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Old 07-18-2016, 04:45 PM
 
Location: Central Mexico and Central Florida
7,091 posts, read 3,438,402 times
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Quote:
Originally Posted by EngGirl View Post

And wake up people, cash buyers are pretty much gone. You know mortgage records are a part of public records, right? You can look up anyone who bought a house and see if they got mortgage and for how much (so you know how much down payment people made). I would say most home sales in price range over 200K are with mortgage. And I am as a seller will not sell my home cheaper to cash buyer if I can get more money from someone coming with the mortgage. No difference for me really.
Wrong....in most sales involving financing, the seller will usually end up paying some points on behalf of buyer. While that's not required, it's pretty customary.

 
Old 07-18-2016, 04:52 PM
 
Location: Beautiful Pinellas County
1,404 posts, read 2,500,381 times
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There are still a lot of cash buyers here in Pinellas. Less in the mid range family home market, between 200-350s, but once you hit over that, there are quite a few cash buyers particularly at the beaches.
 
Old 07-18-2016, 05:11 PM
 
315 posts, read 222,144 times
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Quote:
Originally Posted by ralphkaz View Post
How are the schools in New Tampa area? I'm currently only looking at properties around Sickles & Steinbrenner HS's as those are supposed to be best in the area...
We don't have any children in school here so I can't comment on the overall quality of the schools here though there are loads of young families who reside here send their children to these schools. Perhaps someone else who is better informed can respond to your question.

I did find this link which may offer some guidance:

4 Tampa Neighborhoods With the Best Schools | Renting Tips & Advice from Apartments.com
 
Old 07-18-2016, 05:19 PM
 
1,422 posts, read 1,486,443 times
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Quote:
Originally Posted by lavender View Post
There are still a lot of cash buyers here in Pinellas. Less in the mid range family home market, between 200-350s, but once you hit over that, there are quite a few cash buyers particularly at the beaches.
How interesting. Why is that or is that how it is in general?
 
Old 07-18-2016, 05:30 PM
 
131 posts, read 107,536 times
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Quote:
Originally Posted by ralphkaz View Post
Wow, that's close to 50% cash buyers; crazy!
More than likely purchased by speculators than by residents. Asset Management companies have made large investments in the Bay area.
 
Old 07-18-2016, 06:19 PM
 
25,834 posts, read 39,048,087 times
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Quote:
Originally Posted by dothetwist View Post
Wrong....in most sales involving financing, the seller will usually end up paying some points on behalf of buyer. While that's not required, it's pretty customary.
I'm glad to learn more as any new day is a day I can learn at least one or two new things... I guess today what you wrote is the new thing for me as I haven't seen any deal where the seller is paying for points on behalf of any buyer!

We do see buyers ask for paying towards closing costs but not asking for payment for points.
 
Old 07-18-2016, 06:55 PM
 
Location: Westchester County, NY -> Pinellas County, FL -> Dutchess County, NY -> Denver?
348 posts, read 356,705 times
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Quote:
Originally Posted by EngGirl View Post
There was a house I was monitoring at Seven Oaks in Wesley Chapel that was sitting on the market at the end of last year with no interest, and just recently sold for asking price. I don't think prices went up, I think it was bed timing. Houses that are more suitable for families with kids are sold better during off school or close to the end of school year season. For the last few years I noticed October - February were the slowest months.


In your case you might be right and it's really an increase, but I noticed house prices are seasonable.


$350K with 20% down is under $1300 per month in mortgage. With rent prices being so high in certain areas no wonder people buy $350K houses.
We also go with 20% down and 20 year mortgage so we had a lot of equity upon purchase. Our buyer put 10% down which seems to be incredibly low and their insurance is twice what we paid. I think a 30 year mortgage is a bad deal. People getting fixated on pricing in FL but forget about sinkholes, high insurance, flooding, low elevation, termites prevention (most don't care) etc.
 
Old 07-18-2016, 08:48 PM
 
3,313 posts, read 4,296,635 times
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Quote:
Originally Posted by uhuru View Post
Perhaps, we got lucky but we bought an existing house in New Tampa at approximately $105 per square foot not so long ago constructed by an excellent builder, a conservation lot and lots of upgrades in excellent condition.

I don't see houses flying off the shelf in this area. If it is properly priced it moves otherwise it just sits until the seller lowers the price.

I am curious as to the $ per square foot for the house in Seven Oaks that sold because we looked in that area and could not find a home we really liked at least based on the then inventory.
I think that house was around $100-105 per sq. ft. as well, but it had someone unique floor plan and not so great lot. Maybe it was the reason why the house was not a quick sell in the fall...
I feel the inventory is rather limited now which gives sellers a right to ask more.
I spoke with my neighbors (all paid a little over 500K within last two years), and all felt they got a great deals. Their homes are big so it's a little over 100$ per sq. ft. really. Prices are really what you compare it to. Most of my neighbors moved from other states where homes are more expensive and even $500K+ sounded as a good deals for them.
 
Old 07-18-2016, 08:49 PM
 
3,313 posts, read 4,296,635 times
Reputation: 1836
Quote:
Originally Posted by dothetwist View Post
Wrong again!

April 2016 Statistics released in June 2016 (latest available) from Pinellas County Realtor Org.

Number of Sales 2,202
Sales Paid in Cash 974
Percent change from April 2015 -1.5%
any other counties facts?
 
Old 07-18-2016, 08:53 PM
 
3,313 posts, read 4,296,635 times
Reputation: 1836
Quote:
Originally Posted by dothetwist View Post
Wrong....in most sales involving financing, the seller will usually end up paying some points on behalf of buyer. While that's not required, it's pretty customary.
It's all about negotiation really. My brother in law just sold his home in north Florida last week, he did FSBO, got asking price and didn't pay anything on behalf of buyer other than what sellers normally pay at closing.
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