house finally on the market (Sarasota: rental, prices, pool)

[RobinNYC]

Originally Posted by RexLan

Other than repeating what you have heard please explain why the current resale market is WAY OVERPRICED ..... it is not actually.

First.....I wasn't repeating what I HEARD! I was pointing out a FACT from MY EXPERIENCE! When we started looking at older homes a couple of months ago they were way over priced. An early 70's home 3/2 all original inside (meaning NO updates) was selling high 300k! We looked a house that was foreclosed, bought by someone and some (believe me not a lot) renovation were done. It was built in 1974, it was 2/2 and NO pool! The foreclosure price $170k, 6 months later with very very very little upgrades was going for $349k! So it's MY OPINION that, that home was way way over priced! We saw many homes like that. I am not saying that there aren't homes out there that are great deals but those are few and far between. It's like finding a needle in haystack. And if you do find one please let me know!

[RexLan]

Originally Posted by Macgregorsailor51

Rex I too , at first I thought? Are YOU Crazy??? But my coffee cup was empty, and you, you weren't going anywhere.. So I got up and filled it and was thinking about your reply, by the time I returned to this computer? I AGREE WITH YOU! 100%... Oh, Prices have rebounded here a bit , just like , just about, every other desirable location in America. I had to ask myself? Are there many or even Any, other locations IN AMERICA where say $250-$300K will buy you..... FUN IN THE SUN 365.. in a Late 80's Block Built 1800+sgft Home With 3 bdrm 2 baths 2 car garage a Pool and ...........With Waterfront, accessing a HUGE Harbor and Even the entire world as we know it, beyond? The Answer is TTBOMK NO! No There isn't! So prices may be rebounding a bit from what they were just 2 3 4 years ago, but just about every home for sale today...... will be looked at with envy in a 6 months.. The very best time to have bought was around 3 to 4 years ago.. But Charlotte County Water Front is still a BARGAIN!

That is how I see it myself. The current inventory is aging and seems to be getting older, maybe less turnover, but is still compettively priced. There are not a lot of say 2005+ homes for sale but a lot of 90's and a heck of allot of 80"s stuff which, IMHO, are not desirable from a maintenance point of view, such as aged equipment, roofs, landscape and especially energy efficiency, not to mention that they are sub-par for current codes. There is a big gap between those homes and new construction but that does not make them overpriced. If anything, new construction is overpriced today, again.

That said, however, overall resales are still a good value and pricing is always market driven. The buyers market of yester year has long vanished and folks using that as their base line for "good deals" are fooling themselves. I good quality resale will cost $140 - $160 s.f on average depending on pool and location. There is some lesser quality and dated property out there in the $120 s.f. range too.

[FLHfan]

Originally Posted by RobinNYC

First.....I wasn't repeating what I HEARD! I was pointing out a FACT from MY EXPERIENCE! When we started looking at older homes a couple of months ago they were way over priced. An early 70's home 3/2 all original inside (meaning NO updates) was selling high 300k! We looked a house that was foreclosed, bought by someone and some (believe me not a lot) renovation were done. It was built in 1974, it was 2/2 and NO pool! The foreclosure price $170k, 6 months later with very very very little upgrades was going for $349k! So it's MY OPINION that, that home was way way over priced! We saw many homes like that. I am not saying that there aren't homes out there that are great deals but those are few and far between. It's like finding a needle in haystack. And if you do find one please let me know!

$170 sounds way overpriced but, where was it? Some lots can run that high.

[MartyGras]

I disagree !

[Macgregorsailor51]

Sorry Folks ........The "Great Deals" Are LONG GONE! Pressure is certainly ON! Without another Market Correction its only going to cost you more for less...... next month..

[Old Gal]

While I live in Venice, I'm noticing housing prices going up fairly significantly and we have only lived here 7 months. My guess, is that if we chose to sell, we could make a half way decent profit already - not that we are going to sell mind you.

[askibicki]

Originally Posted by FLHfan

Don't forget to check our Rotonda Sands, Meadows and Heights. They are all located on the outside corners of the circle.
These areas have a different feel and are less crowded, more woodsy. Same type of HOA with low dues.

thanks will do, what about the Lakes section, homes looked very nice

[FLHfan]

Originally Posted by askibicki

thanks will do, what about the Lakes section, homes looked very nice

Yes, same secluded feeling. Some of the homes we looked at there were on smaller lots though. The ones listed look very nice. That area will have a short drive to Publix, Home Depot and all the big box stores in Port Charlotte.

Edit: be sure to check the elevation of any house you are looking at. I noticed a few with the vented garage doors in the Lakes

[RobinNYC]

Originally Posted by FLHfan

$170 sounds way overpriced but, where was it? Some lots can run that high.

It was in PGI.

[Macgregorsailor51]

Hummm I only see 4 homes at $349 in PGI and ONE has a nasty looking kitchen with Grey... Plank Wannabe Formica cabinets and Old Appliances ? Cheap White Solider Stacked Tile and lots of cheap old carpet and NO POOL! The other 3 are IMHO better choices, and most are closer to the Harbor? Someone who feels they just, Have To Have a PGI address will buy it when the other 3 are gone..

Originally Posted by RobinNYC

It was in PGI.