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October 11, 2009

Selling your home at a loss

If there's one assumption about homeownership that was pretty universal before this decade, it's that you'll at least equal your purchase price when you sell. Now, though, many aren't managing that.

In the Baltimore metro area, more than a third of homes bought this decade and resold in the first half of this year went for less than the sellers originally paid for the property. That's not counting closing costs at either end, mind you.

I crunched data from the state Department of Assessments and Taxation to put together this analysis of resold homes. You can read the full story about selling at a loss here.

Want to see more statistics? Go here and here.

Did you sell a home for less or buy a home in this category? Share your tale.

Here's one couple's story:

 

 

Posted by Jamie Smith Hopkins at 8:40 AM | | Comments (2)
Categories: Housing market experiences, Housing stats
        

Comments

Jamie,
Congrats on this excellent article. I enjoyed it a great deal. I mean, I REALLY enjoyed iT!!

$190,000? really?

not from me; but then I wouldn't have paid $190k for it even at the peak.

Good luck to the sellers.

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About Jamie Smith Hopkins
Jamie Smith Hopkins, a Baltimore Sun reporter since 1999, writes about the regional economy. Her reporting on the housing market has won national and local awards. Hopkins is a Columbia native and has lived in Maryland all her life, save for 10 months spent covering schools in Ames, Iowa.
She trained to become a wonk by spending large chunks of time as a geek and an insufferable know-it-all.
Baltimore Sun articles by Jamie
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