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 06-08-2016, 10:13 AM
 
20,956 posts, read 8,587,397 times
Reputation: 14048

Advertisements

Quote:
Originally Posted by upgrader View Post
Wow, such a really great post. I'd rep you again, but the rep clock hasn't run out.

All that belief in "establishing what the real price is", the market value, makes you sound like a mythical republican.

Sorry, I couldn't help bringing up politics. But since you gave such great advice, I figured you wouldn't mind getting an oddball complement.

And it's great that we potential buyers can see the purchase history of any home of interest.

This Internet thing seems to be working out
I helped invent this here internet thingy.....and as far as mythical republican, this social democrat doesn't fit that mold Ha Ha.....
But I have always been one of those social/liberal fiscal/conservative types anyway....and reality is reality despite what the "experts" say. The current fad of looking at everyone as "professionals" who are somehow smarter than you and I annoys me. Of course, when it comes to jet pilots and brain surgeons I do believe in the experts....but when it comes to the price of eggs, labor or real estate, I know as much as anyone.

But I imported high quality products from Denmark long ago so got to visit and know the real meaning of BOTH great industrial moxie and trade - along with a state based on human beings!

Sometimes I think the interweb isn't working out - other times I feel a bit better about it. What is going to happen when we all get too smart? Well.....I probably won't have to worry about that in the next decade or two!
Reply With Quote Quick reply to this message

 
Old 06-08-2016, 10:21 AM
 
20,956 posts, read 8,587,397 times
Reputation: 14048
Quote:
Originally Posted by kimmerthy View Post
We've been looking at the SF Gulf Coast and East MLS, for a couple of years now. I can definitely tell the prices are inflated, and waiting for the bubble to burst. I'm shocked at how many people are buying these houses at these inflated prices, esp when just last year some were $200k cheaper. I totally get supply and demand, but that doesn't seem to be the case here, and someone other than the "market" is controlling things here. Oh well, I feel bad for those people who are going to lose their asses on property, but again, they're probably the ones that swoop in with all cash and are OK, or don't care, if they lose any money. I certainly hope this is the case actually, not some other poor soul who will end up in foreclosure down the road.
I don't like the fact that we've noticed a change or "tampering" with of MLS Property History. There have been several properties we've had our eyes on, for either purchase, or just to see what the property actually goes for, and being able to view the past Property History before, we are not able to now, in the last couple of months, previous listed and sold prices have been removed, showing N/A, or just not there. Many properties have been listed and delisted over the years, but we've seen many that we know we saw the previous listed prices (and remember the previous price) are no longer there. It is all very sketchy to me. I guess the key is to find a real estate agent you trust, and who is looking out for you, not their own pocket. (Sorry for the rambling )
Well, our system is naturally "predatory" in that someone born with a lower IQ or who is older and has lost some cognition is free to get taken to the cleaners.

The old saying about an "arse for every seat" applies to the "one buyer theory". That is, it is just possible to find one buyer who might pay 100K too much for a particular property - BUT, the market may contain 12 such properties. Of course, once a seller/agent take the one person for the extra 100K, that becomes the reason why everyone else should pay it. But in reality that's not true. We can look at eBay for the proof - one item may sell for a high price because the buyer needs it now, but another copy of the same item a few weeks later might sell for 30% less because the seller needs to get rid of it quickly.

In one sense the tendency in some markets to price a home super-low and then have an open house or two and have the potential buyers bid it up from the asking....actually ends up with the most fair price...ala eBay.

Another factor is that a lot of sellers are not really smart about what the carrying costs are - so they often hang on without understand the downsides. Getting 20K more a year later may often be a loss - let alone the chance they take of major repairs, etc.
Reply With Quote Quick reply to this message
 
Old 06-08-2016, 03:00 PM
 
Location: IL
147 posts, read 172,849 times
Reputation: 114
No, it's not the actual MLS, just two popular real estate apps we use daily. But thankfully our real estate agent gave us an awesome website to look up addresses to see their past history, lot size, anything that may be missing from those apps we use. Would still think someone could request info to be taken off these popular apps if they wanted. Not everyone hounds around like my husband and I do, so we're not missing those stats by any means, we can see them. Still a little shady, but again, I'm sure they were removed by accident, or something.
Reply With Quote Quick reply to this message
 
Old 06-08-2016, 03:28 PM
 
Location: Lakewood Ranch, FL
5,663 posts, read 10,684,629 times
Reputation: 6944
I imagine you are talking about Zillow, Trulia or Realtor.com but there are so many that I guess it could be many others. I don't know if that info can be manipulated or not. It's kind of a shame, though, that if it's true, people think they are looking at info as reliable as the "real MLS" when they look at those other websites.

Just curious but what website did your agent recommend?
Reply With Quote Quick reply to this message
 
Old 06-09-2016, 09:01 AM
 
12 posts, read 16,478 times
Reputation: 34
Quote:
Originally Posted by vicarjoe View Post
I countered back half way and they accepted. Hope it all goes through. From what I am told they are making a decision on cash or mortgage. So it seems they can do cash if they want and they want the unit as a rental investment.


Well that's good for you ! you asked what is likely to happen to the real estate market around here, so I guess you're pleased no matter which way it goes, but all reasonable assessments seem to indicate that the overall market is over-priced on the housing side. The commercial expansion seems to be expanding but whether that shall be followed up by strong leases remains to be seen I guess. Companies like Benderson are still erecting more and more retail/commercial space even in the face of an awful retail environment performance with such companies as JCP, Sears/Kmart, Kohl's and many many others. It's really strange to see the boom in building retail/office space with wages being flat and lower margins. Even Walmart is closing stores
Reply With Quote Quick reply to this message
 
Old 06-09-2016, 09:06 AM
 
34 posts, read 42,041 times
Reputation: 29
Quote:
Originally Posted by Zach Ashton View Post
Hit the bid. We're in a bubble and you're seeing new houses repriced right now, and will adjust more later this summer. Most of this stuff has been over-priced anyway.


Un-related but an interesting read today in the WSJ about used car prices falling, and the bubble in even car loans that are being securitized - that market is in a sub prime bubble too.


Job growth report today, and the revisions...job growth is anemic and bs jobs (part time, etc). The economy is unhealthy.


Cash is king. Sell the damn thing. This market has been over-heated too quickly and price compression has already started. Correction is coming big time probably in another 60 days. Condos are condos, but the SF market is at least 20 percent overpriced.
What is SF?
Reply With Quote Quick reply to this message
 
Old 06-09-2016, 09:54 AM
 
Location: Northern CA
38 posts, read 84,127 times
Reputation: 58
Quote:
Originally Posted by London_to_MD View Post
What is SF?
Single Family
Reply With Quote Quick reply to this message
 
Old 06-09-2016, 04:37 PM
 
Location: Fort Lauderdale, Florida
11,936 posts, read 13,018,815 times
Reputation: 27076
Quote:
Originally Posted by craigiri View Post
Just as an aside, my dad got quite wealthy in Real Estate by having understanding agents who would present his ridiculous lowball offers (often 30-40% below asking price)....

Guess what? He ended up buying a lot of the stuff and the sellers were happy!

The market price, IMHO, is what a property could sell and settle for in 60-120 days - to multiple buyers...meaning if one falls through, there is another waiting since the property is at market value.

I'm sure lots of realtors told people their stuff was worth 2 and 3X the price it is now.....back in 2005-2007.

Those lowball bids are all part of establishing what the real price is.

If a property owner is stubborn and insisting on getting 300K (example), then one or two offers of 200K or 225K could make them start thinking about the real value.

It's always interesting when I see some prices consider lowball - since they are only 30% higher than the person paid for their house 5 or 6 years ago! It's as if people assume Real Estate always goes up...haven't learned yet despite trillions in equity going down the toilet recently.
You are missing my point completely.

The South Florida and hot resort property market are different animals.

Here, almost half of all deals are cash so cash is not king.

People come in from other markets and think our market works like ours and it isn't like that.

75% of the $250K and under market is cash.

Secondly, by law I have to present ALL offers to the buyers. I don't get to pick and choose what I present.

Yes, I understand how that whole market price thing works.

Reply With Quote Quick reply to this message
 
Old 06-09-2016, 06:21 PM
 
Location: Sarasota, Fl
809 posts, read 740,723 times
Reputation: 643
Quote:
Originally Posted by blueherons View Post
Secondly, by law I have to present ALL offers to the buyers. I don't get to pick and choose what I present.
Is that present all offers thing true? As a buyer I'd like to know. Then again the "by law I have to present ALL offers to the buyers" thing makes me question the posters intelligence.

To be specific about my question, why would law require ALL offers be presented to the buyers? OK, maybe the poster meant "ALL offers by the buyers to the seller".

Clarification?
Reply With Quote Quick reply to this message
 
Old 06-09-2016, 07:23 PM
 
Location: Lakewood Ranch, FL
5,663 posts, read 10,684,629 times
Reputation: 6944
Quote:
Originally Posted by upgrader View Post
Is that present all offers thing true? As a buyer I'd like to know. Then again the "by law I have to present ALL offers to the buyers" thing makes me question the posters intelligence.

To be specific about my question, why would law require ALL offers be presented to the buyers? OK, maybe the poster meant "ALL offers by the buyers to the seller".

Clarification?
If an offer to purchase is made by a buyer or an agent, the listing agent must present it to the seller unless the seller has given written direction otherwise. A listing agent cannot decide, on his/her own, that an offer isn't good enough, or worse, that they will only present offers that come from their own buyers.
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