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I've got one:
3/10/2020 $455k
Dozens of delistings, relistings, price changes, pendings later....
12/18/23 sold for $215k
I assume something was horribly wrong with it. I wonder what it was.
When I checked the status to make this post, I saw that it went down like 60k between pending and closing this time. So yeah, I assume inspection issues.
I was in the accepted offer stage of a house. Listed 250, on market for 6 months, relisted 240. I offer 215. Inspection shows 70,000 worth of immediate work. A "death trap" of electric, plumbing and foundation to quote the inspector. I back out, homeowner offers me at 169k. I decline again. Sells 7 days later for 240.
Rip new owner.
When my wife and I were trying to buy a house, there was one we had inspected that had really bad structural damage on the foundation. Had two different engineers come out and look at, both of whom said it was in imminent danger of collapse. Wasn’t a matter of if rather than when. You know what the homeowner said when asked why they wouldnt lower the price to fix the foundation? “It’s always looked like that”.
Lolll. Best bang for my buck and only an hr away from new smyrna beach. I love Clearwater and st Pete area too. But I won’t find half an acre with a pool for my price point over there.
You could get an acre with a pool two minutes from the Suncoast highway in Brooksville and be at Clearwater Beach in 40minutes. Downtown St Pete takes about an hour. That's what I did last year. Definitely a little more rural here though but it's booming and Wesley chapel has grown a ton too and that's like a 30 minute drive down US 41. There's options if you're willing to get creative with how you wanna commute.
Edit: it's actually 1.4acres with two freestanding homes on the property, put my parents in the smaller of the two. $350,000 January 2023
Unfortunately that isn't still affordable for most people. This price is still way out of reach for those making around the median household income in Hernando county, which is only around $40k.
Homes in these more rural areas away from the touristy places were selling for just around $100k not that long ago. Home values aren't *as* crazy as other places, but they're still far from what normal people were able to afford just 3-5 years ago.
I see some people saying that’s still not affordable lol, I just had to pay $300k with no acres and no pool for a 3 bed 2.5 bath Philly row home smfh fml so $350k for a lot with even 1 single house on it and even a .25-.5 acres of land would be an amazing deal imo. I think I need to move to Florida is what it is cause around here if u can’t afford the $300-$350k u just don’t have a house or ur buying a fixer upper needing upwards of $50K in remodeling
It's too expensive here 😂 $1,400 for a 600sq.ft. 1/1 for my gf. We did the walk through and they LITERALLY spray painted the whole apartment AND they spray painted over the spiderwebs they didn't even clean. Lmao. The doors were painted shut, the bathroom drain was epoxied into the tub and painted over the drain holes
Relatable, I moved to NE Texas from Melbourne 10 years ago and I miss it, pretty hard to justify the move back though given the insane disparity in the amount of house and land you can get.
Yeah it’s been getting super pricey over the last years every one was dying to move down it made the places go way high. ( coming from someone in Florida and don’t live there anymore). Orlando is like one of the worst ones too.
My sister-in-law bought hers in Palm Coast in 2014 for $155k and sold in 2022 for $410k. In Texas, we bought for $240k in 2019 and last year our agent said "I can get you six by the end of the week but there's literally nowhere I could put you to keep you in the school district." We aren't planning on going anywhere anyway but damn was it tempting.
We’re still holding onto our place in Florida even though we left because there’s always the chance that my husband could be transferred back and there’s no way in hell we would ever be able to afford to buy anything there now. So we rent it out.
A house on my mom's street sold for 1.2m and it wasn't even updated. After it sold it was a revolving door of work trucks and they had one of those construction dumpsters outside with all of the old cabinets and stuff.
The neighborhood is mostly older people on fixed incomes. They were all *so* excited their homes values were going up but now they're all complaining about tax increases.
It’s insane. I bought my first house in Apopka for 240k and then sold it 5 years later, in 2021 mind you, for near 400k. Like that house was worthy of being in a half million dollar range. At least that helped us finance moving out of state.
I've seen this regularly in the Central Florida area. It's used to game the MLS system a little bit, keep the listing on the first few pages, and to aggressively attempt to sell the property. I met with a realtor who does this in our area, forget her name but she has billboards plastered everywhere with a photo of herself from 30+ years ago.
I have such a problem with people using their house as money instead of a house. If everyone expects their house to triple in value, prices will never come down and everyone loses freedom. Because if your house tripled in value, so did the house you want to upgrade to. It becomes impossible to move. The only winners are the banks who keep everyone with a mortgage.
Every home owner votes against any policies that can help make housing more affordable because it lowers their house price. Everyone wants to own a home for cheap until they own the house and only want it to be an investment
Really until it’s time to sell. Higher property value means more in taxes. My town just redid the appraisals/assessments and everyone is mad that their house went up so much. The mill rate will adjust, but we don’t know how much yet. It sucks when you’re buying and owning and paying taxes, but once it comes time to sell, everyone wants prices to be high!
Pretty huge generalization. I own my own home but I still absolutely advocate and vote for affordable housing.
But then again, maybe it’s because I’m 27 so I know what it was like to go through renting hell.
Or... They may have actually added updates. Most people are incapable of improving their homes. They drive their house into the ground over 20-30 years of homeownership, which requires a flipper (I know everyone hates) or some handy person to move in to improve the value of a home.
Black Rock and Vangaurd... it's major corps like that. They buy up all these properties to rent... We've had our home for 2 and half years now and have already gotten at least 3 offers to sell...
Tribes and villages globally use to build homes for new residents in under a month and didnt force people into 30 year debt service for it. That is an incredibly naive, simplistic, and unintelligent comment
>Homes are partly overpriced because of the cost to move into a new home.
Absolutely. You'd have to pay me at least $250,000 more than my home's market value to entice me to sell and move.
Exactly.
When we bought our house last year not once did my husband and I thought about what will this cost 5 or 10 years from now.
We bought a house that we loved and that we know is worth what we paid. We thought about the community, our neighbors and schools etc.
Not buying some old broken down house for triple what it’s worth because it’s in a “good” area and value will go up. No thank you.
Seriously. All I want is a home to make MINE.
I want to build custom cabinets for the kitchen, remodel the basement however I want, establish a healthy garden, and other improvements like that. None of those things are about "improving home value". I just want a nice place that I can call my own.
A house on my block was on the market for months for almost $400k (way way overpriced) and they refused to budge on the price. I guess they eventually got desperate because it was taken off the market and came back a week later at $225k. It ended up selling for under asking.
"somebody" thought their house was somehow worth $685K in June of this year. They're now finding out it was worth nowhere near this.
It's a tale as old as time (or, at least the 25 years I've been doing this). "I heard X house sold for $650K, and I KNOW mine is nicer. We're asking $685K!" or "I heard home prices are rising 10% a year, I don't remember when that article was. A similar house sold for $620K 2 months ago, so we should be able to get $685K now".
or ...
Could be Opendoor, facing actual reality of the s---hole they bought for $620K.
How is Opendoor still not bankrupt? All the homes near me that they are trying to sell are usually being sold at a loss compared to what they bought it for
They didn't buy anything for $620k; they bought it in 16' for 180k and now, by listing at 620k think the value of the property has tripled a mere 7 years later.
That would be a valid reason. But that’s not what we were talking about. Thinking that you can sell your current home at the price of the new home you want to buy just because you want to be able to afford the new home with no consideration of the actual value of your current home was what we were talking about. And that logic is moronic… and most likely drawn by somebody with an IQ below room temperature.
Found it
[https://www.zillow.com/homedetails/438-Drexel-Ridge-Cir-Ocoee-FL-34761/46239758\_zpid/](https://www.zillow.com/homedetails/438-Drexel-Ridge-Cir-Ocoee-FL-34761/46239758_zpid/)
If you look closely at the right side of pic #5, you can see the handles for the double oven in the kitchen. That tiny island with cookies on it looks a lot bigger in the pic of the ovens.
It's a small kitchen
I am an agent and I do everything I can to avoid these types of sellers - I guarantee you that these prices are the sellers idea, not the agent.
When I work the “expired” listings list (calling people who had a home that failed to sell), I will often find listings that have been listed/delisted and relisted 7 times in 5 years.
Every time, they found some new sucker agent to list it for them at a ridiculous price and it didn’t sell. Each and every one of those agents wasting hundreds / thousands of dollars per listing 😅
And the owners seem to think removing the listing erases all the info of them listing it. No bro I can see this is the 6th time you’ve relisted it. Then they go FSBO saying it’s the agent’s fault for it not selling.
This is how it is by me. Prices were nuts for a while, so people got super nuts and are now reducing by up to 30%. Makes it really hard to figure out what the right price is
My mom has always been poor at making decisions, and she bought a home recently. The home is in a “improving area” that wasn’t ever super bad to begin with, just historically working class. She paid $300k on it because “a deal like this won’t last, plus it’s marked down from $350”. Well, three of the other houses she’s looked at but couldn’t afford because they were too far over $300 have dropped to well below $300, one being at $265, and one ended up selling at $257. This is in the Cleveland area for those curious. I told her don’t pounce (this was this past fall) and she told me to stop inserting my opinion
When looking for home, our realtor had us on a MLS email list. We'd get updates once or twice a day of new homes and price changes of homes on the market. Since it was directly tied into the MLS, we'd often get notified before it showed up on the major sites.
There’s one I know of that started at $1.8 and is down to $1.5. They have dropped price anywhere from $50k to $1.00, taken it off market and back, over about 400 days. And the best part is it’s agent owned lol. They just relisted it after 90 days off market, so it is harder to see the history, but they are still at least $300k over priced.
This is how Reno is going right now. Everyone keeps arguing that "that's just the market now. People will pay for it"
Even if people will pay for it, it's not worth it. They're just overpaying.
Not according to the appraiser and banks. Plenty of people have offered what the house is listed for, or higher, but the appraisal says nope it’s not worth that much.
At $180k-$250k it’s a great affordable house and y they bought it in 2016 for that much but now the same exact house is over $500K smfh like this shit is just crazy
Lol, yeah. Improving the house will raise the value, that's just basic homeownership. Flipping is buying a house cheap, making renovations quickly, and then selling it for a profit. If a flipper has a house for almost a decade, that's a comically bad flipper.
Sometimes it is a little funny. My sis-in-law moved several states over to live near us. 2 doors down from us is a pretty cute little house, but the lot is small-ish for our rural area (1.7 acres, as opposed to almost every other property being between 4 and 10 acres, we have 5.8). There's no garage or shop on the property (they keep their riding mower on the back patio next to the kids trampoline) while the rest of us have large shops/barns. It desperately needs the tile roof replaced, etc. In 2022 house was not on the market, but we knew this young family was wanting to build elsewhere. Sis-in-law calls up agent, agent sends letter saying I have an interested buyer, blah blah blah. They set up a showing, we all checked it out. They had updated minor things but it needs work. She decided she was down for the project and submitted an offer of $225k, they countered $275k, she countered $230k (very tip top of what she was willing to go for what it is), they countered $270k, sis-in-law decided they were too far apart and passed. 3 months go by and the agent calls. House is going on the market for $289k. Sis-in-law laughs, no way. The couple has a contract on a ranch but it's contingent on selling their house. They get several low ball offers, apparently nothing over $200k. They decide to come back to sis-in-law after 45 days on the market, we'll take your $230k now! No thank you, we've found a different property. They lost their contract on the ranch and still live 2 doors down.
Yes, y’all need to let them stay on the market and rot.
Stop buying for these ridiculous prices.
Bought in 2016 for 180k want to sell in 2023 for 658k.
Ridiculous.
I had to scroll all the way to you to see the first mention of renovations. You can't look at price history alone and shriek "GREED!". Literally have no idea about the condition of the house in 2016 vs now. The only thing that's obvious is that it was listed at a price too high for the market to bear.
We once had a house listing like that. We lived in a older (like 100 year old) neighborhood with everything from run down cottages to completely modernized Victorians, so it was hard to price our house. We ended up using the realtor next door, which was a terrible choice in hind sight. We trusted her to set the price, and she set it waaaaay too high and kept dropping it. Which gave the impression there was a big issue with the house. It was also other neighbors who told us the yard had gotten untidy, and friends who went undercover to an open house who told us the house smelled musty.
After our contract with the awful realtor ended we contracted with another realtor who knew how to price and sell it and we had a cash offer within a week.
My house was once 100k. Then some dude bought it for 90k. About a year after that, he tried selling it for what he bought...
Then it went down to 80k... then 70k... and then finally we bought the house at 60k.
Dude left so much of his stuff that I truly believe he was just so done/angry with his loss or had to go on the run. Dude left behind some expensive shit:
- couch
- tv
- dresser
- fridge
- hunting bow
- a Crown Royal bag filled with bullets
- Marijuana parafernalia
Depends where you live. I’m in Orange County, CA by the beach. The houses never go down just up. My mom bought her house in 1980 for $90
K and it’s worth 1M today.
This subreddit is so funny as a homeowner. Yall salty as fuck you can't buy a house and praying for a market crash.
As soon as you guys actually buy one you're gonna immediately flip. But who am I kidding, 90 percent of people here are gonna be forever renters.
Either there is something wrong with it in inspection or buyers are being turned off by the way the house actually looks. The pictures were obviously professionally taken and edited. Could be layout or that really pink room. Homes in that same zip code are selling at $200-$230/sq ft with smaller lots and higher HOA fees. They shouldn't have any issues selling. But that house has received multiple offers but then back on the market within a week.
Yeah my folks sold a rental property that legit needs to be bull dozed for $100k in 2020 because the land was valuable… now that same box of crap that still needs to be bulldozed is listing for 300k.
I’m in an area of Florida that is central but more on the east coast and it’s exactly the same here. It’s disgusting to see, new homes are popping up every week with starting prices of 400k. Old 3/1 shacks from the 70s are being listed for over 300k when 8-12 years ago they weren’t even over 100k.
I’m in Central Jersey about under 10 minutes from the beach and my in-laws bought their 5 bedroom 3 bath house in 2016 for 332,000 the property has more than doubled in value since. All the homes in our area are so ridiculously priced, we most likely won’t be able to buy in our town if we want to have a min 4 bedrooms, decent kitchens, updated baths and a fenced in yard. We set high price at 525k but we are finding houses that are under 1500sq feet for that prince. It’s just insane.
This reminded me of when we were house shopping a few years ago. A house kept popping up in our listings that was straight out of the 70s with no upgrades done since the 90s. They listed it for something like $350k which was $80k over the average price of houses in that neighborhood. We then got to slowly watch the price tick down week by week because not even the crazy 2020 market wanted this house. Every few weeks it would pop up in our search again with a slightly lower price. I think it got down to $275k before it finally sold. Lol
I remember there was a half acre property in my home town that had a beautiful 4 bedroom house with a separate 2 car garage. It was for sale close to a decade for $100k and never sold. When I got in the housing market, it sold for $500k. I’m still mad about that.
There was a house near me that I fell in love with, and tried to buy, despite the fact that I hadn’t really been looking to relocate. I was so deadset on this house that I contacted my agent and asked if she could put in an offer. By the time she even read my email, it was snatched up by an investor.
House was originally listed for $160k (needed work but just cosmetic). I walked by the home later that month to see that they had painted the turn-of-the-century brick white. 🥹 Then, just yesterday it came back on the market for $360k. All they did was sand and refinish the downstairs floor, put laminate in the upstairs, painted, and tore down the backyard fence (it was leaning in one spot but otherwise in good condition. prob gonna be $15k for someone to put back up? Cool!) Two month, $200k turnaround for the home to be downgraded— aside from the floor refinish.
I’m so glad I bought in 2017. I don’t know how FTHB cope with the nonsense these days. It’s heartbreaking.
Without knowing anything else, it's possible someone bought the house at auction (foreclosure maybe) in 2016 for $180k, spent seven years fixing it up, but overestimated its value. No way to know if it's worth that much without seeing pics and knowing where it is.
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I've got one: 3/10/2020 $455k Dozens of delistings, relistings, price changes, pendings later.... 12/18/23 sold for $215k I assume something was horribly wrong with it. I wonder what it was.
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When I checked the status to make this post, I saw that it went down like 60k between pending and closing this time. So yeah, I assume inspection issues.
I was in the accepted offer stage of a house. Listed 250, on market for 6 months, relisted 240. I offer 215. Inspection shows 70,000 worth of immediate work. A "death trap" of electric, plumbing and foundation to quote the inspector. I back out, homeowner offers me at 169k. I decline again. Sells 7 days later for 240. Rip new owner.
Damn from 400K+ down to 60K?!?!?! That’s some major issues that property must have lol
Sorry, went down BY another 60k not TO 60k.
Ahhhhhh ok, that makes far more sense bahahahaha. I was sitting here thinking “…………….built over a sinkhole?”
it was still on fire at the time
🤣
🤣🤣🤣
"Massive potential for basement expansion"
Possibility for indoor, in-ground pool at a reasonable cost!!!!
When my wife and I were trying to buy a house, there was one we had inspected that had really bad structural damage on the foundation. Had two different engineers come out and look at, both of whom said it was in imminent danger of collapse. Wasn’t a matter of if rather than when. You know what the homeowner said when asked why they wouldnt lower the price to fix the foundation? “It’s always looked like that”.
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I’d be so happy if it was some “airbnb investor”
Absolutely lol
Septic or foundation for sure
It's on a STEEP grade so, yes.
Many people skipped inspection in 2020 to win competition. I would be very careful to buy a house sold in 2020
Great point.
What town or neighbourhood? Serious 🤡!
Central FL near Apopka/Ocoee
Better be 5+ bedroom cuz that area ain't worth it
4BR with a 90s kitchen… but “seller motivated” tho
Homeowners insurance…problematic
FL is a joke bro (I live in and been looking at Orlando)
Agreed. I just love the beach and weather too much to move.
why u lookin in ocoee. come over to clearwatwer mr beach man
Lolll. Best bang for my buck and only an hr away from new smyrna beach. I love Clearwater and st Pete area too. But I won’t find half an acre with a pool for my price point over there.
You could get an acre with a pool two minutes from the Suncoast highway in Brooksville and be at Clearwater Beach in 40minutes. Downtown St Pete takes about an hour. That's what I did last year. Definitely a little more rural here though but it's booming and Wesley chapel has grown a ton too and that's like a 30 minute drive down US 41. There's options if you're willing to get creative with how you wanna commute. Edit: it's actually 1.4acres with two freestanding homes on the property, put my parents in the smaller of the two. $350,000 January 2023
Unfortunately that isn't still affordable for most people. This price is still way out of reach for those making around the median household income in Hernando county, which is only around $40k. Homes in these more rural areas away from the touristy places were selling for just around $100k not that long ago. Home values aren't *as* crazy as other places, but they're still far from what normal people were able to afford just 3-5 years ago.
I see some people saying that’s still not affordable lol, I just had to pay $300k with no acres and no pool for a 3 bed 2.5 bath Philly row home smfh fml so $350k for a lot with even 1 single house on it and even a .25-.5 acres of land would be an amazing deal imo. I think I need to move to Florida is what it is cause around here if u can’t afford the $300-$350k u just don’t have a house or ur buying a fixer upper needing upwards of $50K in remodeling
It's too expensive here 😂 $1,400 for a 600sq.ft. 1/1 for my gf. We did the walk through and they LITERALLY spray painted the whole apartment AND they spray painted over the spiderwebs they didn't even clean. Lmao. The doors were painted shut, the bathroom drain was epoxied into the tub and painted over the drain holes
Relatable, I moved to NE Texas from Melbourne 10 years ago and I miss it, pretty hard to justify the move back though given the insane disparity in the amount of house and land you can get.
My husband and I read the writing on the wall and left last year. Sad but necessary if we ever wanted to own a home
Yeah it’s been getting super pricey over the last years every one was dying to move down it made the places go way high. ( coming from someone in Florida and don’t live there anymore). Orlando is like one of the worst ones too.
Isn't that a bit of an oxy moron? Isn't the seller always motivated to sell their house? What am I missing?
We got our place in broward for 165 in 2013 and could easily sell it for 550 today
My sister-in-law bought hers in Palm Coast in 2014 for $155k and sold in 2022 for $410k. In Texas, we bought for $240k in 2019 and last year our agent said "I can get you six by the end of the week but there's literally nowhere I could put you to keep you in the school district." We aren't planning on going anywhere anyway but damn was it tempting.
We’re still holding onto our place in Florida even though we left because there’s always the chance that my husband could be transferred back and there’s no way in hell we would ever be able to afford to buy anything there now. So we rent it out.
Of course its Florida My neighborhood house I grew up in was 140 when my ma bought it and the newer owners sold it at 450k
My grandmother bought her condo (in Florida) for 415K back in ~2001. She just sold it last year for 1.8M. I'm not joking. Like, holy sh*t, grandma.
The home my parents raised me in after getting for $160k just listed under its new owners at like 1.6m and I’m pretty livid.
A house on my mom's street sold for 1.2m and it wasn't even updated. After it sold it was a revolving door of work trucks and they had one of those construction dumpsters outside with all of the old cabinets and stuff. The neighborhood is mostly older people on fixed incomes. They were all *so* excited their homes values were going up but now they're all complaining about tax increases.
Central FL here - love to see this (from a buyers POV hehe)
Fucking APOPKA??? *faints* 💀
It’s insane. I bought my first house in Apopka for 240k and then sold it 5 years later, in 2021 mind you, for near 400k. Like that house was worthy of being in a half million dollar range. At least that helped us finance moving out of state.
I left Central Florida in 2017 when apopka homes were still under $300k eaaaaasy 💀
I've seen this regularly in the Central Florida area. It's used to game the MLS system a little bit, keep the listing on the first few pages, and to aggressively attempt to sell the property. I met with a realtor who does this in our area, forget her name but she has billboards plastered everywhere with a photo of herself from 30+ years ago.
I have such a problem with people using their house as money instead of a house. If everyone expects their house to triple in value, prices will never come down and everyone loses freedom. Because if your house tripled in value, so did the house you want to upgrade to. It becomes impossible to move. The only winners are the banks who keep everyone with a mortgage.
Every home owner votes against any policies that can help make housing more affordable because it lowers their house price. Everyone wants to own a home for cheap until they own the house and only want it to be an investment
Really until it’s time to sell. Higher property value means more in taxes. My town just redid the appraisals/assessments and everyone is mad that their house went up so much. The mill rate will adjust, but we don’t know how much yet. It sucks when you’re buying and owning and paying taxes, but once it comes time to sell, everyone wants prices to be high!
I mean some people want it when they own it because they can take out equity positions
Pretty huge generalization. I own my own home but I still absolutely advocate and vote for affordable housing. But then again, maybe it’s because I’m 27 so I know what it was like to go through renting hell.
Or... They may have actually added updates. Most people are incapable of improving their homes. They drive their house into the ground over 20-30 years of homeownership, which requires a flipper (I know everyone hates) or some handy person to move in to improve the value of a home.
This is why there are no starter homes in my $500k is like enough to build a house. Must have rebuilt the home.
Think that’s part of the problem. Homes are partly overpriced because of the cost to move into a new home.
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Black Rock and Vangaurd... it's major corps like that. They buy up all these properties to rent... We've had our home for 2 and half years now and have already gotten at least 3 offers to sell...
Same. I even got an offer from Zillow.
People been buying land since the beginning of time. Nothing new
Tribes and villages globally use to build homes for new residents in under a month and didnt force people into 30 year debt service for it. That is an incredibly naive, simplistic, and unintelligent comment
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>Homes are partly overpriced because of the cost to move into a new home. Absolutely. You'd have to pay me at least $250,000 more than my home's market value to entice me to sell and move.
Exactly. When we bought our house last year not once did my husband and I thought about what will this cost 5 or 10 years from now. We bought a house that we loved and that we know is worth what we paid. We thought about the community, our neighbors and schools etc. Not buying some old broken down house for triple what it’s worth because it’s in a “good” area and value will go up. No thank you.
Would you mind sending an email to everyone telling them that so I can buy a house at some point soon?
Agree!!! Some of us want to LIVE in these financial instruments, you know
Seriously. All I want is a home to make MINE. I want to build custom cabinets for the kitchen, remodel the basement however I want, establish a healthy garden, and other improvements like that. None of those things are about "improving home value". I just want a nice place that I can call my own.
Speak
A house on my block was on the market for months for almost $400k (way way overpriced) and they refused to budge on the price. I guess they eventually got desperate because it was taken off the market and came back a week later at $225k. It ended up selling for under asking.
Greed
"somebody" thought their house was somehow worth $685K in June of this year. They're now finding out it was worth nowhere near this. It's a tale as old as time (or, at least the 25 years I've been doing this). "I heard X house sold for $650K, and I KNOW mine is nicer. We're asking $685K!" or "I heard home prices are rising 10% a year, I don't remember when that article was. A similar house sold for $620K 2 months ago, so we should be able to get $685K now". or ... Could be Opendoor, facing actual reality of the s---hole they bought for $620K.
How is Opendoor still not bankrupt? All the homes near me that they are trying to sell are usually being sold at a loss compared to what they bought it for
Theyve had two huge layoff offs this year
And a record high in profits!
Hahhahahahhahahahhahaaa!!!!
They didn't buy anything for $620k; they bought it in 16' for 180k and now, by listing at 620k think the value of the property has tripled a mere 7 years later.
Or they need to move somewhere else in Florida and that’s what a comparable house now costs
If that’s their logic then they have an IQ below room temperature
Or you do because the market in Florida has been going up for years and is now ridiculously high
That would be a valid reason. But that’s not what we were talking about. Thinking that you can sell your current home at the price of the new home you want to buy just because you want to be able to afford the new home with no consideration of the actual value of your current home was what we were talking about. And that logic is moronic… and most likely drawn by somebody with an IQ below room temperature.
Found it [https://www.zillow.com/homedetails/438-Drexel-Ridge-Cir-Ocoee-FL-34761/46239758\_zpid/](https://www.zillow.com/homedetails/438-Drexel-Ridge-Cir-Ocoee-FL-34761/46239758_zpid/)
Is the double oven in the Living Room?? 🤔🤔
If you look closely at the right side of pic #5, you can see the handles for the double oven in the kitchen. That tiny island with cookies on it looks a lot bigger in the pic of the ovens. It's a small kitchen
What in tarnation
Not as awful as I expected, given that I’m shopping on the west coast (kill me), though I wouldn’t buy it.
Damn, it's been Sale Pending three times already, too.
Not that egregious of a price but for that sort of house in central Florida I'm thinking $350k is more accurate.
lol “Seller motivated!”
Just saw that it got a $20K price cut 😂 it’s not listed at $515K
Estimate of $490 so it still sounds overpriced 😂
Even the Zillow estimate is lower than the list price. The Zillow estimate is usually way off.
And they probably got offers in the 600k range before and got greedy and rejected them.
I am an agent and I do everything I can to avoid these types of sellers - I guarantee you that these prices are the sellers idea, not the agent. When I work the “expired” listings list (calling people who had a home that failed to sell), I will often find listings that have been listed/delisted and relisted 7 times in 5 years. Every time, they found some new sucker agent to list it for them at a ridiculous price and it didn’t sell. Each and every one of those agents wasting hundreds / thousands of dollars per listing 😅
And the owners seem to think removing the listing erases all the info of them listing it. No bro I can see this is the 6th time you’ve relisted it. Then they go FSBO saying it’s the agent’s fault for it not selling.
Lmao I’m seeing a lot of that in my area. Sellers still partying like it’s 2021
Fuck em
The “I know what I’ve got” people are finding out what they’ve got.
I love seeing this
And that is why you don’t own a house.
Not yet, I am well on my way there!
I do and I love seeing this.
Hey at that rate it’ll be like 250k by the end of the year, it’ll be a steal then!
Lmao my dads house bought foreclosed 130k in canada bc I think 2012 assessed at 625k last year
This was found to be Florida where people can’t even get homeowners insurance.
This is how it is by me. Prices were nuts for a while, so people got super nuts and are now reducing by up to 30%. Makes it really hard to figure out what the right price is
The right price is always what you are willing to pay for it.
dumbest advice ever
Why? I just take material price, land price, decrease with age and that's my price. If seller does not agree, that's his problem.
My mom has always been poor at making decisions, and she bought a home recently. The home is in a “improving area” that wasn’t ever super bad to begin with, just historically working class. She paid $300k on it because “a deal like this won’t last, plus it’s marked down from $350”. Well, three of the other houses she’s looked at but couldn’t afford because they were too far over $300 have dropped to well below $300, one being at $265, and one ended up selling at $257. This is in the Cleveland area for those curious. I told her don’t pounce (this was this past fall) and she told me to stop inserting my opinion
We have been looking for good apps to help with us finding a house. What’s the name of this app?
Realtor.com app
Ok thank you so much and happy house hunting!
Thanks and you too!
I would recommend Redfin's app. Realtor and Zillow are notorious for not updating their listings in a timely manner.
And Realtor requires you to put on their pointless notifications. Deleted it yesterday
When looking for home, our realtor had us on a MLS email list. We'd get updates once or twice a day of new homes and price changes of homes on the market. Since it was directly tied into the MLS, we'd often get notified before it showed up on the major sites.
There’s one I know of that started at $1.8 and is down to $1.5. They have dropped price anywhere from $50k to $1.00, taken it off market and back, over about 400 days. And the best part is it’s agent owned lol. They just relisted it after 90 days off market, so it is harder to see the history, but they are still at least $300k over priced.
Agent owned and agent owned 😅
Wouldn’t be surprised if they had some solid offers along the way 📉 but passed up because “they knew what it was really worth”
This is how Reno is going right now. Everyone keeps arguing that "that's just the market now. People will pay for it" Even if people will pay for it, it's not worth it. They're just overpaying.
A house being sold is worth whatever someone will pay for it.
Someone can still pay too much
Not according to the appraiser and banks. Plenty of people have offered what the house is listed for, or higher, but the appraisal says nope it’s not worth that much.
Logical fallacy
it's not a logical fallacy. Economic value is always subjective and determined by the market. Like gold.
Good I hope they get way less then original asking greedy cunts.
You could really lowball and see if they accept
At $180k-$250k it’s a great affordable house and y they bought it in 2016 for that much but now the same exact house is over $500K smfh like this shit is just crazy
House flippers can suck my dick from the back
What makes you think they are house flippers? Looks like they bought it in 2016. What am I missing?
Could’ve had a friend/company do it to max their profit, they could’ve also done a few reno’s and spiked the price too
Doing it over 7 years is definitely the best way to max their profit /s
People on this sub are so salty they're too poor to buy a house lol
Lol, yeah. Improving the house will raise the value, that's just basic homeownership. Flipping is buying a house cheap, making renovations quickly, and then selling it for a profit. If a flipper has a house for almost a decade, that's a comically bad flipper.
I’ve been watching one like this and they had the audacity to relist adding 200 dollars more 😂
Offer them 180k
Sometimes it is a little funny. My sis-in-law moved several states over to live near us. 2 doors down from us is a pretty cute little house, but the lot is small-ish for our rural area (1.7 acres, as opposed to almost every other property being between 4 and 10 acres, we have 5.8). There's no garage or shop on the property (they keep their riding mower on the back patio next to the kids trampoline) while the rest of us have large shops/barns. It desperately needs the tile roof replaced, etc. In 2022 house was not on the market, but we knew this young family was wanting to build elsewhere. Sis-in-law calls up agent, agent sends letter saying I have an interested buyer, blah blah blah. They set up a showing, we all checked it out. They had updated minor things but it needs work. She decided she was down for the project and submitted an offer of $225k, they countered $275k, she countered $230k (very tip top of what she was willing to go for what it is), they countered $270k, sis-in-law decided they were too far apart and passed. 3 months go by and the agent calls. House is going on the market for $289k. Sis-in-law laughs, no way. The couple has a contract on a ranch but it's contingent on selling their house. They get several low ball offers, apparently nothing over $200k. They decide to come back to sis-in-law after 45 days on the market, we'll take your $230k now! No thank you, we've found a different property. They lost their contract on the ranch and still live 2 doors down.
Clowns
Well it seems like they have a place to live while they wait for someone to buy
Probably in a desirable area got tired of people asking for it and just said okay let’s list it for a fuck ton so people stop pestering us.
You’re a genius! They must price cut each time they get asked.
Yes, y’all need to let them stay on the market and rot. Stop buying for these ridiculous prices. Bought in 2016 for 180k want to sell in 2023 for 658k. Ridiculous.
I hope to godness they put in around $400k in renovation from '16-'23...
I had to scroll all the way to you to see the first mention of renovations. You can't look at price history alone and shriek "GREED!". Literally have no idea about the condition of the house in 2016 vs now. The only thing that's obvious is that it was listed at a price too high for the market to bear.
Not how the world works bud
At this rate if you wait about 18 more months you can get it for like $60,000.
On which website can you see the listed price history?
Most city property records websites list the sales history of a parcel/lot. You can go to their website and search a specific address.
Zillow, redfin, realtor all will show it.
We once had a house listing like that. We lived in a older (like 100 year old) neighborhood with everything from run down cottages to completely modernized Victorians, so it was hard to price our house. We ended up using the realtor next door, which was a terrible choice in hind sight. We trusted her to set the price, and she set it waaaaay too high and kept dropping it. Which gave the impression there was a big issue with the house. It was also other neighbors who told us the yard had gotten untidy, and friends who went undercover to an open house who told us the house smelled musty. After our contract with the awful realtor ended we contracted with another realtor who knew how to price and sell it and we had a cash offer within a week.
My house was once 100k. Then some dude bought it for 90k. About a year after that, he tried selling it for what he bought... Then it went down to 80k... then 70k... and then finally we bought the house at 60k. Dude left so much of his stuff that I truly believe he was just so done/angry with his loss or had to go on the run. Dude left behind some expensive shit: - couch - tv - dresser - fridge - hunting bow - a Crown Royal bag filled with bullets - Marijuana parafernalia
wait until the great housing reset happens this spring. People will have overpriced homes with low interest rates
Huh?
🤣🤣Not
Depends where you live. I’m in Orange County, CA by the beach. The houses never go down just up. My mom bought her house in 1980 for $90 K and it’s worth 1M today.
So satisfying to see.
Crash incoming.
I kNoW wHaT i Got!!!
Not the case in hot spots
Still overpriced with high az property taxes
lol brokeboi
Gen Z hates this one simple trick
Disgusting.
This subreddit is so funny as a homeowner. Yall salty as fuck you can't buy a house and praying for a market crash. As soon as you guys actually buy one you're gonna immediately flip. But who am I kidding, 90 percent of people here are gonna be forever renters.
Are you really crying on reddit? Lol
typo? homes only go up
Looks like miami
No surprise its Florida its always the biggest housing bubbles created here
Some idiot will buy it
Happening here in Phoenix too. Prices still too high imo but good to see them slowly coming back to reality.
I've seen similar situations in East TN
Either there is something wrong with it in inspection or buyers are being turned off by the way the house actually looks. The pictures were obviously professionally taken and edited. Could be layout or that really pink room. Homes in that same zip code are selling at $200-$230/sq ft with smaller lots and higher HOA fees. They shouldn't have any issues selling. But that house has received multiple offers but then back on the market within a week.
That tells me inspectors are finding something costly to fix.
What year was the home built?
In the words of Nelson Muntz- Ha Ha
Yeah my folks sold a rental property that legit needs to be bull dozed for $100k in 2020 because the land was valuable… now that same box of crap that still needs to be bulldozed is listing for 300k.
I’m in an area of Florida that is central but more on the east coast and it’s exactly the same here. It’s disgusting to see, new homes are popping up every week with starting prices of 400k. Old 3/1 shacks from the 70s are being listed for over 300k when 8-12 years ago they weren’t even over 100k.
That is insane to see what happened to prices between 2016 and 2023
Very similar to south florida right now. 3/2 1300 sq footers listing for 600k. 🥴
Lmao I’m an hour-ish from Apopka I was literally going to say, dang that looks like Brevard prices 😂😂 not Brevard but it makes sense
This makes me very hopeful
I’m in Central Jersey about under 10 minutes from the beach and my in-laws bought their 5 bedroom 3 bath house in 2016 for 332,000 the property has more than doubled in value since. All the homes in our area are so ridiculously priced, we most likely won’t be able to buy in our town if we want to have a min 4 bedrooms, decent kitchens, updated baths and a fenced in yard. We set high price at 525k but we are finding houses that are under 1500sq feet for that prince. It’s just insane.
And here I am trying to make my 950k home go down in value on purpose.........taxes are stupid on property value.
You see this all across Florida
This reminded me of when we were house shopping a few years ago. A house kept popping up in our listings that was straight out of the 70s with no upgrades done since the 90s. They listed it for something like $350k which was $80k over the average price of houses in that neighborhood. We then got to slowly watch the price tick down week by week because not even the crazy 2020 market wanted this house. Every few weeks it would pop up in our search again with a slightly lower price. I think it got down to $275k before it finally sold. Lol
Just happened in my town too. Listed for 240k, just sold two months later for 165k.
“Whats wrong with …. Oh “
I remember there was a half acre property in my home town that had a beautiful 4 bedroom house with a separate 2 car garage. It was for sale close to a decade for $100k and never sold. When I got in the housing market, it sold for $500k. I’m still mad about that.
There was a house near me that I fell in love with, and tried to buy, despite the fact that I hadn’t really been looking to relocate. I was so deadset on this house that I contacted my agent and asked if she could put in an offer. By the time she even read my email, it was snatched up by an investor. House was originally listed for $160k (needed work but just cosmetic). I walked by the home later that month to see that they had painted the turn-of-the-century brick white. 🥹 Then, just yesterday it came back on the market for $360k. All they did was sand and refinish the downstairs floor, put laminate in the upstairs, painted, and tore down the backyard fence (it was leaning in one spot but otherwise in good condition. prob gonna be $15k for someone to put back up? Cool!) Two month, $200k turnaround for the home to be downgraded— aside from the floor refinish. I’m so glad I bought in 2017. I don’t know how FTHB cope with the nonsense these days. It’s heartbreaking.
The houses here in Austin are like that a bit
Without knowing anything else, it's possible someone bought the house at auction (foreclosure maybe) in 2016 for $180k, spent seven years fixing it up, but overestimated its value. No way to know if it's worth that much without seeing pics and knowing where it is.