We have all talked about, argued to, debated each other on the cause of it. One thing for SURE we are paying for it in many ways. Im trying to understand the depth and how deep it goes. Lets just talk from the begining of 2001 to the end of 2003. In your area how much did homes go up in value in that time. Florida had alot of areas triple, some areas even more than that. The market exploded during that rise. Im just curious what happened in your neighborhood and how deep it went!

The rise of home prices in Arizona didn't start taking off until mid- 2003.

Then from mid 2003 - 2005 things went nuts!

Most home values doubled or nearly doubled.

Not being in a huge housing area we didn't have the HUGE home price gains like other areas. I sold my house September last year and in the 8 years I had it it went up only $30000 in value including all the imporvements to it.

Whew! At least in upstate NY prices have always been very stable. Slight appreciation each year.
The only foreclosures (for the most part) are with the people who took sub prime mortgages. Those people were not credit worthy and some low life salesperson took advantage of the situation just to make their commission and run.

Was the valued doubled between 2003 and 2005? Just certain areas and prices? Thx

Can you give a perspective of your state as awhole from 2001?

So the market didnt see a big spike locally. What do you think of your state over all. Most markets the same? My house tripled in value on paper between 2001 and 2004. Three years.

I live in the Phoenix metro area....
This increase seemed to happen all over the entire state!
Some zip codes in Phoenix area jumped more than others but it was huge!

Most of NYS is pretty stable. NYC is a state of it's own. Upstate has an average price right around $100,000; subyrbs. $50,000 Cities.
I am a Realtor for 30 years. I was selling houses in March of 1980 when it was illegal to get a mortgage in NYS

Forclosed homes, are you see ing alot of them? 6 just on my street. The house next to me sold for $200,000 and foreclosed on. Now on the market for $49,000 and cant sell it. Our market is flooded with them. I dont see a change in the market here for many years!

Wow! That's cheap!

Last time I looked the average home price in Phoenix was $250k.

But that is cheap compared to California.

Over the last several years, we have 10,000 people a month moving from California to Arizona.

There are some developers here that need locked up. Manipulating the numbers, apprasiers need to be held accoutable.

Wow! $49k and can't sell it? What a time to buy!

There is a house in my neighborhood that was built in 2005 for $550k....on the market now, sign says "Short Sale" and the posted price is $350.

In just one house, looks like the bank is eating $200k. Very similar to what you are seeing.

And Arizona/Phoenix area has the highest foreclosure rate in the USA right now.

Lee Countys Fl med home value was around $250,000. But this is florida has many Wealth comunities.

The market here is flood with then. If your fisrt we are diffently not far behind.

By the way, banks don't take the hit...we do in the form of FANNIEMA and FREDDIEMAC. They are insurance companies who bail out the banks and now "WE the People" are bailing out Fannie and Freddie. And yes, there are dirty developers and appraisors out there. They need to be brought up on charges.
Most of my housing helps low to modern income people. While the foreclosure rates traditionally been around 4% of all people who buy houses, my people are less than one tenth of 1%. They are required to come to my classes for up to a year before they purchase and for a year and a half after.

I beleive there are many criminals involved in the whole mess. We must not shove this aside.

I bought my house before the prices went up - about 9 yrs. ago.

I had it appraised a few years ago. They valued it $70,000 over what I had paid. But...I did a lot of work on it. I've probably lost at least $40,000 in value this year.

The for sale signs around me have been on the same houses since summer, btw.

I know a few people that had to move due to relocation and couldn't sell so they are renting their homes. They plan on selling when they can get the money back on what they paid for the houses.

About 8 yrs. ago, the market here was crazy. My parents even bid on a house that they didn't go into because people were overbidding.


This is St. Louis City, btw.