Oak Terrace Property Owners Association

I have recently heard that a neighbor in the community has sold there single family home for well under 300k and there were 5 bidders on it because it was well under market value. There is not a single family home in this immediate area sells for under 320k for a single family home. please be aware if u are selling your home in the near future that you home is worth top dollar. At Palmyra up the road the smallest single story home will start at 380k, also Isola bella isles is going to be directly across the street from us, and the starting price will be in the mid 400's for about 2000 sq feet. so if u are planning to sell..... be informed

What are your credentials?

I always find it amusing when someone posts information claiming to be an authority on a subject and then signs himself anonymously!!! The house you spoke of was listed with Century 21. Which as far as I am concerned, is a reputable company. I wouldn't think that the real estate salesperson intended to lose money on the commission by listing it for less than it was worth. Besides, The criteria for the asking price would be determined by what other similar houses in the area were selling for at the time and the assessment from the bank. There is no shame in selling a home at a fair price. However, I think that gouging a young family for all that they have would be.

Re: Home Prices....

Dear concern realtor

To respond to your alligations regarding a below market price home sold recently in Lantern Key, if you take a look over the last few weeks in the MLS, you will notice that there are at least 9 other COMPARABLE homes that are listed in the immediate (existing)area below $300k, some priced below $275k. The statement you made in your post ''There is not a single family home in this immediate area sells for under 320k for a single family home. '' is incorrect.

As I'm sure you are well aware of, there are many other factors to consider when pricing a home: upgrades, location, age of home, and most importantly, the neccessities of the seller. Given the state of the home market today, pricing a home on specultation of new construction that is still years away is not a selling point that most buyers are concerned with.

A responsible decision has to be reached between the seller and the realtor, but it is ultimately up to the seller what the asking price should be.

Home Value

I do not think there is any worry for you remaing home owners in the neighborhood! I recently sold my home at 6809 Hendry Dr for 375,000 just to be rid of it! I could have gotten 400,000. Maybe they wanted to sell at a low price to be out of Lantern Key?