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Old 08-31-2010, 10:18 AM
 
216 posts, read 475,277 times
Reputation: 179

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I moved from the Uptown area 7 years ago to Ponte Vedra Beach, (near St Augustine), Fl. Sold my house 5 years ago and hear neighbors and friends talking about corrections. Fortunately I didn't buy in Naples, Fl like so many Minneapolitans because that's one of the worst hit in FLorida.
I know lots of Twin Citians who are underwater in both places.

Yes, wer'e going into a double dip; millions of houses have to be sold at market to clear the books which will soften prices for years.
My advice is don't either buy or sell right now. Stealing is okay!
Banks will be clearing the books and taking the best offer from those fortunate few who still have credit ratings and jobs. If you can get it for below construction cost you can't lose too much.
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Old 08-31-2010, 11:06 AM
 
Location: Home in NOMI
1,635 posts, read 2,655,638 times
Reputation: 740
Quote:
Originally Posted by grayrunner View Post
Stealing is okay!
Sounds good to me. What's your address - and your working hours?
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Old 09-01-2010, 04:45 AM
 
9,741 posts, read 11,152,452 times
Reputation: 8482
He was referring to: don't buy unless you "steal a house" (as in getting a "steal or a deal").
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Old 09-01-2010, 01:54 PM
 
Location: Home in NOMI
1,635 posts, read 2,655,638 times
Reputation: 740
Quote:
Originally Posted by MN-Born-n-Raised View Post
He was referring to: don't buy unless you "steal a house" (as in getting a "steal or a deal").
Of course. But I've noticed people advocating "stealing" (typically in quotes) on other forums lately. It seems that, as times get tougher, some people's inner demons are starting to show through their thin veneer of respectability. If you take "Thou Shalt Not Steal" seriously, you'd best refrain from making jocular references to it, otherwise somebody will think you're serious - or a fool.
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Old 10-03-2010, 06:26 AM
 
216 posts, read 475,277 times
Reputation: 179
A friend bought a brand new 3/2 house on St Augustine's west side for 32 k last week.
Millions more out there! Part of a development that went bankrupt. You can even get
some cheaper if you can finish them. Mostly just sheetrock and paint and appliances.
Below construction cost. That's what I call a steal! Not where I would choose to live
but with this economy wer'e heading into I would consider it myself.
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Old 10-03-2010, 11:33 AM
 
Location: Cleveland bound with MPLS in the rear-view
5,509 posts, read 11,870,451 times
Reputation: 2501
Sounds like flipping to me!
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Old 10-04-2010, 10:36 AM
 
Location: MN
1,669 posts, read 6,232,976 times
Reputation: 959
Quote:
Originally Posted by track2514 View Post
Source Born and Raised? (Not that I doubt you, just want to read it, I have noticed the recent price reductions) Also, it is always a great time to buy if you get the right price. I purchased my house over a year ago now and comparable houses are still selling for more than I paid (on my street and adjoining streets). If people listen to you and wait, they may wait too long and be stuck in another sellers market. As I said before, real estate is cyclical and there are always ups and downs, good luck trying to predict the peak of both. Finally, if we listen to Born and Raised we wouldn't buy a house like this:

TheMLSonline.com - Edina Listing - $169,900 - MLS#3935437 - Call 763-576-8286

Yeah that is right, 3 bedrooms, 2 baths on a .25 acre lot in your favorite Edina school district for $169,900.

P.S. Where is the evidence of your recession?
This supposed great deal of yours is still on the market now 50 days later and has dropped in price. Wouldn't somebody have picked it up by now if it was really a good deal?
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Old 10-04-2010, 06:09 PM
 
Location: Cleveland bound with MPLS in the rear-view
5,509 posts, read 11,870,451 times
Reputation: 2501
^Of course not...nobody knows what they are talking about
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Old 10-09-2010, 07:02 AM
 
216 posts, read 475,277 times
Reputation: 179
Default Sounds like flipping to me!

Well, it would be if it there were somebody to flip it to! With tight lending rules and no more friendly appraisers, this is a flip if you hold it for five years.
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Old 10-09-2010, 07:51 AM
 
581 posts, read 2,306,634 times
Reputation: 315
It seems like the "cream of the crop" housing is still inflated and refuses to come down.
I recently looked at a very highend condo; $500,000 for 2400 sq ft. I made a lower offer
and was refused with no counter offer.

Is there a website which lists home sales metrics for houses and condos by district?
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