Do you think the real estate market will be good this time next year?

[mr&mrssunshine]

Man go to vendor stall to buy oranges .."how much " he say....answer "$2 a pound"
too much he go next stall
"how much" he say ? answer "$1 per pound"....."ok I take 5 pound"..." we no got none come back tomorrow"


next day he go back...." 5 pound of oranges" "ok that $15"..."what" he says "yesterday they were $1 and guy up street $2".........a
"ah come reply , yesterday I no have so they cheaper, today he no have but I do, so they more"


Confucius he say " supply and demand set price"


:-)

[QuilterChick]

Originally Posted by CindyRoos

Really?

Yes, really. He is correct. Not a good plan to buy at the top of the market unless you want to remain in that property forever or have unlimited funds so you can afford to take a loss if you sell. You have nowhere to go but down in value when the market tightens up. I bought a very nice condo in PG in July of 2011 for $80K that had been on the market for 9 mos. and was beautifully maintained with new baths and kitchen etc., from a seller who didn't want to keep it over the summer. Right now as the snowbirds are coming back and the market may be topping out, that same condo would easily sell for close to $130K according to the sold comps in that location.

I am watching the market there this season for prices to either drop or level off to a reasonable appreciation by next April. Currently, there seem to be many condos being sold furnished; which may indicate older residents passing on and heirs selling, but mostly I believe it is investors taking their profit and moving on.

[FLHfan]

Originally Posted by QuilterChick

Yes, really. He is correct. Not a good plan to buy at the top of the market unless you want to remain in that property forever or have unlimited funds so you can afford to take a loss if you sell. You have nowhere to go but down in value when the market tightens up. I bought a very nice condo in PG in July of 2011 for $80K that had been on the market for 9 mos. and was beautifully maintained with new baths and kitchen etc., from a seller who didn't want to keep it over the summer. Right now as the snowbirds are coming back and the market may be topping out, that same condo would easily sell for close to $130K according to the sold comps in that location.

I am watching the market there this season for prices to either drop or level off to a reasonable appreciation by next April. Currently, there seem to be many condos being sold furnished; which may indicate older residents passing on and heirs selling, but mostly I believe it is investors taking their profit and moving on.

He would be correct IF it was the top, it's not. Some segments increased 12% or more in the last year alone. Next year will see a smaller increase but prices of existing houses will not drop any time soon.

Sheckie was spewing the same gloom and doom last year, under a different name of course.
None of it came true.

[Xia Chen]

Originally Posted by mr&mrssunshine

Man go to vendor stall to buy oranges .."how much " he say....answer "$2 a pound"
too much he go next stall
"how much" he say ? answer "$1 per pound"....."ok I take 5 pound"..." we no got none come back tomorrow"


next day he go back...." 5 pound of oranges" "ok that $15"..."what" he says "yesterday they were $1 and guy up street $2".........a
"ah come reply , yesterday I no have so they cheaper, today he no have but I do, so they more"


Confucius he say " supply and demand set price"


:-)

orange not house, house not orange


house built by labor
orange grown
buying food necessary
buying house not necessary
supply and demand only two factor in economics
The superior man understands what is right; the inferior man understands what will sell.Confucius
Read more at: The superior man understands what is right; the inferior man understands what will sell. - Confucius - BrainyQuote
The superior man understands what is right; the inferior man understands what will sell.Confucius
Read more at: The superior man understands what is right; the inferior man understands what will sell. - Confucius - BrainyQuote
The superior man understands what is right; the inferior man understands what will sell.
Read more at: Confucius Quotes Page 3 - BrainyQuote
The superior man understands what is right; the inferior man understands what will sell.
Read more at: Confucius Quotes Page 3 - BrainyQuote
the superior man understands what is right; the inferior man understand what sells
the cautious seldom err

[QuilterChick]

Originally Posted by FLHfan

He would be correct IF it was the top, it's not. Some segments increased 12% or more in the last year alone. Next year will see a smaller increase but prices of existing houses will not drop any time soon.

Sheckie was spewing the same gloom and doom last year, under a different name of course.
None of it came true.

Can I borrow your crystal ball to determine what is the top ? A reasonable increase in appreciation is acceptable. An unreasonable increase is subjective as to the motivations of the buyer and the seller. If you're not thinking about buying or selling, simply sit back and relax.
Real estate prices could drop in some areas of the country. Every real estate cycle goes through a correction or a leveling off period according to overall economic conditions, and normal attrition. But I'm not paying someone 30-40% "appreciation" and then put $5K to $8K into it for upgrades.

[FLHfan]

Originally Posted by QuilterChick

Can I borrow your crystal ball to determine what is the top ? A reasonable increase in appreciation is acceptable. An unreasonable increase is subjective as to the motivations of the buyer and the seller. If you're not thinking about buying or selling, simply sit back and relax.
Real estate prices could drop in some areas of the country. Every real estate cycle goes through a correction or a leveling off period according to overall economic conditions, and normal attrition. But I'm not paying someone 30-40% "appreciation" and then put $5K to $8K into it for upgrades.

If I knew where the top is I'd tell you, but this ain't it. The days of unreasonable increases look to be over but normal appreciation is still out there.

I agree, prices will drop "somewhere", just not here anytime soon.

[gypsychic]

Originally Posted by FLHfan

If I knew where the top is I'd tell you, but this ain't it. The days of unreasonable increases look to be over but normal appreciation is still out there.

I agree, prices will drop "somewhere", just not here anytime soon.

Totally agree with this. I really only casually keep up with real estate prices, but here in my neighborhood things are really strong. Very little for sale, and prices have steadily increased (at a normal, healthy rate) since the bottom). I don't see any "crash" any time soon. I truly think what we saw several years ago was an anomaly, and may be decades, if ever, to happen again. This whole Sarasota/Bradenton/Venice area (etc)
is very desirable and there is no shortage of people who want to come here, so demand is strong.

As with all real estate, some locations appreciate faster than others - location, location location.

[QuilterChick]

Originally Posted by FLHfan

If I knew where the top is I'd tell you, but this ain't it. The days of unreasonable increases look to be over but normal appreciation is still out there.

I agree, prices will drop "somewhere", just not here anytime soon.

We'll wait 'n see where it shakes out this year ... the only way to see the 'top' of the market is by looking back. A new administration in D.C. is going to have an effect on the market this coming year. In this area of NC, we have had the highest numbers of people relocating here from FL, ever.

[CindyRoos]

Originally Posted by CapnTrips

A bond is an IOU issued by a corporation or govmnt entity. In exchange for your $$, the issuer agrees to pay the amount borrowed plus interest after a certain period of time, called the maturity date. Long term bonds mature in 12yrs+, medium term 6-12yrs, and short term in 1-5yrs. Bonds can be bought and sold before they mature. The longer the term of the bond the higher the interest you usually get, but the more risk that that the bond will lose value when interest rates change. Short term bond mutual funds -- a collection of short term bonds put together by a mutual fund company like Fidelity -- pay a little more interest than a CD or money market fund, and are subject to just a little more risk (CDs & MMFs have no market risk). You're not going to get rich investing in short term bond mutual funds but its a pretty safe place to park your money for awhile; particularly if, like us, you need a bit more interest than you can get from a cd or money market fund.


Hope that helps!

Awesome! Thanks Capn' Very nice of you to help me out on that!

[CindyRoos]

Originally Posted by QuilterChick

Yes, really. He is correct. Not a good plan to buy at the top of the market unless you want to remain in that property forever or have unlimited funds so you can afford to take a loss if you sell. You have nowhere to go but down in value when the market tightens up. I bought a very nice condo in PG in July of 2011 for $80K that had been on the market for 9 mos. and was beautifully maintained with new baths and kitchen etc., from a seller who didn't want to keep it over the summer. Right now as the snowbirds are coming back and the market may be topping out, that same condo would easily sell for close to $130K according to the sold comps in that location.

I am watching the market there this season for prices to either drop or level off to a reasonable appreciation by next April. Currently, there seem to be many condos being sold furnished; which may indicate older residents passing on and heirs selling, but mostly I believe it is investors taking their profit and moving on.

Thank you for the info QuilterChick

I had Quoted Xia Chen not for the info they stated but for implying someone was "stupid"
Thanks all
Sorry for the confusion