Quote:
Originally Posted by Robbb
I am looking for a home in the Villages but am getting very discouraged over the very recent increase in prices, are these for real?. I looked at a home this morning that sold for 345K in April, today it listed at 700K, this is insanity. I can't believe people are really buying this stuff.
|
Re: prices for homes, you can ask whatever you want. The question is what do you sell it for. We I guess like all people have experience, not much but some experience buying homes, selling homes and shopping for homes. Frankly home costs are going up everywhere. First of all there is high demand due to low mortgage rates, and there is also higher building costs, higher cost for land, causing a shortage of new housing stock. A home that sold for 345 and now listed at 700. Obviously a lot of missing details. Assuming it is really worth the 700,000. It is possible someone put a lot of money into the home. We all are aware of those shows about people who update homes and then resell them. Perhaps, as my sister did, she sold her home to her daughter for far less than it's real value.
Our own experience. We sold our home for roughly 6x what we paid for it. When, be bought it roughly 40 years ago, we paid roughly 3x what my parents paid for their home which was roughly twice the size of ours roughly 12 years earlier. For a down payment I put down, in cash, what my parents paid for their home. I never thought it would go up as high as it did. We bought in the villages 9 years ago. Again, I never thought it would go up-BUT IT DID.
My point is all must decide what they want, WHAT THEY CAN AFFORD. WOULDA, SHOULDA COULDA, MIGHTA does not help at all. Like say the stock market. Hindsight is of no value. WOULDA SHOULDA COULDA MIGHTA is also of no value.