Real Estate Market

[sunstate]

I have been keeping track of this post with interest because, I too have my home for sell. I am in Longwood and want to move to the Carolina's to be close to family. I had an appraisal done and have the home listed well under that figure. I have reduced the price twice but no buyer so far. I have had a lot of traffic but realtors are bringing people who have only been pre-approved for $200k. My home is listed at $229k (which is already 15k under appraisal). It is interesting that realtors are showing their clients homes that are so far above what they have been approved for. I think realtors have a hand in the downturn of the market.

[Grace2112]

It took us a year to sell our 1200 SF house in St. Cloud. Four contracts, but the buyer's financing always fell through. Finally sold a month ago. We offered a 4% co-broke to the buyer's realtor. The idea is to get the realtor to show your house to their clients.

[Magnulus]

If you must sell your house now, be prepared to significantly "under value" your house. Orlando is in a huge housing market bubble on the downturn My folks bought their house in 1995 for 185,000 dollars. Today it is appraised at 400,000 dollars. I can tell you there's no way that house would sell at anything more than 300,000, if not lower.

[DadofTwo]

Well, we are priced well below the current appraisal which i know doesn't mean too much but still we do have a bottom price that we do not want to go under and we are priced competitively with the homes around us. So now we will be patient and see. We know that recent alse in our range take about 100 days.We may offer an agent bonus or buyers incentive to see if that helps. The good news is that a house around the corner just sold and two are pending. bye bye competition.

[Jammie]

Originally Posted by sunstate

I have been keeping track of this post with interest because, I too have my home for sell. I am in Longwood and want to move to the Carolina's to be close to family. I had an appraisal done and have the home listed well under that figure. I have reduced the price twice but no buyer so far. I have had a lot of traffic but realtors are bringing people who have only been pre-approved for $200k. My home is listed at $229k (which is already 15k under appraisal). It is interesting that realtors are showing their clients homes that are so far above what they have been approved for. I think realtors have a hand in the downturn of the market.

Do you think so? IMHO they don't want lower prices cause it cuts deeply into their commissions. I think they're just trying to get a few houses sold and there's just such little buying going on right now. There are articles all over the nation that are talking about the falling real estate prices and the high cost of insurances in Fla.

If someone is a prospective buyer, they aren't going to pay the prices that are still being asked for homes. They see the charts of the falling market and are fearful their home won't have the same value in a year from now. It's unfortunate for those who are selling their homes and HAVE to get a certain price just to break even. And since it doesn't appear that much help came out of Tallahassee concerning insurances and taxes, it is a very big deterrent for buyers.

[Dee2e]

As a Realtor, I can agree with Jammie. DadofTwo, I'm in Longwood two in a subdivision where houses never stay on the market long at all but there are now 6 for sale!

As a Realtor, if I work with a preapproved buyer that is solid, I look about $10 higher and look at homes on the market for awhile since those with a higher time on market are motivated. Very often, Realtors get pushed to overprice a home since the seller, not the Realtor, sets the price. Personally, I've been walking from those types of sellers because there are just two many houses to choose from. Overpriced homes won't sell.

Good luck.

As far as your home, email me the MLS number. I have a few people looking in that price range. No Realtor should be soliciting you as long as your home is listed. You can report them for that since it's a violation of the NAR Ethics Code.

[DadofTwo]

thanks for the continued input. we are staying positive and know that there is the right buyer for house. they just haven't found us, but we are trying find them!