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View Poll Results: When will the housing Bust end in FL?
By the end of this year 21 8.30%
Spring 2008 28 11.07%
Summer 2008 16 6.32%
Fall 2008 17 6.72%
Winter 2008 12 4.74%
Spring 2009 29 11.46%
Summer 2009 18 7.11%
Fall 2009 11 4.35%
Winter 2009 9 3.56%
Sometime in 2010 38 15.02%
Sometime in 2011 13 5.14%
Sometime in 2012 11 4.35%
2013 or later 30 11.86%
Voters: 253. You may not vote on this poll

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Old 10-22-2007, 12:57 PM
 
778 posts, read 1,456,503 times
Reputation: 442

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Quote:
Originally Posted by tallrick View Post
Most people in the Miami area were not even in the US when the last real estate recession hit, so they are in denial. The concept of FALLING real estate prices is something they cannot comprehand. Give it time, prices will have to come down or nothing will sell, and a sale is better than just leaving a place empty to become a crack house.

I bet the majority of people who believed in the recent housing bubble being some new demographic trend were not adults active in the RE market down here from about 1988-1996 when our population was growing at a nice clip except for a very small stretch during the short recession. Not a stretch to assume most were either too young to care(most under 40 would qualify), were in another field and didn't notice, lived in a third world country to the south where currency debasement was always the norm or came from the metro NYC, Boston markets where real estate since 1982 has minted a gold mine in their personal experiences..

Last edited by JohnVosilla; 10-22-2007 at 12:59 PM.. Reason: typo

 
Old 11-10-2007, 06:03 PM
 
22 posts, read 108,000 times
Reputation: 14
Default Hows the housing market now??? If you worked in Ft Pierce???

My husband and I (mid 40's) are moving to the area. Me first in January 2008. I will have a job, he won't, just collecting a pension.

I will be working in Ft Pierce.

I would like to keep travel time to 30 minutes. Want a middle class house with a decent sized yard, that I can fence for my two big dogs.

Prefer a newer house of about 2000 Sq feet. want 3-4 bedrooms, dad might move in (77)

Don't have kids, but can't stand bad neighborhood kids. We are both law enforcement.

I have seen advice to rent for about a year. Yard is more important to me than house size.

I appreciate all of your experienced advice. And don't mind rental offers either!
 
Old 11-10-2007, 06:14 PM
 
2,143 posts, read 7,183,957 times
Reputation: 1138
Come down first and look around. Don't go in blind. Obviously, you are limited to Vero or Port St. Lucie. Vero is probably your best bet. Most houses in PSL are on about 1/4 acre.
 
Old 11-16-2007, 11:23 AM
 
Location: Tampa
3,981 posts, read 9,413,307 times
Reputation: 1171
25 real estate markets poised to fall - Orlando (1) - FORTUNE

the bigger floriduh markets are def due for a correction

woot woot, now maybe i can afford a home!
 
Old 11-16-2007, 04:11 PM
 
Location: Living in Paradise
5,702 posts, read 22,230,815 times
Reputation: 2986
Lightbulb Where housing is headed

Fortune's exclusive calculations show that big declines are needed in markets around the country to bring home prices back to their historical relationship to rents.
Housing Woes - Fortune Magazine
 
Old 11-16-2007, 04:58 PM
 
548 posts, read 389,849 times
Reputation: 126
Quote:
Originally Posted by sunrico90 View Post
Fortune's exclusive calculations show that big declines are needed in markets around the country to bring home prices back to their historical relationship to rents.
Housing Woes - Fortune Magazine
Nice article. The time tested models of no more than 3 times income and a rent multiple of under 150 will again determine housing prices.

Unfortunately some people are buying houses today for $300,000 that peaked at $400,000 during the bubble, but will be worth $200,000 when all is said and done.
 
Old 12-06-2007, 09:54 AM
kar
 
Location: Tampa Bay
179 posts, read 695,248 times
Reputation: 105
Default Housing Prices to Drop 30% before Slump Ends

I thought anyone thinking of moving to Punta Gorda should read this:


Housing Slump - Real Estate * US * News * Story - MSNBC.com
 
Old 12-06-2007, 10:22 AM
 
35 posts, read 121,410 times
Reputation: 18
Not really sure what those numbers are based on, but many areas in Florida are already selling for at least 30% off the peak.

In my neighborhood in Naples, townhomes were selling for $345,000 at the peak (end of 2005). Today, we have 10 out of roughly 100 units for sale with prices ranging from $200,000 to $345,000 for the same unit.

A couple actually sold a few months ago for around $210,000: 39% off of peak.
 
Old 12-06-2007, 10:24 AM
 
Location: America
6,985 posts, read 15,453,543 times
Reputation: 2067
and expect prices to plummet further. Good times for all.
 
Old 12-06-2007, 10:51 AM
 
Location: western East Roman Empire
6,555 posts, read 10,626,337 times
Reputation: 5650
Ever credible Moody's, which rated subprime mortgage paper AAA during the bubble period, released this report.

You do well to question what these numbers are based on - generally wide-ranging aggregates - and trust instead your own observations on the ground. The same goes for reported inflation, a bunch of crock.
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