Relisting the house. Price down. California

**mikandmari** · 01-16-2009, 03:42 PM

Well, the rates have dropped.... right now a 30 year fixed-rate mortgage is about 4.875%, which is historically low. Here's hoping that motivates some buyers, and they choose your house!

**MommyBliss** · 01-16-2009, 04:05 PM

Good luck!

**jamie79** · 01-17-2009, 01:05 PM

good luck to you

**knitnmom** · 01-19-2009, 04:53 PM

CA is crazy right now. You're housing is still cheaper than ours is in our area, but it's super low for us too. A small 3/2 1700sqft house is going for 275k. That's is insanely low. Apparently, people are out there stealing and stripping down these vacant houses and so that drops the price as well, but then you have to replace appliances, etc as well.

Craziness I tell you!

**Teresa T** · 01-19-2009, 06:14 PM

Thank you so much again everyone!

Rowdy35 and Frugalbabe. I certainly wish you both luck on your sales. Lets hope we all get the sale we want and can move on. That really is too bad about the smaller houses for sale. Maybe someone will look at your extra square footage as a big plus. Which it is.

Wow. interest rates are really down and that really lowers the monthly payments. I hope they stay low to give people who really can afford their loans to get into the housing market.

**scottp999** · 01-19-2009, 09:20 PM

It's an interesting time for so many people. Even with low rates, most people do not have the required 20% down. Most of the activity has been refinancing and not purchases. 4 out of every 5 mortgage applicants are being denied right now where I work.

My girlfriend has a house she bought near the top of the market, it is already $55,000 upside down and loses money every month with no sign of stopping. We want to get engaged and have her move into my house which is still at a 50% ltv, and a smaller mortgage payment. Seems that our only hope is a short sale.

You are not alone. These are historical times.

**BlessedMomof2** · 01-19-2009, 09:33 PM

Best of luck to you on selling the house!

**Teresa T** · 01-20-2009, 03:22 PM

scott. Yes, what a mess. I figure I'll be OK if I just get my deposit back, which was 20% down.

I do feel sorry for those who bought at the top of the market. But I'll never get over how they gave these loans to people for houses who were making ten bucks an hour.

I didn't know what was happening to the market really until a nursing assistant at work who has a husband with a low and spotty work record got a loan for a very crappy 180,000 house. Of coarse they since lost the place. That is when I realized they were giving loans to ANYONE!