Sep 17 2008
Some homeowners seem in denial on home values- Milan Properties says de-nile ain’t just a river in Egypt
Are homeowners in denial?
I guess that depends on who’s asking the question.
Zillow.com is in the "They’re in denial" camp: It recently surveyed homeowners about how much their properties are worth. The home-valuation website said that nearly two-thirds believe that their homes’ value has increased or at least stayed the same over the last year.
Then, along comes another survey, this one by Reuters and the University of Michigan, which seemed to find a more sober mind-set.
Among homeowners the university surveyed in August, just less than half said their homes had declined in value during the last year — twice the level recorded in August of last year and more than the previous record of 41% in July, Reuters reported.
The pollsters found that the negative outlook was much more pronounced in Western states, where prices have been swirling downward with particular drama.
Some dry land for Phelps
One of the first things swimmer Michael Phelps did after making his little splash at the Olympics was to buy a condo. It’s a rather nice pad for a 23-year-old — the lanky young man will have more than 4,000 square feet in which to spread out in his new loft in his hometown of Baltimore.
Price tag: $1.69 million, according to the New York Daily News. The unit, in a building on the city’s waterfront, comes with a rooftop terrace, a screening room, a whirlpool tub and a gym. And, of course, there’s a swimming pool.
But it won’t be the only place he’ll be able to do laps — Phelps also has bought a swimming club and ice rink in Baltimore that he hopes to turn into an Olympic training facility.
We hope that the lender is asking for more then 0% down on that condo. It doesn’t surprise us if he pulls a Britney and burns threw his cash. Hey Micheal! If you find yourself forclosed we can get you a good deal on an apartment in south bay!
