You Will NOT Believe This
#61
^ I would have thought so, too. Seems your appraiser did things the old way, coming in at exactly the contract price. Peeps are probably skittish in general, waiting to see how the market shakes out, especially when it comes to second homes. Saw a report last night showing housing prices down about 25% in CA, AZ and FL. Also Las Vegas.
#63
Originally Posted by dlq04,May 28 2008, 06:41 AM
They are reporting today that houses fell 14% in the first quarter of 2008 . . .
#64
What do you know, I heard from my agent today and the buyers are not ready to give up just yet. They are willing to see another appraisal (at my expense). So I ordered another one and we'll see how it goes. The way I see it, one of 3 things will happen:
a) it will be low like the last one due to the lack of comps, and I will be forced to sit on the property for a couple years.
b) it will be around the agreed upon selling price, in which case we can proceed and all go home happy
c) it will be somewhere in the middle, at which time I will have a hard decision to make.
a) it will be low like the last one due to the lack of comps, and I will be forced to sit on the property for a couple years.
b) it will be around the agreed upon selling price, in which case we can proceed and all go home happy
c) it will be somewhere in the middle, at which time I will have a hard decision to make.
#65
Originally Posted by Legal Bill,May 29 2008, 09:20 PM
I saw that. Between the drop in housing prices and very low interest rates, it is probably a great time to buy real estate. People who are timing the bottom may miss it, or may miss the low interest rates.
#67
That is a good sign, Carmen. They must really want your house. I hope it works out. Holding on to it for a couple of years would be a major drag with no guarantee of a better price.
I saw an article this morning of the five vacation spots that are relative bargains right now. One of them is the Crystal Coast of NC - Beaufort area. I'm tempted to buy something!
I saw an article this morning of the five vacation spots that are relative bargains right now. One of them is the Crystal Coast of NC - Beaufort area. I'm tempted to buy something!
#68
Originally Posted by Legal Bill,May 29 2008, 09:20 PM
I saw that. Between the drop in housing prices and very low interest rates, it is probably a great time to buy real estate. People who are timing the bottom may miss it, or may miss the low interest rates.