Sellers Market

[Tundra]

  If any Florida folks are considering moving/selling your home, here's my experience.
I listed my parents home in Ocala Palms on Friday 2/19/21. I had two showings next day with one offer. The offer was Gov. backed FHA lender who wanted me to lay out big cash for improvements they said needed done according to the FHA guidelines. I refused without counter. Another offer Monday with a VA lender who I refused to consider as they wanted me to pay for all costs, closing costs for buyer.
   I had my Realtor amend the contract to accept conventional mortgage approved buyers only. I have a contract yesterday 2/25/21 for $95,000.00 OVER APPRAISED VALUE. I had a bidding war, they are also paying all of their own closing costs and coming in with 1/2 cash.

My Realtor is a 40 year Veteran Realtor in the same community who is a Mega Million Dollar Producer who has just won the "America's Top 100 Real Estate Agents" Award. I'm impressed and have no problem paying the commission fee. Two other homes on her street sold in 3 weeks or less, all over market value.

[Thunderbolt]

Our daughter is a realtor in St. Pete.  Talking to her last week she backs up your experience.  People going bananas with offers way over asking price.  You did good to stick to your guns.

[Tundra]

  Yes, That exceeded my wildest dreams. Homes on my street have also all sold within a month, one sold same day it was listed for 50k over market value. (It was very nice and totally updated)
   I will use the proceeds to fund my mothers memory care facility .5 mile from my home. No more trips three times a week to Ocala We can take a breath, after caring for my Father for the last year, he recently passed. It's tough heart breaking work, especially at a distance.

Hope to get more riding in this year.

[Jims99]

My wife and I are considering moving towards the west coast. Thinking around grove land up to moriston areas. We want 40+ acres out in the sticks ( paved road) so we can build an air b/b. Not sure where to start, the realtor I was using just passed. He was great, knew a lot about several areas and what areas would except our ideas and what county’s were harder to work with. We’re on the east coast and don’t know much about the central to west part of fl. Would like to stay somewhat close to the villages, Orlando, I75 so there’s something for guests to do. (Not too close)
Any ideas of an area and or realtor I could start with. Want a small town that wants to stay small. Really getting tired of the city and their politics. Thanks.

[John Schmidt]

Doug, it's much the same up here in the Green Bay area. I've been looking to buy in the area and not knowing the city's questionable areas I have to rely on the agent's knowledge. But, it's also a seller's market up here with homes selling for $25k or more over asking price. I've made offers on three which I thought were reasonable, only to find I was among the lowest offers. If I could find a reasonable place to buy down there, I'd move back now that treatment is overwith. However it doesn't appear that's going to happen any time soon and the years are moving by. Maybe I could find a reasonable place to rent for just the winter, that would REALLY be a treat. Wisconsin; ten months of winter and two months or poor sledding. 

[JimC]

I just got back from Florida. We were staying at My son in laws family condo in St. Augustine as it was empty.

They listed it at $40,000 over the last comparable sale (in October) in the complex of about 200. They listed on  Feb. 1st, and received several offers within the first week. They accepted a cash offer only $5,000 less than asking price.

Jim

[John Schmidt]

Oh good, Jim...you're back. Now you can come up and spend the day helping me rewire/adapt wiring to the trike. Bring Valium. 

I did do some investigating of the Palm Coast area, market is no different at the moment. I figure with Biden in there eventually things are going to tighten up with loss of jobs through job attrition...pipeline being shut down a good example of uninformed decisions. I'll just be patient...but the years are passing me by.

[Jess from VA]

John, I just had a thought on your desire to stay in FL in winters. (if not permanently)

Of course, FL rentals are busy in winters, and not in summers.

But I have heard (read) that people with money and nice places often like to have someone stay in them rather than leaving them vacant for lengthy periods.  But they DO NOT want them put in ordinary rental for ordinary use and abuse.  Rather they look for trustworthy individuals (with no pets or kids), often through property management firms, to find the right kind of people to perform this service, and often with no rent at all.  A trade of services, as it were.  You worked there for many years in FL govt (as I recall), and I wonder if you might be able to put out feelers for such a possibility for yourself?

Just a thought.  (but don't mention motorcycles)   

[DGS65]

My son lives in Palm Harbor he has been renting for the past couple years recently he decided he would like to buy i stead of resigning his lease for the past three months he has been searching he has only found one place he would be willing to make an offer on he bid $5k over asking which was already over priced and his offer was rejected do to the fact he has an FHA loan approval.  I may have to either co sign or buy it myself then do some sort of rent to own deal with my son.
It this point he just had to resign his lease for a year.  If he finds a place he will have to pay $2400 to brake his lease, which wound such!

[John Schmidt]

John, I just had a thought on your desire to stay in FL in winters. (if not permanently)

Of course, FL rentals are busy in winters, and not in summers.

But I have heard (read) that people with money and nice places often like to have someone stay in them rather than leaving them vacant for lengthy periods.  But they DO NOT want them put in ordinary rental for ordinary use and abuse.  Rather they look for trustworthy individuals (with no pets or kids), often through property management firms, to find the right kind of people to perform this service, and often with no rent at all.  A trade of services, as it were.  You worked there for many years in FL govt (as I recall), and I wonder if you might be able to put out feelers for such a possibility for yourself?

Just a thought.  (but don't mention motorcycles)   

How would I sneak the trike past them? Of course they might look at me and say he's 83 yrs. old, how much heavy partying can he do? I often ask myself that same question but it tires me out so I have to take it up after naptime.