Florida Housing market Thread (North Port: mortgage, lawyer, lender)

[Carbondated]

You're not in bad shape if the safety and well being of you and your family is not relevant when buying a house.

You can find houses in the under $100,000 range, just have to look for them.

What's the word I'm looking for...oh yeah....ghetto. Right...that's where you can find them.

[Mike Peterson]

I know of many 2 bedroom homes around $100,000 that are not in the ghetto as you put it.
I also know of 3 bedroom 2 bath homes in the $130-$200 range that are not in bad areas.

No, not every area is going to be zero crime and white picket fences but that is the real world.

[lostbuyer]

this is almost unbelievable!!!!!!Doctor Housing Bubble Blog: Real Homes of Genius: Special Edition, Lifestyles of the Poor and Notorious. 10 Southern California Homes that Prove a Gargantuan Housing Bubble.

[firemed]

Frist wave of the ARM loans. The Herald Tribune. “The number of homes being foreclosed on in Southwest Florida keeps growing. The three-county region logged 848 foreclosure actions in June, reports RealtyTrac, more than three times as many as the 202 in June 2006. I would say sit back and wait for the banks to unload all this worthless crap.

Foreclosures in region above last year's levels

[Floridabound09]

For some reason I feel it is not a bust at all, the fake prices are just coming back to what it was suppose to be to start with.
It cannot be a bust when it was selling for way over the price of real value, you didnt see people complain when they sold those houses at crazy profits, but many are now complaining about a bust.
Greed is what is really is.

[firemed]

Originally Posted by Floridabound09

For some reason I feel it is not a bust at all, the fake prices are just coming back to what it was suppose to be to start with.
It cannot be a bust when it was selling for way over the price of real value, you didnt see people complain when they sold those houses at crazy profits, but many are now complaining about a bust.
Greed is what is really is.

Good post ! Its all about local economics, Not what its selling for in other states or countries. Alot of people will be crying soon.

[discontented lot owner]

Everone has their opinions on the Florida crash. and I remember when I moved to San Clemente , Ca in the early 70s where ocean view homes (known as Shorcliffs)were selling for 35 K. Then some of my customers were upet because their tax appraisal for 1973 was 40k.The said things like can you beleive people are really paying 40 k???- They were. I got in at 1975 and purcased a new 2-3 for 55 K. Most of my customers were retired wealthy golfers who kept telling me it is THE PRESSURE OF POPULATION that is, and will be driving the prices up. I sold in 82 for 135k and the house was sold for 175k under a year. That house is now worth 750k. (and can you believe that people are really paying this??? Florida has recieved some of the retired boomers who retired at 50 to 55 from government jobs (20 to 30 year service). WE HAVE NOT YET SEEN THE VAST MAJORITY OF BOOMERS WHO WILL BE RETIRING AT THE AGE OF 61 (boomers born in 46 will be here next year) AND THAT WAVE WILL CONTINUE FOR A LONG TIME AFTERWARDS. We even have the post boomers who were born in the 60s.We all have been down here for a long time and sometimes when you live in a resort state long enough, you can ge tired of the luxury and oversee it like I have. There are lot of boomers up north that have a vivid dream of retiring in Florida and thats all there is to it. I personally think the future weather will have alot to do with future Florida prices.
PS I call my self discontented lot owner because of the goverments high unjust Taxes on my lots along with the communist like regulations from the FWS that are real deal killers . However. Im doing fine - done sold 5 lots because IM NOT THAT GREEDY

[firemed]

Originally Posted by discontented lot owner

Everone has their opinions on the Florida crash. and I remember when I moved to San Clemente , Ca in the early 70s where ocean view homes (known as Shorcliffs)were selling for 35 K. Then some of my customers were upet because their tax appraisal for 1973 was 40k.The said things like can you beleive people are really paying 40 k???- They were. I got in at 1975 and purcased a new 2-3 for 55 K. Most of my customers were retired wealthy golfers who kept telling me it is THE PRESSURE OF POPULATION that is, and will be driving the prices up. I sold in 82 for 135k and the house was sold for 175k under a year. That house is now worth 750k. (and can you believe that people are really paying this??? Florida has recieved some of the retired boomers who retired at 50 to 55 from government jobs (20 to 30 year service). WE HAVE NOT YET SEEN THE VAST MAJORITY OF BOOMERS WHO WILL BE RETIRING AT THE AGE OF 61 (boomers born in 46 will be here next year) AND THAT WAVE WILL CONTINUE FOR A LONG TIME AFTERWARDS. We even have the post boomers who were born in the 60s.We all have been down here for a long time and sometimes when you live in a resort state long enough, you can ge tired of the luxury and oversee it like I have. There are lot of boomers up north that have a vivid dream of retiring in Florida and thats all there is to it. I personally think the future weather will have alot to do with future Florida prices.
PS I call my self discontented lot owner because of the goverments high unjust Taxes on my lots along with the communist like regulations from the FWS that are real deal killers . However. Im doing fine - done sold 5 lots because IM NOT THAT GREEDY

What kind of loans did they have then ? Did the HOI go up there ? What kind of jobs did they have there ? Were the foreclosures as high as they are now ?This is Florida and its 2007. Good luck with your dream but I just don't see it. I sold a guy with the same story 20 acres in 2005. The bank has it now. Some boomers will come. But if we get a storm of any size all bets are off.

[discontented lot owner]

Thank you for your response, you have some good points.

Originally Posted by firemed

What kind of loans did they have then ? Bank loans in S Cal were very hard to get with high interest rates, and we had alot of (Creative Finance) that really contributed to the problem, and negative cash flow in rentals was widely accepted. Without your equity, you would be dead in the water. Did the HOI go up there ? No it didnt.What kind of jobs did they have there ?In 1980-82 jobs were getting scarce and the pay was going down , and kept on going downto where I would make probably one third (inflation adj) now compared to what I would have made then-and the prices STILL KEPT GOING UP. Were the foreclosures as high as they are now ?All I know is that I almost lost my home thru reganomics, and alot of folks I knew did loose their home too.This is Florida and its 2007. Good luck with your dream but I just don't see it. I sold a guy with the same story 20 acres in 2005. The bank has it now. Some boomers will come. But if we get a storm of any size all bets are off.

THE WHEEL IS STILL IN SPIN

[Floridabound09]

discontented lot owner

I know how you feel, the taxes are killing us all, the freebie welfare amoung is are causing this. They take and do not give like we all do.

I predicted a long time ago that the boomers will fill up Florida within the next few years, and they will be coming with a ton of money. Also, the most of them are not stupid people, they will buy at the low end of the loop and get some really good buys with the cash they will be tossing around.

I also have a lot that is empty and they keep raising my taxes on it, it almost would be cheaper to put a garage/building on it and write it all off.