Sinking Like a Stone: Family Home Values


I get emails from at least monthly.  They describe how much my home has increased or decreased in value and compare it to comps on the market or that have recently sold.

Of course, lately the news has been bad.  Last night I got such an email.  It stated that in the LAST 30 DAYS, my home value had dropped $12,000.

After 20 years of living in the same home, countless time and thousands of dollars of repairs, mechanical replacements, maintenance and remodeling, it lost more in one month than it had in the previous 5 years.  We’re not planning to move, so it’s a damn good thing.

A friend of mine passed away last spring. His daughter is the sole surviving family member and she’s had the home on the market since Fall.   One of the nicest in the neighborhood, it once was valued close to $350k.  In central Ohio, you can get a lot of house for that.  His sits on a golf club fairway, has a HUGE indoor Jacuzzi, sunken living room, Gorgeous, vaulted master suite, vaulted entry with  a small loft, over 4,000 square feet, built-ins, etc. It’s a beautiful, large custom home, constructed by a local high-end, builder.  The asking price  is way below market yet it sits, unoccupied.

He was well-off, so his daughter needn’t worry about losing the home to satisfy a lien but the expense of keeping it on the market is absurd.  The utilities, the taxes, the maintenance must continue.  She told me she’s hoping to find renters willing to sign a long-term lease. Anyone who has owned rental property knows that all it takes is one destructive tenant to turn one against renters.

In the meantime, the “bank owned” and “foreclosure” tags flourish atop “For Sale” signs in my suburban neighborhood.  And many more homes are vacant, but not listed.

Yesterday, President Obama announced his plan to help curb the spate of foreclosures across the country. The White House site details it here.

Obama explains that bringing the country back from the edge of the precipice upon which we’re perched will take a multi-faceted approach…akin to legs on a stool. Without all of the legs, the stool won’t stand.

Republicans complain, which is what republicans do. They’re long on rhetoric and woefully short on solutions, another GOP trait. I, for one, am sick of their lame-ass excuses, blame-game accusations and whining.


JB (D-OH) Just can't seem to get the dosage quite right

If I see “the Boner” (R-OH) cry on TV again, I’ll strangle a chicken.

No fowl was injured in this demonstration

If it weren’t for eight years of “trickle down” BS yielding nothing but economic constipation by the GOP, we wouldn’t be forced to chug Castor oil today.

Interesting to see that while they refused to vote for any of the stimulus measures, they’re quick to trumpet their projected effect to constituents.


These disingenuous GOP windbags are nothing but lying obstructionists willing to resort to any means to further their careers–even if it means deceiving the farmers who put them in office–as those same farmers lose their land, their homes, their heritage and their legacies.  Country First!

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2 Responses to Sinking Like a Stone: Family Home Values

  1. Fastidious says:

    Sorry to hear the bad news… You should Barack Obama and see if he can get you the Rezko deal.


  2. Paul Sonderman says:

    Oh, Obama did this? Gimme’ a break.

    Rezko the best you got? Old news, chum. If Rezko had any legs, Obama would never have gotten this far.

    You gotta’ freshen up your drink, my friend. Read something. Even Rush hasn’t beaten this dead horse in MONTHS.

    Thanks for your comments.

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