Are housing prices going down yet? (Miami, Orlando: mortgage, equity, relocate)

[Floridian to relocate]

amax you can not buy a over priced house banks will only loan you the money on what the house is appraised at less downpayment . if you do not like the price do not buy . from what i see on here the only ones upset by the prices are people trying to buy a house now . i would diagree with you on house going down much more only time will tell . but i do think the condo market will go down a lot more yet. where we are in west orlando they are still building and selling homes 600k to 1.5 m as fast as they go up , and before you say it we do not live in that price range home much less

[amax41]

FTR where have you been??? When you buy a house the appraisal is not real. Conveniently the house is "appraised" for the purchase amount.

As for your 600-1.5M range that is because the is the upper crust houses which sell just like the "starters" which are anything below 300K. The middle of 300K-450K is hard to sell territory.

You might want to go ask your lenders on the appraisal thing...mine came straight out and told me.

As for the price range thing any decent realtor knows that one.

[Floridian to relocate]

amax wron wrong wrong in todays market they have to get a true appraisal on homes . i know two couples that had it haapen to them saved them some money . our home is in the hard to sell range but we will just hold on till the market goes the other way if it takes five years so be it;
p s i am not a realtor

[Need_affordable_home]

I dont see the FL market rebounding. I can see it stabalizing once the bottom passes but theres too many people unhappy with FL(especially south FL) and lots of people leaving for the market to be good. In fact the experts are predicting the increase in house prices to not even keep up with inflation. If you are planning to sell, lower the price.

[Floridian to relocate]

why lower need a h so people can buy a house they think that they have the right to own . the market is what it is this is the price you pay for the sunshine , like you say in all your other posts you are leaving fl for tx or the northeast . so please stop going on about the same thing . i am selling at the moment we have come down as far as we are going to if the house does not sell will just take it off the market wait till prices go back up then put in on for more money . we would like to sell but do not have to sell , so if someone was to buy our house they will never get a better deal than now . and that is the way for most people in fl except for condos

[Tennessee gal]

I'm with you Florida to Relocate.......If we remember at the beginning of this topic....it is Florida and "39" other states in market low! Everything across the Nation has gone up; not just gas. Taxes, Ins., but also building materials and construction! Many areas have not kept up with wages to cost of living. Florida does not stand alone in this delima. I agree with you, I don't "have" to leave Florida. Many on this thread remind me of the "Old Carpet-beggers" of old who think we "have" to leave because everything is just sooooo bad in Florida.

[Floridian to relocate]

thank you tennessee gal i am not trying to be rude . but things just go up thats life fl is now just starting to catch up with every where else

[jbravo]

Originally Posted by Floridian to relocate

... we would like to sell but do not have to sell , so if someone was to buy our house they will never get a better deal than now . ..

Think you might be wrong on this one. This may be the best price YOU may get for MANY years to come.

[Floridian to relocate]

jbravo only time will tell . i have seen this happen in a few places before and hey have always gone back up past the prices they where when everyone thought they will still go down. now if you are in a place like mi , la, ms, that may not be true . but people will always move to fl it is peoples dream place . it will come back to a supply demand thing and fl will always be in demand . i do think condos will take a very long time to go up because of the price of them . you can still buy a very nice house 3 4 bedrooms pool for 300 400 k range which is what thet are trying to sell some condos at

[Need_affordable_home]

Originally Posted by Floridian to relocate

why lower need a h so people can buy a house they think that they have the right to own . the market is what it is this is the price you pay for the sunshine , like you say in all your other posts you are leaving fl for tx or the northeast . so please stop going on about the same thing . i am selling at the moment we have come down as far as we are going to if the house does not sell will just take it off the market wait till prices go back up then put in on for more money . we would like to sell but do not have to sell , so if someone was to buy our house they will never get a better deal than now . and that is the way for most people in fl except for condos

Originally Posted by jbravo

Think you might be wrong on this one. This may be the best price YOU may get for MANY years to come.

That person doesnt really care to sell or isnt in a hurry. The fact is people cant afford or arent willing to pay todays prices. jbravo has a good point, what makes you so sure youll get a better price anytime soon? Will you be in regret if it takes you 10 years to get what you want for your house? I am not going to tell you what to do, I only want to let you know the market isnt good and the experts arent expecting another house bubble for at least 20 years. There is no rebound. The bottom will be in early 2009 then prices will just stop dropping and stay flat and inflation will catch up, making houses cheaper because of that. Are you OK with that? Your choice, not mine.