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Old 04-07-2008, 08:10 PM
 
Location: Winter Garden, Fl
985 posts, read 2,244,653 times
Reputation: 245
Default thanks faithfulfrank

Thanks for your comments. I actually remember reading that thread and thought it very interesting. The point i try to make to alot of people on here is that each area is different. For example, pricing in areas like Davenport etc which are predominantly short term rental areas will fall to a lower price than areas like Winter Garden or Windermere.

There is alot of negativity and scare mongering by alot of people on here which is a shame. Im glad this thread has brought out the more balanced comments than i have recieved in the past...lol whether it be in agreement or disagreement with me....;-)

Thanks again.
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Old 04-11-2008, 11:13 AM
 
269 posts, read 685,179 times
Reputation: 57
Hmmm. In 1996, my old house sold for $165K. I bought in 2001 for $185K. I sold it for $350K in March 2005. The same house is for sale for $280K right now.

Let's say they are offered $260K for an easy closing. It has sat for a long time on the market, so I would assume that's what it would go for (I could be wrong) That would still be a pretty big gain from 2001 to 2008. ($185K to $260K).

With these numbers, I think sales will still go down, especially considering insurance and property taxes.

I had a 5.5% rate in 2001, taxes were $280 per month, insurance was $600 per year, and my monthly payment was $1380.

At $260K with the going 5.5% rate, taxes at $400 per month and insurance at $1200 per year, the monthly payment would be roughly $2000 ($620 more per month than what I was paying when I left in 2005).

Did salaries go up that much in the 7 years in Orlando? If not, I would assume the prices still have some room to go down.
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Old 04-11-2008, 12:20 PM
 
160 posts, read 248,766 times
Reputation: 103
If you can get a loan, or have cash, it's a great time to buy. Trouble is, most buyers can't. Which is why values are in the tank.
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