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Old 06-02-2010, 08:37 AM
 
74 posts, read 116,427 times
Reputation: 39

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I could care less what upgrades you did, there all irrelevant in long term values.

Here is the house on zillow and cyberhome

924 Hancock Bridge Pkwy, Cape Coral, FL 33990 - Zillow

Cyberhomes.com (http://www.cyberhomes.com/homes-capecoral-fl-33990/924hancockbridgepkwy/31365230.aspx - broken link)

according to cyber the buyers are now losing around 15k a month.


Bottom line you made out great the buyers didn’t.
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Old 06-02-2010, 08:54 AM
 
74 posts, read 116,427 times
Reputation: 39
Quote:
Originally Posted by rikoshaprl View Post
Hallandale median home prices have fallen from $260,000 to $120,000 in the last four years as per Zillow. He who lives in glass houses should not throw stones.
that's why I chose to rent and save, wait for the true bottom. I live in a (800k depreciating by at least 5k a month ) 3BR 3bath 2900sfr brand new oceanfront building with every amenity under the sun, pay no association fees, taxes or electric for a stress-free rent of $2060 a month..

Last edited by KasperFile; 06-02-2010 at 09:08 AM..
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Old 06-02-2010, 10:15 AM
 
Location: Cape Coral
5,503 posts, read 7,333,723 times
Reputation: 2250
I can't argue with that strategy. Not many folks have $2060 a month for rent and can still save. And not too many people know how to buy at the bottom like you do. Some even think Florida is near a bottom now.
Good luck with your timing.
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Old 06-02-2010, 10:33 AM
 
Location: Indiana and Cape Coral
282 posts, read 1,008,907 times
Reputation: 151
Quote:
Originally Posted by KasperFile View Post
I could care less what upgrades you did, there all irrelevant in long term values.

Here is the house on zillow and cyberhome

924 Hancock Bridge Pkwy, Cape Coral, FL 33990 - Zillow

Cyberhomes.com (http://www.cyberhomes.com/homes-capecoral-fl-33990/924hancockbridgepkwy/31365230.aspx - broken link)

according to cyber the buyers are now losing around 15k a month.


Bottom line you made out great the buyers didn’t.

After updating the house we made very little and the buyers couldn't be happier with their purchase. They plan on keeping the house for the rest of their lives so I'm thinking they could care less what cyberhome says and
I could care less what cyberhome says because it shows my current house as an empty lot! I think I will stick to what I KNOW, not what some website is telling me. You have a nice day.
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Old 06-02-2010, 11:34 AM
 
Location: WI
1,133 posts, read 2,931,160 times
Reputation: 264
Quote:
Originally Posted by Angelala View Post
I told you we made a profit off of our first house we sold and this proves it.


924 Hancock Bridge Pkwy
Cape Coral, Fl

Look it up, it's public record. We bought in 2007 and sold in 2009, I'm not a liar. You can go to www.leep.org (broken link) and look it up yourself.
Bought for 135,000 and sold for 215,000. You've just been proven wrong.
Great job, Angelala and good luck. We bought on a saltwater canal, but it's only a few minutes out to Charlotte Harbor...for all the boating we do, we thought the closest to open water the better!
Mr. Cool
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Old 06-02-2010, 12:26 PM
 
132 posts, read 557,162 times
Reputation: 96
Zillow and the similar sites are a joke. You cannot take thier #'s to heart. They say my house is worth $626K, up $26K in the last 30 days. Yet a few years ago they had it worth $300K. Those sites are a useless.

Last edited by MikeP; 06-02-2010 at 01:05 PM.. Reason: spelling error
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Old 06-03-2010, 01:42 PM
 
176 posts, read 439,256 times
Reputation: 130
I still believe CC is a great investment opportunity. Baring any oil exposure from the Gulf disaster the area should recover in due time. Yes, jobs will still be an issue. I wouldn't choose CC as an area to raise a family. I see the area as more of a retirement / vacation area.

I live in the NJ, but I'm currently looking into purchasing a 2nd Home in CC. Primarily it will be used as Vacation / Vacation Rental. I'm hoping for a Gulf Access home, but may settle for an updated Off-Water pool home in the SW or SE section of CC.

I've seen a few waterfront homes for below 200K, but the list has dwindled. I know there are plenty of Short Sales available and I'm not opposed to exploring that option as I have no need to sell my existing home. However, I'm finding that realtors are not too keen if pointing you to Short Sales. I guess they're not willing to wait to get paid.

My wife and I will be in CC next week to look as some homes.

Any advice would be welcomed.
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Old 06-03-2010, 03:02 PM
 
74 posts, read 116,427 times
Reputation: 39
Wow that’s some great jump, are your Nabors property reflecting the same trend? Care to shear the addy as I would love to pick one of those goldmines up before they reach a million in 3 month..

Also be aware theirs hoards of brokers, flippers and real estate professionals with nothing but time on their hand to try convincing folks the markets turning into a good deal to get their own revenues flowing again.

Just be careful who and what you listen to, do your own research and understand the issues you'll need to deal with should your great deal go bad. remember your going to need to deal with and not them
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Old 06-03-2010, 04:10 PM
 
Location: The Conterminous United States
22,584 posts, read 54,285,430 times
Reputation: 13615
Great time to pick up a vacation and/or retirement home. Investment? Maybe in 15 to 20 years. Maybe. Rentals? Don't buy if you absolutely need rental income. You may get it, but the chances are very, very slim.
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Old 06-03-2010, 05:07 PM
 
Location: Cape Coral
5,503 posts, read 7,333,723 times
Reputation: 2250
Quote:
Originally Posted by hiknapster View Post
Great time to pick up a vacation and/or retirement home. Investment? Maybe in 15 to 20 years. Maybe. Rentals? Don't buy if you absolutely need rental income. You may get it, but the chances are very, very slim.
I think 15-20 years is a little too pessimistic. Prices may bottom out within a couple of years or sooner. Then a 3% per year increase would not be out of the question considering the retiring baby boomer population. That would be a pretty good return on your down payment if you could get rents to cover your bills. I doubt you will ever see the double digit increases that we had in the early 2000's. I would never be a landlord in an area I didn't live in anyway.
But for a retirement home who cares what the price appreciation or depreciation is?
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