Robbyn

Lisa, thanks again for answering my question. I was not trying to sling mud at the entire Realtor industry. I guess it may have come across that way. I have been burned by a broker (not in the DAB area) who was not a member of the MLS, and had an exclusive listing that I ultimately ended up buying as a cash transaction. The broker, and the house, both looked good on the surface, but upon closer examination were something I should have ran hard and fast from. Live & Learn! I am trying! LOL

Anyway, I know appraisers are not going to help me, so I imagine a Realtor is my best resourse. I have access to the tax rolls, but there again, that won't tell me if the house has been remodeled, or if it needed repairs when sold. I have been watching the market over there for over a year now, and I know what you are saying. They sit on the market here too unless they are priced well below value - or what the percieved value is.

I do have a question based on your answer. What happens to the sale of a home if the contract contains an appraisal contingency, it appraises out at the agreed selling price, then the bank loweres the appraisal? How much more (% + time) do you personally think the market in the DAB area or Fl in general will correct before it becomes stable or begins to show increases? Also, what do you think will happen with the tax reform & do you think it will help if passed? - Sun Nov 25 2007, 20:10

Lisa, Thank yo ufor your prompt reply answer! It is in Ormond 32174. I hear APPRAISERS are just confirming to the lender that a property is worth what is selling for, basically nothing more than a paid 3rd party that don't even have as much access to info and knowledge as brokers or realtors. No offence, but don't a realtor have a vested interest overall in selling a property at the highest possible price? In reality, they make their $ from commission on that particular sale, and if they keep the market high, make more $ off every sale. I am not opposed to using a BUYERS AGENT, but, I would want one that is honest and has MY best interst at heart, not the bank, the other realtor or the seller. I think it is listed too high because of the proxcimity to the main road, and also the "origional" condition. In spite of the fact that the seller maintained it the home is so definately outdated, it is like a step back in time. New windows cost a mint, as does a new kitchen, and each bathroom costs a lot as well. The "groovy" wallpaper and flooring have to be accounted for as well. How can I factor all of this into an offer when I have no idea what condition the other sold homes were in? - Sat Nov 24 2007, 17:40