U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Florida
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 11-26-2007, 07:29 AM
 
2,141 posts, read 6,350,161 times
Reputation: 588

Advertisements

I was just reading this and can't get over the dumb ass people that said they had no clue. Californians thinking the Florida market was the same as were they came from. If you buy at artificially high prices don't cry when you lose. "Realtors and mortgage brokers were thinking about commissions. Appraisers, title agents and lawyers were thinking about fees," That may be true but what about the easy money that went wrong. People who went into this market thinking it was sure thing had to learn. If you can't afford to lose it, don't do it. Easy come easy go I guess.


http://www.heraldtribune.com/article...TATE/711250436

Last edited by firemed; 11-26-2007 at 07:39 AM..
Reply With Quote Quick reply to this message

 
Old 11-26-2007, 07:59 AM
 
2,313 posts, read 2,408,082 times
Reputation: 471
Quote:
Originally Posted by firemed View Post
I was just reading this and can't get over the dumb ass people that said they had no clue. Californians thinking the Florida market was the same as were they came from. If you buy at artificially high prices don't cry when you lose. "Realtors and mortgage brokers were thinking about commissions. Appraisers, title agents and lawyers were thinking about fees," That may be true but what about the easy money that went wrong. People who went into this market thinking it was sure thing had to learn. If you can't afford to lose it, don't do it. Easy come easy go I guess.


http://www.heraldtribune.com/article...TATE/711250436
The mentality people have to get over is that, sometimes you do lose. You hear them say, "I can't sell my house I have to wait for the market to come back or I will lose money". They don't get it, it's not coming back, at least any time in the foreseeable future. Cutting loses is what it is about and if that means selling for less then you paid you have to do it. I think a lot of it is people not wanting to admit they made a mistake. Until they actually sell the mistake has not happened and they can just linger in wishful thinking.

Martha Stewart knew that when she didn't do any appeals and went to jail. If she had used here resources to stall things and drag out what looked like the inevitable, it would still be going on. She would have no TV show now, her stock would still be in the toilet and she would have to wake up everyday with that the first awful thought in her head. Sometimes you have to do what you have to do and move on.
Reply With Quote Quick reply to this message
 
Old 11-26-2007, 08:33 AM
 
2,141 posts, read 6,350,161 times
Reputation: 588
Quote:
Originally Posted by macguy View Post
The mentality people have to get over is that, sometimes you do lose. You hear them say, "I can't sell my house I have to wait for the market to come back or I will lose money". They don't get it, it's not coming back, at least any time in the foreseeable future. Cutting loses is what it is about and if that means selling for less then you paid you have to do it. I think a lot of it is people not wanting to admit they made a mistake. Until they actually sell the mistake has not happened and they can just linger in wishful thinking.

Martha Stewart knew that when she didn't do any appeals and went to jail. If she had used here resources to stall things and drag out what looked like the inevitable, it would still be going on. She would have no TV show now, her stock would still be in the toilet and she would have to wake up everyday with that the first awful thought in her head. Sometimes you have to do what you have to do and move on.
Easy come, Easy go!
Reply With Quote Quick reply to this message
 
Old 11-26-2007, 08:38 AM
 
Location: Heartland Florida
9,324 posts, read 23,816,954 times
Reputation: 4901
My head is spinning just reading that story of Californicators in action. I guess fraud is seen as OK in a country with a fraudulent money system. When I look at property listings in California cities I think "these people are on some good weed" or "put down the crack pipe before pricing your property". The real estate craziness is just a symptom of a failed monetary system, and I hope the crash hurries up and hits so those of us who want to contribute to the future can finally get the opportunity. All I can say is "what are they thinking"!
Reply With Quote Quick reply to this message
 
Old 11-26-2007, 08:39 AM
 
2,313 posts, read 2,408,082 times
Reputation: 471
Quote:
Originally Posted by firemed View Post
Easy come, Easy go!
Not really, "Easy come easy go" would refer to someone just losing some of the gained winnings and maybe at worst back to even. In this case a lot of it is "Hard come easy go" and the loss may hurt for a while. Those are the tough decisions people have to make.
Reply With Quote Quick reply to this message
 
Old 11-26-2007, 08:47 AM
 
Location: East Tennessee
3,926 posts, read 10,319,610 times
Reputation: 5217
Reminds me of Black Monday...greed followed by panic.
Reply With Quote Quick reply to this message
 
Old 11-26-2007, 09:44 AM
 
164 posts, read 591,631 times
Reputation: 78
IMHO This market will have to come to a point where people can afford a 30 yr fixed rate again. I myself would not buy in a area where there our empty homes I'm buying a community not just a house and I like to live with people that live and take care of there homes not high grass and empty homes.
Reply With Quote Quick reply to this message
 
Old 11-26-2007, 10:13 AM
 
548 posts, read 392,469 times
Reputation: 126
Quote:
Originally Posted by macguy View Post
The mentality people have to get over is that, sometimes you do lose. You hear them say, "I can't sell my house I have to wait for the market to come back or I will lose money". They don't get it, it's not coming back, at least any time in the foreseeable future. Cutting loses is what it is about and if that means selling for less then you paid you have to do it. I think a lot of it is people not wanting to admit they made a mistake. Until they actually sell the mistake has not happened and they can just linger in wishful thinking.

Martha Stewart knew that when she didn't do any appeals and went to jail. If she had used here resources to stall things and drag out what looked like the inevitable, it would still be going on. She would have no TV show now, her stock would still be in the toilet and she would have to wake up everyday with that the first awful thought in her head. Sometimes you have to do what you have to do and move on.
That is the most amazing thing, you hear over and over again, "I can't sell at the reduced price and take a loss". That is what is causing prices to trickle down month after month instead of adjusting to where they need to be. But we all now how this will end, lower prices, sooner or later.

Many people are going to burn through their savings and 401ks, on top of what they will lose anyway when they do sell, all while waiting for the recovery some experts keep saying is next month, next month, next month.

One poster 3 months ago started a thread saying November was the big recovery, another says 2008 will be a "seller's market". Denial is a sad thing.
Reply With Quote Quick reply to this message
 
Old 11-26-2007, 10:18 AM
 
2,313 posts, read 2,408,082 times
Reputation: 471
Quote:
Originally Posted by MINNIEMEME View Post
IMHO This market will have to come to a point where people can afford a 30 yr fixed rate again. I myself would not buy in a area where there our empty homes I'm buying a community not just a house and I like to live with people that live and take care of there homes not high grass and empty homes.
The high grass and empty houses is where the deals will be. So by the very nature of things it will be self correcting. Those houses will not stay empty forever and your purchase will appreciate possibily. No one wants to be the first anything. I made a small fortune buying building lots in high end gated communities.

I would be one of the first in, buying the best lots at the best price. The builders want their maps to show sales, that is what will kick-start the project, plus they get some money flowing. It is of course over, but It was like I had a printing press to make money. Like I said, everyone is afraid to be the first, but that is where the deals will be, or they won't, life has no guarantees.
Reply With Quote Quick reply to this message
 
Old 11-26-2007, 10:43 AM
 
164 posts, read 591,631 times
Reputation: 78
Prices will have to drop to where people can afford a 30 yrs fixed loan. You can not really think prices will go up again now.YES THEY WILL GO UP AGAIN .But only when there is less inventory. And to get there prices have to come down imho Prices just rose to high to fast now it 's all gotta catch up
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Options
X
Data:
Loading data...
Based on 2000-2016 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Florida
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top