Asked by Robert, 11552 • Wed Apr 15, 2009
I have been studying the property market in Wesley Chapel in preparation for a relocation in the next 3 - 6 months. I have mainly been using websites such as Trulia, PascoGov, CnnMoney, etc.
Best I can tell, prices have dropped about 30% since mid 2006 and nicer houses are going for around $80-90 per sqft.
Given this, I would expect to pay around 300K for a newer 3500sqft house that sold for around 450K at the peak of the market (oversimplification, I know).
However, I am still seeing most of these type of houses listed in the high 300s, sometimes over 400K.
Is my analysis way off? Or are sellers still asking too much? Given the recent sales figures, I can't imagine that a lender's appraisal will come close to these numbers, especially when prices are forecast to continue dropping for at least another year.
Is there a huge difference between asking price and sale price?
(And please don't tell me to contact a realtor - I already know I need to do that!!!)
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