Are Real Estate prices still dropping?

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  #1  
Old 06-25-2011, 10:19 AM
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Default Are Real Estate prices still dropping?

My wife saw a Villages open house in our neighborhood went in to look.
She reported that it was dated and she didn't like the colors but it has newer appliances with a 15x30 screen room and hot tub.
When I saw the listing I thought that it must be a wreck inside but the wife reports it was not bad and needs paint and the carpet ripped up.
This designer home last sold for $245,000 on 7/1/07 and is listed at $139,900.Are prices still falling?
  #2  
Old 06-25-2011, 10:55 AM
Tbugs Tbugs is offline
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Prices definitely went down from the height of the real estate bubble in 2006-07.

Look at Zillow.com and you will see prices then and now.

Houses both new and resales are selling pretty quickly in The Villages. Actually, the summer time is when most homes are sold, I was told. I bought mine (resale) 2 years ago in the summer - and my home is worth more today (according to Zillow) than it was when I purchased it.

Homes sell quickly if they are well kept up both inside and outside and are priced according to the market. There will always be people who bought at the top of the market and want to recoup all of their sales prices plus a profit. That ain't gonna happen now.
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Old 06-25-2011, 12:16 PM
starflyte1 starflyte1 is offline
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Snowbirdtobe, I thought I was looking at the same home you mentioned, but the one I see has had one owner who bought it in 1995 for $108,300 according to the Sumterpa.com web site. Are you talking about a home near the hospital and SS?
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Old 06-25-2011, 12:51 PM
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You're right. Sorry I looked at the house next door.
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Old 06-25-2011, 01:26 PM
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Quote:
Originally Posted by Tbugs View Post
Prices definitely went down from the height of the real estate bubble in 2006-07.

Look at Zillow.com and you will see prices then and now.

Houses both new and resales are selling pretty quickly in The Villages. Actually, the summer time is when most homes are sold, I was told. I bought mine (resale) 2 years ago in the summer - and my home is worth more today (according to Zillow) than it was when I purchased it.

Homes sell quickly if they are well kept up both inside and outside and are priced according to the market. There will always be people who bought at the top of the market and want to recoup all of their sales prices plus a profit. That ain't gonna happen now.
Tbug I bought in 2006 . Not only paid a top price TV had a take it or leave it attitude. I left a list of options I wanted in a house and told my sales agent to either find it or I would be looking in Charleston. she came back 3 weeks later wit a house. I sold my home in Minneapolis area within 3 weeks
just before the amrket began hitting bottom.

I wanted to move to Charleston in 2007 but market began dropping . Add to that the liklihood of rising prices from the influx of boeing people and Charleston is out of the picture
  #6  
Old 06-25-2011, 01:57 PM
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My little sister in Idaho just got her property tax assessment. House price droped 49K and her property tax went up. The letter they sent with the bill explained that property tax would be assessed accounting to the needs of the county budget not the value of the property. Sounds like a rip off to me, but that is what our elected officials are doing instead of living within the tax budget means.

Here in our little corner of NM, any house priced over 125K is not selling. The mines just reopened and no one has good enough credit to get a loan. Therefore we are renting our house. Might want to come back here in the summer if we find that we can not stand the summers in TV. But we are going to give it a couple years just to make sure we like the summers, then put the house back on the market. Hopefully by then things will have turned around and homes will start selling again.
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Old 06-25-2011, 02:53 PM
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We sold and closed on our Hadley home on Thursday. The buyers said that the home appraised at 12K more than we paid for it three years ago. That is good news for everyone, I think.
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Old 06-25-2011, 03:08 PM
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congratulations graciegirl and fam! onward to living happily ever after in the villages!
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Old 06-25-2011, 03:55 PM
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Originally Posted by njbchbum View Post
congratulations graciegirl and fam! onward to living happily ever after in the villages!
Thank you. One more to go. Positive thoughts requested Please.
  #10  
Old 06-26-2011, 09:03 AM
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Originally Posted by graciegirl View Post
We sold and closed on our Hadley home on Thursday. The buyers said that the home appraised at 12K more than we paid for it three years ago. That is good news for everyone, I think.
I am soooooooooooo happy for you and your family.

I thought I missed your upate and you've made my day.

Wishing you every happiness as you become permanet residents in TV.

:a0 40:

It couldn't happen to nicer people. JMHO
  #11  
Old 06-26-2011, 09:19 AM
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Congrats and may those "positive thoughts" now be focused on your other sale.
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Old 06-26-2011, 07:19 PM
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Quote:
Originally Posted by 2BNTV View Post
I am soooooooooooo happy for you and your family.

I thought I missed your upate and you've made my day.

Wishing you every happiness as you become permanet residents in TV.

:a0 40:

It couldn't happen to nicer people. JMHO
My sentiments exactly, right down to all the smilies.

.... However, the typo on permanent had me reading it quickly as "pregnant," and I thought, NO WAY!
  #13  
Old 06-28-2011, 11:48 AM
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I don't understand Zillow. I was tracking my house there and watched it keep dropping a thousand at a time. Then one day it went up almost $40k. What's up with that? Went from what I thought was under priced to what I consider over priced in one day.
  #14  
Old 06-28-2011, 01:11 PM
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Quote:
Originally Posted by Pturner View Post
My sentiments exactly, right down to all the smilies.

.... However, the typo on permanent had me reading it quickly as "pregnant," and I thought, NO WAY!
P:

You are a hoot!!!!
  #15  
Old 06-28-2011, 02:20 PM
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Congrats Gracie!!! Where are you going now? Did you sell your home up north as well?
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