Quote:
Originally Posted by rsmurano
People don’t get it. They think the sky is falling (tv real estate) when somebody is only making $200,000-$300,000 profit in a year or 2 instead of $250,000-$350,000 they would have got a year ago. I know friends that have bought preowned houses here in the last couple months and their sellers made well over $150,000 in 1 year with no improvements.
I also have friends that are trying to buy new houses/lots in Eastport and they are up against hundreds of others bidding for the same house/lot. TV is still using the lottery system. No price reductions here.
Now in the undesirable areas, TV was discounting because they weren’t flying off the sales sheet. These areas I wouldn’t look in with a 50% deduction.
As for a good time to buy, this is a perfect time to buy. I have cash so I don’t need to pay 7% for a loan, and there are fewer people out there that are willing to pay 7% interest or pay cash, so the seller is more negotiable on price.
Selling is different. If you can wait while selling and not panic, then you will do fine. But if you buy a new place and have to sell, then you put yourself in this situation.
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Agree. Waiting for discounts on homes nobody else wants is not smart financially at time of resale. A desirable home will appreciate more and resell faster.
They are building like crazy in Wellpoint now. Close to 50 homes in progress at the southern edge of Monarch Gtove and are starting 2-3 a day. The Villas that will overlook the golf courses have also started.