[Schuttzie]

Originally Posted by thetiredone

If you live in the type of community that has an equity, that might be the issue in selling. I know someone in a gated community that has an equity which is his problem in selling.

Could you please explain about the community having an equity? I am unclear what this is, thank you!

[Roselvr]

Originally Posted by wavylines

To jaxrivers: Thank you for taking the time and effort for all the info you put in your reply. I agree that in the end it is price. We are in a home in a gated community in Citrus County where the homes are over $600K. The area outside is rural and not as pricey. My home is not as grand as my neighbors. From what my latest agent told me these homes stay on the market longer than a $200K plus home does. Still, I am anxious to sell and will continue dropping the price until we get a bite. I have no sentiment about the home or the price. To Dave W: Yes, I agree that most of the real estate agents I interviewed seemed lazy and lacking in knowledge. They also seem to lack energy and enthusiasm.

Thank you again for all your help.

Be careful with price drops too as you don't want to have a lot of them. I think you're better off finding a realistic price, then drop to that.

If someone sees a lot of price drops, they may think you're desperate, they may wait longer to see how much lower you'll drop it.

Agents these days are probably lazy, they just came out of a market where they didn't have to do much besides photos and video. They would then have a lot of showings, say bring your best offer by this date, then the seller picks that way.

We sold in NJ June 2022. It went about 15% over asking price. It was as is with a small leak in the basement plus the front door needed replacing. House was 15 years old. We decided not to do any updates like a lot of houses had. I like wood cabinets, not white or black. While they were dark wood, the buyer loved the cabinets, he ripped the carpet out, did wood floors in the whole house, also painted. The house showed really well in the listing because I know it needed to. The buyer spent over an hour talking to my hub about hunting on the property, so coming home before they left didn't count against us.

My hub wants to move to Florida, I refuse to go down there. Too hot for me.

[thetiredone]

Originally Posted by Schuttzie

Could you please explain about the community having an equity? I am unclear what this is, thank you!

In most gated communities where there is a golf course and tons of other amenities, they charge $XXX,XXX amount yearly.

[jaxrivers]

Originally Posted by thetiredone

In most gated communities where there is a golf course and tons of other amenities, they charge $XXX,XXX amount yearly.

Not true in Florida NOT AT ALL.

And this humble HOA (and others, actually) has none and nothing to do with the few that have that mandatory social membership equity program.

That's it's OWN thing. And rare.

[jaxrivers]

Originally Posted by Schuttzie

Could you please explain about the community having an equity? I am unclear what this is, thank you!

A FEW. Relatively A VERY FEW "Country Club Communities" in Florida have it - a type of mandatory social membership - you buy into it with a large yearly fee and typically a lump sum.

You can be scrolling real estate listings and one looks cheap and WHOA nope, on top of the $120K for the condo you pay A LOT extra for the equity.

VERY FEW and IME all on the West coast.

It has nothing to do with an HOA actually, and HOAs have gated/guarded, ammenities, and GOLF at every level. Including golf courses on the PROPERTY not part of the HOA financials and owned privately a PUBLIC course more or less.

Here's an explanation:

https://www.oldecypress.com/about-us...y%20operations.

https://www.oldecypress.com/real-estate

HERE'S where I'm from, Vero Beach. Grand Harbor is a very large community from condos to multi million dollar singles. You buy a property like anywhere else. You get all the ammenities like anywhere gym, pool, etc. BUT GOLF and Country Club activities are optional and PRIVATE EQUITY MEMBERSHIP Is optional.

Not all communities make it OPTIONAL.

You'll see it's on the website of all private equity places in the country and how few are in FLorida in this case.

https://www.privatecommunities.com/f...rbor/index.htm

So we have over 100 HOAs in my county and ONE private equity one LOL. AND it's not all that popular, like you might think even though there's a lot of wealth in this county.

[lluvia]

Here's a thought. Look back at historical prices and what they were the last time interest rates were @ 7% or whatever it is today and use that price.
Clearly, prices of today are still at lower interest rate levels.

[wavylines]

Hi again to the new posters here today: I just checked in. My new build home is in a long-established development that also has land available to build new homes. There are resales here. As far as equity goes -- hard to determine. Finding comps comparing what sold relative to my home was a toss-up from the really high price to the low end. It was a guessing game for the realtors I interviewed. I have lowered the price significantly gradually up to now. There are not enough people looking so I can't get feedback either positive or negative. Hope business picks up.

Thanks to everyone out there. Your responses are very much appreciated.

[jamary1]

Two houses down from me sits an empty house that's been for sale for 2 1/2 years. It's been listed with three realtors. The price is a tad high but nothing that a little negotiating won't get down.

I know that the inside is in good shape. The house looks good on the outside. It's a great neighborhood.

I have no idea what's holding things up. During that time, houses in the neighborhood were snapped up quickly.

I can only surmise that the owner is stubbornly clinging to the exact asking price and won't go down a bit.

[Roselvr]

Originally Posted by jamary1

Two houses down from me sits an empty house that's been for sale for 2 1/2 years. It's been listed with three realtors. The price is a tad high but nothing that a little negotiating won't get down.

I know that the inside is in good shape. The house looks good on the outside. It's a great neighborhood.

I have no idea what's holding things up. During that time, houses in the neighborhood were snapped up quickly.

I can only surmise that the owner is stubbornly clinging to the exact asking price and won't go down a bit.

The owner not wanting to "play ball" by negotiating on the price can be what the issue is.

When we sold June 2022, we had the offer on the first day of listing. We could have gotten more but didn't want to be listed longer then a few days because showings were crazy busy. We were happy that the offer came from the buyer who spoke to my hub for an hour, he loved the house. His wife never looked at it until 2 weeks later, she was very happy with it.

They really wanted to buy in my development because they had family there, it's very hard to buy in my development since the builder stopped building. It was also a great house because there was only one neighbor. The property next to us that was on the corner was a wet lot, it would never be built on.

[Miss Hepburn]

Originally Posted by wavylines

Thanks to everyone out there. Your responses are very much appreciated.

Have you clicked on the thumbs up at the bottom left for anyone?
And about that gluing onto a tray? Use an EMPTY pretty bottle...like cobalt blue.

At one backyard - I helped a friend sell, also, by making the picnic table area look like they just had a party ...red plastic table cloth, crepe paper strung up and the cups, red and blue and green empty
liter soda bottle all glued.
The house had not sold for TWO YEARS ...she asked my help...it sold in 2 weeks.
Oh, plus the other things I mentioned in the house. ( I did fix one back gate hinge.)