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Feb 11, 2014 11:06AM


Dude! In the wake of the housing crisis, and big time agencies screwing everyone over, it’s about time that people educate themselves on buying and selling a home. There’s no way we should expect these “big wig agencies” and lobbyist groups to do the right thing. I’m all for books like Simple and Sold and sites like Zillow and Trulia. Not only could you probably prevent getting screwed, but you’ll pocket tons more money.


Here’s something I learned: Let’s say your house is worth $400,000 and your equity is $60,000. Let’s say you hire a real estate agent who charges the customary 6 percent commission. Even if your home sells for its full value, you’ll end up paying the agent $24,000. There goes 40 percent of your equity. There goes a significant chunk of real, hard cash that cannot be recouped.


$400,000 house

     60,000 equity

   - 24,000 real estate commission at 6 percent

= 40 percent of your equity gone!

Your home equity is like your 401(k): these things are financial Holy Grails. Unless it’s a matter of life or death or putting food on the table, don’t touch either.

Feb 8, 2014 8:17AM
Such vitriol over real estate.  A poof article but it does show that home ownership is still possible if you can accept the downside of the deal.  The SF/SJ metro area has strong demand, if your household income hits 6 figures, you can own.  OakTown is sketch, but it also has cool stuff.  Gotta be street smart to survive.
Feb 8, 2014 7:59AM
Except for the one in San Jose that is an awful lot of money for such tacky little houses.
Feb 8, 2014 7:57AM
I worked nationwide as an installer. On the ground driving these neighborhoods some listed we had to go armed (Detroit, Oakland). Stockton declared bankruptcy last year. This article is like they asked the head salesman to show us some of his best used cars! Incredibly bad.
Feb 8, 2014 7:54AM
Nonsense,don't care where it's at, only a fool would give $489,500 for an 1100 square ft house.
The fact that it's in Oakland don't seem impressive either.

Feb 8, 2014 7:13AM
A note for all who never learned to read a map or use Google: Novi isn't Detroit - it's a well-to-do suburb some ways northwest of the city.
Feb 8, 2014 6:53AM
Does the House in Detroit include Moat and Guard Towers or is that extra??
Feb 8, 2014 6:20AM
This has to top the list of the most ridiculous articles I have read.  First of all, Detroit is practically giving homes away, who in their right mind would pay for one.  Many of the other places that are listed are so crime ridden, again a person would have to be wearing blinders to purchase anything in those areas...Stockton, CA...right!!! :(
Feb 8, 2014 6:06AM

Detroit in demand???


This article just lost any and all credibility with that laughable statement.

Feb 8, 2014 5:47AM
North Houston, TX not listed.  Average days on market...less than 10.  Inventory...0.   Realtors are going around knocking on doors asking homeowners if they would list their properties. 
Feb 8, 2014 5:36AM
So hideous hovels and McMansions are all we have to chose among?  
No wonder everyone is sick of what America has become.
Feb 8, 2014 5:17AM
And...All the other markets are still stuck which is 95% of America. Ha, dumb article to "justify" increased housing demand. Very high priced markets or giveaway markets represented in this article. DO YOU THINK WE ARE THIS STUPID TO BELIEVE THIS IS A REPRESENTATION THAT ALL US WORKING FOLK CAN BUILD ON? NNNNOOOOTTTTT!
Feb 8, 2014 4:48AM
These examples might not be very representative of their respective markets.  This article is just another page-filler,  written by kids searching for some internet stats to drum up into a paycheck.
LOL, if you weren't already freaked out over how screwy California is before, maybe the crazy prices for tear down houses will finish you up.
Feb 8, 2014 2:01AM
Feb 5, 2014 10:28AM
So, of the 10  MSD markets showing existing homes "most in demand", FIVE are Californian, then Florida, Arizona, Colorado, Hawaii, and ... um, ... Detroit?!?!  The creator of this slide show didn't think this might indicate some other market complexities besides just raw DEMAND?!?!?

Gawd -- I hate slide shows more every day. Listicle indeed. I gotta remember that and quit taking click-bait.
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