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Sarasota - Bradenton - Venice area Manatee and Sarasota Counties
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Old 04-26-2021, 01:04 PM
 
214 posts, read 107,022 times
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Quote:
Originally Posted by pjbrien View Post
I know a guy who bought at The Lake Club in Lakewood Ranch in early February with base price just below $800K. In the last 9 weeks there have been price increases on 4 separate occasions totaling $130K!! They have limited sales to 2 per salesperson per month so they don't sell out the community too quickly.

All the major builders in LR seem to be doing the same thing unfortunately because of labor shortages and pent up demand over the last 9 months.
Several builders like Taylor Morrison and Pulte and Lennar have resorted to only releasing a few lots and now they have a process called “Easy Offer” or similar period whereby over several days a buyer can “bid” against other potential buyers on lot.. the builder gives the “suggested homesite premium”...
It is a crazy market with the cost of lumbar increasing, appliance shortages, and construction labor shortages!
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Old 04-26-2021, 08:21 PM
 
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Quote:
Originally Posted by lovetotravel15 View Post
All the major builders in LR seem to be doing the same thing unfortunately because of labor shortages and pent up demand over the last 9 months.
Several builders like Taylor Morrison and Pulte and Lennar have resorted to only releasing a few lots and now they have a process called “Easy Offer” or similar period whereby over several days a buyer can “bid” against other potential buyers on lot.. the builder gives the “suggested homesite premium”...
It is a crazy market with the cost of lumbar increasing, appliance shortages, and construction labor shortages!

The lumber prices and shortages is probably a big reason building has slowed to a halt in some areas. If builders build at a torrid pace like they were they'd be losing money shelling out 30 percent higher cost on lumber. I think it's even higher than that now. If lumber prices keep going up I'd expect building to slow more.


I know in this area I noticed most of the developments have literally been halted. I drive by the last few months and hardly anything has been done. Lots sit vacant and homes being built sit idle or going very slowly.


My mom's friend recently moved back to Philly.


The house she bought had 15 bids but she somehow won and got a decent price.


So it's just not FL that has this problem.
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Old 04-28-2021, 04:56 PM
 
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Recently I've noticed a few homes come back on the market. Financing fell through. Looks like the homes may not be appraising for what the buyers are offering. Or at least enough to cover the loan.
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Old 04-28-2021, 10:31 PM
 
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Originally Posted by macrodome2 View Post
Recently I've noticed a few homes come back on the market. Financing fell through. Looks like the homes may not be appraising for what the buyers are offering. Or at least enough to cover the loan.
Location?
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Old Yesterday, 06:18 AM
 
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Quote:
Originally Posted by loves2read View Post
Location?
Venice, Nokomis. I saw them in an alert from Redfin.com.
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Old Yesterday, 09:45 AM
 
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Quote:
Originally Posted by macrodome2 View Post
Venice, Nokomis. I saw them in an alert from Redfin.com.
https://www.redfin.com/FL/Venice/134...5fbnVtYmVyPTE=
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Old Yesterday, 09:53 AM
 
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I've been following a new subdivision in Palmer Ranch for the past 4 months. Base cost on homes has increased ~ 40K and lots are now up for bidding. On top of that they are not releasing lots so you need to wait till one becomes available and who know what the base price would be at that time.

Sure is a crazy environment
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Old Yesterday, 08:14 PM
 
31 posts, read 5,563 times
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Nay, it's stupid to chase a housing market, or any market !
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Old Yesterday, 10:31 PM
 
32,750 posts, read 51,611,518 times
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Quote:
Originally Posted by Flo Owens View Post
Nay, it's stupid to chase a housing market, or any market !
We are in DFW TX area now where our main home in. It goes on market tomorrow. Hope it sells for good price sooner than later cause we are coming to Fl home full time.
Who,am who,does my pedicure tells me one of her clients has friend who was house hunting in our TX area. They bid 70k over ask and got the house. Found after closing that sellers had installed instant hot water heater inside a wall...big mistake...leaked, grew mold, rotten wood...all the bad stuff
Now they are stuck
Options are to sue (and maybe waste more money) or suck it up...
Their ins likely won’t cover as preexistimg failure and inspection obviously didn’t catch it
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Old Today, 03:21 AM
 
214 posts, read 107,022 times
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No large purchase, no less a home should be done without careful research and thought.
I would think overpaying by 70K as in lovestoread post would result in buyers remorse when the dust settles after the closing. I have been told that many are renting or buying without ever seeing the area, neighborhood. Very unwise in my opinion!
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