[Floridasunshine]

We were appraised last may for 264,000 on our home and investors were selling the homes for 245,000. The investors are selling all the homes for 200 now dropping the market in here, We did put too many upgrades in our home , but this is our 3rd house and we always go our money out of it pretty much. I would say now is time to buy in Lakeland if you want a resale but the news homes are selling out on hwy 98 3miles down the roads, and in the new sub right across the street by different builder. but my realtor says the builders are giving good deals so people are just buying new. Our taxes and insurance are still so much lower than other counties , so it is hard to complain about it. We are just upset the investors are renting these homes cheap and we are getting low class people in here.

[DeLaSalle]

Originally Posted by Floridasunshine

We are in shock today, we had a realtor come out to give us idea what we could get if we sold our 18mos new home. We paid 195,000 with upgrades for 2100 sq ft, Lakeland I guess is at all time low of home sold. Only New homes are selling apparently from builders who finance hard to finance people.

We are on 2 acre pond, biggest lot in here, 20,000 upgrades, He claims now it would be hard to sell for more than, than 220,000.
When right across the street the lots on pond are 35,000 extra.

In Tampa it would sell for 350,figure that. By the time you pay realtor and sellers fees, no way.
I guess we will wait it out 2more years. The problem we bought in a sub where the builder selling to many investors. THe realtor says now the builders are glad to sell to investors because noone is buying so the problems will get worse before gets better.

Best of Luck Sweetie, Hang in there.

[TriMT7]

Originally Posted by Floridasunshine

We are just upset the investors are renting these homes cheap and we are getting low class people in here.

Time to organize and HOA, lol.

Seriously though, steps CAN be done to keep the riff raff out. The building I want to move into in Downtown West Palm Beach, for example, requires a RIDICULOUS amount of deposits:

1) The $1500 refundable security deposit you give to your landlord (in addition to first, last, and any non-refundable $500 pet fee)

2) $1000 refundable to the HOA for the duration of the lease, for any damage you do to "common areas" while living there

3) $1000 refundable move-in deposit due and returned the day you move your stuff in, plus restrictions on using only bonded and insured movers.


It's a pain.... BUT I know that we won't have any "Section 8" types moving in on the cheap, so it's worth it. That might sound snooty or whatever, but judging by the way some people have no pride in where they live enough to keep it clean and in good repair, even as renters, it's a price I'm willing to pay.

I've even rationalized the "HOA deposit" as saying I stuck $1000 in my mattress for emergency use!


If you have an HOA, maybe you can organize some similar tougher "renter" rules that are applicable to single family home subdivisions?

[MB2]

OK...here is my "story"
Bought brandnew house in 2003/04 (house got done being build in dec/ jan) for 190,00.00. (mercedes acott bay model) 1 month after we moved in, it went up in price to 219,000.00.
Put on market in 2005 for 299,00.00 (includes upgrades at this point). Took it off the market, after our realtor had open house, again, and fell asleep on our couch!!! LOL (That really happened!)
We thought, we stick around a bit longer....
Put house back on market last year oct/ nov, starting price this time 279,000.00. We went all the way down to $249....got people in from down south. They counter offered at $233.....No brainer...we SOLD as soon as we could. We will (maybe or maybe not) break even, after a home equity loan , mortgage, and our realtor is satisfied. (our realtor is getting 7%!!!)
Just to get out of here, not to let our home get into forclosure....
So, let's see....I walk away from a $170,000.00 mortgage loan, a $50,000.00 home equity loan....a $1700/ month mortgage payment to bank of america( after a recent $300 payment increase due to taxes and HOI, which is figured into our payment!), and all that with my excellent credit rating intact!!!!
Yes, for us that was the way to go!
Closing for the new buyers will be May 4th!

[Delray Patty]

WEll good luck to you Movin back to Pa...where are going back too in Pa?
I used to live in Marshalls Creek, outside of Stroudsburg.....but I hear this
area is really bad now....not that this area of South Florida is any better..
it's getting really rotten down here too now with the gangs and all..anyway
good luck to you..you did the smart thing for your circumstances..

[Kelticnomad]

Hello I've been reading posts now its 11-5-2009 and was interested in any areas of Lakeland on buying, we are pre-retirement still have to work ..it may be forever work to the grave well thats life...We are quiet friendly but enjoy peace and quiet :>) so Well cared for 2 bedroom 2 bath..1500sf or more,160-175K would like a nice heated community pool that I could try and exercise and lose weight before i get to be 90 LOL

[SKB]

It would be interesting to find out what the original posters home would sell for now.