[lostbuyer]

exactly CJ why do people speak such lies as truth??I see it everyday in the ads "500k list price,350K sale price,150k instant equity for you!" WHAT!!! If thats true why dont they just put that instant equity in my account when I buy??I guess desperate times,call for desperate false propaganda.Now is NOT a good time to buy ,these foreclosure sales have 80-90pct reserve in a 30-60pct overvalued market,what deal?? sounds like a knife catchers special to me.monday will be the first absolute auction (no reserve) I have seen,now at that auction I see real deals happening,but overall for people that are not investors time is on your side,prices have a long way to go,dont fall for the "dont try to time the botton,you might end up paying more"I call BS on that line ,once we reach the bottom you will now were there,because were gonna stay there for a couple of years.

[CJFlorida]

Originally Posted by lostbuyer

exactly CJ why do people speak such lies as truth??I see it everyday in the ads "500k list price,350K sale price,150k instant equity for you!" WHAT!!! If thats true why dont they just put that instant equity in my account when I buy??I guess desperate times,call for desperate false propaganda.Now is NOT a good time to buy ,these foreclosure sales have 80-90pct reserve in a 30-60pct overvalued market,what deal?? sounds like a knife catchers special to me.monday will be the first absolute auction (no reserve) I have seen,now at that auction I see real deals happening,but overall for people that are not investors time is on your side,prices have a long way to go,dont fall for the "dont try to time the botton,you might end up paying more"I call BS on that line ,once we reach the bottom you will now were there,because were gonna stay there for a couple of years.

Exactly, like MacGuy asked, why didn't he buy those properties himself?

Seems like we have more posters lately telling us now is the time to buy. Smells like desperate sellers and agents to me.

[Wendyb0077]

Yes CJ a homes value is what a buyer agrees to pay and a seller agrees to sell it for. "Sale Price" But there are times when the appraised value comes in different from the sales price. Higher or lower. Even though this is an "opinion of value" and each appraisal can come in at a different price (based on the comps and time period used) When the buyer sees that they are getting a property below the appraised value. Oh happy day! But as we all know the housing market is like the stock market. It has It's up and downs. Now there is the assessed value, the one given by the taxing authority. So back off the agent CJ. and give her a brake...

Originally Posted by CJFlorida

A home is worth what someone pays for it. It is impossible for houses to sell for less than what they are worth. The market is what a house sells for.

Those two homes you gave as examples were worth $1.5 M and $135,000.

But if you are a real estate agent, you already knew that.

[firemed]

Originally Posted by CJFlorida

Exactly, like MacGuy asked, why didn't he buy those properties himself?

Seems like we have more posters lately telling us now is the time to buy. Smells like desperate sellers and agents to me.

I don't need to post anything you said it all !

[CJFlorida]

Originally Posted by Wendyb0077

Yes CJ a homes value is what a buyer agrees to pay and a seller agrees to sell it for. "Sale Price" But there are times when the appraised value comes in different from the sales price. Higher or lower. Even though this is an "opinion of value" and each appraisal can come in at a different price (based on the comps and time period used) When the buyer sees that they are getting a property below the appraised value. Oh happy day! But as we all know the housing market is like the stock market. It has It's up and downs. Now there is the assessed value, the one given by the taxing authority. So back off the agent CJ. and give her a brake...

Total hogwash. There is no such thing as a difference in opinion of value. Any house that was truly valued in any way, shape or form for double what it sold for would have been snatched up in seconds. That scenario is total nonsense.

The price a buyer will pay is all that determines the value.

Any appraiser that appraised a house at $250,000 that sold soon after for $135,000 would never work again. Such a house would never, ever, ever even get listed. The agent or broker or an associate would grab it instantly. Such a scenario would be a way to print money.

I will not give any agent a 'break' that comes on here and tries to mislead people. There are no houses selling for $135,000 that are "worth" $250,000....you know it, and everyone on this board knows it. That agent should be ashamed of themselves.

[lostbuyer]

why should CJ back off?? for pointing out the false and misleading argument from the agent??someones wishing price isnt what a house is worth.reminds me of hulk hogan trying to sell his miami house ,I dont remember the exact numbers but it was something like bought for 10million trying to sell for 21,with no upgrades,but hogan lived in it so its got to be worth double right.

[CJFlorida]

Originally Posted by lostbuyer

why should CJ back off?? for pointing out the false and misleading argument from the agent??someones wishing price isnt what a house is worth.reminds me of hulk hogan trying to sell his miami house ,I dont remember the exact numbers but it was something like bought for 10million trying to sell for 21,with no upgrades,but hogan lived in it so its got to be worth double right.

Check the join date and number of posts. We are having an invasion of agents and sellers trying to juice things up. But the down cycle will run its course and the denial will start fading by the end of 2008.

I love Florida, love it, love it, love it....but housing is completely out of touch with reality and the next few years will get things back down where they should be.

[FSU_Alum]

I agree with you a 100%, there, CJ.

I think it's going to get a lot worse than most people are predicting. The townhomes where I rent have dropped 45% in price since August 06. There are already short sales and foreclosures...and 08 is supposed to be the tough year. eek.

While it's going to get ugly here for a few years, I'm really looking forward to seeing sanity return to Florida. Heck, maybe then I'll buy a place. For now, I'm happily (luckily and thankfully) renting.

[SANDYHAIR]

CJ Thank for you honesty.I don't feel were anywhere near a bottom.Also the area I used to live was soooooooooooo nice but now it's not people not takeing care of the homes a real shame . This is a real mess I'm gonna wait until this whole thing washes out before I buy again .I want an area where people take care of there home and can afford to.Not empty homes, unkempt lawns and homes.sad

[Wendyb0077]

I checked the join date and number of posts. Nov 07. WOW! I guess this makes one an expert with a crystal ball. The market is what the market is! No one agent, seller,or anyone else can change it. They all thought the world was flat but no one fell off!!! Things will change for the better when people start thinking the glass is half full not half empty and aren't completely out of touch with reality. CAYBREN started this thread and is completely right! People used their equity to do things like buy investment property New cars, trips etc. and think that they are going to get lots more $$$ when they sell. So those sellers are mad at the market. Well Hello! The money was already made. I'm one of those people who used my equity in my primary home, so tough luck to me too. I either sell my house for less then I owe or hang on to it until the market eventually goes back up. The point is I already made my money! I could never have saved the amount of equity made. Home ownership is the best way to go. Just do the #'s! You gain when you buy! Just buy smart! If you wait until the glass is empty like CJ wants you to do, it might be too late. There are always deals out there! Happy homeownership to you all!!!

Originally Posted by CJFlorida

Check the join date and number of posts. We are having an invasion of agents and sellers trying to juice things up. But the down cycle will run its course and the denial will start fading by the end of 2008.

I love Florida, love it, love it, love it....but housing is completely out of touch with reality and the next few years will get things back down where they should be.