10-25-2008, 07:33 PM
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We've been looking at homes in Heathrow the past 2-3 months. Prices are all over the place.
One home we looked at originally was priced at 730K. Originally this home was purchased for 545K in 2002 and than resold in 2004 for 725K. Now a relocation company brought it over for ????...couldn't ever get the price revealed. So I know the owners took a loss along with the relocation company. But the home finally sold for 640K last month.
Now I'm looking at a home that was purchased for 500K back in 2002 so I know the owners have room to wiggle. The original owners had originally priced it at 700K and now lowered down to about 650K. This second home does not have the same upgraded options as the first home we were interested in that eventually sold for 640K last month.
Both of these homes are in the same neighborhood. Built at the same time by the same builder.
Considering the financial mess this economy is in (especially since the end of September beginning with the Lehman Brothers/AIG/Wash Mutual mess) and that Central FL has a higher than average unemployment.
What would this home that's currently priced at 650K really worth? The people who own this home have moved out already. I'm going to put 20% down. Have more than enough income and not really concerned about getting a mortgage.
10-26-2008, 07:46 AM
Location: Asheville, NC
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Reputation: 5420
The thing with Heathrow is that it is considered an upscale community. Therefore, you pay more to live there. I think that's why ppl expect to get more for their homes. Honestly, I've been in Heathrow before and I don't think it's any different than any other S/D like Timacuan. They are average homes, maybe some upgrades, that look like average homes on a 0 lot line. Granted, they do keep it spotless and I know ppl like to live there for the golf course and amenities. That maybe a difference of $350K in Timacuan and $650K in Heathrow for the same house. I guess it's all about where you like to live. I would just offer what you think it's worth. If they don't accept youre offer, move on. In this market, there is so much inventory to chose from. It's a buyer's market.
10-26-2008, 01:58 PM
Location: Orlando FL
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I couldn't agree more with alot of the things Beckycat said.
It seems you've done your research about recent home sales...though have you found more than just the one sales comparable from a relocation company? the more comparables you can find the better an idea you will have about what YOU beleive it to be worth, because at the end of the day that's what matters most. If your wondering why the owners of the house your looking at priced it where it's priced, you'd have to ask them and/or their agent for the reasoning, it could be a myriad of things, but since you said a comp was at 640K and they are asking 650K it at least seems they are in the ball park and may be willing to come down, what does your agent say about the probable value? An asking price is just that, what they are asking, it shouldn't have much of an affect on what your willing to offer.
If you were hoping we can tell you what the home is worth based on your sales figures going back to 2002, there is no way to help. Sales don't go by years, they go by what it's worth now compared to other comparable RECENT sales, especially since the last month or two's developments, make sure they are VERY recent or adjust for the age of the sale. Valuing a property requires skill and diligence, sorry I can't help you put a price on it over the internet. I'm shameless and have and will continue to use the recent month's happenings to negotiate hard for my clients, the psychology works both ways and can be helpful in persuading a seller their price may be too high.
Last edited by GregTraub; 10-26-2008 at 02:15 PM ..
10-26-2008, 06:30 PM
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Quote:
Originally Posted by
aneftp
Now I'm looking at a home that was purchased for 500K back in 2002 so I know the owners have room to wiggle. The original owners had originally priced it at 700K and now lowered down to about 650K. This second home does not have the same upgraded options as the first home we were interested in that eventually sold for 640K last month.
As far as wiggle room, they may have refinanced in 2005 and got all the money
out...
Get professional help...either a competent Realtor or Appraiser.
10-27-2008, 06:43 PM
Location: Championsgate, Fl
986 posts, read
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Reputation: 291
The best piece of advice i can give you is essentially a property is only worth what you are willing to pay for it. What you think a property is worth wont be what someone else thinks a property is worth. Everyone wants a great deal and that is alot of what our jobs as realtors are, getting deals for our clients. As an example Celebration is another community where the taxes are double if not more than other comparable areas and the homes are double the price aswell. Is it worth it. With a cold clinical eye and as someone whose family owns property there i would have to say not really. From an outsiders point of view who are Disney mad and want to live in the town Disney built then they may be happy to pay the extra price.
You need to decide what your budget is, and make an offer based on that and what you feel the property is worth. If the seller doesnt agree then they will reject and you can ever negotiate or move on, as was said earlier there is plenty of inventory.
The only thing as was also mentioned is of course you need an excellent realtor but also find out what other services they offer. For example, my wife is a title agent, and i offer her services to my clients aswell free of charge. It allows me to provide a fuller and more rounded service to my clients because there are times when my mls system wont show me the previous resale prices, but because she is a title agent she can pull up all this info extremely quickly for my clients.
Also keep in mind unless you are getting a VA or FHA mortgage, 20% down is pretty much the minimum you would need to do. The days of that looking attractive as opposed a 100% financing are long gone now. Also if you havent make sure you get pre approved for a mortgage. I cant tell you how many times in my experience i have had clients who i have recommended getting this and putting an aggressive offer in and it gets accepted. An offer with a pre approval letter holds more weight and is more attractive than and offer with no pre approval letter.
Good luck
Last edited by cfIfan; 10-27-2008 at 07:00 PM ..
11-06-2008, 08:30 AM
Location: FLORIDA
1 posts, read
3,253 times
Reputation: 10
I agree with the last post and could nothave said it better myself.
"The best piece of advice i can give you is essentially a property is only worth what you are willing to pay for it."
I am not sure which neighborhood you are looking at in Heathrow but we have a home that is in Wembley Park that we are selling for $465,000. Below is the link that will take you straight to the property details.
[url=http://www.evenyoucanownahome.com/property.cfm?property_id=22976]HP Investment Group, Inc.[/url]
Good luck and just make sure you always do your due diligence. With the market today, you have to constantly keep checking values because they change monthly.
11-06-2008, 03:14 PM
91 posts, read
334,513 times
Reputation: 48
Quote:
Originally Posted by
cfIfan
The only thing as was also mentioned is of course you need an excellent realtor but also find out what other services they offer. For example, my wife is a title agent, and i offer her services to my clients aswell free of charge. It allows me to provide a fuller and more rounded service to my clients because there are times when my mls system wont show me the previous resale prices, but because she is a title agent she can pull up all this info extremely quickly for my clients.
Excellent point! MLS is a great tool, but does not show "For sale by owner" data. Unless, the Agent subscribes to a different data source, he or she does not have all the information.
11-08-2008, 12:44 PM
Location: Orlando
8,276 posts, read
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Reputation: 4142
There are prices across the board in most of the SD's in Lake Mary. as size, and features change, newness, and lot size so will the price. Some homes in Heathrow are great deals, some not so in comparison.
Heathrow has some of the older homes, compared to Magnolia Plantation. generally one bases value off of what you can get for the same money. If you can buy a larger home with a pool for the same money then it is a clue you are not getting the best deal, but there may be other reasons for that, condition, location, views and such. each house should be looked at individually. I tend to evaluate them in comparison to determine how low we can get it for. Short sales confuse the process but if you have patience you can get a great deal.
Talk to one of us agents unless they have admin fees it costs nothign to utilize us and generally we can get you a better deal. Thats's my 2 cents...lol good luck.
ken
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People in Group quarters - Short-term care, detention or diagnostic centers for delinquent children (%)
People in Group quarters - Type of juvenile institution unknown (%)
People in Group quarters - Noninstitutionalized population (%)
People in Group quarters - College dormitories (includes college quarters off campus) (%)
People in Group quarters - Military quarters (%)
People in Group quarters - On base (%)
People in Group quarters - Barracks, unaccompanied personnel housing (UPH), (Enlisted/Officer), ;and similar group living quarters for military personnel (%)
People in Group quarters - Transient quarters for temporary residents (%)
People in Group quarters - Military ships (%)
People in Group quarters - Group homes (%)
People in Group quarters - Homes or halfway houses for drug/alcohol abuse (%)
People in Group quarters - Homes for the mentally ill (%)
People in Group quarters - Homes for the mentally retarded (%)
People in Group quarters - Homes for the physically handicapped (%)
People in Group quarters - Other group homes (%)
People in Group quarters - Religious group quarters (%)
People in Group quarters - Dormitories (%)
People in Group quarters - Agriculture workers' dormitories on farms (%)
People in Group quarters - Job Corps and vocational training facilities (%)
People in Group quarters - Other workers' dormitories (%)
People in Group quarters - Crews of maritime vessels (%)
People in Group quarters - Other nonhousehold living situations (%)
People in Group quarters - Other noninstitutional group quarters (%)
Residents speaking English at home (%)
Residents speaking English at home - Born in the United States (%)
Residents speaking English at home - Native, born elsewhere (%)
Residents speaking English at home - Foreign born (%)
Residents speaking Spanish at home (%)
Residents speaking Spanish at home - Born in the United States (%)
Residents speaking Spanish at home - Native, born elsewhere (%)
Residents speaking Spanish at home - Foreign born (%)
Residents speaking other language at home (%)
Residents speaking other language at home - Born in the United States (%)
Residents speaking other language at home - Native, born elsewhere (%)
Residents speaking other language at home - Foreign born (%)
Class of Workers - Employee of private company (%)
Class of Workers - Self-employed in own incorporated business (%)
Class of Workers - Private not-for-profit wage and salary workers (%)
Class of Workers - Local government workers (%)
Class of Workers - State government workers (%)
Class of Workers - Federal government workers (%)
Class of Workers - Self-employed workers in own not incorporated business and Unpaid family workers (%)
House heating fuel used in houses and condos - Utility gas (%)
House heating fuel used in houses and condos - Bottled, tank, or LP gas (%)
House heating fuel used in houses and condos - Electricity (%)
House heating fuel used in houses and condos - Fuel oil, kerosene, etc. (%)
House heating fuel used in houses and condos - Coal or coke (%)
House heating fuel used in houses and condos - Wood (%)
House heating fuel used in houses and condos - Solar energy (%)
House heating fuel used in houses and condos - Other fuel (%)
House heating fuel used in houses and condos - No fuel used (%)
House heating fuel used in apartments - Utility gas (%)
House heating fuel used in apartments - Bottled, tank, or LP gas (%)
House heating fuel used in apartments - Electricity (%)
House heating fuel used in apartments - Fuel oil, kerosene, etc. (%)
House heating fuel used in apartments - Coal or coke (%)
House heating fuel used in apartments - Wood (%)
House heating fuel used in apartments - Solar energy (%)
House heating fuel used in apartments - Other fuel (%)
House heating fuel used in apartments - No fuel used (%)
Armed forces status - In Armed Forces (%)
Armed forces status - Civilian (%)
Armed forces status - Civilian - Veteran (%)
Armed forces status - Civilian - Nonveteran (%)
Fatal accidents locations in years 2005-2021
Fatal accidents locations in 2005
Fatal accidents locations in 2006
Fatal accidents locations in 2007
Fatal accidents locations in 2008
Fatal accidents locations in 2009
Fatal accidents locations in 2010
Fatal accidents locations in 2011
Fatal accidents locations in 2012
Fatal accidents locations in 2013
Fatal accidents locations in 2014
Fatal accidents locations in 2015
Fatal accidents locations in 2016
Fatal accidents locations in 2017
Fatal accidents locations in 2018
Fatal accidents locations in 2019
Fatal accidents locations in 2020
Fatal accidents locations in 2021
Alcohol use - People drinking some alcohol every month (%)
Alcohol use - People not drinking at all (%)
Alcohol use - Average days/month drinking alcohol
Alcohol use - Average drinks/week
Alcohol use - Average days/year people drink much
Audiometry - Average condition of hearing (%)
Audiometry - People that can hear a whisper from across a quiet room (%)
Audiometry - People that can hear normal voice from across a quiet room (%)
Audiometry - Ears ringing, roaring, buzzing (%)
Audiometry - Had a job exposure to loud noise (%)
Audiometry - Had off-work exposure to loud noise (%)
Blood Pressure & Cholesterol - Has high blood pressure (%)
Blood Pressure & Cholesterol - Checking blood pressure at home (%)
Blood Pressure & Cholesterol - Frequently checking blood cholesterol (%)
Blood Pressure & Cholesterol - Has high cholesterol level (%)
Consumer Behavior - Money monthly spent on food at supermarket/grocery store
Consumer Behavior - Money monthly spent on food at other stores
Consumer Behavior - Money monthly spent on eating out
Consumer Behavior - Money monthly spent on carryout/delivered foods
Consumer Behavior - Income spent on food at supermarket/grocery store (%)
Consumer Behavior - Income spent on food at other stores (%)
Consumer Behavior - Income spent on eating out (%)
Consumer Behavior - Income spent on carryout/delivered foods (%)
Current Health Status - General health condition (%)
Current Health Status - Blood donors (%)
Current Health Status - Has blood ever tested for HIV virus (%)
Current Health Status - Left-handed people (%)
Dermatology - People using sunscreen (%)
Diabetes - Diabetics (%)
Diabetes - Had a blood test for high blood sugar (%)
Diabetes - People taking insulin (%)
Diet Behavior & Nutrition - Diet health (%)
Diet Behavior & Nutrition - Milk product consumption (# of products/month)
Diet Behavior & Nutrition - Meals not home prepared (#/week)
Diet Behavior & Nutrition - Meals from fast food or pizza place (#/week)
Diet Behavior & Nutrition - Ready-to-eat foods (#/month)
Diet Behavior & Nutrition - Frozen meals/pizza (#/month)
Drug Use - People that ever used marijuana or hashish (%)
Drug Use - Ever used hard drugs (%)
Drug Use - Ever used any form of cocaine (%)
Drug Use - Ever used heroin (%)
Drug Use - Ever used methamphetamine (%)
Health Insurance - People covered by health insurance (%)
Kidney Conditions-Urology - Avg. # of times urinating at night
Medical Conditions - People with asthma (%)
Medical Conditions - People with anemia (%)
Medical Conditions - People with psoriasis (%)
Medical Conditions - People with overweight (%)
Medical Conditions - Elderly people having difficulties in thinking or remembering (%)
Medical Conditions - People who ever received blood transfusion (%)
Medical Conditions - People having trouble seeing even with glass/contacts (%)
Medical Conditions - People with arthritis (%)
Medical Conditions - People with gout (%)
Medical Conditions - People with congestive heart failure (%)
Medical Conditions - People with coronary heart disease (%)
Medical Conditions - People with angina pectoris (%)
Medical Conditions - People who ever had heart attack (%)
Medical Conditions - People who ever had stroke (%)
Medical Conditions - People with emphysema (%)
Medical Conditions - People with thyroid problem (%)
Medical Conditions - People with chronic bronchitis (%)
Medical Conditions - People with any liver condition (%)
Medical Conditions - People who ever had cancer or malignancy (%)
Mental Health - People who have little interest in doing things (%)
Mental Health - People feeling down, depressed, or hopeless (%)
Mental Health - People who have trouble sleeping or sleeping too much (%)
Mental Health - People feeling tired or having little energy (%)
Mental Health - People with poor appetite or overeating (%)
Mental Health - People feeling bad about themself (%)
Mental Health - People who have trouble concentrating on things (%)
Mental Health - People moving or speaking slowly or too fast (%)
Mental Health - People having thoughts they would be better off dead (%)
Oral Health - Average years since last visit a dentist
Oral Health - People embarrassed because of mouth (%)
Oral Health - People with gum disease (%)
Oral Health - General health of teeth and gums (%)
Oral Health - Average days a week using dental floss/device
Oral Health - Average days a week using mouthwash for dental problem
Oral Health - Average number of teeth
Pesticide Use - Households using pesticides to control insects (%)
Pesticide Use - Households using pesticides to kill weeds (%)
Physical Activity - People doing vigorous-intensity work activities (%)
Physical Activity - People doing moderate-intensity work activities (%)
Physical Activity - People walking or bicycling (%)
Physical Activity - People doing vigorous-intensity recreational activities (%)
Physical Activity - People doing moderate-intensity recreational activities (%)
Physical Activity - Average hours a day doing sedentary activities
Physical Activity - Average hours a day watching TV or videos
Physical Activity - Average hours a day using computer
Physical Functioning - People having limitations keeping them from working (%)
Physical Functioning - People limited in amount of work they can do (%)
Physical Functioning - People that need special equipment to walk (%)
Physical Functioning - People experiencing confusion/memory problems (%)
Physical Functioning - People requiring special healthcare equipment (%)
Prescription Medications - Average number of prescription medicines taking
Preventive Aspirin Use - Adults 40+ taking low-dose aspirin (%)
Reproductive Health - Vaginal deliveries (%)
Reproductive Health - Cesarean deliveries (%)
Reproductive Health - Deliveries resulted in a live birth (%)
Reproductive Health - Pregnancies resulted in a delivery (%)
Reproductive Health - Women breastfeeding newborns (%)
Reproductive Health - Women that had a hysterectomy (%)
Reproductive Health - Women that had both ovaries removed (%)
Reproductive Health - Women that have ever taken birth control pills (%)
Reproductive Health - Women taking birth control pills (%)
Reproductive Health - Women that have ever used Depo-Provera or injectables (%)
Reproductive Health - Women that have ever used female hormones (%)
Sexual Behavior - People 18+ that ever had sex (vaginal, anal, or oral) (%)
Sexual Behavior - Males 18+ that ever had vaginal sex with a woman (%)
Sexual Behavior - Males 18+ that ever performed oral sex on a woman (%)
Sexual Behavior - Males 18+ that ever had anal sex with a woman (%)
Sexual Behavior - Males 18+ that ever had any sex with a man (%)
Sexual Behavior - Females 18+ that ever had vaginal sex with a man (%)
Sexual Behavior - Females 18+ that ever performed oral sex on a man (%)
Sexual Behavior - Females 18+ that ever had anal sex with a man (%)
Sexual Behavior - Females 18+ that ever had any kind of sex with a woman (%)
Sexual Behavior - Average age people first had sex
Sexual Behavior - Average number of female sex partners in lifetime (males 18+)
Sexual Behavior - Average number of female vaginal sex partners in lifetime (males 18+)
Sexual Behavior - Average age people first performed oral sex on a woman (18+)
Sexual Behavior - Average number of woman performed oral sex on in lifetime (18+)
Sexual Behavior - Average number of male sex partners in lifetime (males 18+)
Sexual Behavior - Average number of male anal sex partners in lifetime (males 18+)
Sexual Behavior - Average age people first performed oral sex on a man (18+)
Sexual Behavior - Average number of male oral sex partners in lifetime (18+)
Sexual Behavior - People using protection when performing oral sex (%)
Sexual Behavior - Average number of times people have vaginal or anal sex a year
Sexual Behavior - People having sex without condom (%)
Sexual Behavior - Average number of male sex partners in lifetime (females 18+)
Sexual Behavior - Average number of male vaginal sex partners in lifetime (females 18+)
Sexual Behavior - Average number of female sex partners in lifetime (females 18+)
Sexual Behavior - Circumcised males 18+ (%)
Sleep Disorders - Average hours sleeping at night
Sleep Disorders - People that has trouble sleeping (%)
Smoking-Cigarette Use - People smoking cigarettes (%)
Taste & Smell - People 40+ having problems with smell (%)
Taste & Smell - People 40+ having problems with taste (%)
Taste & Smell - People 40+ that ever had wisdom teeth removed (%)
Taste & Smell - People 40+ that ever had tonsils teeth removed (%)
Taste & Smell - People 40+ that ever had a loss of consciousness because of a head injury (%)
Taste & Smell - People 40+ that ever had a broken nose or other serious injury to face or skull (%)
Taste & Smell - People 40+ that ever had two or more sinus infections (%)
Weight - Average height (inches)
Weight - Average weight (pounds)
Weight - Average BMI
Weight - People that are obese (%)
Weight - People that ever were obese (%)
Weight - People trying to lose weight (%)