Posted By musicaddict on 03/01/2008 7:29 AM Posted By Red95King on 02/24/2008 1:37 PM
Same here. I live in Maricopa. Where prices have dropped more like 25%.
Yes, exactly Red. I am so upside down in equity,,, it is my first house and honestly i regret moving here and should have continued to rent in chander and wait for the market to come back up... i am hearing from RE agenets that it can take up to 10 years to even break even herein maricopa specifically.. that scares the heck out of me.. i pray that prediction is wrong.
These are the same Real Estate agents who said not so long ago that "you never lose money on a home investment" and "this place is a gold mine!" And you want to believe them?! Come now, don't be so easily disheartened. This is no fun, but it isn't forever. There is historical precedent for this slowdown just as there was precedent for all slowdowns before it...those who knew the history were able to prepare themselves for this event. Now you know this history, and you'll remember this before the next downturn comes. It is just a big lesson that we've all had to learn...and that's just it. We're all in the same boat.  Wishing you'd rented longer is fine and dandy, but there's no use worrying about it now. You're here, we're glad you're here, and you're going to get through this. Things in Maricopa will improve with some new blood and new ideas, and the market will turn itself around in time the way it always does. Even in the worst case scenario, you've got a roof over your head and a place to keep warm in the winter and shaded in the summer. That is worth far more than any piece of paper with a pricetag on it will ever convey. Let not your heart be troubled. |