Posted: 2/23/2010 1:57:19 PM EDT
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The realtor came by last week to give the homestead a once over & crunch some numbers.
Needless to say New Jersey is not very friendly to those trying to exit the state or relocate to a different part of the Peoples Republic. a $255,000 home is now worth $195,000 After all the closing cost & NJ cut of the pie it totaled $13,000 The bank still needs $90k for the mortgage. Another $5000 for mover NJ->OR The best I could find in Southern Oregon was a 1 acre early 1900s rancher for $147,000 . Needless to say New Jersey is not an exit friendly state. 
I'm up for ideas, anyone? |
Now see that was a good idea until you posted it, now your an accomplice
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The market is the market... So true. Don't know whatcha had into the place, but sounds like you have some equity and will walk away with some cash. That's a great thing as there are few people that can even do that these days. 
On the moving ...a household ...cross country $5000 seems very reasonable. Don't know that moving to Oregon at this point in time is the wisest of decisions, but I've really got nothing to compare it to, just that Oregon is going through some rough times and the legislature continues to make it harder than it needs to be. 
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Quoted:
Don't move on the promise of a job. Make sure you have one (and make SURE it is lay-off proof). Good ole' boy network is alive and well down here. If they don't know you, they WILL screw you. Oregon is still one of the top states for unemployment. I believe it came in #6 for January 2010. I was going to buy a house back home until I got the crazy idea to move to Oregon, and spent my down payment to move, get settled in, and live off of for two months before I landed a job. Take a guess at what state I came from where $3200 is a 30% down payment on a house.... If you feel too burned on the property value thing, picture this. My mother's house that she has lived in for 23 years now was valued at near $350,000 about 6 years ago. Today it's worth less than $100,000. The house is completely, 100% paid off, so if she really wanted to move, she would walk away with whatever the selling price is, minus realtor rape, but it's not worth it for her to pack up and leave, just to have a mortgage again. I would just ride it out, and move when the economy can support you doing so. Housing prices in Oregon didn't drop like they should have, being that we were #2 for unemployment for a while. I live in a run down area that is flooded with illegals, and I still can't see houses with a listing price very far under $200,000. |
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New Jersey is 2nd to California on gun rights, Maybe Oregon has poor legislature but it's still not like New Jersey.
Quoted:
The market is the market... So true. Don't know whatcha had into the place, but sounds like you have some equity and will walk away with some cash. That's a great thing as there are few people that can even do that these days.
On the moving ...a household ...cross country $5000 seems very reasonable. Don't know that moving to Oregon at this point in time is the wisest of decisions, but I've really got nothing to compare it to, just that Oregon is going through some rough times and the legislature continues to make it harder than it needs to be.
Then again there is always Florida or South Carolina, both very gun friendly. |
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Quoted:
Don't move on the promise of a job. Make sure you have one (and make SURE it is lay-off proof). Good ole' boy network is alive and well down here. If they don't know you, they WILL screw you. Wouldn't matter any way as I'm currently waiting for a Kidney transplant, so a job is the least of my worries. Mostly the move is to be close to relatives & Family, & oh yah, to tell NJ to go Fuck itself with Taxes & libtard gun laws. |
| Have you tried shopping realtors? With the level of competition in a lot of markets it's not unheard of for them to compete with one another based on how big a piece of the pie they take. I'm not familiar with NJ, but here in OR there is quite a range of cuts that range from flat fees to limited representation for around 3% to all the way up to 7%. It never hurts to ask. The worst they can say is "no." |
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Quoted:
Quoted:
Don't move on the promise of a job. Make sure you have one (and make SURE it is lay-off proof). Good ole' boy network is alive and well down here. If they don't know you, they WILL screw you. Oregon is still one of the top states for unemployment. I believe it came in #6 for January 2010. I was going to buy a house back home until I got the crazy idea to move to Oregon, and spent my down payment to move, get settled in, and live off of for two months before I landed a job. Take a guess at what state I came from where $3200 is a 30% down payment on a house.... If you feel too burned on the property value thing, picture this. My mother's house that she has lived in for 23 years now was valued at near $350,000 about 6 years ago. Today it's worth less than $100,000. The house is completely, 100% paid off, so if she really wanted to move, she would walk away with whatever the selling price is, minus realtor rape, but it's not worth it for her to pack up and leave, just to have a mortgage again. I would just ride it out, and move when the economy can support you doing so. Housing prices in Oregon didn't drop like they should have, being that we were #2 for unemployment for a while. I live in a run down area that is flooded with illegals, and I still can't see houses with a listing price very far under $200,000. How far outside Detroit were you? We have had my Grandmother's house on the market for 4 years, we dropped the price $40,000. Still no bites. It's a shame, nice house. I would love it to be out here in Oregon. |