Are housing prices going down yet?

[PamT726]

Originally Posted by Floridian to relocate

we are working wit a realtor tell us that condos are down but houses are are at the bottom now. so its up to you do you take the chance they come down more or on the other hand it can turn and they go right back up .this always happens . we are selling our house and have come down 30k and that is it we can just sit and take the time till they go the other way we are in west orlando and have seen house prices go up by 40 50 k a year

I agree with your assessment. We have had our home (northwest orlando) on the market and recently reduced the price by $7k. Now, we can just sit comfortably with no pressure. Clarabell remember that a listing price is not carved in stone and she can always make a reasonable offer based upon market research. If a seller is out of line on price, they will find out in many different ways. If it's acceptable, she'll get it; if not, she won't. In a real estate transaction, we should keep in mind that everyone who is selling a home is not desperate, not greedy, and not looking to "subsidize" a buyer. I've been on both sides of the equation more than 6 times in my "old age", so I know what I'm talking about. I usually find that if you're not trying to make a killing off of someone (in anything) or take advantage of someone's misfortune, you usually fare pretty well somewhere down the line.

A realtor and data tell me that things will "pick up" in late Spring, but prices will not dive or take a big tumble. Just my take on things.

[PamT726]

Originally Posted by amax41

since we are house shopping the latest from my realtor -

Orlando is about 1% from stable, not a lot of change, market is about 75 days on average.

As buyers, yep we are very apprehensive... my concern...this is a false plateau...the bottom make squak loose later this year.

I just don't get what "bottom" you're looking for? There has to be a correction, but if you buy "right", you'll always sell "right". When someone can make a $100k price adjustment on a home, believe me, they messed up somewhere. We're in this "bubble" because of greed and ignorance -- a dangerous couple. Everyone who does a real estate transaction is not looking to "get over". Some folks just want a fair price -- buying and selling -- so that no one goes to bed at night feeling ripped off. At least that's my goal.

[PamT726]

Originally Posted by Prichard

I guess everyone has to own a house with a pool in it once in their lifetime. I have a pool and after spending $17000 to enclose it, and looking at having to spend another $3000 to heat it. Plus having to clean it, put tons of chemicals in it, etc. Then every 7 years or so resurfacing the pool.

All this so that I can swim in it a couple times a month for 7-8 months out of the year. I figure that to swim in my own money pit, it costs me no less than $340/month over the 15 years that I intend on owning the house. Oh, and that doesn't include the cost of the pool, or the electricity to run the pump and heater. That's about $113/swim, and the privilage to clean the thing every week myself!!

NEVER AGAIN.

That's hilarious! I was "forced" by my husband to buy a house with a pool. I can't swim, and he's only been in it twice! Of course, the equipment runs everyday (to increase the electricity bill). I'm selling my Orlando home -- I should include a husband with the sale.

[PamT726]

Originally Posted by jbravo

Joe S
There's a 13 months supply of homes in the Orlando market! Are you for real?
I can list dozens of sources that predict a 7% decline in prices in 07 with FURTHER declines in 08. "Time to Buy" propaganda will not change this. By the bye, I own real estate and am selling my house. I am asking 30K less than what I could have gotten in days/weeks on Oct 05. I'm not complaining, I've made money and plan to make more in RE. If you challenge this post I plan to list dozens, repeat dozens, of sources. Starting with what Fannie May said TWO days ago right here in the builder's association meeting in Central Fl, oh, and I forgot, the spokesman for the builder's association agreed! Then I shall list Toll Brothers projections for 07 and write-offs for 06. I dare you, common, write that what I wrote is inaccurate.

I feel your passion. I don't, however, care about the any of the sources. If you ask them tomorrow, it will be something different. The only source I will agree with is that whoever got into the market trying to make a killing with some creative financing technique, will have a rude awakening. There will be many deeds in lieu of foreclosures coming up. And by the way, it's Fannie "Mae".

[carolac]

Originally Posted by jbravo

Joe S
If you challenge this post I plan to list dozens, repeat dozens, of sources. Starting with what Fannie May said TWO days ago right here in the builder's association meeting in Central Fl, oh, and I forgot, the spokesman for the builder's association agreed! Then I shall list Toll Brothers projections for 07 and write-offs for 06. I dare you, common, write that what I wrote is inaccurate.

Would you mind listing your sources with web sites if possible? If you cut and paste a site, would you please include the entire article as opposed to snippetts. I am interesting in reading everything available, and I'm sure there's others who believe "informed is armed." Thanks in advance.