How far underwater is YOUR house? - Loan Modification Forum

trappedincali · 02-16-2009, 09:51 AM

Just curious to see the effect of this housing crisis in different areas. If you feel like sharing, please post your current mortgage, current estimated house value (I use zillow.com), and location.

Current Mortgage: $420,000
Current Value: $175,000

Oakley, California

-Lee

cdmosaic · 02-16-2009, 10:27 AM

East Bay Area, Calif

1st - 417k
2nd - 73k

House value $280k (or less)

gravymark · 02-16-2009, 10:27 AM

Current mortgage $230,000
Current estimate $82,000

My house is in Arizona.

ORNV3 · 02-16-2009, 10:59 AM

Current mortgage $308000
Current estimate $200000

IGiveUP · 02-16-2009, 11:00 AM

South Bay, CA

$435k First
$73k 2nd

House currently worth: $199k !

ORNV3 · 02-16-2009, 11:02 AM

That's in Reno, NV

AZChick · 02-16-2009, 11:10 AM

AZ

Owe 259K
Worth 140K maybe

D.Shima · 02-16-2009, 11:38 AM

Owe: 415
Worth: 150-160k

LadyDoveFL · 02-16-2009, 12:01 PM

Tampa Bay (Pinellas County side)

Purchased: Jan 2006 for $191K
(value did go up to about $220K by late 2006)

1st loan bal: $152K
2nd loan bal: $ 37K
------
Total: $189K

Current MV: $144K ??
(similar unit sold for $115K in December; owner died, nieces/nephews sold it)

ultimate4799 · 02-16-2009, 12:42 PM

current mortgage - $760k
current est value - $501k

san jose, CA

trajay · 02-16-2009, 12:46 PM

Arizona

Owe-338K
est value -200K

walkwithme · 02-16-2009, 01:21 PM

Bought 615

Owe 562

worth 377

Ventura, CA

LeavingAZ · 02-16-2009, 01:22 PM

AZ -

Bought for - $199,900
Owe - $188K
Current MV - $80K at best.

Irish Gal · 02-16-2009, 01:25 PM

Southern California; (1/1 condo)

Owe: $226,000 (2 mortgages)

Current value: $80,000 - $105,000

(similar unit next door sold last summer for $105K-foreclosure); comp condos in the area now going for as low as $80K (foreclosures) and continue to drop

County taxes re-assessed within past year (once automatically by County and then again per my request); current County assessor value: $155,000! They remain in denial. County tax assessors are scrambling for lost tax money

Schnelle · 02-16-2009, 01:33 PM

Southern CA

Purchase Price: 275,000

Current Market Value: 150,000

AZ Meltdown · 02-16-2009, 03:00 PM

Phoenix,AZ
Bought 372K
Owed 348K
Current 190K??? it is now Countrywide's so we will soon see.

cactus77727 · 02-16-2009, 03:13 PM

Wow, great thread.

East Valley, Phoenix Metro, Arizona
Purchased April 2006
Paid: $260,000
Loan balances: $259,999.99
Wild guess current value: $150,000 - $180,000*

*If you have something that nobody is willing to buy, then isn't it worth a big fat goose egg $0.00?

Enough Already · 02-16-2009, 05:37 PM

Wow. Very interesting stuff.

Tampa Bay, FL

Purchased 2005 for $363K
Owe $340K
Current value: $280K and falling.

ORNV3 · 02-16-2009, 06:01 PM

Good point Cactus.... my house is valued at $200000 on Zillow but the house next door that is identical has been for sale for $159000 and hasn't even sold!

Olypentax · 02-16-2009, 08:47 PM

Pittsburg, CA
Purchase 6/07 $490k
Mortgage & Heloc $443k
Zillow current value $304k

kymburley · 02-16-2009, 08:54 PM

Paid: 394,500
Currently owe: 1st: $323,000
2nd: $82,000
On mkt for $340,000 with a decrease tomorrow to $330,000

Seattle suburb

markmc2000 · 02-16-2009, 09:16 PM

Paid $150k in 2002 with 20% down, did $30k in upgrades out of pocket. appraised for $330k in 2007. might sell in todays market for $100k.

Hidden valley lake, CA

Aybody want to buy a house?

Ugg

driacovone · 02-16-2009, 09:20 PM

Olathe, Kansas.
Mortgage 154k
Heloc 40k

Back in August 2008 it was appraised/estimated to sell at 220k. That did not work for 5 months.

Been trying to sell for 187k for past 2 months but still could not sell. Was told to bring it even lower.

Still trying for the deed in lieu - should know some time this week at what countrywide has the FMV at and if they will accept the deed.

We did get an offer of attempt to purchase at 30 day cash for 116k, but my realtor thinks it is an investor sending out automated papers to catch any nibbles.

As cactus said, it ain't worth nothing if nobody wants to buy it. So, if all those american cars aren't selling, shouldn't I get one for free? My family needs a new one.

tryingtostay · 02-17-2009, 01:09 AM

Quote:

Originally Posted by driacovone

As cactus said, it ain't worth nothing if nobody wants to buy it. So, if all those american cars aren't selling, shouldn't I get one for free? My family needs a new one.

Exactly my thoughts! Drives me crazy to no end to see commercials from the Big 3 advertising cars for $30K+. Average American salary WAS $45K. So it's probably closer to $38K now... they want people to buy cars that cost one years salary in this economy? They need to drop their prices A LOT...

stats:
Inland Empire, CA
bought 8/06: $420K
owe: $373K
market value: around $170K-180K, although I'm seeing similar homes popping up closer to $155K...

The Professor · 02-17-2009, 12:03 PM

When you got nothing, you got nothing to lose
You're invisible now, you got no secrets to conceal.

How does it feel
How does it feel
To be on your own
With no direction home
....

B. Dillon, "Like a Rolling Stone"
Copyright ©1965

02-16-2009, 09:51 AM	#1 (permalink)
trappedincali Senior Member Join Date: Feb 2008 Posts: 89 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	How far underwater is YOUR house? Just curious to see the effect of this housing crisis in different areas. If you feel like sharing, please post your current mortgage, current estimated house value (I use zillow.com), and location. Current Mortgage: $420,000 Current Value: $175,000 Oakley, California -Lee

02-16-2009, 10:27 AM	#2 (permalink)
cdmosaic Senior Member Join Date: Aug 2008 Location: East Contra Costa County, Ca Posts: 157 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: How far underwater is YOUR house? East Bay Area, Calif 1st - 417k 2nd - 73k House value $280k (or less)

02-16-2009, 10:27 AM	#3 (permalink)
gravymark Senior Member Join Date: Jan 2009 Posts: 37 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: How far underwater is YOUR house? Current mortgage $230,000 Current estimate $82,000 My house is in Arizona.

02-16-2009, 10:59 AM	#4 (permalink)
ORNV3 Senior Member Join Date: Jan 2009 Posts: 168 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: How far underwater is YOUR house? Current mortgage $308000 Current estimate $200000

02-16-2009, 11:00 AM	#5 (permalink)
IGiveUP Senior Member Join Date: Dec 2008 Posts: 41 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: How far underwater is YOUR house? South Bay, CA $435k First $73k 2nd House currently worth: $199k !

02-16-2009, 11:02 AM	#6 (permalink)
ORNV3 Senior Member Join Date: Jan 2009 Posts: 168 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: How far underwater is YOUR house? That's in Reno, NV

02-16-2009, 11:10 AM	#7 (permalink)
AZChick Senior Member Join Date: Dec 2008 Posts: 247 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: How far underwater is YOUR house? AZ Owe 259K Worth 140K maybe

02-16-2009, 11:38 AM	#8 (permalink)
D.Shima Member Join Date: Jan 2009 Posts: 10 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: How far underwater is YOUR house? Owe: 415 Worth: 150-160k

02-16-2009, 12:01 PM	#9 (permalink)
LadyDoveFL Senior Member Join Date: Feb 2009 Location: Clearwater, FL Posts: 45 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: How far underwater is YOUR house? Tampa Bay (Pinellas County side) Purchased: Jan 2006 for $191K (value did go up to about $220K by late 2006) 1st loan bal: $152K 2nd loan bal: $ 37K ------ Total: $189K Current MV: $144K ?? (similar unit sold for $115K in December; owner died, nieces/nephews sold it)

02-16-2009, 12:42 PM	#10 (permalink)
ultimate4799 Senior Member Join Date: Nov 2008 Posts: 233 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: How far underwater is YOUR house? current mortgage - $760k current est value - $501k san jose, CA

02-16-2009, 12:46 PM	#11 (permalink)
trajay Senior Member Join Date: Jul 2008 Posts: 31 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: How far underwater is YOUR house? Arizona Owe-338K est value -200K

02-16-2009, 01:21 PM	#12 (permalink)
walkwithme Member Join Date: Dec 2008 Posts: 9 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: How far underwater is YOUR house? Bought 615 Owe 562 worth 377 Ventura, CA

02-16-2009, 01:22 PM	#13 (permalink)
LeavingAZ Senior Member Join Date: Jan 2009 Posts: 216 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: How far underwater is YOUR house? AZ - Bought for - $199,900 Owe - $188K Current MV - $80K at best.

02-16-2009, 01:25 PM	#14 (permalink)
Irish Gal Senior Member Join Date: Mar 2008 Posts: 642 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: How far underwater is YOUR house? Southern California; (1/1 condo) Owe: $226,000 (2 mortgages) Current value: $80,000 - $105,000 (similar unit next door sold last summer for $105K-foreclosure); comp condos in the area now going for as low as $80K (foreclosures) and continue to drop County taxes re-assessed within past year (once automatically by County and then again per my request); current County assessor value: $155,000! They remain in denial. County tax assessors are scrambling for lost tax money

02-16-2009, 01:33 PM	#15 (permalink)
Schnelle Senior Member Join Date: Dec 2008 Posts: 119 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: How far underwater is YOUR house? Southern CA Purchase Price: 275,000 Current Market Value: 150,000

02-16-2009, 03:00 PM	#16 (permalink)
AZ Meltdown Senior Member Join Date: Apr 2008 Posts: 129 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: How far underwater is YOUR house? Phoenix,AZ Bought 372K Owed 348K Current 190K??? it is now Countrywide's so we will soon see.

02-16-2009, 03:13 PM	#17 (permalink)
cactus77727 Senior Member Join Date: Sep 2008 Location: Arizona Posts: 542 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: How far underwater is YOUR house? Wow, great thread. East Valley, Phoenix Metro, Arizona Purchased April 2006 Paid: $260,000 Loan balances: $259,999.99 Wild guess current value: $150,000 - $180,000* *If you have something that nobody is willing to buy, then isn't it worth a big fat goose egg $0.00?

02-16-2009, 05:37 PM	#18 (permalink)
Enough Already Senior Member Join Date: Jan 2009 Posts: 438 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: How far underwater is YOUR house? Wow. Very interesting stuff. Tampa Bay, FL Purchased 2005 for $363K Owe $340K Current value: $280K and falling.

02-16-2009, 06:01 PM	#19 (permalink)
ORNV3 Senior Member Join Date: Jan 2009 Posts: 168 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: How far underwater is YOUR house? Good point Cactus.... my house is valued at $200000 on Zillow but the house next door that is identical has been for sale for $159000 and hasn't even sold!

02-16-2009, 08:47 PM	#20 (permalink)
Olypentax Senior Member Join Date: Jan 2009 Posts: 55 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: How far underwater is YOUR house? Pittsburg, CA Purchase 6/07 $490k Mortgage & Heloc $443k Zillow current value $304k

02-16-2009, 08:54 PM	#21 (permalink)
kymburley Senior Member Join Date: Feb 2009 Location: Puget Sound Area, WA Posts: 63 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: How far underwater is YOUR house? Paid: 394,500 Currently owe: 1st: $323,000 2nd: $82,000 On mkt for $340,000 with a decrease tomorrow to $330,000 Seattle suburb

02-16-2009, 09:16 PM	#22 (permalink)
markmc2000 Senior Member Join Date: Nov 2008 Posts: 87 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: How far underwater is YOUR house? Paid $150k in 2002 with 20% down, did $30k in upgrades out of pocket. appraised for $330k in 2007. might sell in todays market for $100k. Hidden valley lake, CA Aybody want to buy a house? Ugg

02-16-2009, 09:20 PM	#23 (permalink)
driacovone Member Join Date: Jan 2009 Posts: 28 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: How far underwater is YOUR house? Olathe, Kansas. Mortgage 154k Heloc 40k Back in August 2008 it was appraised/estimated to sell at 220k. That did not work for 5 months. Been trying to sell for 187k for past 2 months but still could not sell. Was told to bring it even lower. Still trying for the deed in lieu - should know some time this week at what countrywide has the FMV at and if they will accept the deed. We did get an offer of attempt to purchase at 30 day cash for 116k, but my realtor thinks it is an investor sending out automated papers to catch any nibbles. As cactus said, it ain't worth nothing if nobody wants to buy it. So, if all those american cars aren't selling, shouldn't I get one for free? My family needs a new one.

02-17-2009, 12:03 PM	#25 (permalink)
The Professor Senior Member Join Date: Jul 2008 Location: 49er Gold Country Posts: 1,543 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: How far underwater is YOUR house? When you got nothing, you got nothing to lose You're invisible now, you got no secrets to conceal. How does it feel How does it feel To be on your own With no direction home .... B. Dillon, "Like a Rolling Stone" Copyright ©1965

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