[CJFlorida]

Originally Posted by Hero

Survey shows 3 of 4 homeowners believe their home has gained or retained its value, despite evidence of price decline: Home prices in the state of denial - Feb. 7, 2008

There's likely a difference between homeowners and sellers. Still it reflects the state of denial that is keeping prices high. If 3 of 4 sellers believe their homes did not lose value, then only 1 of 4 will be able to sell.

I sort of like that survey in a strange way. I know prices will drop back down to levels supported by incomes. No amount of hoping and wishing will change that. But I would rather have it happen in a relatively orderly way, slowly over the next few years. A full scale panic would be a real mess.

People also forget about inflation which is higher than the stats we read about. Their houses have lost more value than they think.

I don't mind waiting these sellers out, our rental is killer and half the cost of carrying the same house as a buyer. We shall let our money hang out in a safe CD and continue to watch prices creep down, down, down.

[Wild Style]

Originally Posted by CJFlorida

I sort of like that survey in a strange way. I know prices will drop back down to levels supported by incomes. No amount of hoping and wishing will change that. But I would rather have it happen in a relatively orderly way, slowly over the next few years. A full scale panic would be a real mess.

People also forget about inflation which is higher than the stats we read about. Their houses have lost more value than they think.

I don't mind waiting these sellers out, our rental is killer and half the cost of carrying the same house as a buyer. We shall let our money hang out in a safe CD and continue to watch prices creep down, down, down.

CJ do you visit itulip? I wanted to DM you some info but errr you have DM disabled I guess?

[kwick release]

Originally Posted by CJFlorida

That house seller should say a million thank yous that you came along! Paying within 5% of Spring 2005 pricing and having a buyer actually care that the seller is losing money will become a rare thing as we go forward through this epic crash.

I am sure the seller is happy.

The Satellite Beach and Cocoa Beach areas are littered with poperties that are nearing or already in foreclosure. Alot of investor buyers including realtors caught with their pants down holding multiple properties. As of this January, price levels for some income properties on the beach are getting close to nearing positive cashflow. For me, I will sit on the sideline for now in terms of buying real estate for investment.

[Wild Style]

Nice read about housing prices (link)

[Carbondated]

Originally Posted by Wild Style

Nice read about housing prices (link)

Fantastic link Wild Style. Thank you for posting it.

[Muggy]

Auction site in Haines City, FL (off I-4, between Tampa and Orlando).

[ConeyIsBabe]

Interestint topic. Just throwing my 2-cents worth in: I'm one of the seniors who, after living 40 years in Miami-Dade County, got fed-up with the changes, traffic, crime, noise, rude people, mosquitoes, roaches, hurricanes and humidity, AND fled 3,000 miles away to live in beautiful southern Oregon; bought a beautiful country home + 4 acres. Well, 5 years later........... now........ my old bones are COLD and my thoughts are back in Florida with the warm winters and balmy ocean breezes. I'm actually considering relocation to central FL, so I'll be back, good or bad economy. CHANGE IS A GOOD THING.

[SANDYHAIR]

[quote=SANDYHAIR;2749469]PEOPLE THINK HOUSING PRICES WILL INCEASE IN A FEW YRS .LOL In a few yrs rates MIGHT BE UP.

[sunrico90]

What will be the best approach if you want to invest in purchasing land or houses? Should I purchase auctioned houses in Miami or purchase land in north Florida?

Would comparing prices prior to 2005 would be a good approach?

Is investing on RE still a viable approach?

[Wild Style]

Originally Posted by sunrico90

What will be the best approach if you want to invest in purchasing land or houses? Should I purchase auctioned houses in Miami or purchase land in north Florida?

Would comparing prices prior to 2005 would be a good approach?

Is investing on RE still a viable approach?

its a good investment when prices are where they are supposed to be. To find out how much you should be paying, find out average household income in that area, multiply it by 3 to 3.5 to find out what the average single family home should be. Then don't buy anything that is over that price.

Go look at the link I post recently. I gives the same info I think.