[SKB]

Oh, Sorry about your Grandma, Mrs1885 I hope she can hang in there. My Father-In-Law also suffers from Alzheimers, and I know how challenging that can be.

[2peaches2oranges]

I have a house listed at $450K. Comps around me for same sf/lot's sold are one for $460K in June, another $450K and $465K in May. On Monday, I lowered to $420K to try and move it (I have two homes--one has got to go!).

I got an offer yesterday of $345K. All of the buyers around here are either from England or Scotland. That was a big difference!

[ready2move]

I consider myself EXTREMELY lucky. We put our house on the market last September had an offer that was only $5000.00 below our asking, and the closing took forever. We did not close until January. But that's another story.

I would never pay what these people paid for our cookie cutter home in Cooper City in Broward County for $463,000.

[maslozhir]

I have bought an apartment in 2005 directly before Wilma for 230K. Has made 20K in upgrates. So the apartment cost me 250K. In 2006 has put an apartment for sale. For 9 months we had only three viewings and no offers. I have reduced the price down to 220K. In February 2007 I have sold an apartment for 200K .
I consider that I'm very lucky. Now I could not sell apartment even for 175K .
The most important is to jump out of a train on time .

[WOWAddict]

Wow that is tough masloz. We have some converted rentals over by me and they cant give them away so most people rent them out. I would consider renting my house out, but my hoa only allows a certain amount of rental units and they are all taken up.

[maslozhir]

Originally Posted by WOWAddict

Wow that is tough masloz. We have some converted rentals over by me and they cant give them away so most people rent them out. I would consider renting my house out, but my hoa only allows a certain amount of rental units and they are all taken up.

I was gona flip the unit for profit . it didnt work , so I bite the bullet .

[SKB]

Originally Posted by 2peaches2oranges

I have a house listed at $450K. Comps around me for same sf/lot's sold are one for $460K in June, another $450K and $465K in May. On Monday, I lowered to $420K to try and move it (I have two homes--one has got to go!).

I got an offer yesterday of $345K. All of the buyers around here are either from England or Scotland. That was a big difference!

Did you accept the offer?

[JimKing]

Originally Posted by WOWAddict

That is too much. I rather ride it out until the market takes a turn around even if that is a few years.

You really need to research the underlying causes of this current Florida real estate situation. You need to step away and look at the true fundamentals of what is coming for Florida real estate.

To be perfectly blunt, the negative factors are just starting to converge. The long term trend for Florida real estate is looking down for as far as the eye can see. I do not see any reason to expect a turn around in a few years or even 10 years. In fact, just the opposite.

I have heard the same thing over and over the past year, "I can't take a cut like that, I will wait for the market to turn upwards again".

There really are no solid fundamentals that support this belief.

[SKB]

I have to completely agree with you Jim. It seems like people are simply not understanding what has happened in the last five years. It goes a lot deeper than homes simply appreciating in huge amounts YOY.
I suggest to anyone that really wants to have complete understanding to read this article: "It's A Terrible Time To Buy". It is lengthy reading but well worth the effort. It is written in such a way that it is very understandable and points out everything.

Housing Crash Continues, Bubble Pops

[TriMT7]

I had a townhome listed at 215k in Tallahassee, the ultimate buyers put in an offer at 205, I countered at 213, and they counter-countered at 210, which I accepted.

This was back in March/April of this year. The 215k was a realistic drop in the first place from our "dream price" of 225k.