I've recently noticed that real estate values here in the Daytona Beach area have started to stabilize if not outright decline in the past couple of months.
Last year at this time, there were roughly 1,200 active listings in the Daytona MLS for residential properties.
This year, there are close to 4,700 active listings. That is a bad sign in terms of value stability, especially in a resort area like this.
I was curious if the same thing is happening where other folks live, specifically in the Delaware Valley. I spoke to a buddy of mine in Sea Isle and he said things have absolutely ground to a halt there. There are so many properties for sale at this point, people are starting to jump at any offer that comes their way.
they're coming back to earth, at least in my area....last fall when we bought out house, we thought we'd never have a chance at it because we underbid.
two days later, the offer was accepted.
in my development, there were identical house models selling for $20,000-$35,000 more than what we paid. the signs have been there since last august, and 3 are empty. the took them off market, lowered the price, and put them back, IMO they need to come down more (still higher than we paid, but they do have some upgrades over us). and we agreed to look past a few expensive cosmetic flaws in the house (we replaced the carpet, and tile in 2 bathrooms (that only had linoleum in them)) in order to keep the price down.
there are houses that seem to have a permanent for sale sign in front of them. they are nice homes, but these people are trying to turn almost 100% profit on some of these houses. (orginally sold by the developer for around $220,000, now listed at close to $400,000 in 8 years, that seems nuts to me, we didnt nearly pay that much.
They're slowing down in Naples, but prices haven't started coming down... yet.
It'll have to at some point. I built my house in 1998 for $110,000 (2.5 acres). Identical houses were selling last year for $400,000+.
Just crazy.
In Lake County, IL, the prices are still artificially high. Growth in the area is ridiculous.
Wake County, NC... Values are increasing rapidly. The area is growing just as rapidly.
I hope values in the Philly area stabilize/drop over the next year or two, so I can *consider* moving home.
I was browsing through Realtor.com for houses in the Abington, Cheltenham, Jenkintown and whose house do I come across but my Aunt Helen's. She hasn't lived there in like 30 years but I recognized it immediately.
She lived in Wyndmoor for years and this is her house:
Pretty damned reasonable, actually. (http://realtor.com/FindHome/HomeListing.asp?snum=17&frm=bymap&pgnum=2&mls=xmls&js=on&fid=so&vtsort=&ss_aywr=&poe=realtor&areaid=73047&ct=glenside&st=PA&zp=&primaryZp=&nearbyZp=&mnprice=0&mxprice=500000&mnbed=0&mnbath=0&typ=1&mnsqft=0&exft=0&exft=0&exft=0&exft=0&lid=Enter+MLS+ID&sid=063D0AF38AC3C&snumxlid=1054124367&lnksrc=00001)
Quote from: Jerome99RIP on March 02, 2006, 12:49:32 PM
She lived in Wyndmoor for years and this is her house:
Pretty damned reasonable, actually. (http://realtor.com/FindHome/HomeListing.asp?snum=17&frm=bymap&pgnum=2&mls=xmls&js=on&fid=so&vtsort=&ss_aywr=&poe=realtor&areaid=73047&ct=glenside&st=PA&zp=&primaryZp=&nearbyZp=&mnprice=0&mxprice=500000&mnbed=0&mnbath=0&typ=1&mnsqft=0&exft=0&exft=0&exft=0&exft=0&lid=Enter+MLS+ID&sid=063D0AF38AC3C&snumxlid=1054124367&lnksrc=00001)
1,205 sq ft for $244k? HAHAHA Reasonable, my ass.
Quote from: Jerome99RIP on March 02, 2006, 12:49:32 PM
I was browsing through Realtor.com for houses in the Abington, Cheltenham, Jenkintown and whose house do I come across but my Aunt Helen's. She hasn't lived there in like 30 years but I recognized it immediately.
She lived in Wyndmoor for years and this is her house:
Pretty damned reasonable, actually. (http://realtor.com/FindHome/HomeListing.asp?snum=17&frm=bymap&pgnum=2&mls=xmls&js=on&fid=so&vtsort=&ss_aywr=&poe=realtor&areaid=73047&ct=glenside&st=PA&zp=&primaryZp=&nearbyZp=&mnprice=0&mxprice=500000&mnbed=0&mnbath=0&typ=1&mnsqft=0&exft=0&exft=0&exft=0&exft=0&lid=Enter+MLS+ID&sid=063D0AF38AC3C&snumxlid=1054124367&lnksrc=00001)
If that's reasonable to you... come buy my house. It's 4 BR, 2.5B... 2,350 sq ft... and because you're my boy, you can get in it for a deal. Say $650K? I'll even pay closing costs. :paranoid
My step-father is a real-estate appraiser just outside of NYC. Said the market died up into Putnam county but is starting to show life again.
Real Estate is still active here in Virginia (especially northern Virginia).
Quote from: EagleFeva on March 02, 2006, 01:11:05 PM
If that's reasonable to you... come buy my house. It's 4 BR, 2.5B... 2,350 sq ft... and because you're my boy, you can get in it for a deal. Say $650K? I'll even pay closing costs. :paranoid
I'll give you $15 for it, as long as you still pay the closing costs.
If my calculations are correct, each square foot of land in the DC suburbs goes for $10,563.45 each.
A buddy of mine just sold his (maybe) 1200 sq ft condo for about 400K in Springfield, VA. farging DC suburbs are ridiculous.
There are zero bedroom studios a block away from me selling for over 500K.
Quote from: Jerome99RIP on March 02, 2006, 12:49:32 PM
I was browsing through Realtor.com for houses in the Abington, Cheltenham, Jenkintown and whose house do I come across but my Aunt Helen's. She hasn't lived there in like 30 years but I recognized it immediately.
She lived in Wyndmoor for years and this is her house:
Pretty damned reasonable, actually. (http://realtor.com/FindHome/HomeListing.asp?snum=17&frm=bymap&pgnum=2&mls=xmls&js=on&fid=so&vtsort=&ss_aywr=&poe=realtor&areaid=73047&ct=glenside&st=PA&zp=&primaryZp=&nearbyZp=&mnprice=0&mxprice=500000&mnbed=0&mnbath=0&typ=1&mnsqft=0&exft=0&exft=0&exft=0&exft=0&lid=Enter+MLS+ID&sid=063D0AF38AC3C&snumxlid=1054124367&lnksrc=00001)
Reasonable? (http://img.photobucket.com/albums/v410/SamiB/Smilies/blink.gif)
I looked up some property in my old stomping grounds (Chester County). Heck of a lot cheaper there than down here in Hurricane Alley.
Quote from: PhillyGirl on March 02, 2006, 02:38:30 PM
Quote from: Jerome99RIP on March 02, 2006, 12:49:32 PM
I was browsing through Realtor.com for houses in the Abington, Cheltenham, Jenkintown and whose house do I come across but my Aunt Helen's. She hasn't lived there in like 30 years but I recognized it immediately.
She lived in Wyndmoor for years and this is her house:
Pretty damned reasonable, actually. (http://realtor.com/FindHome/HomeListing.asp?snum=17&frm=bymap&pgnum=2&mls=xmls&js=on&fid=so&vtsort=&ss_aywr=&poe=realtor&areaid=73047&ct=glenside&st=PA&zp=&primaryZp=&nearbyZp=&mnprice=0&mxprice=500000&mnbed=0&mnbath=0&typ=1&mnsqft=0&exft=0&exft=0&exft=0&exft=0&lid=Enter+MLS+ID&sid=063D0AF38AC3C&snumxlid=1054124367&lnksrc=00001)
Reasonable? (http://img.photobucket.com/albums/v410/SamiB/Smilies/blink.gif)
actually, it is. especially for that lot size.
unless the bedroom dimensions are 8x8...totally reasonable.
Quote from: FFatPatt on March 02, 2006, 01:02:50 PM
Quote from: Jerome99RIP on March 02, 2006, 12:49:32 PM
She lived in Wyndmoor for years and this is her house:
Pretty damned reasonable, actually. (http://realtor.com/FindHome/HomeListing.asp?snum=17&frm=bymap&pgnum=2&mls=xmls&js=on&fid=so&vtsort=&ss_aywr=&poe=realtor&areaid=73047&ct=glenside&st=PA&zp=&primaryZp=&nearbyZp=&mnprice=0&mxprice=500000&mnbed=0&mnbath=0&typ=1&mnsqft=0&exft=0&exft=0&exft=0&exft=0&lid=Enter+MLS+ID&sid=063D0AF38AC3C&snumxlid=1054124367&lnksrc=00001)
1,205 sq ft for $244k? HAHAHA Reasonable, my ass.
That would be reasonable for Wyndmoor at this point, my man.
Well, unless you were planning on moving to North Philly, say around Broad & Chew?
:fire :o
Quote from: Jerome99RIP on March 02, 2006, 03:35:07 PM
That would be reasonable for Wyndmoor at this point, my man.
That's my point, douchenozzle. What's currently "reasonable" for that area is not very reasonable.
Quote from: MadMarchHare on March 02, 2006, 02:16:41 PM
A buddy of mine just sold his (maybe) 1200 sq ft condo for about 400K in Springfield, VA. farging DC suburbs are ridiculous.
They are a farging joke. Some fargface realtor was trying to convince me and my wife that some glorified row-home in Old Town Fairfax was worth 750k. Fortunately, my company is moving me to a site down in Fredericksburg, so we can actually afford to buy something, unfortunately, it's even farther from Philly.
The one upside is, with the impending doom facing the taterskins maybe enough of the fans in this shteinhole will off themselves to make the market go on a bender.....
Quote from: FFatPatt on March 02, 2006, 01:54:54 PM
Quote from: EagleFeva on March 02, 2006, 01:11:05 PM
If that's reasonable to you... come buy my house. It's 4 BR, 2.5B... 2,350 sq ft... and because you're my boy, you can get in it for a deal. Say $650K? I'll even pay closing costs. :paranoid
I'll give you $15 for it, as long as you still pay the closing costs.
If by $15, you mean $650K... sold.
If by $650k, you mean $3.50, sold.
I'll let the two of you split the rest of my peanut butter sammich if you'll shut the farg up.
Why don't you put your DVD player inside it and feed it to the dog?
Then feed the remote to the dogs your sorry ass will no doubt be dogsitting this weekend.
All I know is that I was looking at houses up here and they are expensive as hell compared to what they were in Texas. When the time comes for me to buy a house it won't be in Chester County and maybe I'll even move back down south.
Hell, even rent is expensive up here. I was looking at apartments and was shocked at the prices of them. This one place that is a bona fide hellhole was $900 a month.
I had 3 different apartments in Texas. The most exepnsive one was in Austin and it was a 4 bedroom joint and almost brand new and we got it for $900 a month.
Me and my girl paid $500 for a 2 bedroom 2 bathroom place in Huntsville. And my other place I padi $585 for and it was a 2 bedroom.
Then we rented a 3 year old house that had 3 bedrooms, 2.5 baths, 2 car garage and a bunch of other shtein and it was only $725 a month.
Up here a 3 bedroom house goes for like $1500.
2 Bedroom in Naples can go over $1,000. That is, if you can find one. Many of the apartment complexes, including the one I lived in (2 bedrooms at $700 per month in 1995), are going condo. When you can get $300,000+ for a condo, I guess I can't blame them.
Freaking ridiculous.
Here's a good one:
"Napoli Luxury Condominium"
Plus: Furnished.
Minus: When they say, "minutes" from the Gulf, forget walking. It's across THE main road in Naples, a six-lane highway (Rt. 41).
Minue: $1800 per month. Rent.
I love when they mention that it has air conditioning. Better darn well have A/C in Southwest Florida.
So Mrs. Dio and I are gonna buy a house.
Very exciting, I know, thanks for your good wishes.
But I have no fargin' idea what I'm doing, so I'm going to bank everything on the advice you fools offer me, and I couldn't find a more appropriate thread than this one.
First question...when looking at listings I have seen the following line a few times, and I don't know what it means.
"Buyer to provide financials."
Here's another one:
"Listing Broker To Hold Deposit."
wtf is this shtein??
God help you.
The first means that you have to provide all of your financial history. The second means that you have to put a deposit down when you make an offer, and the seller's agent will hold that until closing if the offer is accepted.
Quote from: FastFreddie on June 08, 2008, 06:22:06 PM
The first means that you have to provide all of your financial history.
Even the Klecko bet with
vigy?
But seriously FF...it means we have to provide all of our financial history...to whom? And why? Is there some kind of difference between these listings and others that don't explicitly say as much?
Not really. What you should actually do is shop for a mortgage lender before a house. You can figure out how much you can afford and "pre-qualify" (and get a letter proving as much). So, the financials are then moot, because you've already proven someone's dumb enough to lend you the money you need to buy a certain amount of house.
And the deposit you put down is up to you - if you're going to low-ball the offer, you might want to try a bigger deposit to entice the buyer. Ultimately, if they don't accept your offer, your check never even gets deposited.
dio peep this
http://www.homesdatabase.com/cgi-bin/aa.fcgi?+NTAwMGFiYzcxYTZmMWQzOTBkY2JkMzViNmNjNGEyOGMSlI0iZbI78etCOGgJJ6r3K%2fVmVte4iATW53bKEL9a+i%2fwLczVT3byEv+CgCh6f1rNJfUZcCO2EVmh
Sean Taylor's house is available.
So is Evander Holyfield's.
Ed McMahon's as well.
Quote from: FastFreddie on June 08, 2008, 08:52:14 PM
Not really. What you should actually do is shop for a mortgage lender before a house. You can figure out how much you can afford and "pre-qualify" (and get a letter proving as much). So, the financials are then moot, because you've already proven someone's dumb enough to lend you the money you need to buy a certain amount of house.
I think I get it, thanks. We're already pre-approved at a certain amount through a mortgage broker, with a letter to that effect in hand, so I guess I'm on the right track.
I only wish things were as good now as they were when I started this thread.
Good Christ things are horrendous in the real estate game here in the Daytona area. A full blown depression, actually.
You're not as dumb as the Germans would have us believe, Dio.