Quote:
Originally Posted by skyguy79
Boy, according to what I'm reading here, we must have gotten lucky and bucked the trend. The home we bought in Hadley was originally bought for $296,800 in December of 2007 and we bought it in January of this year for $264,500, a drop of 10.9%. Also, according to the Zillow.com website, the asking price of $269,000 was only a few thousands below it's estimated market value at the time and has gone up a few more since. At the same time we missed a golden opportunity by not going out and buying a lottery ticket on the day we closed!  |
You did buck the trend. Congratulations!
For what it's worth...
Before Wifey and I decided to buy new this month, I had done extensive research on pre-owned sales, as our heads & hearts were set in that direction.
Based on a sampling of 109 closed sales of the VLS and the outside MLS listed properties that either personally interested me for whatever reason or were potential purchases. For those reasons , the sampling
is not all inclusive or exhaustive of all of the properties located in the sample area during that period.
My sampling included: ONLY properties located south of 466, the majority of which were located in villages even with or south of LSL; a mix of starting prices ranging from $145K to $518K; 102 designer homes and 7 villas that were either a corner or a golf course site; figures usually rounded up to nearest $1000.
Those 109 sales indicated that:
the average initial list price was $274,900
the average final sales price was $11,200
below initial list price, the the average final sales price was $3,400
below the
seller's purchase price.
51 sales resulted in a profit for the seller
5 broke even
53 sales resulted in a loss for the seller
Top 5 profits:
Bought: Sold: Profit:
$176K in 2/04; $227K; $51K
$235K in 7/09; $280K; $45K
$197K in 6/02; $237K; $40K
$262K in 6/09; $300K; $38K
$237K in 9/04; $275K; $38K
Top 5 Losses
Bought: Sold: Loss:
$518K in 8/06; $430K $88K
$377K in 5/06; $299K $78K
$497K in 9/05; $440K $57K
$314K in 7/07; $260K $54K
$249K in D/07; $195K $54K
I tracked 20 golf course properties:
15 sold at profit
1 sold break even
4 sold at a loss.