I was just reading a blog about the high price of cars, which then made me think about the high price of homes, why they are so high. Our realtor told us that alot of people bought them at the time the market was high and that because they have not paid off alot of their mortgage that they now have to sell them at a high price. I do believe that to be true, but now people are losing jobs and have to sell their homes, but there are others losing their jobs as well who can't even afford to get into the housing market because of the high prices. Seems like things are going around in a loop and no one is able to get off the ferris wheel.  I now have another realtor added to the mix who is looking for us, but our budget is so low that we might just have to wait to get a house. I'm willing to take a fixer upper, heck, a new Lowes just opened near us, I like doing home maintenance, when you fix a place up it gives you great satisfaction, a sense of accomplishment and pride. So....fixer uppers, definitely not out of the question.  Just wish the houses weren't all $200,000 and up, geeeez!
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Wing_Zero_75
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Oct 19 @ 9:05AM
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We have that problem up here in northern NH as well. High priced houses and no buyers or jobs. We had a rush of people from MA come up, buy the houses cheap, when the market first crashed about 10 years ago up here. They put about $60,000 in it and try to sell it for around $200,000. The market up here cant even beging to afford that. Not when you and your spouse are making just over minimum wage. Then when the mill shut down, everything started to shut down. This area is a microcosm of the rest of the country. Except its been happening for years now.
Larry
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msjo62064
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Oct 19 @ 9:57AM
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High prices on houses??? im not sure where you guys live but I have my house up for sale and the price is really low and im still having a hard time selling it. I had it for sale once before but took it off the market dumb me cause i would have made alot more money back then. We have alot of foreclosures and empty houses here. Alot of them new ones too.
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bluewind37
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Oct 19 @ 10:23AM
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I got lucky when I found my house. In an area of houses priced $150,000 and higher, I found my cute little bungalow for under $100,000.  Move in condition too...even got a few thousand knocked off the asking price because it needed a new furnace.
I wouldn't be putting it up for sale right now though. There has been a lot of foreclosures all over the place, so houses are going for a steal. I'm just staying put till things get better.
Also, pricing depends on location. The nicer the areas you look in, the higher the price. Sometimes one has to step back and look at alternatives if they can't afford what they are thinking they want.
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ragtopcookie
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Oct 19 @ 10:23AM
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It must be where you live.....because here in indiana...there are so many houses for sale......im betting you could buy them for half their worth......alot are vacant...and have make offer signs on them....no jobs equal great house prices.......i guess.........cookie
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Blaiserboy
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Oct 19 @ 11:50AM
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mehtinks ya gotta get a realtor who is knowledgable re presenting low offers..
In other words... you decide the offer price and you tell the realtor to present it.... and if he refuses.. just tell him that there are other realtors wanting to do business and you will be contacting them
You will have to be assertive or they will feed you to the wolves....
Do your research on a property... and offer what you feel it to be worth to you, not to what the realtor wants.
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cbond35
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Oct 19 @ 1:12PM
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Bought my house in Feb. of this year.......It appraised for $10,000 more than I bought it for..........Location.......Location.
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sweet5red
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Oct 19 @ 2:31PM
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I bought my home in feb 2004. almost 6 years now it appraised for 63000 and i got it for 57,500 at a locked in rate of 5.5% .. now homes on my street are going for over 100 thousand but im not moving or selling... after all i have done and accomplished here.. new furnace etc.. love my house.. 3 bedrooms and 1 and 1/2 baths..
dont give up on having a place of your own.. Sweet N Louisiana
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oct_cat
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Oct 19 @ 2:37PM
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You could seek out a realtor who is licensed to help you find & bid on HUD homes, as long as you carefully get all info on them first & don't mind fixing things up.
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bardnsage
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Oct 19 @ 2:54PM
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Have you thought about building a new one? Contractors are desperate for work, and you can negotiate some sweat equitiy into the home,,, to bring the costs down.
For instance,,, you could do the painting, the roofing, the drywall, the siding, etc. etc. etc. Anything that does not require a liscense,,, you can do yourself. In addition,,, with some clever negotiating,,, you can even do some of the trades if you find the right contractor.
It does not take an electrican to pull wire. Just to hook it up,,, and sign off. You might be able to act as your own "Helper" to the electrican. Same with plumbing.
The other advantage,,, is you can get a house as modest as you need,,, with the features that you want.
Good luck,,,, keep looking,,,,
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uwishtoo
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Oct 19 @ 3:03PM
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I bought my home in Arizona, a total fixer upper, gutted it and put 30 into it - paid 143 and it had been appraised at over 210 just a little over a year ago. I got an offer a month ago on it for a whopping 110 - wow - far less then I paid not to mention the 30 K worth of remodeling and updates I put into it. I lost it all as of last Friday, so oh well. Waiting for them to come kick me out - might take a week, might take a year like some people I know but no matter what I lost 60 K of my hard earned money between the updates on the home and my down payment.
If you want a hell of a deal on housing just move to Arizona, homes that were in the 200 - 300 K are no in the low to mid 100's - I am seeing more and more nice 2 and 3 bedroom condos and townhouses selling for 40 K - unheard of here in the land of high housing.
Sucks totally that I bought when I did, guess my crystal ball was on the fritz back then.
Anyone that has a little money could easily buy more then 1 property right now and sit on them or rent them out and within 3 - 5 years they would make a killing. Sigh, too bad it's gonna be at my expense
Not working for over a year with two college degrees and 30 years experience doesn't make for very high living
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whatagal
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Oct 19 @ 3:04PM
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There is alot to be said about renting. The one thing I do not like about being a homeowner is that I'm responsible to make all repairs and/or improvements. Ok I don't like mowing the lawn either. BUT I can say it is MINE (At least when I finish paying it off)
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Jalon
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Oct 19 @ 4:03PM
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This is all very dependent on where you live. Northeastern Ohio was hit pretty hard in the housing crunch. In the whopping 28 months I've lived in my house, it dropped in value by about 22% in the first 20 months. Luckily, the value is starting to creep back up and I'm only in the hole by about 8.5%.
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1frantastic
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Oct 19 @ 8:57PM
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13 yrs ago I bought my house which I thought was my dream come true....Georgian...built in 1906...1700 sq ft...fireplace...pocket doors between the living room and dining room (both have chandeliers too)
It had been "pretty fixed" up...cosmetically only...but still a good deal...I thought...I only paid...get this...$20 k for it....
now it is worth $17 K...and cost more than I can afford to pay anyone to fix it..if I could find someone.... 
and "friends" do NOT keep promises...so....
oh well...taxes are cheap too...and I just acclimate self to hot (113 to 116 degree)summers by losing the clothes and spraying/misting my body...natural evaporative cooling...lol   
and winter??? well it was 95 today....may have cold front coming soon...
Bust and Boom.....have lived that way all my life...this is oil country and that is how it goes....
someone want to trade houses????
 
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ttomtarr
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Oct 19 @ 9:29PM
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There are plenty of houses 50K to 100K in central Florida.
And plenty of short sales, that is , banks selling houses for less than was owed when they were reposeessed.
Find abandoned looking houses and find owners through tax offices.
Skip realtors. They are into their own gain, not your good deal.
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