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Old 08-09-2008, 08:51 AM
 
85 posts, read 181,267 times
Reputation: 23

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Quote:
Originally Posted by 2bohemians View Post
In our little stretch of beaches, we are starting to at least see some price stabilization trends occurring.

Sold Single Family Home prices appear to have kept an average in the $500,000 range for the past 3+ years.
seriously? you are saying the prices haven't gone down since 2005

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Old 08-09-2008, 10:16 AM
 
Location: Foothills of the Appalachians
440 posts, read 2,238,437 times
Reputation: 185
Quote:
Originally Posted by deep-blue-water View Post
seriously? you are saying the prices haven't gone down since 2005

All we are saying is that in Walton County (mostly the 30a beaches), it appears that there has been some stabilization in pricing of Average SOLD single family homes. Certainly there have been drops in prices since 2005. The average price may be slighty skewed as there are many luxury gulf front homes that are figuring into the equation which bump up the average. We are seeing homes that are not beachside going more around the $300,000 - $500,000 range.

We don't claim to have all the knowledge. In observing numbers and trends, we have seen what appears to be a stabilization occurring -- not so much concerned with the actual price but rather that prices may have dropped to a place where they can't drop much more. It doesn't mean anything other than that. We aren't trying to predict a bottom but rather just sharing our take on what is happening in our county.
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Old 08-09-2008, 02:53 PM
 
5 posts, read 13,207 times
Reputation: 10
We lost about 150,000 from what we paid in 2005, Home are selling for about half of what the price was in 2005/2006 in Cape Coral.
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Old 08-10-2008, 07:06 PM
 
7 posts, read 12,352 times
Reputation: 10
Default Affordability

Quote:
Originally Posted by Mike Peterson View Post
So if you make $40,000 a year you should be able to buy a home for $40,000?
Lol not if you're a realtor you shouldn't. Can't even buy a single wide these days for that.
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Old 08-10-2008, 08:19 PM
 
Location: Hernando County, FL
8,488 posts, read 17,891,847 times
Reputation: 5397
Quote:
Originally Posted by Queenofhearts View Post
Lol not if you're a realtor you shouldn't. Can't even buy a single wide these days for that.
You can buy a 2 bedroom concrete block home for that.
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Old 08-10-2008, 08:45 PM
 
7 posts, read 12,352 times
Reputation: 10
A 55+ is a whole different ball game. I have no clue about that market and I don't know anyone who does. Those forecosures are investors dumping properties because the homeowners fees are going up and the fees are going up because people are dumping them. When people stop dumping and start buying that snowball will stop rolling down hill. There's more to Florida than condos. As far as the other market which are families hurt by the food and gas increase, not on fixed income etc I think that market is coming back when the economy stabilizes and hopefully that will be soon. A whole lot of families out there need a place to live and if they aren't buying they are renting.
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Old 08-10-2008, 08:57 PM
 
7 posts, read 12,352 times
Reputation: 10
Gosh Mike a 40K concrete block home sounds nice right now. We put 50K down on this one and looks like we'll lose it if he can't sell somthing pretty quick Seriously though he is getting alot more calls which means things are getting better. Prices have stopped dropping in East Pasco.
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Old 08-10-2008, 09:03 PM
 
5,969 posts, read 7,719,032 times
Reputation: 1614
Here is a quote from a article I just read that may shead some light on the subject:

"Housing prices have more than doubled in most regions, but construction costs have risen as well. In many instances material costs have doubled and even tripled, so it may cost twice as much to build that house as compared to what it might have cost ten years ago. If the median and average selling price of a home continues to decline, then construction of new homes will fall dramatically. Why? Because rising construction costs and falling housing prices will squeeze builder's gross profit margins forcing them to postpone many future projects. Subsequently, demand for housing at certain price points which allow builders to earn a reasonable profit will have to catch up with supply before builders resume development. This theoretically would keep the supply of housing in check, thus dampening the possible fall in prices."

Here is the full article:
Real Estate: Buying A Home? Low Interest Rates - Buyer's Market - Declining Dollar (http://on-real-estate.blogspot.com/2008/03/buying-home-low-interest-rates-buyers.html - broken link)
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Old 08-17-2008, 06:19 AM
 
Location: bay county
4 posts, read 11,450 times
Reputation: 10
Did I ruffle the the feather of the mod?
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Old 08-17-2008, 08:37 PM
 
Location: Midwest
31,008 posts, read 19,500,891 times
Reputation: 7722
Quote:
Originally Posted by Mike Peterson View Post
You can buy a 2 bedroom concrete block home for that.
Is this the house you are talking about?



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