zeitgeist57 Posted September 21, 2009 Report Share Posted September 21, 2009 I lived in Naples from 2005-2008 and bought a beachside condo just before moving back to Ohio in April, 2008 for a song. One of the smartest decisions I ever made was NOT buying a house during the real estate boom during those years. Need one of literally a hundred examples of what I'm talking about in Naples right now? http://johnrwood.com/PropertyDetails.aspx?HomeID=208027573 Short sale on a nice 2/2 house, 1-car attached garage, walking distance to nice shops, beaches, Ritz Carlton for $115k? Previous owners are from Highland Heights outside of Cleveland...nice area. Bought it for $411k in December, 2005. Current tax value is $151,857. Ladies, in less than 4 years, the property lost nearly $300k in market value. If they sell the house for asking price, they will get back only $0.27 for every $1.00 they spent. I don't know how else you want me to cut it. A good friend of mine is a realtor down there, and has been killing it this year focusing only on foreclosure/shortsells from $150k to $400k. Only a couple of years ago was it tough to buy anything under $350k, $450k and up! Quote Link to comment Share on other sites More sharing options...
Casper Posted September 21, 2009 Report Share Posted September 21, 2009 A couple friends are down there right now looking to buy a vacation property because of the low prices actually. Quote Link to comment Share on other sites More sharing options...
AJ Posted September 21, 2009 Report Share Posted September 21, 2009 i'm glad we got our house cheep in forecloseure, when the market comes back we could be close to doubleing our money if we sold it. Quote Link to comment Share on other sites More sharing options...
LJ Posted September 21, 2009 Report Share Posted September 21, 2009 BRB buying house in Naples Quote Link to comment Share on other sites More sharing options...
Linc5.0 Posted September 21, 2009 Report Share Posted September 21, 2009 i'm glad we got our house cheep in forecloseure, when the market comes back we could be close to doubleing our money if we sold it. plus 1 Quote Link to comment Share on other sites More sharing options...
Nitrousbird Posted September 21, 2009 Report Share Posted September 21, 2009 That's why we bought a forclosed home. Paid just a hair over half what the previous owner paid. Luckily, we are in a high-growth area, and our goal is to sell it for MORE than what the last guy paid in a few years. Quote Link to comment Share on other sites More sharing options...
KillJoy Posted September 21, 2009 Report Share Posted September 21, 2009 We have friends in Sarasota. When we were down there a few months ago, Condos that were previously $699,999+ are now $299,000 - $399,999. I would be PISSED if I paid that original price! KillJoy Quote Link to comment Share on other sites More sharing options...
evan9381 Posted September 22, 2009 Report Share Posted September 22, 2009 eh...i was happy to get in for 78k on a prop that appraised for 115,300 18 months earlier Quote Link to comment Share on other sites More sharing options...
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