Are housing prices going down yet? (Orlando, Lakeland: mortgage, loans, real estate)

[Floridian to relocate]

jammie that is fine i did not say it the best way . i would tell you to think long and hard before you move here . it is not cheap here home insurance is a joke ours was $900 a year now $2200 and we did not have any damage in any storms taxes on your house are bad to ours are up from 2 k to over 3k now. the one thing they are short of is apartments they all got sold to turn them in to condos the last time we rented in orlando was 10 years ago and the rent then was $650 a month for a two bed. the reason we are moving is all off florida not just orlando cost so much to live and wages just seem to stand still just makes it so hard to get buy . the schools are to full can not suport the growth as fast as they open them they are full. the crime is not that bad as people say yes its there but it is everywhere you go today . all in all orlando is a nice place to be if you have money but not if you are living pay check to pay check. fell free to contact me in you need any advice on where is a nice area ect ect
ps where you moving from

[Jammie]

Hi Relocate, I just posted and it ate my post.

We're from So. Dak., but our remaining family lives in Fla. so that is one of the main reasons we'd relocate. Also, I have a bit of fibromyalgia and spinal problems (but I still work and am just fine as long as I have pain meds) and the cold and snow really bother me. Actually, I've always hated winter.

We would just be renting and we've found a chain of apartments that are nice and clean and cute. They aren't fancy, but they're nice. The rent is comparable to what it would be here. We've spent our entire lives here so renting is definitely a wise move for us just to be sure we like it there.

In the future, we'd probably consider buying a small condo, but who knows? I've noticed that several motels have also been renovated into condos, but they're very small. We don't want to go back to having a mortgage and we don't have a spare 300,000 lying around to buy a home, but we'll find a way to live in the Florida sunshine.

[Floridian to relocate]

well good luck to you hope it all works out for you and you can enjoy everything fl as . if you need any help just let us know

[pianogal]

Floridian to relocate...I really appreciate your helpful attitude. It is so refreshing on this board! Jammie, you are WELCOME!

[dlh891]

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.

I hear you! I haven't lived without a pool in more than 10 years and we just moved into our new house without one. Just found out that is my Valentine's Day present, my husband is having a pool put in. More cleaning, oh well, the dogs really do enjoy it.

[jbravo]

Well, I could have easily sold my home in June 2005 for 250K in a matter of weeks. I live 27 miles from Orlando in Tavares which is just West of Mt. Dora (3 minutes away.) The house is an Energy Star home built in 2005 with a lot of upgrades in a nice development with access to a 281 acre fresh water lake that has no public access. I put a FSBO sign at 229K in Dec....lowered it to 219K in Jan ... and just reduced it to 209K today. I have no motgage and own a lot in Mt. Dora that I plan to build a house on; so I can pretty much do as I please (sold properties in South Fl in 2004). At 209K the price is close to the land cost and building cost IF I build the house myself by contracting directly and do not use a contractor / builder!!
So.... have prices gone down? you bet! Are sellers stubborn? Not all of them!
What will happen in 3 months? You tell me.

[Jammie]

J, that's interesting that you mentioned lowering your price on your house. I just went through a few of the condos that I've been watching and a couple of them have lowered their prices, too.

[jbravo]

Originally Posted by Jammie

J, that's interesting that you mentioned lowering your price on your house. I just went through a few of the condos that I've been watching and a couple of them have lowered their prices, too.

There's a 13 month supply in the Orlando area just based on the Realtors numbers( doesn't include FSBO or developers that don't list) Prices will still go further down, condos more so. The scary part is that I am selling my house at very near cost now (replacement value of house plus current land value.)
I can sell at this price because I have no mortgage, others can't.
Since I am building another house, without using a contractor, I now the numbers.
If at 209K I cannot sell it, then the housing market is not in a downturn, it's in a recession.

[clarabell]

Originally Posted by jbravo

There's a 13 month supply in the Orlando area just based on the Realtors numbers( doesn't include FSBO or developers that don't list) Prices will still go further down, condos more so. The scary part is that I am selling my house at very near cost now (replacement value of house plus current land value.)
I can sell at this price because I have no mortgage, others can't.
Since I am building another house, without using a contractor, I now the numbers.
If at 209K I cannot sell it, then the housing market is not in a downturn, it's in a recession.

We are looking to buy later this year (May/June), what kind of house do you have? Do you have a pool or community pool?

[jbravo]

Originally Posted by clarabell

We are looking to buy later this year (May/June), what kind of house do you have? Do you have a pool or community pool?

Sent you a private message with info. You're in a buyers market for sure. Get exactly what you want. Since I live in Tavares / Mt. Dora area, you would have to be interested in my area to be interested in my house. A search under "Mt. Dora" "Tavares" yields some nice threads, some of which I contributed to. I love this area and it is very inexpensive and beautiful to live here, but it's not everyone’s cup of tea.