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Fort Lauderdale area Broward County
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Old 07-01-2008, 03:19 PM
 
Location: Atlanta,GA
2,685 posts, read 6,398,193 times
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Thanks for the replies. I'm surprised that there aren't more replies. I thought some would vent, or share their problems. The last question was basically asking: Knowing that the market is weak, and the chances of selling a house down here is slim to none at all (At the moment), why are many people still trying to sell, knowing the house will not sell at "market value" (still overpriced, if you ask me)? Last I heard, the overall inventory in South Florida is good for 3 years. Not looking good, for now.
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Old 07-01-2008, 04:14 PM
 
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As my husband just told our neighbor who was filled with Debbie Downer predictions, if we don't sell it this year, we'll sell it next year, and if we don't sell it next year, we'll sell it the year after that. We certainly won't sell it if it isn't on the market at all, and we do want to get on with our lives now that our kids are soon graduating from high school. Essentially, we are listing the house two years prior to the latest point we really don't want to be here (my daughter's high school graduation). It's no fun to sell a house under pressure. I've never done that, and don't ever want to be in that position. In this market, 2 years should be a reasonable window, and if nothing else, we'll learn something along the way. Not to mention, that the house will stay "showroom ready" all that time. I've never felt more motivated to clean and stage than when I know someone is coming to look at a house we've had for sale.
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Old 07-02-2008, 03:33 PM
 
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One other aspect is list prices are meaningless. As a generalization Would it be accurate to say that a reasonable offer in this market could be 20-30% below list?
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Old 07-02-2008, 06:40 PM
 
259 posts, read 1,319,870 times
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Nothing wrong with keeping your house clean, fauve!

Unfortunately, trying to put timing to this market is about as easy as the stock market.

Being a prospective buyer myself, I go out of my way to find people who have actually closed a buy recently. Those that have have used the pre-2002 appraisal rule of thumb as their compass. So whatever percentage that is to listing prices, I cannot generalize, but houses are moving at those values. Eventually, those sales will take over the comp numbers and unless their realtor has a recreational drug habit, the listings ought to start reflecting that and the market should begin to respond better.
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Old 07-02-2008, 10:09 PM
 
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ugh, not 2002 ! It took awhile for me to get back to 2004!!!!

Last edited by fauve; 07-02-2008 at 10:20 PM..
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