Real estate prices....absoloute madness....

Jon Gill · Postby **Jon Gill** » February 26th, 2009, 1:09 pm

I have noticed this is a new bench mark for houses/ apartments as @ this price new buyer is not subject to stamp duty !!!

Well lets see where real estate prices reach by december 09.

Just look @ the housing stock in the newspapers & how they have gone from the 1.5M etc down to just under the 1M mark.

Agents just cannot sell ANYTHING & the public is now playing the waiting game as the developers are trying to flip their stock & telling me (as i'm in the market for one) they cannot sell lower due to the construction prices.... I say yeh right....Its NO use to them keeping it there & paying interest on loans as EVERY day they can't sell they are loosing money.

I suspect eventually developers have to cut thier losses & sell probably & just breakeven or slightly lower.

Ronnie203 · Postby **Ronnie203** » February 26th, 2009, 2:35 pm

Real estate prices will drop drastically.....and soon

Mr. Red Sleeper · Postby **Mr. Red Sleeper** » February 26th, 2009, 2:37 pm

Jon Gill,

We have no choice now...The waiting game has been on for a while.

Postby **wagon r** » February 26th, 2009, 2:46 pm

prices droppin already....HCL sold out the Crossings in Santa Rosa....they dropped prices from $1.7m to $875k.....

....developer by me can't get 3 houses sold....sent home all the contractors....

White CZ4A · Postby **White CZ4A** » February 26th, 2009, 2:52 pm

^ I love it.
hopefully plenty great deals for those with cash in hand!

Mr. Red Sleeper · Postby **Mr. Red Sleeper** » February 26th, 2009, 2:53 pm

^^And imagine its only just begun...

RASC · Postby **RASC** » February 26th, 2009, 3:04 pm

Great news...been overal ridiculous for a while. Houses rivaling south Miami prices---> WTF

SmokeyGTi · Postby **SmokeyGTi** » February 26th, 2009, 3:04 pm

^^ not everyoen who developing land/houses took out loans eh. only those who did so may have to cut their losses.

RBphoto · Postby **RBphoto** » February 26th, 2009, 3:07 pm

RASC wrote:Great news...been overal ridiculous for a while. Houses rivaling south Miami prices---> WTF

You could get a house in south Miami for 800,000TT?

RASC · Postby **RASC** » February 26th, 2009, 3:11 pm

crossdrilled wrote:
RASC wrote:Great news...been overal ridiculous for a while. Houses rivaling south Miami prices---> WTF
You could get a house in south Miami for 800,000TT?

Just a RANDOM search

http://www.trulia.com/property/10743447 ... i-FL-33196

...and 800K is on the lower spectrum of things in TT

proud · Postby **proud** » February 26th, 2009, 3:23 pm

Keep in mind that it also works negatively, if you bought a property for 1.5 Mil - it is now worth 1.0 Mil on the market and you still paying your mortgage on the 1.5...

Mr. Red Sleeper · Postby **Mr. Red Sleeper** » February 26th, 2009, 3:35 pm

Buyers market....cycle starts over every now and then

Postby **wagon r** » February 26th, 2009, 3:38 pm

...but the problem now is that greedy persons are buyin up all the property and those who really need a home aren't getting the chance to own a home.....

Postby **Ignorant Ignis** » February 26th, 2009, 3:45 pm

construction prices are falling ppl ..... keep playing the waiting game

cornfused · Postby **cornfused** » February 26th, 2009, 3:53 pm

greediness and gullibility drove those prices.

web_phantom · Postby **web_phantom** » February 26th, 2009, 4:14 pm

wagon r wrote:prices droppin already....HCL sold out the Crossings in Santa Rosa....they dropped prices from $1.7m to $875k.....

....developer by me can't get 3 houses sold....sent home all the contractors....

I wonder how much he want for them now..... not the 1.4 he was asking for sure... if it drop below 900 I might take a look again

Mr. Red Sleeper · Postby **Mr. Red Sleeper** » February 26th, 2009, 4:23 pm

For a webphantom, yuh slippin...ent the man now say $875?

Postby **wagon r** » February 26th, 2009, 4:25 pm

two different developments pallie.....

WP...he still over $1.1m.....

Mr. Red Sleeper · Postby **Mr. Red Sleeper** » February 26th, 2009, 4:30 pm

wagon r wrote:two different developments pallie.....

WP...he still over $1.1m.....

That has been already eyed and arranged in some cases by govt officianados and their relatives / friends..../fact

web_phantom · Postby **web_phantom** » February 26th, 2009, 4:31 pm

When he come down to under the 1 mil mark... i may have a look again

AbstractPoetic · Postby **AbstractPoetic** » February 26th, 2009, 4:40 pm

Highly doubt the prime real estate in areas like Fairways, Moka Heights or Federation Park is dropping. They dare not allow outsiders to infiltrate these communities and I don't blame them.

Postby **Team Loco** » February 26th, 2009, 5:30 pm

i have already dropped my price.....

AbstractPoetic · Postby **AbstractPoetic** » February 26th, 2009, 5:37 pm

Dropping a home that cost millions to a few million does not make it accessible. Besides which, banks are no longer lending as they were before. The only persons benefitting from this are those with the means to invest without having to borrow from private or public lenders.

Marct · Postby **Marct** » February 26th, 2009, 5:43 pm

AbstractPoetic wrote:Highly doubt the prime real estate in areas like Fairways, Moka Heights or Federation Park is dropping. They dare not allow outsiders to infiltrate these communities and I don't blame them.

Think again, they arent holding their values as b4

AbstractPoetic · Postby **AbstractPoetic** » February 26th, 2009, 5:55 pm

MarcT, I am assuming most of the residents in these areas own their property or for the most part have enough equity in their home to prevent foreclosure.

web_phantom · Postby **web_phantom** » February 26th, 2009, 6:43 pm

AbstractPoetic wrote:MarcT, I am assuming most of the residents in these areas own their property or for the most part have enough equity in their home to prevent foreclosure.

you would think so eh..... :!:

web_phantom · Postby **web_phantom** » February 26th, 2009, 6:44 pm

[quote="Team Loco"]i have already dropped my price.....[/quote

what you have to sell.....??? We not talking 'bout the price for ah trick... eh

Postby **wagon r** » February 26th, 2009, 7:07 pm

web_phantom wrote:
AbstractPoetic wrote:MarcT, I am assuming most of the residents in these areas own their property or for the most part have enough equity in their home to prevent foreclosure.

you would think so eh.....

...so very right.....many of the "well to do" aint doing so well....doh let fancy car and big house fool yuh....

VII · Postby **VII** » February 26th, 2009, 7:57 pm

AbstractPoetic wrote:Highly doubt the prime real estate in areas like Fairways, Moka Heights or Federation Park is dropping. They dare not allow outsiders to infiltrate these communities and I don't blame them.

what outsiders? those places are plagued with some of the most disfunctional criminal families ever,and you think a little gated community could stop market forces,I know of 2 brand new very large houses just sold in a gated part of moka for under 3mill each,they were listed at almost 5mill . . .

Zeriam · Postby **Zeriam** » February 26th, 2009, 8:07 pm

pioneer wrote:Hold a fete next year, you will make plenty money to buy house.

can u say buju??

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Real estate prices....absoloute madness....

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