[2fla]

Since we will be house shopping in SW Florida very soon, I've learned a TON from this website. What's interesting is that while we were packing I came across one of those Homes For Sale books you pick up in the grocery store. I think it was only a few years old. 2003 I believe. Looking through it I was amazed to see the type of houses that I'm currently watching on-line with similar features in the $250K were selling then for around $100-$125. On the flip side, the house that I paid $84K in 1989 will probably sell for around $310K....at that's a steal in my neighborhood because I am not going to be GREEDY - I want to move! How can I possibly complain of the person in Florida who realized the same type of appreciation that I did? They're cashing out for whatever reason and so am I. But I'm doing it to realize a dream that I've had for 20 years - to live in Florida. If the housing boom didn't hit like it did I wouldn't be able to afford to move at this point - I'd still be waiting to build enough equity in my house to afford it. I just hope I don't find a house that I really, really like and then have to deal with a greedy seller.

[Everett]

Originally Posted by rkumar3

Everett ... yes some of them are sitting on ~100% profits, but there is GREED. Guess I shouldn't use that word since I know it takes a lot of guts accept 420K for a house when you know your neighbour sold his (similiar model/condition) for 520K a few months ago!!

That is what I was trying to read between the lines. What is the good of whining about the past when we have to live in the now. If you can hold on to your house--hold on to it; in a year or two the market will come back and probably surge some more. If you can't, do what you have to do.

When you have seen double digit appreciation for years, you forget how many Americans have sold their homes at a loss or paid 15% on a mortgage. Your real estate agent can't say this but I can, in a softening market holding on too long is worse than taking a bit less equity now.

If you have ever played the stock market and rode a stock all the way to nothing thinking it would come back, you know what I mean. You are competing with many other home owners to sell your property--cut the price and sell yours--let them sit on theirs hoping that the market will come back any day.

[rkumar3]

Well I don't really want to get into whole stocks/housing debate.. But in all fairness you can not compare stocks to homes. People buy homes to live in... people buy stocks to trade/make money. If it is your primary residence, it doesn't really matter if the market goes up or down 15% or 50% since you are living in it. The price appreciation on your 'home' only comes into play if you are downsizing or relocating.

Now if it is an investment property it is a separate story since you can sell it when the market is high and wait for this kind of market to look for oppurtunities.

[sami]

Originally Posted by lulu

I agree...we're looking into brand new homes. We're just so sick of having to fix things - the roof, the door, the tub, the fridge... everyday it seems something konks out. Can't be the same...
Ohh...just think, stepping into a fresh spanking new home w/new appliances, walls, roof, etc. ahhhh.... what a dream!

Hi folks, I'm back, your favorite (???) working class slob..... (just kiddidng)....but I am a working class slob.... I soooo enjoy the comments and advice though I gotta get more rest and pace myself on the computer. ............ I guess everybody's dream is so different. Yes I do understand other points of view. I never had a new house...........I can't afford one AND I just need something to keep me busy. I sooo enjoy my house and the fixing up. Hey people, I really hope that those of you who want a new house can get one. At least maybe I can give ideas to those on my level.....many of my friends own homes and even apartment houses...on very modest incomes. Hey I drool (a little) over $50,000 salaries. Peace. ..................Please people, I like you guys, if you get a new house, be careful. I have plenty of friends and family in construction and I have done construction work myself...........and a lot of new construction is crap. Please be careful. (Maybe somebody out there understands that is not always bad to get a used home that can be properly inspected.)

[Everett]

Originally Posted by rkumar3

Well I don't really want to get into whole stocks/housing debate.. But in all fairness you can not compare stocks to homes. People buy homes to live in... people buy stocks to trade/make money. If it is your primary residence, it doesn't really matter if the market goes up or down 15% or 50% since you are living in it. The price appreciation on your 'home' only comes into play if you are downsizing or relocating.

Now if it is an investment property it is a separate story since you can sell it when the market is high and wait for this kind of market to look for oppurtunities.

You may have missed the point I was trying to make. As a real estate agent, surely you are tired of dealing with unrealistic sellers who refuse to price their home in accord with the current market? In a buyers' market, they want to sell for what their neighbor sold his house/condo for a year ago when sales it was a sellers' market.

I'm trying to point out the practical wisdom of moving your property for a few dollars less and sell it NOW, before the market slides into a more severe correction and they see 20% or their appreciation go out the window.

[bamboosmom]

I agree with you Everett. We are going to take the next offer seriously and
not be greedy! There are too many homes for sale out there right now.
We may even have a deal with the neighbor's friends. They are looking to purchase a home in our community but for a bit less than what we have the price listed for. We will make them an offer and see what they can afford then go from there.

[PHINSFAN]

Originally Posted by Rosario

What part of FL are you in?

we're in New Port Richey, Pasco county

[PHINSFAN]

Just a couple of things I'd like to mention and everyone has given great points, ALOT of people are greedy because they got their homes cheap, but ALOT of realtors are unrealistic too, when we relisted our home last month we had 6 realtors come in and want to price our home $50,000 above what we were thinking about (since it had already been on the market) BECAUSE they were looking at the sales comps for last year 2005 instead of 2006 sales so to just say that sellers are unrealistic is not true.
Also anyone can access tax records in most states (Florida is one) realtors also pull these records and see what was paid and when BUT, what it neglects to show is if the house was refinanced, as we did for new roof - AC sys - etc, so it is not as accurate as it shows (I had a realtor state this to us because ours showed our org price not our refin amount)

Everyone have a great day

[RAINBOWWAVES]

Like with everything else, houses are waaaay over what they are really worth. My neighbor had his house on the market twice in 2 yrs. He bought it for 159,000...it was a really nice house...clean and needed no repairs. He completely destroyed it altho he thought he was bettering it. They put up absolutely ugly wallpaper in every room and even on the ceilings! He added a closet in the master br and it's open on one side. The kids painted pics on the walls. The bathrooms are sooooo loaded with mold. I could go on and on....anyway, he put the house up for 250,000 the first time...no bites...then a few months ago he put it up for 325,000..LOL...no bites. So he said if ppl don't want to pay the price, he'll just stay put. They are from Ky and are true hillbillys...the property and his yard are filled with junk! He cuts the lawn only in front and does no weed wacking.

[Rebecca in Tampa]

I totally agree, if you want your house to sell clean it up and make it look as new as possible. Thankfully for all the home owners out there, new home construction is starting to fall... Building permits are at there lowest. That is good news, cause it is hard competing w/all the new home building! But as stated, the tract homes and such may not be a better alternative...There is so many corners cut and things done to quick to be done right! Showing homes the buyer is always looking for the home that needs the less work. Therefore, do the maintenance your home needs. Make it show great and it will sell quicker than others. A home warranty is great also. Most newly built homes come with a warranty, therefore people feel confident. your older home can have one also for around 500-600$ It gives the buyers more confidence. They are not moving in a home that is going to needs costly repairs.

I also feel a house shows better w/the minimal personal belongings out. If you have a ton of extra items on your walls/shelves/etc. Pack them up and store them. It makes the house look bigger and Newer the more "naked" it is. (put in attic or garage till the home sells) Make your home appear cleaner and bigger.