[sunrico90]

Will the drop in homes prices generate a come back in the Florida market?

Is this taken place in your town/city?

Is this a good time to purchase a new home?

Will homeowners insurance drop to aid the housing market in Florida?



Sales of existing homes fell for a sixth straight month in September and the median sales price dropped on an annual basis by the largest amount on record, further documenting a lukewarm housing market.

http://www.foxnews.com/story/0,2933,...ess/realestate

[Jammie]

Sunrico, I'm so glad that you posted this. I was wondering how the housing market was doing down there. I really wish I had an answer to all your questions. It'd be nice to know ahead of time when it's the right time to buy. As to whether the markets are dropping in my area~NO. I live in So. Dak. and we didn't see any type of appreciation like you had down there. Housing has gone up considerably, but nothing like Florida's had. Our market is very stable right now.

We're still keeping our eyes open on Fla. housing and apartment rentals. We hope to move to a warmer climate in the future. We just took a nice vacation and definitely like the Ozark area, but we probably won't know for sure where we're going until a few weeks before we actually go.

If we relocate, we definitely plan on renting an apartment. It's been several months since we checked apartments in Fla. and we just checked them again today. We couldn't believe it!!! One of the apartments we'd been looking at previously dropped their rent by 75 a month. I don't know if that's the norm down there or if it goes by the fluctuation of the housing market, but we were really surprised. I definitely want to follow this thread. I'm curious as to how much longer prices will fall or how low the market will go.

[sunrico90]

In Navarre, Fort Walton Beach, and Crestview the housing market is a buyers choice. We had a home reduced from $230K to $189K just to ensure that the house will sell. This guy is relocating (military) to Tinker AFB OK, so he needs to sell....Browse the listings and keep an eye on the market....

[BigJimSlade]

Tampa, FL. I saw a house in good condition with an appraised price of $250K go for $198K just because the man had to sell and move on. He didn't want to deal with the market, and he was rewarded by getting it sold in less than a week. He still made 70% profit from what he purchased it for a few years ago, and the buyer got a great house at a low price. Good deals are out there.

[MrTudo]

In my opinion it has a long way to go. I sold my house in West Boca Raton ( between glades and palmetto, in Loggers Run ) for 235K 9 years ago. At that time the average house in the neighborhood was 175K-250K. My neighbor across the street was management for Fedex and he made 75K a year. His Wife was a part time schoolteacher and she made about 25K a year. He drove a 10 year old mazda and she drove a fairly new mini van. My neighbor to the right was a critical care nurse in a hospice facility and she was making roughly 100K a year. I was making more than that. The neighbor a few houses down was a used car dealer and I think he was making in that realm, maybe a little more.

Roughly 100K a year, household income with some people making maybe 150K. Houses in the 175-250K range. Nobody living like donald trump, that's for sure.

Those houses I believe went to half a million dollars. Would someone please tell me if Mr Fed Ex, Mrs Nurse, Mr Used Car Dealers income levels doubled or more? I believe the insurance and property taxes did.

I moved and bought a house in Paddock Park I, Wellington. I paid 340K, put a LOT of money into it and ultimately left the country as I went into semi retirement. I had it listed for a year starting at 599K and finally sold it for 442K, and lost 100K on the house which closed the week of 9/11/01. A YEAR it was listed. My property taxes were roughly $3,000.00 My insurance was close to $2500. It would be unfair to the present owners to list the address but I looked it up the other day and saw that the property taxes on that house is now an incredible $15,000.00 and the value according to one of these know it all websites is roughly a million bucks.

The price of real estate went out of control and in my not so humble opinion since the cost to maintain these houses also went psycho, it has a long ways to go before reality takes control again.

Now if you would like to show me how this country is becoming debt free, that taxes are being slashed to be more representative of a free country rather than a socialist one, that industries and manufacturing are gearing up for a positive run, that the automobile industry is moving well, that the country is at peace......that education is good and the students are well versed in mathmatic, history, business, are showing self reliance and responsibilty, that we are exporting products and good ideas around the world then I would be inclined to say we're on a positive path and things are looking good.

Speaking on debt. People keep talking about the "deficit". While the deficit is important, do you all realize the difference in deficit and debt and what the debt of this country is? I put the debt counter on the homepage of my website. It will exceed 10 trillion quite handily when the present occupant of the white house is out of office. EVERY man, woman and childs burden is currently at $26,000.00 and you better believe this government is going to collect that money as the people who own that debt expect payments. The unfunded debt is reportedly between 30 and 50 Trillion dollars which kicks off in 2008 when the first wave of so-called "baby boomers" retire and expect social security checks and that wave will continue, year after year for what, 15 years or so?

Hold on to your hats.

[Jammie]

We baby boomers DESERVE to get social security checks. I'd love to know what our generation paid into social security and medicare throughout our working years.

[Need_affordable_home]

[quote=sunrico90;138951]Will the drop in homes prices generate a come back in the Florida market?

Is this taken place in your town/city?

Is this a good time to purchase a new home?

Will homeowners insurance drop to aid the housing market in Florida?



Sales of existing homes fell for a sixth straight month in September and the median sales price dropped on an annual basis by the largest amount on record, further documenting a lukewarm housing market.[quote]


I couldnt afford Florida even with a 50% drop. Right now more than 90% are priced out of Florida. We need a drop in insurance, property taxes and house prices then Florida will become affordable to a larger percent.

[sunrico90]

I found the following home for $189K in Milton Fl. A few months back this was over $200K. Check your markets and provide feedback..


1-5 years old, 1819 SQ FT.....
Beautiful four year old home, ready to move in. Split bedroom plan, fireplace, cathedral ceilings, breakfast bar, oak cabinets, pantry, range, dishwasher and built-in microwave stay. Large master bath with walk in closet, double vanity, garden tub & separate shower, large 12x19 great room, 12x20 screened sunroom, privacy fenced back yard, roof has dimensional shingles, overhang is vynal, sprinkly system with timer. This home shows well!

http://www.era.com/media/listls/1992639_1.jpg (broken link)




The Commerce Department reported that the median price for a new home sold in September was $217,100, a drop of 9.7 percent from September 2005.

http://msnbc.msn.com/id/15427682/

[Need_affordable_home]

Good price and also at $104/foot its a very affordable home in Florida. Still 2x out of my price range but would be affordable for a dual income if you dont mind sharing the house.

[josephhawkinson]

Lately every month after housing numbers gets worse I hear the same crowd shouting "it has hit the bottom, worst is behind", and next month it gets worse and I hear the same thing. I wonder how many bottoms they think housing is going to hit? I always thought there was only one bottom.

September numbers are out there and this is record sales/price drop for the last fourty years. Now please convince me how it is going to be all fine next month... How can you convince me against my belief that next month will be worse and actually 2007 will be even worse than 2006? How can you convince me that worst is past when housing has been falling for the last 6-7 months in a row.

I know RE guys will start blaming the media and blame it on the housing inventory bluntly ignoring tha fact that media simply reports the housing bubble and inventory is just a result of slow sales not the other way around.

A lot of ARMs and toxic mortages resetting next year and in 2008 and with the current inventory levels please make one believable argument that housing will be dandy next month or the month after.

and please dont quote from Greenspan or David Leraeh.