questionable motivation of sellers

[rapunzel]

Dear Sir,

You are so right about your comment. The thing that I am trying to stop happening is starting to happen in my area. There is a townhouse on grand lagoon which is in foreclosure and the bank is asking $120,000 for it.

The problem with this is because of Realtors wanting to low ball everything the offers on the property as of now from what I know is $80,000. This hurts everyone who has bought property on the lagoon in the last few years. My fear is we are just starting to see the beginning of a market which is not realistic.

My fear, sir, is that we'll never see the end of a market that has not been realistic for some time now. If all the buyers are scared off by the volatility, then it only depresses values further, longer.

If you broke your leg, would your prefer the doctor reset it quickly in one blinding jolt of pain, or gradually realign it with a week of slightly less painful traction? It's sort of the same thing.

 

[2bfabian]

You definitely have a very valid point. Like many others, I believe many things are effecting this market. I have just tried to in some way bring the discussion to the table.

There are many valid points that are being made on this subject and I believe through dialog we will come to some sort of consensus of how to walk our way out of this depressed market.

Thank you for you courteous remarks.

 

[scooterbug44]

There are tons of things currently affecting the real estate market. New insurance requirements and prices, stricter lenders, a much needed reality check on skyrocketing prices, people who got greedy flipping and got left w/o a chair when the music stopped, people who think they own a gold mine instead of swampland, St. Joe dumping properties etc.

I'm hoping that buyer's are just being cautious and are waiting to see what happens with this year's hurricane season and mortgage issues.

Regardless of the market, there are always less than honest sellers and agents. Human nature.

 

[flyguy]

There are tons of things currently affecting the real estate market. New insurance requirements and prices, stricter lenders, a much needed reality check on skyrocketing prices, people who got greedy flipping and got left w/o a chair when the music stopped, people who think they own a gold mine instead of swampland, St. Joe dumping properties etc.

I'm hoping that buyer's are just being cautious and are waiting to see what happens with this year's hurricane season and mortgage issues.

I fit your description. I am a 47 year old boomer who wants to buy a beach condo for a second home. I can afford it now but see no reason to move into the market yet. I am tracking prices at several properties I am interested in. Almost every week a condo in one of the units hits a new low price.

Add to that a stong hurricane season forecast, insurance and taxes still rising and I just can't see pulling the trigger at least until the fall.

Prices could start up today and never look back, but based on the current trend, I personally just don't see it happening. (And thanks to Kerry the "Wired Agent" for making the trends much easier to track.)

Flyguy

 

[2bfabian]

I fit your description. I am a 47 year old boomer who wants to buy a beach condo for a second home. I can afford it now but see no reason to move into the market yet. I am tracking prices at several properties I am interested in. Almost every week a condo in one of the units hits a new low price.

Add to that a stong hurricane season forecast, insurance and taxes still rising and I just can't see pulling the trigger at least until the fall.

Prices could start up today and never look back, but based on the current trend, I personally just don't see it happening. (And thanks to Kerry the "Wired Agent" for making the trends much easier to track.)

Flyguy

Dear Sir,

Thank you so much for helping us understand your concerns on the real
estate market right now. For many of you looking for a place on the water there is a place on grand lagoon which has boat slips and is a fix er upper.

It's in foreclose right now and the bank has been offered I believe 81,000 dollars. There asking 120,000. There is potential for a good profit,but the townhouse needs work. I would not be surprised to see this play sell in the next couple of days for possibly 85,000. It's approximately one mile from
capt. Anderson's and would be great as a place to come and crash on weekends.

Hell, If we got to hit bottom here is a start. If anyone is interest PM soon because I don't think it will last at that price.

and no I am defiantly not a Realtor as you may already know. But if your a bottom feeder I guess here is one for you to look at for right now.