Real Estate Values - Are They Starting To Stabilize Or Even Slide Up There?

[Rome]

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.

[Wingspan]

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.

[Geowhizzer]

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.

[MadMarchHare]

In Lake County, IL, the prices are still artificially high.  Growth in the area is ridiculous.

[PoopyfaceMcGee]

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.

[Rome]

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.

[PoopyfaceMcGee]

She lived in Wyndmoor for years and this is her house:

Pretty damned reasonable, actually.

1,205 sq ft for $244k?  HAHAHA  Reasonable, my ass.

[Feva]

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.

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.   

[Philly_Crew]

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).

[PoopyfaceMcGee]

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.   

I'll give you $15 for it, as long as you still pay the closing costs.

[phattymatty]

If my calculations are correct, each square foot of land in the DC suburbs goes for $10,563.45 each.

[MadMarchHare]

A buddy of mine just sold his (maybe) 1200 sq ft condo for about 400K in Springfield, VA.  farging DC suburbs are ridiculous.

[phattymatty]

There are zero bedroom studios a block away from me selling for over 500K.

[PhillyGirl]

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.

Reasonable?

[Geowhizzer]

I looked up some property in my old stomping grounds (Chester County).  Heck of a lot cheaper there than down here in Hurricane Alley.