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Old 06-02-2008, 05:24 PM
 
Location: Asheville, NC
12,626 posts, read 31,940,293 times
Reputation: 5419

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I just spoke to a realtor and the market in FL isn't looking that great. The prices continue to drop. I look at zillow everyday and it seems my house drops $500 a day. I know some people say zillow isn't that accurate, but the realtor seems to think it's close. I'm putting my house on the market this week and keeping my fingers crossed. Hopefully, with summer approaching, people will be wanting to buy before school goes back in the fall. I know I won't be able to get 2006-2007 prices, but I'm hoping to get enough to put a nice amount down on my next house. By the way, the place I'm moving to, the houses are going up. Go figure!
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Old 06-02-2008, 06:02 PM
 
252 posts, read 388,288 times
Reputation: 72
Default Good Luck

We sold last year at this time(for a deflated price of course). We would have never believed our home--in a Premiere gated community--would lose another 20% of its value in just this past year alone.
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Old 06-02-2008, 06:12 PM
 
Location: Palm Coast, Fl
2,249 posts, read 8,877,254 times
Reputation: 1009
Where are you in Florida? And tell your Realtor® to get off zillow and do real comps for ya.
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Old 06-03-2008, 10:28 AM
 
Location: Rockaway, NJ
109 posts, read 344,218 times
Reputation: 48
Where are you moving to that the prices are rising?
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Old 06-03-2008, 11:56 AM
 
1,949 posts, read 5,966,443 times
Reputation: 1297
Don't Use Zillow!
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Old 06-03-2008, 03:38 PM
 
Location: Broward County
2,517 posts, read 11,023,162 times
Reputation: 1391
Quote:
Originally Posted by beckycat View Post
I just spoke to a realtor and the market in FL isn't looking that great. The prices continue to drop. I look at zillow everyday and it seems my house drops $500 a day. I know some people say zillow isn't that accurate, but the realtor seems to think it's close. I'm putting my house on the market this week and keeping my fingers crossed. Hopefully, with summer approaching, people will be wanting to buy before school goes back in the fall. I know I won't be able to get 2006-2007 prices, but I'm hoping to get enough to put a nice amount down on my next house. By the way, the place I'm moving to, the houses are going up. Go figure!

Prices will continue to drop a lot in South Florida. In Dade County, expect an additional 24% decrease by May of next year. In Broward, 22% by May of next year and in Palm Beach county, 17% decline by May of next year.

I, for one, am very glad prices are becoming REALSTIC and AFFORDABLE for people once more. Everyone knew that the huge real estate boom in South Florida a couple of years would eventually correct itself and now is the time.

Don't expect prices to level off until May of next year (2009). For buyers that means DO NOT BUY until May of 2009 and for SELLERS that means sell NOW (if you can)
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Old 06-03-2008, 07:56 PM
 
Location: Palm Coast, Fl
2,249 posts, read 8,877,254 times
Reputation: 1009
Is that where the OP is? South Florida?
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