Selling house and I have questions about price. (Lake Worth, St. Lucie: short sale, mortgage)

[pslhomie]

I think you have it SeaLark. You decided you want an HOA and that is fine. You are paying 255k and my non HOA house is 210k so the difference with a pool added would be 15k less than you are paying and no HOA. See I think these are the things people consider when they are looking. You have to take into account where you want to live vs what you get.

One thing I might ask is to find out if the HOA fee is an entrance fee or will it dramatically go up after a period of time. I have seen this happen before. Since you don't have a community pool what does the $78 get you? If it is just lawn service and a gate then you should keep your options open.

Thanks for your input.

[pslhomie]

FlaLadyB please don't think I am doubting you. You obviously have your facts. My point is that in order to protect myself I have to look at it from another view. If you feel insulted that someone does not take your advice then that is your problem. I learned a long time ago that if someone asks me for advice, I give it to them and am not concerned whether they follow it or not.

The experiences of buyers is very important to me because I want to know what they are looking for in order to determine when I should get serious about selling.

As far as Zillow or anyother site, I don't believe anything I read on the internet. That is why I verify it with the Property appraiser. All I am trying to do is do my homework.

[FlaLadyB]

But if you depend on the Property Appraiser site to give you all you need to know.. it doesn't. It gives you an old photo -usually from when the house was built- the square footage- the year it was built - taxes- current owners etc. Nothing else much is there.

Doen't bother me if you take what I say as the truth or not. You will do what ever you will do regardless.

You also cant compare your home off Savage to a house in Vero Beach -- expecially on just on Square feet.

[HarryWho?]

Originally Posted by SeaLark7

We just returned from house hunting in Vero Beach, and found a very nice house with a pool, lakeside, 2460 sf, in an HOA, in fine shape. We are paying $255k for it. We saw another house with no pool, not lakeside, 200 less square footage, also in fine shape, priced at $260. Considering it would have cost us $30k to put in a pool, we thought the one we bought was a much better deal (lakeside also ups the price). We looked at some foreclosures and walked out almost immediately when we saw the shape they were in. We wanted turn-key condition. Another big factor was the view - we didn't want to sit in our family room and look out at another house right behind us, or a busy road, even if it was in an HOA community.

Congratulations! Enjoy.

[pslhomie]

See my point exactly. I don't depend on anyone for my information. I collect data from every source I can in order to formulate a decision. To do otherwise would not be smart. To trust one person who has no vested interest in me and my well being is not wise.

[alsidw]

Yep,

[JimT7406]

PSLhomie if you wait a few years in all probablity your home will appreciate, how much is anyone guess but the odds are on all our side that prices will appreciate. As to determining the value of your home now, you are making it way to complicated. Again you need to identify recent sales, generally in the past 6 months and less within a mile, similar size, age and features. BUT less than a mile cannot include places like Tradition, Newport Isles, Verano, PGA or in a totally different county like Vero Beach for that matter. It is of no help to you in determing the price of your home. In short, those properties even if an identical model of your home are not "comparable" to your property. HOA versus a home on a city street is totally different, the typical buyer is different and so is pricing. Yes you may get some benefit in being close to Tradition etc. but a home say south of Gatlin on a city street will give you a better indication of the value of your home. FYI, you should google the street address of a closed sale and most times if it was on MLS you could actually get the info on what the home was like at the time of the sale.
The comment about properly pricing a home for sale is spot on. If you list your property and it does not sell within 60 days of the listing it is listed to high. Finally, properties are appreciating but here is St Lucie County they are slow rising and lagging way behind Palm Beach county and points south. I have seen the same home by the same home builder sell as much as 100% higher in Palm Beach County. Eventually homes are going to become unaffordable again further south and then our prices hopefully will go up quicker. Till them PSLhomie I will wait like you to sell my home. Hope my unbiased comments helped you.

[SeaLark7]

pslhomie, our HOA fee includes irrigation of the lawn and upkeep of common areas like the entrance gate and lake. From what I have heard of water fees, the $78 a month is a bargain just for the irrigation alone. The monthly fee is all that is required in this community (The Preserve), but we looked at one house in The Vineyard community where the HOA also required a $400 one-time fee for new residents. Glad we don't have to pay that !
Since we bought a lakefront property, I think that also adds to the value of our house.

[pslhomie]

My house has a well so the only thing I pay different is the electricity. I would live in an HOA if they lived up to the hype but many don't. The HOA where we have our condo has strict rules but when push comes to shove they don't enforce them. Examples are there is a limit on dogs 40 pounds or less yet the HOA President and many others have large Dobermans and huge packs of dogs. Same dog's are not to be walked in the green spaces yet you can't use them because they are full of crap. Strict guidelines on renters yet I suspect several section 8 people live here. We have people who have not paid HOA fees in years. One has over 10k in back fees. Now you might think I live in a dump but this is one of the most desirable HOA's in Miami. Ten years ago there was a waiting list to buy here. You could literally sell your house or condo in just a couple of days. With the bust though people are hanging on and renting them out. What has happened is the HOA has allowed this though the rules state that only a certain percentage can be renters. Now if you get on the bad side of the HOA they come down on you like a hammer. The smart ones threaten to sue and they back off. That is our main reason for not wanting to live in an HOA. Again though if you think it is right for you then go for it. I hope your situation works out. We would all love to live in a neighborhood that was clean safe and well maintained.

[pslhomie]

As far as comps. Like I said. A house very similar to mine just blocks away sold for over $290k just a few months ago. I really would like to know why. As far as the property appraisers site goes, I don't care about the pictures, I care about the information about the houses sales history and whether the current owner is past due on their taxes. This information is eye opening because if they are behind in taxes, chances are the property is not being maintained.

When you get an agent you have to do your own work, verify the information you get and make the decision. I would think any reputable agent would appreciate smart buyers and sellers.

I plan on holding on to my house for a few years but like I told the agent we called should you find someone who you think might be interested we would certainly listen. It does not hurt to have feelers out even if you are not in a position to sell. Like the old saying goes, "You can't get anything if you don't ask"