Quote:
Originally Posted by MarkB
I have a question regarding home purchase data in TV. I have just read that Florida has the highest home vacancy rate of any state in the country! The report that I read states that 1 in 5 homes in Florida is currently vacant.  Now, while I know that TV is nowhere near as depressed as the rest of the state, I was wondering if anyone has an idea of asking price to purchase price ratio? I currently live on a lake in northern MN and the ration is ~85%. Thank you in advance for any input.
MarkB  |
MarkB,
Welcome to TOTV! I agree that asking price is not necessarily an indication of market value, especially with FSBO. However, I think if you crunch the numbers further, you are likely to find that, in general:
- The longer a home has been on the market, the more discount below asking the seller is willing to accept.
- The more motivated the seller, the more room for negotiation.
So, depending upon the circumstance, the state or even community average might not apply to the house you are interested in.
Bottom line: Don't fret too much about the average ratio. Come on down and see what you can find!