U.S. CitiesCity-Data Forum Index
Happy Easter!
Go Back   City-Data Forum > U.S. Forums > Florida > Orlando
 [Register]
Please register to participate in our discussions with 1.5 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Jump to a detailed profile or search
site with Google Custom Search

Search Forums  (Advanced)
Business Search - 14 Million verified businesses
Search for:  near: 
Reply Start New Thread
 
Unread 10-13-2011, 07:01 AM
 
Location: Stone's throw from John's Creek
972 posts, read 684,053 times
Reputation: 644
Default Metro Orlando Foreclosures Up

Florida foreclosures: Rise in Florida foreclosures - OrlandoSentinel.com

If you're looking to buy, hold on a bit ... prices should come down even more.
Reply With Quote Quick reply to this message

 
Unread 10-13-2011, 08:01 AM
 
812 posts, read 614,216 times
Reputation: 412
Quote:
Originally Posted by leftee View Post
Florida foreclosures: Rise in Florida foreclosures - OrlandoSentinel.com

If you're looking to buy, hold on a bit ... prices should come down even more.
Maybe you missed the part of the article that said:
Quote:
The additional distress sales may not push down local prices further, Blomquist said, because the market has been anticipating an increase in auctions and repossessions.
That being said, I honestly hope you are right.
Reply With Quote Quick reply to this message
 
Unread 10-13-2011, 08:04 AM
 
Location: Stone's throw from John's Creek
972 posts, read 684,053 times
Reputation: 644
Quote:
Originally Posted by TedTLPN View Post
Maybe you missed the part of the article that said:

That being said, I honestly hope you are right.
Maybe you missed this part of the article :

Orlando real-estate broker Chantal Gakwaya, who specializes in bank-owned properties, said the giant mortgage-backer Fannie Mae appears to be putting more and more foreclosed houses on the market at a time when the unemployment rate is so high that the pool of prospective homebuyers remains small.

"They are starting to dump them on the market, and the problem is that the buyers are not there," Gakwaya said. "Prices will keep coming down, and then, hopefully, things will turn around."


Get out your Ouiji board ...
Reply With Quote Quick reply to this message
 
Unread 10-13-2011, 08:43 AM
 
812 posts, read 614,216 times
Reputation: 412
Quote:
Originally Posted by leftee View Post
Get out your Ouiji board ...
Maybe that's why I missed that point.. didn't have my glasses on and could have used the magnifier.
Reply With Quote Quick reply to this message
 
Unread 10-14-2011, 06:05 AM
 
Location: Central FL
1,383 posts, read 1,741,361 times
Reputation: 1146
We bought our first home west of Orlando in 2002. It was newly built, 1900 sf, 4 bedroom, 2 bath. Sold to us for $118,000. The going price now? $85,000. Prices in many areas are below what you paid for the place straight from the builder back in the day.

The scary thing is, once interest rates tick up again, we will see huge downward pressure on prices. (since your $1,200 monthly payment doesn't buy as much at 8% interest as it does at 4%)
Reply With Quote Quick reply to this message
 
Unread 10-17-2011, 07:27 AM
 
Location: Orlando
7,770 posts, read 6,148,279 times
Reputation: 3532
This really depends on the neighborhoods. In some areas the bottom was long ago reached and prices are on the rise.'
Reply With Quote Quick reply to this message
 
Unread 10-17-2011, 08:54 AM
 
Location: PA/FL/UT
1,293 posts, read 1,514,658 times
Reputation: 500
Quote:
Originally Posted by MovedfromFL View Post
We bought our first home west of Orlando in 2002. It was newly built, 1900 sf, 4 bedroom, 2 bath. Sold to us for $118,000. The going price now? $85,000. Prices in many areas are below what you paid for the place straight from the builder back in the day.

The scary thing is, once interest rates tick up again, we will see huge downward pressure on prices. (since your $1,200 monthly payment doesn't buy as much at 8% interest as it does at 4%)
Our story is similar. We also bought our West Orange new construction in 2002 at $130k. We finally short-sold it for $92k in August. What a disaster that was.
Reply With Quote Quick reply to this message
 
Unread 10-17-2011, 09:38 AM
 
Location: Oveeder, FL
5,039 posts, read 4,917,905 times
Reputation: 1399
Our house went from $300k to $135k.
Reply With Quote Quick reply to this message
 
Unread 10-17-2011, 11:39 AM
 
Location: Amelia Island
1,564 posts, read 1,172,285 times
Reputation: 916
Quote:
Originally Posted by sp2007 View Post
Our story is similar. We also bought our West Orange new construction in 2002 at $130k. We finally short-sold it for $92k in August. What a disaster that was.

WOW, I would have thought that 2002 prices were back far enough not to be affected. We have definitely retracted to 2004 here and it seems to be stagnant for now. There are a lot of those that are trapped though and have no way of selling unless they bring a good bit of cash with them to closing. The majority of these are from 2007-2009 sales.
Reply With Quote Quick reply to this message
 
Unread 10-17-2011, 12:21 PM
 
Location: Central FL
1,383 posts, read 1,741,361 times
Reputation: 1146
I have a friend who bought in a nice neighborhood in 2000 and her home is now worth less than she paid for it back then.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Options
X
Data:
Loading data...
Based on 2000-2011 data
Loading data...

123
Hide US histogram

Over $74,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Florida > Orlando

All times are GMT -6. The time now is 08:23 PM.

2005-2014, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25 - Top