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Sarasota - Bradenton - Venice area Manatee and Sarasota Counties
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Old 07-17-2010, 09:09 AM
 
17,534 posts, read 39,126,512 times
Reputation: 24289

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Quote:
Originally Posted by dishing the 9411 View Post
I just would hate to see all these people who are sacrificing their hard earned dollars end up underwater at the closing table (even if an appraiser agreed with the contract price) and then have to walk away the following year. If they pay cash this is not an issue. However, I am seeing this happen to the folks who took out mortgages in 2007 and 2008. They thought they had a great deal, at that time, and are now in the foreclosure process. The economy is still a mess.
I do agree with that. I think everyone has to do their own research and do what is best for them. We bought in 2008 and are very pleased with our purchase and intend to stay in this home for a long time, maybe til the end of our days. Our mortgage payment is tiny (you couldn't rent a room in a house for what we pay) and even factoring taxes and insurance it is still a complete bargain. In our neighborhood, there are no more deals at this price point, and this is where we wanted to live. If someone wants a particular neighborhood, they need to see what is actually happening sales-wise with prices, etc. there.

There is no one right or wrong answer as to whether anyone should buy now or wait. Circumstances vary for each individual. If someone is retirement age and can afford a place where they want, it makes sense to do it now, life is getting shorter. It may be different for young families.

It doesn't matter to me what anyone else does. I have always done my own research and acted accordingly. Not saying I have ALWAYS made the best choices, but what matters to me now is that we made a great decision when we bought this house in 2008.

Bottom line is that in MY personal opinion, as a Florida native, the Sarasota area has always been considered one of the most desirable places to live, and in the past has always been more expensive compared to other areas. This has change greatly after the boom and crash, and there have been unheard of deals in the past couple years. I see it going up again soon. I see a lot of people buying here at all price points. I have nothing to lose or gain if people come here or not, in fact, I don't particularly WANT to see an increase in population or even prices here, but that is out of my hands.

DISCLAIMER: I am NOT a realtor, do NOT work for the Chamber of Commerce, have NO house to buy or sell, and in fact I DON'T WORK AT ALL! I'm just a happy and positive person who is enjoying her life in one of the most beautiful areas of Florida!
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Old 07-17-2010, 09:11 AM
 
17,534 posts, read 39,126,512 times
Reputation: 24289
Quote:
Originally Posted by lynne4t View Post
This may be true, but my belief is that there will still be plenty more to make offers on. Maybe some certain people are looking for too good of a deal. *wink wink*
Yes, I think certain people ARE waiting for "too good of a deal." *wink wink, nudge, nudge*
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Old 07-18-2010, 09:02 AM
 
37,315 posts, read 59,862,293 times
Reputation: 25341
it is all relative
there are some people even in this market who probably "overpayed" for what they bought--but if they are happy--it's their business...
there are some people who bought foreclosures and turned around within a week and make a profit selling to someone else...
but you just have to know your market and know yourself...
and lot of people don't know either subject...
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