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Old 05-07-2007, 09:17 PM
 
Location: Old Town Alexandria
14,492 posts, read 26,601,012 times
Reputation: 8971

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Quote:
Originally Posted by Evey View Post
Yes. Manatee County. I have seen more 50+ year old houses that have never been updated and sellers are still asking 2004 prices.

I looked at a house last weekend that the owner purchased 10 years ago for $66K. It still has the 1952 kitchen (most of the drawers & cabinets are out of square), the one & only bathroom was too small to walk in frontwards (had to do the side slide), master bedroom not big enough for a bed bigger than a double if you have a dresser, no garage, small yard with no grass, in a so-so neighborhood. Seller is asking a reduced price of $188K for this gem that has no money put into it.

I read in the Bradenton Herald today that there are more than 5,000 homes for sale in Manatee County right now.
correct me if I am mistaken but a 50 year old house in Florida?
You are buying the land ONLY- the house may as well be razed. In S florida people look at 8 year old housing as too old and a handyman special. Florida is NOT NY. There are other states to choose. JMO
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Old 05-08-2007, 03:35 PM
 
165 posts, read 657,220 times
Reputation: 27
Even if feds lower rates it won't matter. SUPPLY AND DEMAND are an issue now when all that happen there was not that many houses on the market as like now. Also people will have to have a larger down payment . i don't think will see anything like that again in a long time .
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Old 05-08-2007, 04:33 PM
 
Location: Naples
672 posts, read 906,395 times
Reputation: 63
Default how bad is it??

Quote:
Originally Posted by sunnyhelena View Post
correct me if I am mistaken but a 50 year old house in Florida?
You are buying the land ONLY- the house may as well be razed. In S florida people look at 8 year old housing as too old and a handyman special. Florida is NOT NY. There are other states to choose. JMO
There is a legal two family house (Long Island) down the street from me for sale. It has been on the market for a year. It is now down to $550,000. We are talking about a total of 6 bedrooms and 4 bathrooms, each with a den and basement and backyard. They tried to rent each side for $1,800 a month, but cannot even do that.

There are also 3 other homes for sale on this same street which have also been on the market for at least a year and which are VACANT.
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