I thought that it already was a retiree hotspot???
Realtors in Florida
- Thread starter Zee09
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Zee09
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Saw a house reduced to $899k today. Reduced $30k recently.
Speculator which is fine. I know the lot as I looked at it too awhile ago and it was $64k . I don't know what they paid as I know it was less.
The guy gets a local builder that lists prices etc online. He built a house that comes fully upgraded as standard at $455k. Has just about every extra as standard...
Not selling...I know when you marry a lot with a house you bump up the price of course but his margin reflects the covid years.
That ship has sailed...
Speculator which is fine. I know the lot as I looked at it too awhile ago and it was $64k . I don't know what they paid as I know it was less.
The guy gets a local builder that lists prices etc online. He built a house that comes fully upgraded as standard at $455k. Has just about every extra as standard...
Not selling...I know when you marry a lot with a house you bump up the price of course but his margin reflects the covid years.
That ship has sailed...
Link for our review and criticism
I click on this thread and immediately I got a spam call from Florida. This thread is malware. 
People are broke and they can not afford the house plus crazy insurance and taxes.
Zee09
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And the credit cards finally maxed out....
Heat, humidity, bugs and hurricanes, what’s not to like?
I should’ve shut up incoming spam call.
Many Florida homeowners now have to rely on Citizens Insurance for their property.
Basically the insurance of last resort.
https://en.wikipedia.org/wiki/Citizens_Property_Insurance_Corporation
I’ve haven’t had homeowners insurance for the past 12 years.
Basically the insurance of last resort.
https://en.wikipedia.org/wiki/Citizens_Property_Insurance_Corporation
I’ve haven’t had homeowners insurance for the past 12 years.
Zee09
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And you have the money and finances to pull it off too.. That tells us something.
Zee09
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More nonsense without going to the P word.... please no P or T words
Big fraud about property taxes in FL.
Each resident homeowner will get up to a $1000 discount....wow enough for 3 happy meals...
Gloom and doom...Florida is imploding...apparently in most areas nobody got the memo...
I'm not seeing blow out prices
More smoke and mirrors
Big fraud about property taxes in FL.
Each resident homeowner will get up to a $1000 discount....wow enough for 3 happy meals...
Gloom and doom...Florida is imploding...apparently in most areas nobody got the memo...
I'm not seeing blow out prices
More smoke and mirrors
Realize Florida is a very big place. You have the international hot-spot of Miami, all the way to the blue collar areas North of I-4.
I think this is a 3-5 year process. You have a declining retiree population to fill the constant influx needed to fill the retirement areas. Thats likely 5 years out, probably in the second tier places around the middle of the state - both sides like Tampa and Stuart, etc. You might see a selloff of all the rental condo's and such in and around Orlando if there is any economic downturn, although lots of those are owned by foreigners, trying to get their money out of their own country so maybe not?
You may never see a decline in the hottest spots - Miami, West Palm, Naples the keys, etc.
GON
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A chart would need to be posted with the same exact timeline, with prices.
Unless the chart shows significantly lower prices than 2017, the inventory level is irrelevant.
I suspect zero price declines in this area if chartered just going back three years.
Your not looking at it correctly. We don't have a supply demand curve, but we can infer. If the supply is rising, then either some or all are true:
1) Demand is falling, which will ultimately lead to lower prices.
2) Supply is being increased, which will ultimately lead to lower prices
3) The price is too high, which will ultimately lead to lower prices.
In any case or in combination, the price will be lower in the future (adjusted for inflation) barring an external influence - ie more people wish to move to Punta Gorda for some reason. The price in 2017 is irrelevant. Looking back 3 years is also irrelevant. Housing prices and Supply / demand curvers are very slow to react. Its not like a stack of beer on sale that sells out in a hour. Housing prices can take years to arrive an an equilibrium, if they ever do.
What we all would obviously like is a a supply / demand curve would include the supply, demand, and price elasticity. But we never get that because the data gets delayed, in some cases for years (another reason to get rid of NAR - but I digress).
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The issue with all of these reports is that a few house here and there up or down will move those percentages when there are only 4000 units listed. Those could be single family, multi family, etc. Do not for one second think that FL is having a housing crisis. Yes insurance is an issue however if you compare property taxes, cost of living, etc FL is still a ceap bet.
That's still going to take a couple a few years.
People think of a housing "bust" as what happened in 2008. But that was a deflationary banking bust they blamed on housing. You won't see that again.
A typical housing bust takes decade(s), a slow moving train wreck, loosing a few % a year, or simply just not keeping up with inflation (prices flat, inflation 3%, meaning you lost 3%).
The only likely change to this dynamic is some external shock - job loss, high taxes, high insurance, etc.
There is the ending of the taxpayers paying people's mortgages. Once the foreclosure spicket opens it's going to be lookout below!
