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Thread summary:

National report on housing industry, commentary on housing data, existing sales of 6.2 million homes, worst in housing crash likely over

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Old 01-26-2007, 10:11 PM
 
Location: St Pete -- formally LI, NY
628 posts, read 1,647,002 times
Reputation: 231

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Quote:
Originally Posted by hiknapster View Post
Are you actually saying that because you are a realtor and some of the ads on this forum are realtor driven that you are more entitled to your opinion?
Quote:
Originally Posted by hiknapster View Post
Being that you are a realtor, Shores9, this must come as great news!
Quote:
Originally Posted by hiknapster View Post
Yep. A realtor knows what's going on, but a realtor is not going to admit the market took a dump so they try to put their positive spin on it, like Shores9, who IS a realtor.
Hiknapster - You are certainly entitled to bash on realtors with your sarcasm… you are entitled to your opinion and in fact I am pleased you express it

– I will repeat…
Quote:
Again as a Realtor I’m pleased to be a part of supporting a forum where people can express their opinions regardless of what experience or background they have
What part of this would make you possibly think I am more entitled than you or anyone else???

Unfortunately this is off topic and taking away from other interesting on topic replies so I will not respond further
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Old 01-27-2007, 06:11 AM
 
Location: Knoxville, Tennessee
22,528 posts, read 45,844,171 times
Reputation: 13266
We have a realtor on the Tennessee board and she is extremely helpful. She does not relentlessly start threads about how the market is doing great in her state, and I bet she could, because Tennessee real estate is doing well. In fact, a lot of your potential clients are moving here, sometimes to my chagrin. What she does do is answer people's questions. She's great.

What really fried me was the thread you started just before this one entitled "What do they know that we don't?" You actually said, "I personally have recalculated my personal financial position and not just based on these facts but on an overwhelming amount of data that suggest Florida will not get cheaper or lose significant ground regarding cost of housing and living but in fact will continue to increase. As such I am looking to make adjustments in lifestyle, work, and housing so that I can continue to afford to live here because I love it here!!"

I wanted to ask, "What are you going to do, sell your plane?" but I refrained. Not once did you disclose that you are a real estate agent.

Yet, someone on here had a question about closing costs. I watched the thread all day and not once did you attempt to answer his question, you just continued arguing that the Florida housing market is doing GREAT!

Cut me a break.

I gain NOTHING by being honest. I've never owned a home. I would like to buy one, and I see prices going up in Tennessee due to the influx of people moving in.

Now I'm sure you think that I am stupid. Maybe. At least I'm honest and maybe that good karma that I project will come come back at me one day.
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Old 01-27-2007, 06:29 AM
MB2
 
Location: Sebastian/ FL
3,496 posts, read 8,535,451 times
Reputation: 2688
Hi there people
First of, relax, take a deep breath.......and.....SMILE!!!!
All I know is, houses here in FL are plentyful, but buyers are very reluctant. My house is still for sale, sitting, even though it has a real good price on it. Buyers are just having this "well, I'm gonna wait and see" kind of attitute right now. My realtor is telling us (she is very upfront, and sometimes brutaly honest), that inventory is still moving, hence people still move here. But, at a MUCH SLOWER rate then they used to. Some still want to wait if home prices will drop further......(that's what 2 couples said, after they looked at our house.)
All I know is, we have no other choice BUT to put it on the market right now, because we are getting killed, financially. So, before I risk losing the house, and ruining my hard earned excellent credit, I'll rather try to sell it ASAP!
So, all in all I see with my own eyes, that houses have been sitting....EVERYWHERE!
I just hope, someone will come and buy mine.....soon
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Old 01-27-2007, 06:40 AM
 
Location: Knoxville, Tennessee
22,528 posts, read 45,844,171 times
Reputation: 13266
MovingbacktoPA:

I really hope someone buys your house. I really do.

There was a woman on here awhile back that did a lot of marketing on her house through the internet and she got it sold. Maybe you could also post it on city-data through the classifieds?

Maybe you've done all this but I'm just trying to think of things to help you.
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Old 01-27-2007, 08:48 AM
 
2,141 posts, read 6,229,167 times
Reputation: 586
I think buying a home right now is a risk. The Prices are lower each week and the once hot construction jobs are very hard to find. Alot of contractors are out of work and can't pay the bills. NBC 2 reports from Florida. “New figures show the number of home foreclosures is sky-rocketing in Collier County. The numbers are in for 2006 and they’re record-setting. In fact, they doubled in just the last year. Everyone is rushing to sell and those who can’t sell are left without a choice and foreclosure is the only option.”

“Collier resident Jose Giraldo thought he would be able to flip his home quickly. ‘They said it was a good investment at that time, that we’d make some money so we went for it,’ said Giraldo.”

“But now his second Naples Park home is sitting on the market. He bought the home a couple years ago when the market was hot. He’s put thousands of dollars into fixing it up and he says the mortgage payments are just too high to handle.”

“Realtor Glenn Ginsburg says many people are finding themselves in the same situation, they’re in over their heads and are left without a choice. He says what started as investments are now ending as foreclosures.”

“‘Interest rates were at four percent, now it’s twice that,’ said Ginsburg. ‘Put it this way, it’s not unexpected.’”

“‘We are like in a cage, you know?’ said Giraldo. Giraldo doesn’t fear foreclosure, but he does fear his financial future. Right now, he’s paying $2,200 a month for the loan on this home plus the bills and his other mortgage. He says it is just too much to handle. ‘We have to take another loan, and just wait,’ said Giraldo.”

“But according to Ginsburg, the wait won’t be a short one. ‘I think we’re only seeing the tip of the iceberg,’ said Ginsburg. He expects the 2007 market will sink even lower, meaning foreclosures will continue to rise.”
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Old 01-27-2007, 08:59 AM
 
Location: So. Dak.
13,495 posts, read 33,305,351 times
Reputation: 15039
It does seem that now is not a good time to buy a home in Fla. We plan on renting to start with, but even if our situation was different, we would still wait and see what the market will do. It's just not possible for homes to keep increasing and wages stay stagnant. Not to mention the high cost of taxes and insurance.It'd be awful for homebuyers to pay 300,000 for a home right now and have it decrease in value to 200,000 in one year. That's a huge loss for the average person which is the category we fall into.
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Old 01-27-2007, 10:08 AM
 
Location: Central Florida
1,406 posts, read 4,571,513 times
Reputation: 826
A January 11th article in the Orlando Sentinel states that in the Orlando market, sales for 2006 declined 12%+ from 2005, and rose just a bit over 2004 sales. The December median price rose 4.2% from December 2005, to $250,000. The $250k median price has been steady since May 2006. There are still a lot of homes on the market estimated at more than an 11 month supply - which indicates, according to one realtor, "Basic economics 101 tells you that prices are going to get softer."
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Old 01-27-2007, 10:38 AM
 
Location: Central FL
1,683 posts, read 7,438,953 times
Reputation: 831
Quote:
Originally Posted by FL_TN_Nana View Post
A January 11th article in the Orlando Sentinel states that in the Orlando market, sales for 2006 declined 12%+ from 2005, and rose just a bit over 2004 sales. The December median price rose 4.2% from December 2005, to $250,000. The $250k median price has been steady since May 2006. There are still a lot of homes on the market estimated at more than an 11 month supply - which indicates, according to one realtor, "Basic economics 101 tells you that prices are going to get softer."


That may be...perhaps it depends on your location. Here in my newer subdivision in the East Orlando - Lake Nona area - we are seeing homes sell rather quickly. Every weekend I drive the neighborhood checking for For Sale signs.. (Do I need to get a life or what? LOL)

Our community newsletter also lists homes for sale, pending and closed and includes the prices. A couple of months ago we had 20 homes for sale in a community of 330 homes. We got down to 3 at one point, new homes have come on the market and now we are back up to about 15. Last summer/fall there were homes selling for less than they had in 2005, but now they are almost back to 2005 levels and still selling.

It's funny that we have 2 homes that have been for sale since last September and they haven't sold - other homes all around them have come on the market, sold and closed, but these haven't. They are not overpriced - in fact they have reduced the prices and are selling for less per square foot than other homes on the same street. I don't see anything wrong with them. One is gorgeous, has never been lived in - has beautiful wood floors throughout the entire 1st floor, a balcony off the master bedroom, 2 fireplaces, a huge gameroom, is on a conservation lot and is priced at 415,000K - a steal compared to the other prices in the area - the home down the street is the same size with fewer upgrades and amenities and is priced at 535,000K - one across the street sold for 499,000K. Go figure?
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Old 01-27-2007, 10:58 AM
 
Location: Central Florida
1,406 posts, read 4,571,513 times
Reputation: 826
Pianogal: I'm not sure what the "Orlando" market entails...sometimes it's a tri-county thing or maybe just metro Orlando. I've seen prices here in Clermont come down quite a bit -- up to around 12% from their original asking price in some instances. And I would think the Lake Nona homes would hold their higher value and probably go up since it's such a "hot" area.
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