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Sarasota - Bradenton - Venice area Manatee and Sarasota Counties
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Old 04-05-2008, 09:49 AM
 
58 posts, read 153,453 times
Reputation: 31

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According to bankrate every home in foreclosure affects its neighbor by lowering value of neighbors house by .09%.
So if 3 homes on a block are in foreclosure that takes almost 30% value off of the neighbors home who is not in foreclosure and wants to sell.
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Old 04-09-2008, 09:16 AM
 
20,283 posts, read 40,634,890 times
Reputation: 9675
JAY2000
I don't know if you bought a bad deal or have been looking at homes or what but prices aren't going back to what they were in the 50s--there is too much general inflation for that to happen on new construction--for older home--well--the market sets the price--people won't buy what they think is overpriced--and people can't buy w/o better credit/money situation than existed during the sub-prime boom days...

there is lack of well-paying jobs in the Sarasota area for middle class homes--true--even lower priced homes--especially when you add in the rising cost of insurance and utilities--so homes--some of them are probably overpriced--but I think you diatrabe about construction costs is just not very knowledgeable--based on wishful thinking rather than the real economics and facts of building...at least a house that anyone would want to buy--
even making it out of stuff you recycled from the dump you would probably pay more than that...
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Old 04-10-2008, 11:00 AM
 
58 posts, read 153,453 times
Reputation: 31
The price of material and labor for home construction has not gone up in 30 years. That is according to price inflation index. A simple tour of menards will show same.
Anyway, the truth offends people who overpaid and overcharge, so heres a new view, paulsen will bail out the 23 billion in bad mortgage loans, done, see chase and bear sterns, the realtors will sweep everything under the rug and smile, home prices will continue to drop as demographics change, more housing units are available then population needs.
Affordable, under 100,000 and 150,000 housing will see a brisk market as 55% of market is poor and needs and buys and sells affordable low cost housing only, little green houses on mediterranean ave are cool.
Taxes will lower to reflect housing price drops, hoa's will lower to avoid mismanagement misappropriation and deriliction lawsuits, gougers who overchage for land rental will be open to illegal price gouging lawsuits, inflated price sellers will lose and affordably priced sellers will always have a market and affordable rents will win.
I have had no bad deals, I watch and see the markets.
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