NationStates Jolt Archive

About a year and a half ago, I sold my home in Southern California for $309,500 (@3.5 times what I paid for it 7 years before). Out of curiousity, I checked the current values of homes in the area and found that similar houses (same floor plan, general location, condition) are now going for @$159,00 - little more than half what I got. Basically, the people (a young Hispanic family) who bought it from me are saddled with a huge mortgage and no chance of getting out from under it if they were so inclined. Part of me says "God, I got lucky" and does a happy dance. Another part of me feels guilty because my good luck rests on what I perceive as their bad luck.

Only if you sabotaged the housing market.

It is the buyer's job to be informed.

Curiosity not only kills, it can make you guilty too.

as long as you sold that house for fair market value at the time, you have nothing to feel badly about.

as long as you sold that house for fair market value at the time, you have nothing to feel badly about.

Ditto.

It's hardly your fault or your responsibility.

as long as you sold that house for fair market value at the time, you have nothing to feel badly about.

I actually sold it for @$10,000 less than market value for the time.

Like Everywhar said its the buyers job to be informed, I mean it is kind of sad but they did it not you. If they were new to America then that was a pretty shitty welcoming present though, but hey its America it's all up to the buyer.. God I love this nation.

welcome to life. Oh it seems you already got started on shitting on peoples lives so I guess we should put you in management :)

seriously though its not your responsibility in the same sense that its not your responsibility to only buy what you need and give the rest to saving countless lives

About a year and a half ago, I sold my home in Southern California for $309,500 (@3.5 times what I paid for it 7 years before). Out of curiousity, I checked the current values of homes in the area and found that similar houses (same floor plan, general location, condition) are now going for @$159,00 - little more than half what I got. Basically, the people (a young Hispanic family) who bought it from me are saddled with a huge mortgage and no chance of getting out from under it if they were so inclined. Part of me says "God, I got lucky" and does a happy dance. Another part of me feels guilty because my good luck rests on what I perceive as their bad luck.

No, you shouldn't feel guilty.

Hey i agree w/ everyone else it was their own fault
:headbang::sniper:

Hey i agree w/ everyone else it was their own fault
:headbang::sniper:

The gun smile really helped to drive your point home.

That sure is some shit luck on their part, but you didn't do anything worth feeling guilty about, I'd say. I mean, if you want to help them out, yea, that's really kind of you, but I personally would feel no moral obligation to do so short of just helping out another person. *shrug*

About a year and a half ago, I sold my home in Southern California for $309,500 (@3.5 times what I paid for it 7 years before). Out of curiousity, I checked the current values of homes in the area and found that similar houses (same floor plan, general location, condition) are now going for @$159,00 - little more than half what I got. Basically, the people (a young Hispanic family) who bought it from me are saddled with a huge mortgage and no chance of getting out from under it if they were so inclined. Part of me says "God, I got lucky" and does a happy dance. Another part of me feels guilty because my good luck rests on what I perceive as their bad luck.

Just out of curiosity, did you buy a new house? And if so, how much did you lose on yours?

Just out of curiosity, did you buy a new house?

why bother when you have enough homeless hooch money to last a lifetime!

why bother when you have enough homeless hooch money to last a lifetime!

My bad. I just have this thing for beds, so I naturally assumed everybody else has it too :p

My bad. I just have this thing for beds, so I naturally assumed everybody else has it too :p

Ya I got it to, beds are.... amazing

It is the buyer's job to be informed.

Like Everywhar said its the buyers job to be informed, I mean it is kind of sad but they did it not you. If they were new to America then that was a pretty shitty welcoming present though, but hey its America it's all up to the buyer.. God I love this nation.

Hey i agree w/ everyone else it was their own fault
:headbang::sniper:

WTF? It was the buyers' "fault" for not doing their "job to be informed"? Their job consisting of what? Being clairvoyant and knowing that 6 years from when they bought it the housing market would crash overnight and take the global fincancial market with it?

Yeah, they really should have known. :rolleyes:

WTF? It was the buyers' "fault" for not doing their "job to be informed"? Their job consisting of what? Being clairvoyant and knowing that 6 years from when they bought it the housing market would crash overnight and take the global fincancial market with it?

Yeah, they really should have known. :rolleyes:

My thoughts exactly.

Guilty are the fucks selling sub-prime mortgages, certainly not the poor sods that work their buts off to afford them.

My thoughts exactly.

Guilty are the fucks selling sub-prime mortgages, certainly not the poor sods that work their buts off to afford them.

Plus, we don't even know if the buyers in this case are in fact "sub-prime" loan recipients, so everybody can save their "they shouldn't have bought beyond their means" sermon.

Plus, we don't even know if the buyers in this case are in fact "sub-prime" loan recipients, so everybody can save their "they shouldn't have bought beyond their means" sermon.

Of course. In fact odds are that if they bought a house at that price they were most likely not sub-prime. But even if it was a sub-prime mortgage, it's not exactly their fault that other people have defaulted on their mortgages in such amounts that the market crashed now is it?

Of course. In fact odds are that if they bought a house at that price they were most likely not sub-prime. But even if it was a sub-prime mortgage, it's not exactly their fault that other people have defaulted on their mortgages in such amounts that the market crashed now is it?
Indeed.

Part of me says "God, I got lucky" and does a happy dance. Another part of me feels guilty because my good luck rests on what I perceive as their bad luck.

It could have gone the other way and you could have ended up taking a loss. If you feel really, really guilty, you could send a check for 1/2 your profits to the "Celtlund II Retirement Fund." He and his spouse would be very appreciative and even send you a whole bunch of cookies. :p

About a year and a half ago, I sold my home in Southern California for $309,500 (@3.5 times what I paid for it 7 years before). Out of curiousity, I checked the current values of homes in the area and found that similar houses (same floor plan, general location, condition) are now going for @$159,00 - little more than half what I got. Basically, the people (a young Hispanic family) who bought it from me are saddled with a huge mortgage and no chance of getting out from under it if they were so inclined. Part of me says "God, I got lucky" and does a happy dance. Another part of me feels guilty because my good luck rests on what I perceive as their bad luck.There's no reason not to feel bad for the people. It's not your fault though.

Just out of curiosity, did you buy a new house? And if so, how much did you lose on yours?

I actually paid cash ($117,000) for a townhome in Colorado Springs. It's depreciated somewhat, to about $104,000. But, I have no mortgage.

About a year and a half ago, I sold my home in Southern California for $309,500 (@3.5 times what I paid for it 7 years before). Out of curiousity, I checked the current values of homes in the area and found that similar houses (same floor plan, general location, condition) are now going for @$159,00 - little more than half what I got. Basically, the people (a young Hispanic family) who bought it from me are saddled with a huge mortgage and no chance of getting out from under it if they were so inclined. Part of me says "God, I got lucky" and does a happy dance. Another part of me feels guilty because my good luck rests on what I perceive as their bad luck.

Did you also look at school zoning? That can jack up the prise of a house like hell. Don't nobody wanna go to da ghetto school.

It could have gone the other way and you could have ended up taking a loss. If you feel really, really guilty, you could send a check for 1/2 your profits to the "Celtlund II Retirement Fund." He and his spouse would be very appreciative and even send you a whole bunch of cookies. :p

Since I blew the wad on a house and furniture in Colorado, I can't send you half of anything, but you're welcome to visit and use my spare room. Bring cookies. And homemade bread.

Wy would you feel guilty? They made an offer they thought was fair and which they thought they could afford. You accepted an offer you thought was fair. Had the value of the house doubled the next year would you feel cheated? I doubt it.

On second thought... you are a scum for taking the money of those poor hispanics. Had they been jewish it'd be OK, but they were not. You are filfth.... ;)


Meanwhile - did you get hozed on your new property? See how everything evens out in the end?

I actually sold it for @$10,000 less than market value for the time.

You shouldn't feel bad then. But I would if I was you. I think it's human nature to feel that way. They were so unlucky.:(

no reason why you should feel guilty. lucky certainly, but not guilty. Especially if you bought a house straight afterwards which, presumably, would also be worth way less now.
As for that young family with the big mortgage - that's only a problem if they're looking at selling. Presumably they took the mortgage with the ability to cover it and are still doing so. Sure their house is worth eff-all now, but if they stay in it long enough, it's value will rise back up.
All it means for them is bad luck at buying then, because now they'd be able to get a better place for the same dough and they're stuck there for the next 10 years or so.
Only bad thing really is if they got a subprime mortgage which they now can't afford. But that's not your fault they were stupid and greedy.

oh crap :O Houses are really cheap over there... In Aus you'd be hard finding a house anywhere under 300k anymore...

As for your dilemma, it's not your fault, you shouldn't feel guilty. Had you not sold it, you would have been in there position. Besides, if they could afford the 300k mortgage then, they can afford it now. The worst thing for them to do would be to sell the house. eventually, the house is going to be worth that much again.

Why would you feel bad? Its not your fault that housing prices were inflated beyond all get out and they finally bottomed out.

You should only feel bad if this shitty economy is your fault.

You should only feel bad if this shitty economy is your fault.

http://209.85.48.8/2723/19/emo/shiftyeyes.gif

OJ Simpson did it!

*disappears*