should we all sell now? (Orlando, Kissimmee: real estate, homes, price)

[backtofla]

for those trying to move out of orlando? are prices going to keep dropping? if any of you are planning on moving out of orlando, are you trying to sell now b/c of what may happen in the next 2-5 yrs?

[GregTraub]

If you plan on moving within the next 2-5 years then YES, I suggest selling now instead of waiting another year or two.

Think about the math, and look at the sales statistics. It WILL take at least a year to sell off excess inventory to normal levels...that is IF homes stop coming on the market. Be conservative and say the market drops another say 6% from today's prices in the next year. So come Oct 2008 your home worth $100 today is now worth $94. Now lets assume the market goes back to normal pace appreciation of say 3% a year....it's now Oct 2009 your home is now worth $96.82, Oct. 2010 worth $99.73 and so on.

Of course no one has a crystal ball and the real estate market is very unique with millions of individual suppliers (sellers) and millions of individual demands (buyers). But if the market even follows loosely with economic principals, prices will be pressured downward for at least a year, and in my opinion longer. As far as percentage loss, who knows, I know some area's that have lost 15-25% just this year, and others that haven't lost any or registered a slight gain.

I think I sent you statistics a few months ago...or that was someone else on the forum. But the numbers don't lie and tell a good story to those that interpret them to their purposes.

Should we all sell now??? NOOOOOO! please no, if everyone sells all at once it will make prices take a real freefall!

[compelled to reply]

23 Orlando-Kissimmee FL 07Q1 09Q1 -15.1 drop

Double digit* home price drops coming - Sep. 19, 2007

[Wendy Morris]

This post caught my eye , my advice is to stay where you are right now as the market will recover and gain some stability over the next 12 months. We had a great ride in the orlando area from 2004 and the market had to slow and find its place .
Moderator cut: blog

[oresident]

Originally Posted by Wendy Morris

This post caught my eye , my advice is to stay where you are right now as the market will recover and gain some stability over the next 12 months. We had a great ride in the orlando area from 2004 and the market had to slow and find its place .
Moderator cut: blog

Orlando's population increased by over 14% in the last year. Now let's think, assuming growth continues, do you expect the average 3% appreciation rate to apply in a city undergoing such massive growth?

The truth is that future values are really hard to predict for anyone. My real question is why it matters so much if you lose a little or gain a little? If you hate your life here then selling for less than ideal isn't exactly going to render you homeless. So why would you base your life decision on something like that? You only live once.

ores