[Obrero]

Originally Posted by Mike Peterson

Ok, so I looked at them and the majority were built before 2003.
This seems to prove my point.
It does not matter what the asking price is, it matters what the owner of each particular house paid for that house and what their mortgage is.

No, you are looking at it from a sellers point of view.

From a buyers point of view: Is it a better deal to rent or buy those houses? I think the number speak for themselves.

[afghan67]

Originally Posted by Mike Peterson

Ok, so I looked at them and the majority were built before 2003.
This seems to prove my point.
It does not matter what the asking price is, it matters what the owner of each particular house paid for that house and what their mortgage is.

There are at least seven houses listed that are under $2000 per month and that were built after 2003. Average rental for these seven houses: $1,737 per month (and many are offering additional incentives to move in). It's not like there are a bunch of houses that were built after 2003 on that list where the owners are asking for higher rents.

That is only one property manager. Those rents are representative of what this market is dictating. Believe me, those owners would take more if they could get it. Heck, they are even giving incentives to get people in these houses.

[Mike Peterson]

Originally Posted by UKOK

No, you are looking at it from a sellers point of view.

From a buyers point of view: Is it a better deal to rent or buy those houses? I think the number speak for themselves.

This is what happens when you get involved in a discussion with out looking at all the posts first.

This had to do with rents covering a landlords costs. Not whether it was better to rent or buy at this time.

If you would like to go back and read it from the beginning, I will be glad to discuss it with you when you are done.

You can start with lostbuyer's post at 12:18am

[SKB]

I looked up those houses and they are really ugly, I can not imagine anyone wanting to pay 190K never mind anyone paying the 300K wishing price they had. Most of them do not even have landscaping work done. They look like military housing and cheaply built.

It will be interesting to see what kind of response they get. I wish I could be there to see it.

Hey, Oldtimer, check it out for me

[lostbuyer]

I saw some houses in lakeland wich are 30% complete,being sold as is through the builders...for 89k ,or they could finish them for you for 179k...they are desperate to get rid of them.....

[info please]

If the market was built on a good foundation it could have lasted forever .But It was not.

[kort677]

Originally Posted by info please

If the market was built on a good foundation it could have lasted forever .But It was not.

that's not true at all, the past few years growth levels could never be sustained, the market is backing and filling and in time will resume normal growth levels

[info please]

Housing market was built on a weak foundation . Look at all the forclosers .I really don't think they got the buyers anymore. imho When the rates do go up I feel the real problems will begin. And rates will go up that's not an if. IT'S A WHEN.

[fkweston]

ITs not bursting because of you. People are not stupid beyond this forum They not believe everything they read here. You are a circle of jerks trying to purchase at scam prices and adding negative perception on RE consumer / investors.

[nychiefsfan]

Originally Posted by Mike Peterson

Ok, so I looked at them and the majority were built before 2003.
This seems to prove my point.
It does not matter what the asking price is, it matters what the owner of each particular house paid for that house and what their mortgage is.

That brings up an interesting point, regarding the age of the house.

From your experience Mike, how long would it take, on average (I think it's between 3-5% per year) for a $150k house to double in value? Let's assume the house has an existing in-ground pool, fenced in yard, not on a cul-de-sac, and not on any waterfront. Let's also assume the only changes done to this house was basic upkeeping, eg new or newer pool pump, A/C, etc. and the house is in a good neighborhood with good schools.

Would the age of the house matter in how quickly it takes to double in price?

Would a newer house appreciate quicker than an older one?

How long, in your opinion, would it normally take a house to double in price?