Location: Chesaning, Michigan
Posts: 34
Default

Another Michigander here. In the middle of Automotive country things are ugly... A client who is an agent said houses under $100,000 are moving okay, but those over that price are slow to move. Then there's my boss' old house (he built a new $750,000 monstrosity) which is listed for $300,000 and can't even get someone to look at it!
Now have you heard Home Depot and Lowes and laying off people because no one is doing much home improvement, either?

Kris
__________________
We have not inherited the earth from our ancestors. We have only borrowed it from our children.

Carnival Triumph- 1st Cruise!!
Reply With Quote
  #13 (permalink)  
Old September 7th, 2006, 11:35 PM
Senior Member
Yeoman
 
Join Date: Sep 2005
Location: Haverhill, Ma.
Posts: 779
Default The bubble has burst

We have been in our house for 20 years, but our ds is looking now. Here in Ma. a fixer upper runs $250,000 to $350,000. These kids just keep looking...it's ridiculous. If they cross the border into N.H. pricing is somewhat more reasonable, but property taxes are $5,000 or over. Guess there is no winning in the real estate game: 2006.

Betty
__________________
cruise #19 booked: Crown Princess, 9/30/06

cruise #20 booked: Carnival Liberty, 1/14/07
Reply With Quote
  #14 (permalink)  
Old September 9th, 2006, 09:54 PM
Senior Member
Cruise Maniac
 
Join Date: Feb 2005
Posts: 128
Default

As Scotty would say to Captain Kirk: Cap'n, I canna 'old 'er, she's about to blow!!! There is a multitude of ARMs ready to expire in the next 24 months. The savings rate has been negative for a year and a half. Consumer debt is at an all-time high.. at heights unseen before. The jobs being created are lower paying with less or no benefits as compared to those in the 90s'. Folks, we are on the threshold of one of the biggest financial "bangs" ever contemplated. Hang onto your hats, this ride is going to be a doozy....
Reply With Quote
  #15 (permalink)  
Old September 9th, 2006, 10:33 PM
Floridanamaw's Avatar
Senior Member
Admiral
 
Join Date: Aug 2006
Location: Florida panhandle
Posts: 1,731
Default

In my town with population of about 20,000 we have one subdivision with over twenty brand new houses that are for sell by the builder and another subdivision with over 30 brand new houses for sell. I know of these two and I'm sure there are many more. The builders just keep building and nobody is buying. It's so stupid
__________________
Carnival legend November 2009
Carnival Glory October 2007
Carnival Elation November 2006


Need some cruise help?
Reply With Quote
  #16 (permalink)  
Old September 9th, 2006, 10:43 PM
Member
Passenger
 
Join Date: Aug 2006
Posts: 36
Send a message via Yahoo to alviriv
Default

Prices are going down in Tucker and Stone Mountain which are suburbs of Atlanta. I also see a lot more foreclosures. I buy and rehab properties, and I have seen a lot of nice houses coming up in the market in upper middle class neighborhoods where people are loosing them because of bad loan decisions (no interest loans). The market has definitly slowed down.
__________________
04/29/2002 RCI Monarch of the Seas
03/08/2003 RCI Navigator of the Seas
02/18/2005 NCL Dream
07/01/2006 Carnival Triumph
10/08/2006 RCI Freedom of the Seas

Reply With Quote
  #17 (permalink)  
Old September 12th, 2006, 04:53 PM
Senior Member
Admiral
 
Join Date: Mar 2001
Posts: 2,904
Send a message via AIM to Darcy
Default

I live in southern NH, about 45 min north of Boston and while things have slowed down in our area and prices have come down a little, houses are still selling pretty well if they are under $400,000.00. You can't really buy a house in our city under $250,000.00 (for a small house or a real fixer upper). Most houses go for $250,000.00 - $350,000.00. Condos are at $175,000.00 and up for anything decent. If its priced right houses are on the market for 30-90 days.
__________________
Celebrity Century 1/09
Carnival Destiny 10/07
Carnival Destiny 9/06
Monarch of the Seas 3/06
Carnival Inspiration 8/05
Carnival Miracle 4/05
Carnival Inspiration 4/04
Sovereign of the Seas 4/03
Reply With Quote
  #18 (permalink)  
Old September 13th, 2006, 08:12 AM
Junior Member
Passenger
 
Join Date: Sep 2006
Location: Key West
Posts: 17
Default Burst bubble

This is also the case in Key West. Many, many homes for sale. No doubt last year's hurricanes have made an impact here. Despite that, you will be hard pressed to find even a cottage in Key West for under $500,000. A large part of Key West's problems are associated with having no affordable housing for those of us who work here. A studio apartment goes for $700 plus per month. Elaine
Reply With Quote
Reply

Bookmarks

Similar Threads
Thread Thread Starter Forum Replies Last Post
Have you ever had your drinks burst in your bag/ luggage? puppydogeyessc Carnival Cruise Lines 4 May 15th, 2009 01:00 PM
Bubble Wrap Dress msblackjack Chit - Chat for Cruisers 11 June 21st, 2007 12:00 PM
2 man bubble sub carlandjo Royal Caribbean International 3 January 8th, 2006 11:15 PM
underwater bubble? Lowrider Caribbean & Panama Canal 4 February 29th, 2004 01:53 PM
bubble nightlights Chuck Palm Chit - Chat for Cruisers 6 December 8th, 2002 01:15 PM


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


 

All times are GMT -4. The time now is 10:27 AM.
design by: Themes by Design

Powered by vBulletin® Version 3.8.7 Beta 1
Copyright ©2000 - 2014, vBulletin Solutions, Inc.
Search Engine Friendly URLs by vBSEO 3.6.1