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UF ALUM
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Keep those prices coming down and watch those sales go up!
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RealityTV
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Stilly?
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John
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Funny when some positive news about home sales come out no one says anything. If this was another story about doom and gloom there would be 100 posts on this topic by now.
Housing fuels the economy...it's best for EVERYONE that the housing crisis get's behind us.
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How Exciting
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FANTASTIC NEWS .... best news in quite awhile.
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Interested
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There is no crisis for those non-investors who actually plan to remain in their homes a while. The only crisis is with investors and wanna be investors. The problem is that when you invest, you may lost money.
Let's put it this way: A crisis is always created when the few are successful and others jump on. That is to say:
-When real estate was hot, everyone and their brother was a real estate investor. It did not matter where I went - the bank, Publix, Wal-Mart, I always overheard conversations of someone talking about how they were the real estate expert and printing money.
-When the dot-com boom occurred, everyone received stock options. Everyone was rich, everyone was creating this new web site that was going to be sold to Microsoft for millions.
Another example?
-During the early 90s of the OJ Simpson trial (yes I know this has nothing to do with economics - but everything to do with my main point above), everyone became a legal eagle and knew more than the attorneys practicing in the courtroom.
Sometimes a cooling off period is good because it's the only way to convince people that their new career might really be a big mistake - for them.
Enough said?
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Rick
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WOW! Amazing, prices go down and sales go up. Why didn't I think of that?
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overtaxed
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Yes, any positive news, no matter how minute, is just that,... positive news.
A small step in the right direction.
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djs
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Don't be misled by stats published by the realtor association saying the number of ava. homes fell slightly. If you talk to the people in mortgage financing they say the drop is due to familys simply giving up and walking away from their homes as they are so upside down.
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Reader
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4% sales price decline in 1 month??? I think the bottom in prices has yet to be hit.
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Chris in Orlando
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djs wrote: Don't be misled by stats published by the realtor association saying the number of ava. homes fell slightly. If you talk to the people in mortgage financing they say the drop is due to familys simply giving up and walking away from their homes as they are so upside down. Keep those prices going down! I'll make a simple prediction.... When the prices fall in line with the salaries that people are getting paid in this area, then sales will shoot back up. This problem was created by people wanting way more home that their salary could realistically handle. It certainly doesn't help that homes are now priced assuming dual-income, which is great if you are married and both people earn good money. That is not so great when one person loses their job for any reason or for single people looking for a decent home. Let this 'crisis' continue until normal working people can afford a decent home again.
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Real Truth
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Orlando; it's the new and improved Detroit!
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Doug
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Actually - even the wall street guys (not realtors) are saying they think the bottom is being hit. They said it may take awhile to turnover all the sales now, but they think the decline is done in most places. They have also seen an opening up of the credit lines now that banks, etc have put in more stringent controls on loaning. The problem is not resolved, but I think the corner should be turned in the not too distant future. I know I keep getting a ton of offers to loan me money for homes - and I am not even trying to buy (or sell) a home! Reader wrote: 4% sales price decline in 1 month??? I think the bottom in prices has yet to be hit.
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Investors Suck
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The problem was not only created by people wanting way more home that their salary could realistically handle but more so by investors who drove the prices of homes up to absurd levels over the past several years, like those A-holes on all those "Flip This House" shows on cable. There was one house in our neighborhood whereby the value was increasing so fast that it was sold four times in three years, each sale worth more than the last. The house was purchased for $92,000 and by the last sale it sold for $315,000, with very little improvements. All turned over and sold by investors. Good riddance to those a-holes. I hope they never come back. A house is meant to LIVE in.
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Fats
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Take the price of what the house sold for around 2000-2002 and add no more than a 6 percent year over year gain and that should be the ball park of how much to pay. Houses built in 1996 for 130k can no longer demand 350k let alone 250k anymore.
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weez
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Whats your favorite quote: Soft landing, buy now or be priced out for ever, they are not making any more land, never a better time to buy, and my favrite "we are at the bottom" lol.
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Not very smart
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Fats wrote: Take the price of what the house sold for around 2000-2002 and add no more than a 6 percent year over year gain and that should be the ball park of how much to pay. Houses built in 1996 for 130k can no longer demand 350k let alone 250k anymore. Using your own numbers: 1996 home for 130K 6% increase per year through 2008 The value would now be $261,585.54 Your let alone 250K anymore statement isn't quite true when you run the numbers instead of flapping your gums.
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Long time observer
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I think a lot of folks owe local realtor an apology.
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UCF Alum
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Average days on the market decreased by 7 days!
500 more homes are pending this month over last month.
New contracts increased by 20% in 1 month.
Less inventory in April from March
Glad I'M A HOME OWNER AND NOT A RENTER
New Realtor slogan is GOT DEED?
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okw
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A 4% increase in inventory is 1000 homes more - a full months inventory. Bottom has not yet been reached.
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Fats
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Not very smart wrote: <quoted text>
Using your own numbers:
1996 home for 130K
6% increase per year through 2008
The value would now be $261,585.54
Your let alone 250K anymore statement isn't quite true when you run the numbers instead of flapping your gums. Can the tard read? It says take the price sold in 2000-2002 and add no more than 6 percent not 1996. The houses that sold for 130k in 1996 sold for 150-160k in early 2000s.
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Judge it!
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