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Sarasota - Bradenton - Venice area Manatee and Sarasota Counties
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Old 09-01-2007, 08:52 PM
 
Location: Metrowest area of Massachusetts
575 posts, read 3,354,016 times
Reputation: 298

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Quote:
Originally Posted by Don2007 View Post
I sold my house on Avenue D in '00 for $80K. These are 50 yr old houses and the price was fair for a 2/2.
Now I live in Dallas-Fort Worth (Bedford, TX) in a 3/2 which I purchased 3 years ago for $120K. My annual income is $40K. The values here rise a modest 2-3% annually.
The North Texas economy is strong. Our airport (where I work) has 500 daily departures/arrivals. Although we don't have the fabulous Gulf Of Mexico nearby, it's not a struggle like living in Sarasota was.
I recently looked at a house for sale down the street listed at $150K, with pool and complete interior renovation.
The point I'm making is...prices are not in check in FL.
--------------------------------------
Those were the prices for a decent 3/2/2 pool home in the SW but 4 years ago. I remember when the resales shot up by well over 100% I was mortified and priced out.
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Old 09-01-2007, 09:17 PM
 
Location: Sarasota, FL.
65 posts, read 160,127 times
Reputation: 22
Well, the contact on my home expires on 9/4/07. I am going to take it off the market till "season" and then re-list sometime late October or early November at a lower price (not too much lower).
Thanks for everyone's input. It has been interesting..to say the least.......... I'll keep you posted.

Last edited by sandyrose749; 09-01-2007 at 09:45 PM..
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Old 09-02-2007, 02:32 PM
 
Location: Florida
2,209 posts, read 6,553,932 times
Reputation: 591
Quote:
Originally Posted by sandyrose749 View Post
O.K...Old Man Winter,
A few facts first. My house is prices at $175/sq. ft., the average in this area is $188/sq. ft. This is based on what sold and what is selling. The current crisis in the mortgage market is going to continue to have an impact upon real estate for many months to come..not to mention the property tax and homeowners' insurance messes. I feel this is the main reason homes in our area are not selling..not the price.
The MLS#343560- http://www.visualtour.com/shownp.asp?t=1176993&sk=24.FYI..I am not one of the "haves", in fact have to get dressed and go to work!
175 a foot is WAY too high.

When you price it closer to an asking price of 110-125./ft and plan on selling it closer to 100/ft you'll get activity
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Old 09-02-2007, 06:00 PM
 
960 posts, read 1,183,847 times
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Quote:
Originally Posted by MrTudo View Post
175 a foot is WAY too high.

When you price it closer to an asking price of 110-125./ft and plan on selling it closer to 100/ft you'll get activity
Completely agree that her price is way too high.

I do have a question....Should she price the $100-125/sq ft based on the living area (1737 sq ft) or the total area under roof (the 2657 sq ft quoted in the advertisement)?
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Old 09-02-2007, 07:04 PM
 
14,013 posts, read 27,557,166 times
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Quote:
Originally Posted by Carbondated View Post
Completely agree that her price is way too high.

I do have a question....Should she price the $100-125/sq ft based on the living area (1737 sq ft) or the total area under roof (the 2657 sq ft quoted in the advertisement)?
Real estate listings usually price per square foot including the lot - it's a strange way of pricing, IMO, since some lots are larger than others. I am assuming that is how her listing is priced. If not, and it's just the house, then I would have to agree with you that it is very overpriced. Perhaps she can clarify this for us.
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Old 09-02-2007, 09:00 PM
 
Location: Florida
2,209 posts, read 6,553,932 times
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Quote:
Originally Posted by Carbondated View Post
Completely agree that her price is way too high.

I do have a question....Should she price the $100-125/sq ft based on the living area (1737 sq ft) or the total area under roof (the 2657 sq ft quoted in the advertisement)?

Good question. We've looked at buying another house in the Navarre area. Half acre lot, 2800 sq ft under a/c and the asking prices range between 265K and 325K ( Holey by the Sea ). We decided we're no interested there as much as we are in XXXX XXXXXX. Waterfront, 2400 Sq Ft under a/c, 1/4 acre with a dock and boathouse, was listed for 299K and is now 259K which is still too high. Friend of mine has a brand new house in Port St Lucie, never been lived in, 3800 sq ft total, 3 car garage, 3,000 sq ft UNDER A/C and while it's listed higher I know he'd be happy to get 290K to get the albatross off his back. Selling our house here in Port Charlotte we're looking at getting "about" 100/foot which is considering the sq ftage under a/c and is blowing off all the renovations which includes new tile, roof, landscaping, fence, etc etc. The renovations are essentially meaningless in todays market.

That's 4 completely different parts of the state and you can see the similarities in price.

To think that one can get 70% more than that in Sarasota is not dealing in reality.
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Old 09-02-2007, 09:23 PM
 
Location: Sarasota, FL.
65 posts, read 160,127 times
Reputation: 22
Quote:
Originally Posted by Carbondated View Post
Completely agree that her price is way too high.

I do have a question....Should she price the $100-125/sq ft based on the living area (1737 sq ft) or the total area under roof (the 2657 sq ft quoted in the advertisement)?
The house is 1964 SqFt Liv Area: 1964 X $175.00=$ 343,700.00
Total Liv. Area: 2,657 (garage and lanai)
Lot size: 14505 SqFt
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Old 09-03-2007, 06:52 AM
 
960 posts, read 1,183,847 times
Reputation: 409
Quote:
Originally Posted by sandyrose749 View Post
The house is 1964 SqFt Liv Area: 1964 X $175.00=$ 343,700.00
Total Liv. Area: 2,657 (garage and lanai)
Lot size: 14505 SqFt
Thanks for clearing that up Sandy. I guess the county property appraiser has your living space square footage wrong by about 200 sq ft.

I read that you are going to hold off listing the house again until "season", which may work to your advantage. You are lucky that you have that option. A lot of people don't have that option. They have to sell their one and only house in order to relocate for jobs, family, etc. In your case, I'm assuming that you can live in that house for the next 20-30 years or as long as you want?
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Old 09-03-2007, 07:02 AM
 
458 posts, read 373,953 times
Reputation: 136
I think she is saying she will relist again in late Oct-Nov Carbondated. I assume she is under the opinion that this will be a better selling season.

It is a shame, people thought that last year. All that will happen in November is even more listings on the market, even more foreclosures, even more mortgage resets, even more rental units.

Your right about hoping she can stay there 20-30 years. I doubt that house will be worth $344,000 before then.
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Old 09-03-2007, 06:51 PM
 
Location: Sarasota, FL.
65 posts, read 160,127 times
Reputation: 22
[quote=Carbondated;1414565]Thanks for clearing that up Sandy. I guess the county property appraiser has your living space square footage wrong by about 200 sq ft.

Yes, it's been wrong ever since we bought the house, hope they don't find out now!

(I don't plan on being here (or anywhere) in 20 to 30 years!)

Yes, we are lucky we do not have to sell..just want to move out of state. Just like everyone else, we work hard for our money and I would like to have some left over for my really "old age"!
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