Quote:
Originally Posted by phylt
$1.4M????
I've seen nicer homes around TV for half that price.... Is the lot worth $700k???
just sayin'.
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It is a tricky market. There are quite a few buyers with that kind of money to spend. But, THEY determine what is important in a home they will purchase. Some sellers walk away with a good amount of cash in their pocket. Others are not as lucky. They have to remain in their home, discount the price to get out, or take a loss if there is a need to sell. Sadly, some bought another home in the Villages BEFORE theirs sold (thinking they had an easy sale) and now they are stuck paying for both. There is money to be made, but not all will see it. The enormous inventory of homes is proof of this. It is a buyer's market and they call all the shots.
Whatever you do, be careful of buying a home significantly jacked up in price. Even if you LOVE it and have a healthy bank account. If you change your mind and want to sell, the task may be harder than you anticipate. Some homes are sitting for longer than a year without any interest. Even with several hefty price reductions.