Trinity (for sale, real estate, foreclosures)

[sueinge]

Will neighborhoods in Trinity hold value?

[berkshirelassie]

Hi,
How are you? Your post about Trinity neighborhoods holding their value is something everyone would love to know about any neighborhood they are thinking of buying in, in this market. I'm a licensed Florida Realtor and I see pricing dropping on a daily basis. If a home is priced right in this market it will sell quickly! Trinity area has dropped in value quite a bit from just a couple of years ago. None of us know if we have seen the bottom. If you have a long term plan to hold on to the property, chances are it will increase. But if you are looking to buy and sell in a short amount of time it would be risky. I have a friend who sold her house in Trinity two years ago just as the market started to tumble and she got full asking price of $400k! Now that same house would probably sell for about 300k or less. There are some awesome deals out there right now if you are ready to take the time and look.
Are you already in FL., or are you planning a move? Moderator cut: edit
Sunny Regards,
Kathy
Moderator cut: edit

[fopt65]

Some of the developments were over bought by investors. I've heard from a friend living there that Trinity West development has been hurt particularly hard by this.
I've also been told to look out for some serious flooding issues in parts of Thousand Oaks.

I still think its a nice area. You should be able to get in at a good price that will holdup in the future IMHO, but I'm not a real estate professional.

[sueinge]

We are being relocated to FL but are looking for a home to live in for a long time, we don't plan on moving again for a long long while. So I guess my question was for the long haul, but I know no one can really answer that with this market. We just want to buy somewhere that is a sound investment and we like Trinity.

[usfbulls]

Trinity is one of the more desirable areas in the tampa bay area, with upscale neighborhoods, with multi million dollar homes on beautiful golf courses. Great shopping within 5 minutes and plenty of restaurants. Home values will hold and even go up from if you buy now. If you had of bought 18 months ago, you would be waiting a few years for the prices to go up from todays prices, but buying at today's prices will guarantee you a increase over the long term. There are some great homes for sale in the 250-300K price range. There is no way they will stay that way in 5 years.

[SLCPUNK]

Originally Posted by usfbulls

There are some great homes for sale in the 250-300K price range. There is no way they will stay that way in 5 years.

Yea, they'll be less.

[sueinge]

SLCPUNK, why do you say that?

[SLCPUNK]

2-3 more years or ARMS to reset, foreclosures galore, short sales, tighter lending standards, and gargantuan inventory. It will take time to clear this mess out. The houses were not worth the prices they had spiked to, and what we are seeing now, still has a long way to go-down. I don't see a flatline for 3-5 more years, and even when that happens, prices aren't going to zip back up anytime soon afterwards. I wouldn't be surprised to see prices stagnant in Florida (and across the country) for the next ten years. I would not rush in to buy anything now.

[usfbulls]

SLCPUNK, you are correct that there will be more foreclosures to come, but home prices now will be much lower then they will be in 5-10 years. Prices now are what they were in 2005, and are where they should be when you consider price per sq foot, price indices, etc.
Yes, the market will take another year or two to fully recover, but areas such as Trinity are going to bounce back quicker since it is a highly desirable area. More people are still moving to FL then are leaving, so the inventory is slowly being reduced.
Now is the time to buy a house IMO. From realtor I talk to, they are confident the bottom was reached. The houses I see listed for 250-300k are a steal and someone wanting to buy would be silly to pass on buying now. I wouldnt be surprised if investors dont start gobbling up houses again at these prices.