Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Florida > Sarasota - Bradenton - Venice area
 [Register]
Sarasota - Bradenton - Venice area Manatee and Sarasota Counties
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 05-24-2013, 08:36 AM
 
Location: Florida
4,894 posts, read 14,135,913 times
Reputation: 2329

Advertisements

A friend of mine is currently looking for a 2/2 or 2/3. She will soon be evicted from her home as her landlord stopped paying the mortgage over two years ago while telling her otherwise. As she has begin her search to possibly buy a home, prices are up, the most economical homes have been bought cheap by investors and turned into rentals. Rental rates for the above mentioned properties have doubled & tripled. It is almost impossible for her to find a rental home below $1,400/month. Wow! What's really going on here?
Reply With Quote Quick reply to this message

 
Old 05-24-2013, 09:35 AM
 
1,581 posts, read 3,372,326 times
Reputation: 761
I'm glad we bought our home when we did two and a half years ago, if prices are going up like everyone says then for once our timing was perfect.
Reply With Quote Quick reply to this message
 
Old 05-24-2013, 11:19 AM
 
Location: Lakewood Ranch, FL
5,663 posts, read 10,737,453 times
Reputation: 6945
Quote:
Originally Posted by Ladywithafan View Post
A friend of mine is currently looking for a 2/2 or 2/3. She will soon be evicted from her home as her landlord stopped paying the mortgage over two years ago while telling her otherwise. As she has begin her search to possibly buy a home, prices are up, the most economical homes have been bought cheap by investors and turned into rentals. Rental rates for the above mentioned properties have doubled & tripled. It is almost impossible for her to find a rental home below $1,400/month. Wow! What's really going on here?
I don't keep a close watch on rentals but I am sure that rents have not increased like that. Of course, there may be some instances but not in a general way. Where is she looking?
Reply With Quote Quick reply to this message
 
Old 05-25-2013, 06:13 AM
 
Location: Florida
4,894 posts, read 14,135,913 times
Reputation: 2329
Quote:
Originally Posted by bbronston View Post
I don't keep a close watch on rentals but I am sure that rents have not increased like that. Of course, there may be some instances but not in a general way. Where is she looking?
She's currently renting west of Tuttle between 10th and 12th street. She was hoping to get a mortgage loan in place to purchase the home she's renting but from my understanding there's negotiation going on between the bank/another buyer & there's realtors involved. So, basically, they've given her, as a tenant, no consideration. Landlord hasn't given written eviction as of yet just verbal. She's got a Akita/chow mix dog, really would like three bedrooms, probably would go for two if necessary.
Reply With Quote Quick reply to this message
 
Old 05-25-2013, 07:47 AM
 
83 posts, read 264,538 times
Reputation: 97
As "they" say, timing is everything. Glad we decided to build when we did. According to what they are selling our same model of house and lot for now, we've gained over $80K in value since we built last year. Hoping the same happens up north when we get ready to sell up there. While we're definitely in the plus side up there but not nearly as high as its been. Still hope to walk away with $350K plus.
Reply With Quote Quick reply to this message
 
Old 05-27-2013, 08:01 AM
 
37,315 posts, read 59,839,259 times
Reputation: 25341
I am just glad that we were able to buy the house we did last May vs having it come on the market this May--
because I know the price would have been higher and buyers might have been willing to ignore the fact there was no pantry in the kitchen...
which seems to have been the major issue last year...
We did all negotiations via email with broker we found the year before and had our daughter do the initial visit/walk through and take extra photos and notes...

but price is still a factor--
home down the street from ours has been for sale (foreclosure or short sale) for a year or more--needs work and not selling...
price is obviously the reason...

house we bought had had major renovations/updates in past 4 yrs and was listed at basically same price per sq ft as those w/o those updates...
we got a good deal...and bought for few thousand under list price--I would have paid list frankly...maybe they thought they would get bidding war started and have multiple offers over list--but that didn't happen...1 other bid that offered little more but ours was cash...

shoppers a year ago were still trying to squeeze extra $$ out of the price I think
we were happy with the price and especially the location since it is next to our daughter and family...

our daughter bought her home 4-5 years ago and think they timed it very well as far as when the "bottom of the market" happened...
but they weren't fixed on buying at the "bottom" -- they just found house with what they were looking for at price they could afford and buyer who would take an FHA offer...
there were some problems after they bought--should have had better inspection done to negotiate stronger...but might not have done any good even then...
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Florida > Sarasota - Bradenton - Venice area
Similar Threads

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top