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Thread summary:

Home buying advice in Florida, pre-hurricane Andrew real estate prices, Florida housing market recession, escalating property taxes, sky rocketing home prices

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Old 10-16-2006, 06:14 PM
 
713 posts, read 2,424,369 times
Reputation: 148

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Best wishes in buying your home. You have the pick of the bunch and some great prices too! Perfect timing!

 
Old 10-16-2006, 06:35 PM
 
Location: Florida
2,209 posts, read 6,901,981 times
Reputation: 599
[quote=shannon94;127930]
Quote:
Originally Posted by Shores9 View Post
No doubt there’s excess inventory… that's what happens when people become paralyzed (blinded by the hype) and stop buying. Fortunately for most a house is not a stock and has utility. They can continue to live in it rather than sell. That leaves builders and investors.


"Blinded by the hype and stop buying"...now thats funny. I think there's excess inventory because it has become U-N-A-F-F-O-R-D-A-B-L-E to a large percentage. And with all the foreclosures currently out there people obviously "bought blindly".

Hahaha great comeback and so true.
 
Old 10-16-2006, 09:02 PM
 
Location: St Pete -- formally LI, NY
628 posts, read 1,674,229 times
Reputation: 231
Default Truth Hurts

Unaffordable! How can this be? Everything was moving along fine [for the past 20 years] then all of a sudden everyone's crying “nobody can afford a house anymore”. Florida especially suffers from this as many people found themselves at the mercy of others who saw a greater value here, people have come from all parts of the country and the world to buy here because they saw the value that long time residents of Florida have taken for granted.

Sorry you think its not affordable but plenty of others still see the value here and will continue to come. Those that are leaving are still being replace in greater numbers by those coming. If you can't cut it there’s always TN SC NC GA. Or maybe you can give up that SUV and boat, a few fishing trips and six packs too, work a little harder and keep a good thing!

Last edited by Shores9; 10-16-2006 at 09:19 PM..
 
Old 10-17-2006, 07:30 AM
 
Location: FL to GA back to FL
894 posts, read 3,961,609 times
Reputation: 427
Quote:
Originally Posted by Shores9 View Post
Sorry you think its not affordable but plenty of others still see the value here and will continue to come. Those that are leaving are still being replace in greater numbers by those coming. If you can't cut it there’s always TN SC NC GA. Or maybe you can give up that SUV and boat, a few fishing trips and six packs too, work a little harder and keep a good thing!

Are you flippin' kidding me? I don't have an SUV or a boat. I don't fish, and buy my husband six packs all the time. We work hard, make more than $80,000 year. We have a child in college and still cannot afford South Florida any longer. We have been in our house since 1992. We want to downsize, but we can't. The new taxes will kill us. Affordable, I don't think so......
 
Old 10-17-2006, 07:37 AM
 
1,868 posts, read 5,221,610 times
Reputation: 525
Quote:
Originally Posted by Shores9 View Post
Unaffordable! How can this be? Everything was moving along fine [for the past 20 years] then all of a sudden everyone's crying “nobody can afford a house anymore”. Florida especially suffers from this as many people found themselves at the mercy of others who saw a greater value here, people have come from all parts of the country and the world to buy here because they saw the value that long time residents of Florida have taken for granted.

Sorry you think its not affordable but plenty of others still see the value here and will continue to come. Those that are leaving are still being replace in greater numbers by those coming. If you can't cut it there’s always TN SC NC GA. Or maybe you can give up that SUV and boat, a few fishing trips and six packs too, work a little harder and keep a good thing!
Your many posts about "people need to work harder" are almost offensive. When people who make over 100k a year can't afford a house there is something more going on. I feel sorry for these people. Things will be better for them soon ......realtors however might not find it as lucrative when prices go down. I know...they'll have to work "harder".......
 
Old 10-17-2006, 09:00 AM
 
Location: On the plateau, TN
15,205 posts, read 10,572,870 times
Reputation: 9983
Quote:
Originally Posted by Shores9 View Post
Unaffordable! How can this be? Everything was moving along fine [for the past 20 years] then all of a sudden everyone's crying “nobody can afford a house anymore”. Florida especially suffers from this as many people found themselves at the mercy of others who saw a greater value here, people have come from all parts of the country and the world to buy here because they saw the value that long time residents of Florida have taken for granted.

Sorry you think its not affordable but plenty of others still see the value here and will continue to come. Those that are leaving are still being replace in greater numbers by those coming. If you can't cut it there’s always TN SC NC GA. Or maybe you can give up that SUV and boat, a few fishing trips and six packs too, work a little harder and keep a good thing!

If more people are coming in than leaving,why is there such a glut of houses on the market ?
I can't work harder (retired, fixed income) so I did just that - LEFT
 
Old 10-17-2006, 09:57 AM
 
Location: St Pete -- formally LI, NY
628 posts, read 1,674,229 times
Reputation: 231
This has certainly struck a chord - Sorry – don’t shoot the messenger. Taxes are high because why? We allow our government unrestricted spending without getting involved or saying no at the polls.

Our bills are high because why? We buy more than we can afford in all areas including housing and find the payments crushing. If it isn’t a boat or SUV then it’s likely to be dinners out toys for the kids etc. We all want more for ourselves and our families – Housing is only one of the items that cost more but probably the most important one. If you’re making 60-70-80 or 100k household income you can certainly afford today’s average housing! If you want the home on the beach or in those extreme high demand areas that another story.
 
Old 10-17-2006, 10:11 AM
 
Location: On the plateau, TN
15,205 posts, read 10,572,870 times
Reputation: 9983
This has certainly struck a chord - Sorry – don’t shoot the messenger.

I understand where you are coming from. I have lived in Florida for over 20 years, and the last 5 years things have really gotten out of hand with government spending,taxes,insurances,etc. When you're on fixed income it's really tough.
 
Old 10-17-2006, 10:51 AM
 
Location: St Pete -- formally LI, NY
628 posts, read 1,674,229 times
Reputation: 231
I just can’t bring myself to sympathize with anyone who’s making near 80k yr and who has owned at 10yrs ago prices and is upset about it. Why can’t you afford to live here. Your taxes have been capped and you should be sitting large on your equity position, much better than the majority of people today! Maybe you can’t afford to lose your homestead but you’ve benefited from it for many years and now if you are looking to move its time to pay the piper. The upside is you can stay in a home of significant value with low taxes and most likely a low mortgage.
 
Old 10-17-2006, 02:28 PM
 
Location: St Pete -- formally LI, NY
628 posts, read 1,674,229 times
Reputation: 231
Default Some closing comments before I hit the eject button for a cool down period.

Some closing comments before I hit the eject button for a cool down period.

We are all in part to blame for the housing market run-up and the resulting predicament. Everyone of us has ogled at the news reports and talked about what our houses were now worth with great pride. I could hear the conversation everywhere from the local supermarket to the airport to restaurants. Web sites popped up overnight giving us the latest value. Investors only acted on what everyone was saying as did the builders. We were saying how great this is and some were saying give us more. The market simply reacted to us. No one person, group company or government twisted our arms and forced us to buy or to overextend ourselves however we did potentially react improperly to the information given to us.

Fact is ill informed people can affect any market including real estate, and part of the problem is that today’s media sources are creating more of them [ill informed]. Even forums spread the word and have an impact.

Some of you real estate market bears are already right or can be right in the future. And although it’s great to play armchair quarter back if you have nothing vested, no risk, or are waiting for the opportunity to exercise your own motivations, there are many who do have [a vested interest]. For those that do “good instinct and independent research” are key elements.


Some good sources for research… see below. And PS BTW I DO think many companies publications and organizations including NAR for example have an agenda . The only information I use from them are reports on median prices and home resale statistics (the same source used by government agencies).


The office or Federal Housing Enterprise Oversight - price data including House Price Index (HPI)
US Census Bureau - Numerous Housing and demographic data/studies
Bureau of Labor and Statistics and US Census Bureau for income data
HUD for various Housing data
FDIC and the Federal Reserve for the state of affairs in our banking system and overall economy
NAR median home prices and sales statistics.
PMI’s Economic Real Estate Trends report ( ERET report) for a risk analysis view of the housing market and Market Risk Index from one of country’s largest private mortgage insurers.
Joint Center for Housing Studies Harvard University for additional independent information on housing and the economy

Best of luck to all - be back in a few weeks/months
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