[MrTudo]

[quote=Need_affordable_home;153172]If Ocala is a high crime area, I arent even interested.

Yu isn't?.........

[Floridamex]

This is a good look at Florida housing and the Price.
http://www.sptimes.com/2006/11/05/He...lump_has.shtml

[Need_affordable_home]

Originally Posted by pslOldTimer

I'm not sure I understand your method of pricing a property by the square footage of the house.

First of all, that completely ignores any difference in the value of the underlying land. It also ignores differences in the size of the lots, closeness to appealing features, etc. And, of course, it ignores differences in the quality of the house and the materials used.

Are you saying that a house with marble foors and 3-zone Air conditioning with a paver driveway should be the same cost per square foot as a house with linoleum, no A/C and a dirt driveway?

What about condition of the house? What about amenities such as a pool?

Your 2000 square foot house could easily be worth 3 times more than mine -- or 1/3 as much -- depending an a nearly endless list of variables.

I use the price per square feet as a comparsion. Of course a nicer house, bigger lot, better location costs more per square foot and the way to find out is to do the math. Price per square feet is great when I compare apples to apples such as a similar size house and lot, both in two nice neighboorhoods. One is at $165/foot, the other $173/foot and both houses are equally good. Therefore the $165/foot is the better deal, the seller is more "motivated"

[mk1116]

"The sky is falling, the sky is falling." If you listen to predictions you will lose your mind. Everyday is another theory. After the newly elected officials take office, I am certain we will get "portability." When that happens will see a lot of movement as there is much pent up demand. Homes in my area Wellington) have only decreased in value slightly. I am not giving up on FL.

[tylerdurden]

It only takes a little common sense to look at how much homes have went up in the past few years and how little salaries have risen. The middle class can no longer afford a regular home. Those who were suckered into the interest only loans are now paying for it. There is no way that prices won't come down. Your average middles class family in FL can't afford a $200k plus house, it is just crazy.

If it doesn't come down then only investors will be buying homes here to sell to rich retirees. Most of your middles class will get fed up with having to raise their children out of an appartment and leave.

[Need_affordable_home]

House prices are definately eroding in south Florida! I saw a nice big almost new house in an AD(sorry not allowed to link) for $420k for 2500 square feet in an upper middle class gated community. The house was 5/3/2 with granite kitchen counters! Still overpriced, a fair price would be $300k or $120/foot instead of the $168/foot it is now. If that house was waterfront, add a little more to the value. You can get a house this size and this nice for $200k or $80/foot in Dallas or Houston Texas. I realize south Florida is a better location even with the hurricanes so $120/foot is fair. The prices in Texas are more or less fair, but the prices in Florida need to go down! Ditto to the prices in most other areas such as CA, NYC, NJ, etc.

[verobeach]

Houses aren't yard goods. You can't go shopping based entirely by the footage. If this were true, then the assumption is that all houses are the same inside and you could do drive-by shopping. Upgrades, window treatments, flooring, the age of the house, the condition, the area, all come into play. If someone made me an offer (house is not for sale) based on square footage, I'd tell them to kiss my behind.

[bamboosmom]

If you want to wait to buy and then miss out, that was your choice.

If you want that home that you saw on the mls and can afford it at the listed price, then why the heck would you want to wait to see if the price will drop even more? That to me is just plain silly!

You want something, then work for it.

[Floridamex]

Originally Posted by mk1116

"The sky is falling, the sky is falling." If you listen to predictions you will lose your mind. Everyday is another theory. After the newly elected officials take office, I am certain we will get "portability." When that happens will see a lot of movement as there is much pent up demand. Homes in my area Wellington) have only decreased in value slightly. I am not giving up on FL.

You may be the smartest of the bunch. Or you may be the greater Fool. Only time will tell.

[SunnyDog]

What are the 3 main determinants of housing value? I thought this was an easy one.

Location, Location, and Location.

Square footage is a distant 4th, interior decorum comes after square footage.
In real estate, it's about location, and it is location that appreciates.