[Mike Peterson]

Originally Posted by john1963

realtors always predict a rosey future...they are just like used car salesmen.

ever heard that phrase "don't ask a barber if you need a haircut"

Well I don't know what line of work you are in but I am sure if I knew I could point out many examples of unethical behavior there. What you are doing is stating every realtor is the same.

Over the last year I have advised many people on what they should think about doing regarding real estate. Each time what I told them was dependent upon the specific situation. Some that were thinking about selling I told to hold off, others I told it would be the right time. Each situation is different and is advised as such.

One other thing I will point out is a racist has similar linear thinking as yourself.

[MyHomeIsInOcala]

Originally Posted by Prichard

I think I'd rather listen to the real estate people than the people desperately trying to buy a house on the cheap, thinking they will "crash" the market further with doom & gloom posts.

The bottom line is - READ EVERYTHING! Then you decide what "the market" is doing or not doing.

I agree, as long as you have a good agent who has their ear to the ground!! There are some Great Agents out there who will be HONEST with you and try like crazy to locate a deal for you. ie: Agents who know that you can purchase a dump of a home, in a neighborhood you like, with loans geared toward rehab (sometimes you can waive payments up to 6 months while rehab is being done)... I loved doing that kind of work for people!

BUT, there are a lot of bad agents too.

In the end though, it really is up to the BUYER to be wise enough to make sound judgments that include simple things like calculating the total payment with the new taxes and HOI.

IF you can not afford to live here and are renting, you have the luxury of at least getting your resume out to companies in other states where housing (in whole) is less expensive. There are MANY nice areas littering the southern U.S. like that.

Prices are dropping, and there are some deals if you are not afraid to make the offer!! I just seen a NICE 3/2/2 on 1/2 acre go for only $105K! (it only needed a new roof!!!)

[macguy]

Originally Posted by JimKing

I hope most people reading these threads will go check out housing bubble info. on the web. Just type housing bubble into any search engine.

It is becoming apparent that more and more people who have a vested interest in selling and renting overpriced Florida real estate are now posting under various names.

Please check out all the thousands of real stories on various blogs, complete with links to the actual news articles.

Out of curiosity, what would it take for you to buy?

[HockeyMom72]

Originally Posted by macguy

Out of curiosity, what would it take for you to buy?

We don't intend to stay in Florida more than 5 years, at which time we will be able to retire. My husband bought a small (900 sq. ft.) condo 3 years ago when he moved for this job. I am coming down next week. With my salary and my half of the house we sold on LI, we could easily afford something bigger.

I don't think it is worth it for only 5 years. Unless you are buying LONG TERM, it is too unstable a market to buy right now. Personally, I think we would be better off just putting up with the small $170,000 condo for more 5 years. Our daughter, who just graduated college, might move to Nevada in a few years. Maybe we will go there if she does. If she decides to stay in NY, maybe we can get something in Pa. where we can retire and still be close enough to see her. We are in a very flexible situation at this point in our lives.

Do I trust real estate agents? Hell, no. I used to have a broker's license.

[carolac]

Very wise counsel (as usual) Prichard. I have read every link, every article, every chart, every message posted over these threads, compare opinions with those links and others I've found on my own. I'm looking for what is consistent with the opinions of the economists. I see consistency in the comments with the articles pointing to the market recovering in a year or so--except for the condos--I believe they will take a very long time, and except for the one guy to predicts the 50% price decrease.

But I also see consistency in the separate opinions about the economy,and the problems people are having because they used their equity as an ATM, and agree that banks sold homes to people who should not have qualified.

I discount articles which include condos in the "crash" estimates. We renovated apartments over the spring and summer of 2005 to convert to condos. The ones near Diz sold for sticker-shocking, head-shaking prices at lightning-fast speed to predominantly foreign investors, while the ones on the common street didn't sell as well, and still aren't sold.

I think everybody's right about a little bit of everything, and I am tending to look at what the RE people are saying. But I do have to say, I really applaud the courage of the RE folks who are flat out identifying themselves as RE folks. It's dog eat dog here, and they're right out putting on Milk Bone underwear.

Originally Posted by Prichard

I think I'd rather listen to the real estate people than the people desperately trying to buy a house on the cheap, thinking they will "crash" the market further with doom & gloom posts.

The bottom line is - READ EVERYTHING! Then you decide what "the market" is doing or not doing.

[Songbird42]

From experience there are some very good real estate people out there, I've worked with a couple, know some very well, that being said........I'm in a hold mode right now, with all the houses for sale in Hernando Cty, which everyone jumped on the band wagon to flip houses, with 4,300 or there abouts available, there are far newer houses out there for less money right now, then what I can get for my home. I'm waiting till after the senate gets done with all there playing around and see where I stand. I don't have to sell, I'm in no hurry, but a change of scenery is what I need.

There are no crystal balls out there, real estate people are human, did they know that everything is going to come to a standstill? Doubt it, but hey,
I have several I can list with when the times comes, and I trust each and every one of them, with friendships at least 15 yrs plus, why not.

[nychiefsfan]

Realtor's view on the right time to buy a home:

During the Great Depression: "NOW'S THE TIME TO BUY!!!"
During the current housing slump: "NOW'S THE TIME TO BUY!!!"
Whe Armegeddon arrives: "NOW'S THE TIME TO BUY!!!"

[carolac]

Very smart of you HM. For 5 years I'd do the same thing. LOL at your insider comment.

[

Originally Posted by HockeyMom72

We don't intend to stay in Florida more than 5 years, at which time we will be able to retire. My husband bought a small (900 sq. ft.) condo 3 years ago when he moved for this job.
Do I trust real estate agents? Hell, no. I used to have a broker's license.

[Spree]

>>Realtor's view on the right time to buy a home:

During the Great Depression: "NOW'S THE TIME TO BUY!!!"
During the current housing slump: "NOW'S THE TIME TO BUY!!!"
Whe Armegeddon arrives: "NOW'S THE TIME TO BUY!!!"<<

Why does this bother you sooo much? Everyone has an agenda, including you.

[SKB]

Originally Posted by kort677

all that I can say is that if you need to buy a home, if you have the resources needed to buy a home then now is a good time to be a buyer, to repeat, it isn't an easy thing to find the right home at the right price in the right place, but if after doing your homework you find a place where you find good values in quality properties, this is a time to buy.

Like others have noted, some of the biggest naysayers here are probably people who are not in a position to buy and are hoping for collapse in order to bring prices down to a level that they can afford buy at. I suspect that these people will be the same people who after things have turned around, be it taking 1 year 2 years 5 years, will still not have bought a home and they will be moaning over how they blew their chance to buy.

Honestly Kort, how is anyone even suppose to know what good value is right now, prices are all over the place. Townhouses that sold for 300K in Dec selling last week for 145,000 do you honestly think anyone in that neighborhood will be able to sell theirs for 300K now?? How do prices get set? by the comparables.

I am a naysayer, why would you think I am not in a position to buy a house? What basis are you making that accusation on? I really would like to know and I am sure others would like to know that as well.

I want to buy a house but, I don't want to over pay and have the value drop in several months after purchase. I don't want to be like my friends that have already lost 20K since Feb.

I know you think "its only money" if you really feel that way, why are you spending so much time on this topic and not talking about the wonderful Florida lifestyle?