Bidding Wars Now Happening For Tampa Bay Homes! (foreclosures, how much)

[The Villages Guy]

Originally Posted by gypsychic

Hey, can I get in on the fun? Here is an article in Sarasota herald today - Sarasota is the #10 destination in the NATION where people are moving to: My little city is growing too fast!

Sarasota area in Top 10 of places to move to | HeraldTribune.com

Orlando is #3! This is according to Penske Truck Rental.

Also, December was a banner month here for million-plus $$$ home sales:

December a high point for $1 million-plus home sales | HeraldTribune.com

Cool!

[The Villages Guy]

Originally Posted by algia

A "sale/listing" price is only as good as the appraisel. If the house doesn't appraise good luck with your listing price.

Correct. And they have been appraising fine in our neighborhood.

[The Villages Guy]

Originally Posted by EngGirl

It's a documented fact done by realtors and people who depend on this business... And they keep saying it over and over again.... it's a best time to buy a house... I hear it fron 2004.... on and off..

As for bidding less - if the house listed for let say 200K, 99% offers are for no more than 180K and the bidding starts when sellers asks for "best and highest offer" - this is where buyers start offering more that 180K, but asking for closing cost or appliences allowance... Some offers are getting selected based on higher downpayment...

I suggest you read less reators fancy articles and start tracing real houses and you will notice that most of them are getting sold below asking price, but before that call isting agent and ask if multiple offers received...

LOL

The sales prices are a matter of public record. Realtors cannot alter those. They are what they are.

Again, multiple buyers do not bid the price down. They bid them up from where the first one starts. That is bidding 101. I never said they would always bid over ASKING. I said they bid up, which means it would go from 180 to 182 to 184, etc. The end sales price will end up higher than it otherwise would with only one buyer.

The point is there is less inventory to choose from (FACT), bidding wars are starting (FACT) and homes are appreciating (FACT).

Now this does not mean it is like this in every single neighborhood, in every single town. No one is claiming that.

[Spring Hillian]

Originally Posted by D-R-B

How is it dated?........are you saying that this area is no longer this way?....it has changed?

Yes, it has changed. The FL economy has diversified over the years. There are other industries here besides tourism though tourism is our biggest asset and has been for a very long time. The entire
U.S. economy shifted to service industries a long time ago. IBM is a "service related" industry.
What industries would you like to see in our local economy? What industries are not here that you feel should be?

As far as I can tell, housing is important here because of the influx of new residents. The demand for new homes has greatly increased in the past few quarters. Thus the need for new housing continues and the "new housing starts" figures show it. Who is buying these new houses? I would think they are young people who work for a living in various trades and industries. Those people are having kids, improving houses, spending their money, etc.

Warm winters are prevalent in the SOUTH. Cheap living really no longer exists here.
I don't know what you consider "good jobs". Maybe you can enlighten me on that. What are these good jobs???

Public transportation is a subject that has been addressed in this state. Most cities have an extensive bus networks that connect not only within cities but to other counties. It is not like NYC or D.C. and it never will be.

Yes, we will continue to be the choice of retirees, transplants, sun-worshipers, and investors. There is a reason for that other than warm weather and beaches. 10 million people have been added to the Florida population since 1985.

The yarn about lousy schools in FL is also dead. Florida's public schools have returned to the top 10 in a national ranking at sixth place due to high marks for coordinating kindergarten through 12th grade education with early learning, post-secondary education and the state's workforce. Florida this year improved its grade for transitions and alignment from B-minus and 14th nationally to A and fourth place. Florida's student achievement was good enough to rank 12th nationally.
[LEFT]Read more here: TALLAHASSEE, Fla.: Florida schools 6th in Education Week rankings - Florida Wires - MiamiHerald.com[/LEFT]

Here are some facts about FL:

With 87.3 million visitors in 2011 (a record number), Florida is the top travel destination in the world.

The space industry represents $4.1 billion of the state's economy. Florida ranks 4th among the states in overall aerospace employment

Florida leads the southeast in farm income. Florida produces about 67% of the U.S.

This industry's strength results from the steady stream of new residents and visitors who are welcomed to Florida each year.

There has been growth in high tech, financial & back office operations

Software - many small, entrepreneurial companies

Health Technology (medical, biotech, laboratories)

University Research - more than $500 million per year in sponsored research at Fl universities.

[chi_tino]

Originally Posted by PriusH8r

LOL

The sales prices are a matter of public record. Realtors cannot alter those. They are what they are.

"Final asking price" and "days on market" are completely fabricated figures that any realtor can manipulate, because they do not need to be verified. That is also a fact. So.....when your local yokel realtor keeps claiming that sales are being made "above last asking price" and "within X days", those are just fictional, nonverifiable statements.

The home that I live in was purchased after being on the market for over 1,000 days. In the realtor database, the "days on market" corresponding to that particular sale was.....come on....you guessed it......zero.

[bentlebee]

I'm real estate pro and also an investor and we are getting bid out all the time...don't blame investors. Some buyers are very happy to make offers that are too high. We just lost 2 offers today since we know what is smart and what is too high.

Actually one of my kids wants to buy a home and lost all bids so far but she is very smart and will not over pay.

Losing out on a house is not the end of the world and many properties will be listed in the upcoming years of people being sick of staying at their home for longer than expected.

Som people involved in bidding wars as they are happening right now will be happy later on or regret it...

[bentlebee]

Originally Posted by chi_tino

"Final asking price" and "days on market" are completely fabricated figures that any realtor can manipulate, because they do not need to be verified. That is also a fact. So.....when your local yokel realtor keeps claiming that sales are being made "above last asking price" and "within X days", those are just fictional, nonverifiable statements.

The home that I live in was purchased after being on the market for over 1,000 days. In the realtor database, the "days on market" corresponding to that particular sale was.....come on....you guessed it......zero.

If you look up or have a realtor they can easily see the history of a house but I assume you didn't want to pay for a realtor so be a blamer instead of saying that you were saving money to hire a professional who could have given you the info and perhaps way more info you don't even have a clue about...

BTW agents can't change the days on the market, that is set automatically so the scam you claim is that it was taken off the market and relisted again....really criminal

If you were the seller wouldn't you try everything to get a place sold in a honest way and if that means that they took it off the market for a period of time for whatever reason it is not unethical.

What would you say about a piece of clothes that is shown as new collection and month later it has the same wording....

[The Villages Guy]

Originally Posted by chi_tino

"Final asking price" and "days on market" are completely fabricated figures that any realtor can manipulate, because they do not need to be verified. That is also a fact. So.....when your local yokel realtor keeps claiming that sales are being made "above last asking price" and "within X days", those are just fictional, nonverifiable statements.

The home that I live in was purchased after being on the market for over 1,000 days. In the realtor database, the "days on market" corresponding to that particular sale was.....come on....you guessed it......zero.

What are you talking about? Final asking price?

I said the final "sales" price......which is public record with the county.

[algia]

Originally Posted by PriusH8r

LOL

The sales prices are a matter of public record. Realtors cannot alter those. They are what they are.

Again, multiple buyers do not bid the price down. They bid them up from where the first one starts. That is bidding 101. I never said they would always bid over ASKING. I said they bid up, which means it would go from 180 to 182 to 184, etc. The end sales price will end up higher than it otherwise would with only one buyer.

The point is there is less inventory to choose from (FACT), bidding wars are starting (FACT) and homes are appreciating (FACT).

Now this does not mean it is like this in every single neighborhood, in every single town. No one is claiming that.

But they do! You can have 10 low ballers and one asking price. People will always try to bring the sales price down. Having multiple offers doesn't mean all offers are over the asking price.

[The Villages Guy]

Originally Posted by algia

But they do! You can have 10 low ballers and one asking price. People will always try to bring the sales price down. Having multiple offers doesn't mean all offers are over the asking price.

Once again, I am NOT saying the offers are over ASKING price.

I said multiple bidders do not drive the price DOWN.

I, as a seller, will take say the $500,000 offer on my house. I will not pass on that hoping for $490,000. If I get a second offer at $490,000, I then don't hope for an offer down to $480,000. That is silly.

I, as the buyer, knowing there are other offers on the table do not try to figure out how low I have to go to come in UNDER all the other bidders. I try to come in just over the others, so the seller takes MY offer, while trying to pay as little as I can get away with without losing the house.

Again, I have not and am not saying multiple bids means the house sells for more than ASKING.

I am saying multiple bids drives up the price from what otherwise would have been with only one buyer.

Have I made that clear enough or do I need to make it clearer?