Big Investors Leaving... (Tampa, Spring Hill: 2nd mortgage, buying a house, buyer)

[bentlebee]

Originally Posted by vaughanwilliams

Not even close to being factual. I'd say run away home owners/flood insurance will be what hurts the housing market.

Like all homes are in flood zone areas and like all home owners are not able to afford it or have to pay for it...I know it will hurt a part of the market especially closer to the beaches but many areas are outside flood zones and many investors bought cash and are not dealing with that issue either. The you have the more wealthier people who can afford it...yes some people will be hurt but to act like the entire housing market is hurting is not true and like fear monger tactics.

[JoJoCal19]

Originally Posted by bavariantransplant

In the neighborhoods I have been looking in across the board most builders were planning a price increase on October 1st and I confirm 2 of the builders I was serious with have in fact increased. I am sure some have decreased, probably due to overzealous pricing coming from misguided new home projections coming into the Summer last year.

As a matter of fact that is exactly the situation in at least one of the neighborhoods I've looked in. When they were in pre-build sales they were at $220,000 plus. I just looked and they are now starting in the $180s.

Originally Posted by EngGirl

We changed our mind to build a new house (thanks God!) after builder's sales person was calling us every single day and say "hurry up, we are going to increase prices next week"... And they were doing it till the summer, and since then their sales went down. Now they have a bunch of inventory home for sale and are happy to negotiate the price (which will be way lower than base model price).

In my opinion builders went "all in" and increased their prices over the limit most people can even afford in these areas. There should be some balance between expectations and reality and most builders still expect too much. Even though inventory is very slow, builders are not doing great. They are talking opposite based on last year data when their prices were 20-30% lower and the market was hot (low interest rate, no PMI if less than 20% down for FHA loan and relatively low prices)

Yea it's pretty bad some of the overpricing I've seen by builders in some neighborhoods. And I agree that it is over the limit of what people can really afford, given the neighborhood. I checked out a sold build in a neighborhood by Ryland and was appalled at the quality for the price. I told my wife "NOPE". I actually am in a state of regret of selling our house in St. Augustine.

[bavariantransplant]

Originally Posted by JoJoCal19

As a matter of fact that is exactly the situation in at least one of the neighborhoods I've looked in. When they were in pre-build sales they were at $220,000 plus. I just looked and they are now starting in the $180s.




Yea it's pretty bad some of the overpricing I've seen by builders in some neighborhoods. And I agree that it is over the limit of what people can really afford, given the neighborhood. I checked out a sold build in a neighborhood by Ryland and was appalled at the quality for the price. I told my wife "NOPE". I actually am in a state of regret of selling our house in St. Augustine.

I personally have not come across any builders/communities with that sort of pricing adjustment, then again I am looking at a different price point. I have (as of this evening) 3 examples of price increases from the Tampa Bay area with each of these subdivisions selling lots at a good rate.

20% price adjustment down, seems bizarre in comparison to current local and national trends. I wouldnt lost sleep over it, seems you have self discovered buying new is not what you want. Coming to these conclusions is the hard part!

[EngGirl]

Originally Posted by bentlebee

Have you heard of CMA's and able to get some background info realtors have access too....of course there might be something that makes the value to be less or even higher when you actually see it but Seven Oaks is pretty stable and when it is not a sinkhole home then the rest usually is cosmetic.

Yeah, write... just cosmetic. That's why I don't like realtors in general.
There could be major issue not related to sink hole. And besides that Mercedes Homes did a very bad job, just google and read complains

[bentlebee]

Originally Posted by EngGirl

Yeah, write... just cosmetic. That's why I don't like realtors in general.
There could be major issue not related to sink hole. And besides that Mercedes Homes did a very bad job, just google and read complains

Is this a serious answer...? I'm not your realtor and you don't like any realtor because you know it better then all of them together!

All you said without proof if that the house was overpriced, etc...and like you know what was said between the agent and the seller.

I just looked online at some facts and wrote something about it stating I didn't see the house ....and now you try to make it look like I advise clients from behind my computer like your facts and statements are on this forum....If I would have bee the agent I would see a home and run some stats and go from there...all I did now is check if it was a sinkhole home and or signs of Chinese drywall and what the value COULD be...so don't change the story to make it your facts!

You may not need a realtor but that doesn't mean others have knowledge and can be taken if they don't get advise. This is a free country and aside from some professionals nobody has a clue who is writing a blog and what their financial situation is and if anything they write is true or just a person who has too much time and making up stuff!

Maybe the seller wants to write off the sale of the house and is willing to take less because they are in need for cash...that doesn't mean you know it isn't worth it.....

[Red3311]

Originally Posted by bentlebee

Is this a serious answer...? I'm not your realtor and you don't like any realtor because you know it better then all of them together!

All you said without proof if that the house was overpriced, etc...and like you know what was said between the agent and the seller.

Realtors arent ALL BAD, they do help with the home buying process, but of course its in their nature to SELL the home by any means necessary.

[LKJ1988]

Originally Posted by PriusH8r

That and all the millionaires who chose it as well, plus being noted in multiple write-ups.

And heck, you don't even know which neighborhood, so you really have no idea.

I can say the same about you. Back in May you said i got rain without even knowing where i lived and the fact was, i got not not a drop. Kinda funny.

[LKJ1988]

Originally Posted by Not_liking_FL

Premier in your mind not mine. That's a fact.

It's no Danashores.

[LKJ1988]

Originally Posted by vaughanwilliams

Not even close to being factual. I'd say run away home owners/flood insurance will be what hurts the housing market.

It will get hurt worse than it is in west Pasco west of US19. All these little run down 2bedroom shoeboxes that are only worth about 20k will soon be worth nothing once flood Ins rates reset. These poor people can't afford anything as it is and once they have to pay 10k + a year for flood Ins that will be the end for them.

[Spring Hillian]

Originally Posted by PriusH8r

Tampa Bay home prices are still 25% below their pre-crash highs. Plenty of room to go. This data is contained in previous links.

The pre-crash prices were madly inflated. It is time to get us back to the normal levels which were in 2000, 2001, 2002.