House not selling, husband already working out of state (Orlando: sales, brokers)

[CJFlorida]

Originally Posted by leavin_florida

We looked into leasing - but could only hope to lease for 1,300 a month and that doesn't come close to covering the payment plus insurance and property tax.

That tells you what your house is worth in today's market. About 120 times what you could rent it for. At $219,000 you are not even in the ballpark of what the house could sell for.

Be realistic, if someone could rent a similar house for $1300/month, why on earth would they pay $219,000 or anything close to that for it??

You should try and learn the basics such as 2.5-3 times area income and 120 times comparable rents as the fundamentals of pricing a house for sale. You can learn a lot online at various housing bubble blogs.

[nickindependence]

People rent in todays market and the cost to rent is so low purely because so many investors bought property which they intended to flip and are unable to do that now and have to rent them for anything they can get purely so they dont loose everything.

Property value is determined by a number of factors, that only being the partial picture. But as i tell my clients, in this market we can give you a ball park figure of what your home is worth, but the key is finding a buyer who is who is prepared to pay what your asking as a property at the end of the day is only worth what someone is prepared to pay.

That being said more so than ever now the key is in the marketing. No Realtor can say i can definately sell your home. However, we can take steps to give us confidence in selling your home.

As an example i am originally from the UK and i market all of my properties in the UK as well as here. Although the market is in a mess here, the number of British people coming over is as high as its ever been and they continue to buy due to the weak $. I also guest write in a newspaper over there on the Florida property market which has increased my profile over there. By doing these things i have increased the viewability of homes which i market, thus giving them a greater success of selling than someone who only advertises say in the sentinel and a few local free papers here.

By choosing a realtor (assuming your using a realtor of course) who can offer these additional services can greatly aid in selling your home. Im not saying this guarantees you to sell your home because that would not be correct, but it gives you a greater chance. It may be worth asking your realtor if they can do this for you.

I hope this gives you some food for thought.

Nick

[rich renter]

things just arent selling today
check this one, been on the market for 200 days at 170k,

2100sf
built in 2005 in kissimmee

there are just pages of homes for sale like this in kissimee

ZipRealty, Inc. - Sign In (MLS #: S4623383 )

[doom1001]

I have a neighbor who has dropped the price on the house $120,000,REALLY!!!And guess what nothing.As others have said prices are only going to go down for a good while,it'll probably be 2010 when you'll see any kind of increase and that won't be much,cut your losses now and sell for whatever you can!!!

[right-here-i-say]

Home prices in Orlando will go to 2003 prices, if not lower. Price it at 2003 levels (about 40% below 2005 levels). It will sell.

Look at it this way. If you were moving to Orlando, with your current situation, would you buy your house for the price you are selling it for?

[traysea]

Originally Posted by right-here-i-say

Home prices in Orlando will go to 2003 prices, if not lower. Price it at 2003 levels (about 40% below 2005 levels). It will sell.

Look at it this way. If you were moving to Orlando, with your current situation, would you buy your house for the price you are selling it for?

-- Hey, I hope your right -- b/c I sold a house in 2003 for 225k , moved out of state and moved back to Fl a few months ago.

I am LOSING my shirt on my house in Cincy and will want to buy my next home in FL -- less what I I've lost, which means it will have to be back to 2001 prices...

I bought my brand-new 2600 SF house on a decent lot with no HOA in 2001 for 2001 and again, sold it 2 years later for 225k.

Let's hope my loss in KY, translates to enough correction here in FL so I can be a homeowner again.

Otherwise, I will have to be a renter -- which is so odd for a family of 4 making almost 200k per year. (I don't intend to be house poor again!)

[nickindependence]

Have you pre-qualified with a mortgage broker to confirm what your buying power is at the moment. Obviously, not dealing with you as a customer i cant tell but i am surprised that with family earnings of $200 K a year you would have to rent. Iwould be happy to recommend a great mortgage broker who helped me and my wife.

Nick

[ucfjtm]

Originally Posted by nickindependence

Have you pre-qualified with a mortgage broker to confirm what your buying power is at the moment. Obviously, not dealing with you as a customer i cant tell but i am surprised that with family earnings of $200 K a year you would have to rent. Iwould be happy to recommend a great mortgage broker who helped me and my wife.

Nick

I agree with Nick.. $200k a year is a lot for Florida salaries. $400k lands a very nice house right now, and at that income, it shouldn't be a problem at all finding a fantastic foreclosure or saving a family from a foreclosure. Of course chances are that prices will continue to go down, but it's up to you if it's worth buying now to know you won't have to move again. I personally would wait, but my disposable income isn't even close to yours..

[Westfalengirl]

You not alone, we sitting here in south east Arizona in an house that is only 7 years old with sitebuilding and fully fenced 4 acres and a Dog Grooming business which gives you a very good income.
We like to relocate to Oregon but for over two years no bit at all, all what you dealing with are some idiot real Eastaters and goofy buyers they cannot make her mind up. Guess that is our all future....

[NikoTroi]

Originally Posted by leavin_florida

We looked into leasing - but could only hope to lease for 1,300 a month and that doesn't come close to covering the payment plus insurance and property tax.

You could write the rest off of your taxes as a business expense. You may not be able to afford something as nice on the other end but at least you can be together and not take a big hit on your credit.