[bamboosmom]

Have you ever wondered why so many home sellers are lowering their home prices? Because if they don't then the realtors are out of business for a while.

The media has done this to the real estate market. The buyers are hearing that prices will go lower. What if we all decide to start raising the prices?
I mean everybody just starts raising their asking price????

Nobody says that we can't. Now, if the real estate market sees that we start raising the prices, the media will start blabbing "ooh, I guess we were wrong, now the prices are going up". Hold firm on that price. Buyers will have to make a decission now. Just as we would when we go and buy that next property. Somebody changed the market by telling everybody that the bubble is bursting. Well, it happens by word of mouth.
Now, if we go and raise those prices, it will (maybe) flip...
?? What do you think??

[chocomom]

Originally Posted by bamboosmom

Have you ever wondered why so many home sellers are lowering their home prices? Because if they don't then the realtors are out of business for a while.

The media has done this to the real estate market. The buyers are hearing that prices will go lower. What if we all decide to start raising the prices?
I mean everybody just starts raising their asking price????

Nobody says that we can't. Now, if the real estate market sees that we start raising the prices, the media will start blabbing "ooh, I guess we were wrong, now the prices are going up". Hold firm on that price. Buyers will have to make a decission now. Just as we would when we go and buy that next property. Somebody changed the market by telling everybody that the bubble is bursting. Well, it happens by word of mouth.
Now, if we go and raise those prices, it will (maybe) flip...
?? What do you think??

Bamboo, I know yu're frustrated but look at it from the other side:

When the market was up, NO ONE was complaining that the media was over-publicizing the issue. Everyone was super happy to make 50% or more on their home in a short period of time. Things got crazy, and people thought it would last forever.

People who can't afford it are starting to move on. Wages are slacking and industry in not increasing the way everyone expected it would. Insurance and taxes have priced out many who would otherwise afford and be interested in buying. Flippers and speculators are leveraged to the hilt and have messed up the market equilibrium. Many of the NE buyers can't sell their homes b/c that market is slowing as weel and that is NOT helping the situation any.

BUT this won't last forever either, FL is a draw for many people, and will continue to be. How long will this last? Who knows. I do feel for homeowners like yourself that just want to sell for a fair price and move on.

Just offering a perspective.

[bamboosmom]

Good point. Very good point. I am just wondering if people raised the prices, what would happen? Probably disaster? I dunno.
Our country needs help. Keep American dollars here in our country!
Geez, I think I am gonna go have a glass of wine!!! LOL

[Spookmeister]

There's a reason why the pool of homes that cost a million + is a lot less than the ones than cost < 300K. There has to be enough people making the money to afford the homes. You can raise the price in protest at what the media supposedly has done, but the reality is, buyers won't care. If they can't afford it based on their income, they'll keep looking.
The same applies to the weather. No one knows for sure when the next hurricane is coming, where it will hit and how much of an impact it will have. It's just speculation and the more people keep worrying about it, the more hyped it will get in the media. When the weather experts predicted a higher than average number of 'canes for this year, everyone was panicky, as if they expected them to start happening every other day.Now that we're into the third month of the season with none to speak of, suddenly it's not a reprieve from an unpredictable natural occurence, it's like it won't happen at all.

Florida is a great place. Some like it, others don't. There's no need to justify either stance.

[bamboosmom]

Well, I sure hope the canes stay away. Florida needs a break. I think we are going to get a new realtor tommorrow. Our realtor hasn't been on top of things. She isn't a shark. We will not go higher then... we are going to set ourselves apart from the rest of the homes here in our development and just go much lower. Thank you for the advice guys. Ok, now we will be the leader at this crazy lower price and see what happens.

[chocomom]

Originally Posted by bamboosmom

Good point. Very good point. I am just wondering if people raised the prices, what would happen? Probably disaster? I dunno.
Our country needs help. Keep American dollars here in our country!
Geez, I think I am gonna go have a glass of wine!!! LOL

As Spookmeister said----just not buy. You can't buy what you can't afford, especially since the unpredictability of the ARM and IO loan rates has many who would've attempted to do so scared.

Wine is a good choice. REALLY GOOD.

[bamboosmom]

Yes, I really think I am going to have some later and sit by the pool and chill out. I really need to relax here. Hope the appointment with the new agents produces a sale for us soon.

[mystree]

Insurance and taxes have priced out many who would otherwise afford and be interested in buying. Flippers and speculators are leveraged to the hilt and have *****ed the market equilibrium.

This is what changed our minds and I love florida.

There's a reason why the pool of homes that cost a million + is a lot less than the ones than cost < 300K. There has to be enough people making the money to afford the homes. You can raise the price in protest at what the media supposedly has done, but the reality is, buyers won't care. If they can't afford it based on their income, they'll keep looking.

And why we turned our search elsewhere. Like I said my husband and I love florida,but like many others we are priced out when you add all those factors in.And my choice in florida is the west coast from bradenton on down.Too much of a stretch for us financially.

[Jammie]

Hey Bam, I'm sorry to hear you're still waiting to sell. It will change in time. As you know, I live in the midwest and our homes are MUCH cheaper then in Fla. mainly because of our cold winters and a lot of people consider it a less desirable location. But our market has slipped, too. I've seen pics of the same houses listed in the paper for nearly a year already. Pour me a glass of wine and I'll be over and we'll hang out at your pool.

[LHBR702]

My husband and I had our hearts set on moving to Florida and it was only after doing some research that we have put on the brakes. We are very disappointed that we have had to reconsider. Raising prices won't help because as Spook said, "...but the reality is, buyers won't care. If they can't afford it based on their income, they'll keep looking." We'd love nothing more than to pack up and come on down tomorrow, but we simply can't afford the cost of homes, combined with the high property taxes and homeowner's insurance I'm reading so much about. I don't think the majority of buyer's are able to buy now, but "holding out" for prices to come down. I think most of them or I should say, most of US are discouraged that we can't AFFORD a home at the current prices and so...we wait.