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Plunging Values!

 

SOME SHOCKING STATS!

     distraughtYou’d cry too if this were your neighborhood!

Florida vs KB (CL) stats

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Summer 2013

Florida – Vero housing Zillow                          Carriage Lake stats

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WHAT DID THE NEIGHBORHOOD LOOK LIKE AS IT HIT ALL TIME LOWS?

A Mad Max Movie?

plastic5   AT LEAST MY TAXES GO DOWN EVERY YEAR.

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THIS LARGE POOL HOME SOLD FOR $90,000 (2013)

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A $238,000 LOSS! adpool2

  

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National Default Rate 2.8%! (NOT 69%!)

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KB Home’s pat answer to homeowners is “it’s the economy.”  

It’s far more than that.   

Other indicators – What should my house be worth? 

The Federal Housing Finance Agency provides this HPI (home price index) calculator to determine what your house should be worth- based on the year you purchased – and quarterly depreciation/appreciation statistics

CALCULATE APPRECIATION/DEPRECIATION OVER TIME_FHFA

Original sales price $316,000

This is the calculation I get – $219,000  –  tax  assessment is $118,000 .  It appears there is a $100,000 loss for the economy – and another $100,000 loss for the neighborhood.

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This is my assessed value – it should go down!  Recent sales have been $90,000.  This is at least $100,000 loss of value from stigma – not the economy!  

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BELOW IS THE SALES PRICE THAT THE HOUSE SHOULD SELL FOR ACCORDING TO SIMILAR SALES

Still looking like $100,000 for stigma

Based on closed sales in the past four months within the area, houses of similar size, similar age, and location, on a lake.  $199,000 – $312,000!  Not $90,000 – $118,000. The difference is leaking stigmatized houses in this KB Home neighborhood!  So this shows again, a $100,000 loss for the neighborhood or stigma.

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Boring – but KB Home’s standard answer is – It’s the economy.  It never has been just the economy in this neighborhood.

10 Year trend – still shows a $100,000 loss – not a $200,000 loss!

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WAS IT THE SPECULATORS?

WAS IT THE LEAKS?

WAS IT THE STIGMA?

THE LACK OF LANDSCAPING?

THE MAD MAX LOOK?

THE POT-HOLED ROADS?

lawsuitOh, yeah, and you have to disclose everything you know about your house if you could ever sell it, even as a short sale – or you could be sued.  So this house could curse you the rest of your life!

 

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 Posted by at 7:14 pm