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Old 10-27-2007, 07:22 PM
 
2,313 posts, read 2,403,079 times
Reputation: 471

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You can't wait forever.

http://www.sun-sentinel.com/business...a_tab01_layout
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Old 10-27-2007, 07:24 PM
 
8,376 posts, read 27,779,765 times
Reputation: 2366
ity: Plantation

Property:

Three-bedroom home

Purchased: October

Original list price in

February: $329,000

Price paid: $235,000

This is good news indeed. Shame on the mediocore Plantation schools though...I bet the areas that maintain decent school districts won't decline significantly for a LONG time. I have noticed that prices in Weston, Davie, Cooper City, etc seem to still be stagnant, which is unfortunate news for middle class families. To my amazement, the homes in my neighborhood seem to be increasing and selling quickly. Still, any drop in any city is good for the overall economic health of this region.
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Old 10-27-2007, 07:30 PM
 
199 posts, read 168,429 times
Reputation: 64
This is only the beginning. A year from now those $200,000 homes will be even less.
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Old 10-27-2007, 07:33 PM
 
8,376 posts, read 27,779,765 times
Reputation: 2366
Quote:
Originally Posted by Sunandsand View Post
This is only the beginning. A year from now those $200,000 homes will be even less.
Good, maybe I won't have to leave after all! .The economy seems to be diversifying so maybe we will have something to base ourself off of other than real estate. I don't see a good future though...this Miami invasion thing looks more and more real every day.
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Old 10-27-2007, 08:10 PM
 
Location: Foothills of the Appalachians
440 posts, read 2,241,389 times
Reputation: 185
Thanks for sharing !
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Old 10-27-2007, 08:10 PM
 
Location: Lake Worth, Fl
364 posts, read 986,586 times
Reputation: 79
Quote:
Originally Posted by Sunandsand View Post
This is only the beginning. A year from now those $200,000 homes will be even less.

While not the end this is definitely not the begining. If its not the bottom yet its getting close.

I am seeing more sold and sales pending signs both of which I did not see at all even a month ago. I currently have a house under contract that had 4 offers. It was priced in the mid 200s. A nice home fairly priced in the mid to low 200s will sell. Maybe what most people want to hear and will not help anyone who purchased thier home in the last couple of years but at least it is something positive.
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Old 10-27-2007, 09:31 PM
 
2,313 posts, read 2,403,079 times
Reputation: 471
Quote:
Originally Posted by WOWAddict View Post
While not the end this is definitely not the begining. If its not the bottom yet its getting close.

I am seeing more sold and sales pending signs both of which I did not see at all even a month ago. I currently have a house under contract that had 4 offers. It was priced in the mid 200s. A nice home fairly priced in the mid to low 200s will sell. Maybe what most people want to hear and will not help anyone who purchased thier home in the last couple of years but at least it is something positive.
At some point there has to be a meeting of the minds. The sellers see they have to drop the prices to sell, as well as the buyer realizing at some point they need to make a decision. They can't just keep waiting to see to see how low it may go. If they are looking at a house they like, they want, they can afford, and are happy with the price, buy it. Forget possible remorse, if you think that way you will never buy. We can't judge things by people who are upside down in their houses, their situation just is what it is. As for the rest, they have been in houses long enough where they, no matter how you look at it, will walk with plenty of profit. Maybe not the pie-in-the-sky numbers of a few years ago but that is over with, time to get back to reality.
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Old 10-27-2007, 10:21 PM
 
Location: Heartland Florida
9,324 posts, read 23,796,698 times
Reputation: 4901
200,000.00 is going to seem like a lot with that 12% mortgage rate. Alternatively the 15% inflation will reduce the value of that down payment significantly. This fiasco is far from over.
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Old 10-27-2007, 10:32 PM
 
1,134 posts, read 3,627,575 times
Reputation: 652
Pending election year with sure Dem wins in almost everything
is going to rock the market too.
We are counting on it .......keep 'em dropping !
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Old 10-27-2007, 10:48 PM
 
Location: Living in Paradise
5,702 posts, read 22,257,338 times
Reputation: 2987
Question Question

Will the prices go down to the 2002 range?
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