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Old 11-12-2010, 10:31 AM
 
39 posts, read 138,542 times
Reputation: 24

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I live near Seminole Heights.

House across the street just went for short sale at 89K and there is one a few houses down going for 69K cash.

I don't owe alot on my house, but I was hoping I could at least sell for 105-115K.

This is crazy. A couple years back the house next door went for 220K.

I don't see any end in sight. The banks are extended foreclosures falsely representing a decline. I guess I'm just gonna have to lose money if I really want to sell.

Honestly, does anyone realistically think that home prices in Tampa will ever turnaround?
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Old 11-12-2010, 10:37 AM
 
Location: Spring Hill Florida
12,135 posts, read 15,103,448 times
Reputation: 6069
I think that eventually home prices are bound to rise, but I don't think we will see the prices gotten during the boom years. Let's face it, it got crazy. As the economy as a whole improves the value of homes will increase as the demand increases again. So many people are shut out of the housing market right now, lack of down payment, unable to secure mortgage, bad credit history, but after it finally bottoms out, if it hasn't already, it's going to rebound, but not quickly either.


Quote:
Originally Posted by allstardad View Post
I live near Seminole Heights.

House across the street just went for short sale at 89K and there is one a few houses down going for 69K cash.

I don't owe alot on my house, but I was hoping I could at least sell for 105-115K.

This is crazy. A couple years back the house next door went for 220K.

I don't see any end in sight. The banks are extended foreclosures falsely representing a decline. I guess I'm just gonna have to lose money if I really want to sell.

Honestly, does anyone realistically think that home prices in Tampa will ever turnaround?
Rate this post positively Quick reply to this message
 
Old 11-12-2010, 11:56 AM
 
265 posts, read 928,636 times
Reputation: 252
Its a tough scene, theres a palace like home in the Southshore area I saw last week. Sales price in 2006 was $2.2M and now its listed at $600K and it has absolutely no bids...
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Old 11-12-2010, 01:03 PM
 
Location: N.H Gods Country
2,360 posts, read 4,971,680 times
Reputation: 2000
Local "old time" realtor told me it woult be 6 to 10 years before things get back to where they were before the boom. You'll probablly never see those crazy prices again in this lifetime. A friend of mine just picked up a old Deltona style house in Spring Hill for $27,000 and there's no shortage of comparible places for sale. Who would have thought that a few years ago.

Last edited by Ken E; 11-12-2010 at 01:36 PM..
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Old 11-12-2010, 08:52 PM
 
23,772 posts, read 15,643,866 times
Reputation: 8323
My house on the gulf was worth 800k in 05 and can't sell for 200k now, so don't feel bad.
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Old 11-12-2010, 09:57 PM
 
683 posts, read 876,369 times
Reputation: 300
I can understand the frustration. This devaluation crisis isn't good news for most people and it has left many people somewhat stuck in places they no longer want to be.

My folks live in a senior community just outside of Tampa. They strongly desire to move but after losing so much equity they are lucky to get 10% over what they paid--and that was 10 yrs. ago! Some people reason that it is acceptable to sell low because they can buy low, but that is very dependent on where they are moving to. There are not too many places in the US where homeowners have taken a worse beating.

My folks will move--take their lumps and be glad to be gone. However at their age they will not be able to recover financially. A shame I say and certainly not their fault.
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Old 11-22-2010, 08:40 AM
 
Location: Tampa FL
186 posts, read 363,466 times
Reputation: 72
I have a house in Town and Country and we want to sell but we'll never get what we need. We lost two others to foreclosure and don't want to ruin what we have left, but I can't stand the thought of staying in this area anymore. Could rent out but not excited to be a landlord. I don't want to own a home anymore, ever.
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Old 11-22-2010, 09:00 AM
 
Location: Spring Hill Florida
12,135 posts, read 15,103,448 times
Reputation: 6069
You bought for 800k during the boom?


Quote:
Originally Posted by CHASLS2 View Post
My house on the gulf was worth 800k in 05 and can't sell for 200k now, so don't feel bad.
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Old 11-22-2010, 09:06 AM
 
Location: Spring Hill Florida
12,135 posts, read 15,103,448 times
Reputation: 6069
Yeah, I think 6-10 is a good quess. Certainly the prices were insane and I really don't see why anyone bought anything during that boom.

It was a great time to sell though.

At the 27k level I would think you're looking at a place that needs quite a bit of work or the seller is simply out of their minds.


Quote:
Originally Posted by Ken E View Post
Local "old time" realtor told me it woult be 6 to 10 years before things get back to where they were before the boom. You'll probablly never see those crazy prices again in this lifetime. A friend of mine just picked up a old Deltona style house in Spring Hill for $27,000 and there's no shortage of comparible places for sale. Who would have thought that a few years ago.
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Old 11-22-2010, 09:12 AM
 
Location: Spring Hill Florida
12,135 posts, read 15,103,448 times
Reputation: 6069
I looked at MLS and at that price range I find lots. Yes, empty lots. For that price you are certainly buying yourself a major rehab job.


Quote:
Originally Posted by Ken E View Post
A friend of mine just picked up a old Deltona style house in Spring Hill for $27,000 and there's no shortage of comparible places for sale.
Rate this post positively Quick reply to this message
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