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View Poll Results: Is your home's equity…
Positive? 6 100.00%
Negative? 0 0%
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Old 09-18-2012, 12:32 PM   #1
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Default What is your home's net worth/equity?

I was listening to a radio show and I heard a statement that really hit home.
They said a recent survey showed that most people have negative equity meaning that the worth of the home in the market is less than the mortgage on it. So I want to check this out with my own poll.
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Old 09-18-2012, 12:40 PM   #2
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Default Re: What is your home's net worth/equity?

I have a feeling here that since most of our members are teenagers that they won't know this...
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Old 09-18-2012, 12:58 PM   #3
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Default Re: What is your home's net worth/equity?

thanks for the post. i never really have thought of it that way. Kids these days....
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Old 09-18-2012, 01:56 PM   #4
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Default Re: What is your home's net worth/equity?

Well, I can answer. I haven't been a kid since Wall Street was a prairie.

I have positive equity in my present home, and just purchased a new home, with construction due to begin in about 3 weeks. I will of course sell my present home for far less than it was worth just a few years ago, but I still am in the black on it financially.

I would never put myself in a position of negative equity, never.
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Old 09-18-2012, 02:23 PM   #5
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Default Re: What is your home's net worth/equity?

Quote:
Originally Posted by Hameister View Post
Well, I can answer. I haven't been a kid since Wall Street was a prairie.

I have positive equity in my present home, and just purchased a new home, with construction due to begin in about 3 weeks. I will of course sell my present home for far less than it was worth just a few years ago, but I still am in the black on it financially.

I would never put myself in a position of negative equity, never.
Congratulations on your new home.
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Old 09-18-2012, 03:43 PM   #6
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Default Re: What is your home's net worth/equity?

Quote:
Originally Posted by Tech Explorer View Post
Congratulations on your new home.

Well, thank you!

I have photos if anyone wants to see them. I don't want to highjack this thread, so I'd need permission from the OP.
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Old 09-18-2012, 03:50 PM   #7
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Default Re: What is your home's net worth/equity?

You have my full photo permission on the house.
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Old 09-18-2012, 04:15 PM   #8
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Default Re: What is your home's net worth/equity?

Quote:
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You have my full photo permission on the house.

Thank you.

There is a town in Italy called Castellina di Chianti, in the Tuscany area.

I've attached a few photos.

The community in which I've purchased, will be all new homes, and the architects are trying to capture the Euro-County flavor of this Tuscany area.

You can see the extensive use of stone. When I post some more photos the similarity will become clear.
Attached Images
File Type: jpg Castellina di Chianti3.jpg (68.5 KB, 0 views)
File Type: jpg Castellina di Chianti4.jpg (55.7 KB, 0 views)
File Type: jpg Castellina di Chinati5.jpg (52.9 KB, 0 views)
File Type: jpg Castellina di Chianti6.jpg (55.1 KB, 0 views)
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Old 09-18-2012, 04:22 PM   #9
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Default Re: What is your home's net worth/equity?

This is a photo of the model house, shown with a 3 car garage. Mine will be built with a 2 car garage, but the colors, and stone work etc., will be the same.

The interior photos are also of the same model. Mine will be similar with some personalization, including a few upgrades not shown in the photos, and a few downgrades as well. However, these photos will give you a good idea.
Attached Images
File Type: jpg House Colors Final.jpg (105.4 KB, 1 views)
File Type: jpg Great Room.jpg (78.7 KB, 1 views)
File Type: jpg Kitchen.jpg (61.1 KB, 1 views)
File Type: jpg Bed Room.jpg (62.8 KB, 1 views)
File Type: jpg Bathroom.jpg (52.4 KB, 1 views)
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Old 09-18-2012, 04:26 PM   #10
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Default Re: What is your home's net worth/equity?

This is a photo of the Clubhouse within the community, as well as the pool, and other amenities, like tennis and Bocce courts.
Attached Images
File Type: jpg Clubhouse Front.jpg (45.7 KB, 1 views)
File Type: jpg Clubhouse Rear.jpg (35.4 KB, 1 views)
File Type: jpg Clubhouse.jpg (35.3 KB, 1 views)
File Type: jpg Fitness Center.jpg (40.0 KB, 1 views)
File Type: jpg Bocce Ball Courts.jpg (32.4 KB, 1 views)
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Old 09-18-2012, 04:32 PM   #11
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Default Re: What is your home's net worth/equity?

These 2 snaps show the land I bought upon which the house will be built. It has 80' of lake front just off the rear patio.

The street light you see will be at the end of my driveway.

The other photo will be my view from the rear patio.

The Porta-Potty, is not supplied.
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File Type: jpg Site 113 on 9-2-12.jpg (80.9 KB, 1 views)
File Type: jpg Patio View 9-9-12.jpg (101.2 KB, 1 views)
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Old 09-18-2012, 04:38 PM   #12
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Default Re: What is your home's net worth/equity?

Nice looking light/street lamp. Are you keeping it?
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Old 09-18-2012, 04:41 PM   #13
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Default Re: What is your home's net worth/equity?

Quote:
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Nice looking light/street lamp. Are you keeping it?

Are you serious???
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Old 09-18-2012, 05:02 PM   #14
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Quote:
Originally Posted by Hameister View Post
These 2 snaps show the land I bought upon which the house will be built. It has 80' of lake front just off the rear patio.

The street light you see will be at the end of my driveway.

The other photo will be my view from the rear patio.

The Porta-Potty, is not supplied.
Edit: I should have read your post more carefully. Sorry.
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Old 09-18-2012, 05:05 PM   #15
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Default Re: What is your home's net worth/equity?

Quote:
Originally Posted by Tech Explorer View Post
Edit: I should have read your post more carefully. Sorry.

No problem, I thought it was a joke that I wasn't getting.
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Old 09-18-2012, 07:18 PM   #16
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Default Re: What is your home's net worth/equity?

I haven't had negative equity in any of my homes since I bought my first in 1977. My current home's equity was (at least on paper) very high just a few years ago but it dropped quite a bit in the current economy. Even at it's lowest point in the last few years, I had enough equity in my home to be able to sell it and pay cash for an above average house just about anywhere in the US and probably a mansion in most places.

Of course no one can know the true equity in their home until they actually find a buyer and sell it.

I plan to retire in less than 10 years and when I retire my plan is to sell the house and pay cash for something smaller. It would be nice if there was enough left over to tuck away in the bank to add to my retirement nest egg.

I bought my first house in 1977, sold it 3 years later for 2X what I paid for it. Kept my 2nd house for 10 years then sold it for 2X what I paid for it. Bought our current house 20 years ago and could have sold it about 5 years ago for 4X what I paid for it but it's currently only valued at a little over 2X what I paid for it.

Here's a pic of my current house:
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Old 09-18-2012, 08:42 PM   #17
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Default Re: What is your home's net worth/equity?

Nice country home. What's with all the motor homes? All yours?
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Old 09-18-2012, 08:58 PM   #18
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Default Re: What is your home's net worth/equity?

Only the one in the driveway is mine, the others are just being stored at my property.
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Old 09-18-2012, 09:03 PM   #19
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Default Re: What is your home's net worth/equity?

Ahh, thanks, I thought they might be there for repairs, or storage. Also nice to see another ol' fart like me on these forums.

Retirement is fantastic, I'd recommend it to anyone. I retired very early at age 53, and I've never regretted it for a minute. Good Luck.
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Old 09-19-2012, 01:43 AM   #20
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Default Re: What is your home's net worth/equity?

I own my home......Value roughly at AUD $380,000....
I only paid $38,500 in 1983.....whoops showing my age here... lol
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