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Old 09-03-2015, 11:42 AM
 
21,074 posts, read 30,105,233 times
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Quote:
Originally Posted by chopchop0 View Post
I think there are two different housing markets out there The overbuilt cookie cutter lower-priced segment with more supply and the more desirable, higher-priced market that has lower inventory. I could see housing prices slide in the former rather than the latter areas.
I agree. The newer overbuilt cookie-cutter segment to me would seem prime for a bubble burst.
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Old 09-03-2015, 03:43 PM
 
Location: FLORIDA
8,964 posts, read 6,190,884 times
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Quote:
Originally Posted by 1insider View Post
Yep, the Space Coast beaches market is entirely different than Mouseland. Those foreigners aren't buying over here in any great numbers.

Well, compared to Orlando, ur probably right. since Orlando is one of the top 3 markets for foreign buyers, but to think the Space Coast is immune is crazy. I bet there are a lot of foreign buyers over there, just not at the same level.
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Old 09-03-2015, 07:59 PM
 
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Quote:
Originally Posted by 1insider View Post
The conditions that are described in that article (mass purchases of condos by private equity and hordes of foreign buyers) are peculiar to southeast Florida. Nothing even close to that scenario exists in my area, the Space Coast. Anyone seeing this outside the SE coastal market?
I have a house on the Spacecoast as well and the homes on my street are only going up!
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Old 09-04-2015, 02:37 AM
 
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Quote:
Originally Posted by StreetSmarts View Post
Well, compared to Orlando, ur probably right. since Orlando is one of the top 3 markets for foreign buyers, but to think the Space Coast is immune is crazy. I bet there are a lot of foreign buyers over there, just not at the same level.
Immune to what? There are not "lots" of foreign buyers on our beaches. In fact, very few. Number one group of buyers of beachfront condos in Cocoa Beach and Cape Canaveral are exiting Florida residents followed by residents of northeastern states with the southern and midwestern states bringing in a distant third. We get some Canadian buyers but their currency slide has slowed that to a trickle. You could round up all the Euros and South Americans who bought in 2015 and put em in a smart car.
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Old 09-04-2015, 06:05 AM
 
21,074 posts, read 30,105,233 times
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Quote:
Originally Posted by JMC49 View Post
I have a house on the Spacecoast as well and the homes on my street are only going up!
That's kind of the point, bubbles occur when prices rise minus sustainable market conditions to keep them there.
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Old 09-04-2015, 06:23 AM
 
Location: Punta Gorda, FL
773 posts, read 529,967 times
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Quote:
Originally Posted by 1insider View Post
The conditions that are described in that article (mass purchases of condos by private equity and hordes of foreign buyers) are peculiar to southeast Florida. Nothing even close to that scenario exists in my area, the Space Coast. Anyone seeing this outside the SE coastal market?
We're looking to buy in the Punta Gorda area. Our realtor gave us a chart that showed a 25% increase in home prices since 2011. In 2011 house were dirt cheap. So that was the bottom. Today it's about half way back to the 2005 peak, if that chart was correct.

She also said inventory is at a 10 year low. FWIW...
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Old 09-04-2015, 06:32 AM
 
422 posts, read 300,399 times
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This is what is going to happen, when the foreign currency dries up (which is in process of doing) Gen Yers certainly aren't going to keep the market going and neither are retiring boomers. Housing only has one way to go at this point. Greed Greed Greed is all you have seen the last 15 years in real estate and even after the crash they are doing it again. It WILL NOT end well and those that think this up-trend will continue indefinitely need to pick up a microeconomics book.

Quote:
Originally Posted by JMC49 View Post
I have a house on the Spacecoast as well and the homes on my street are only going up!
Did you even read the article?
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Old 09-04-2015, 02:11 PM
 
Location: FLORIDA
8,964 posts, read 6,190,884 times
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Quote:
Originally Posted by chaseo1 View Post
This is what is going to happen, when the foreign currency dries up (which is in process of doing) Gen Yers certainly aren't going to keep the market going and neither are retiring boomers. Housing only has one way to go at this point. Greed Greed Greed is all you have seen the last 15 years in real estate and even after the crash they are doing it again. It WILL NOT end well and those that think this up-trend will continue indefinitely need to pick up a microeconomics book.



Did you even read the article?

Agreed. Once the foreign buyers stop buying, it will slow down incredibly. Wages are the same in FL as they were 15 yrs ago.
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Old 09-04-2015, 07:46 PM
 
17,361 posts, read 10,452,595 times
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Quote:
Originally Posted by Tujuleez1 View Post
We're looking to buy in the Punta Gorda area. Our realtor gave us a chart that showed a 25% increase in home prices since 2011. In 2011 house were dirt cheap. So that was the bottom. Today it's about half way back to the 2005 peak, if that chart was correct.

She also said inventory is at a 10 year low. FWIW...
Ask what the increase in the last 12 months has been. The increase since 2011 is about 5% a year and that is close to normal. Half way back to 2005 is still down and in more desirable States like CA, many areas are just about back to their peek.Near the coast in So Cal. FL does not have the appeal it did in years past and price and weather are the two main drives now and weather away from the beach is not that good as it is toooo humid. The coastal areas and near major cities will do OK, but beyond that I suspect prices will level off and then drop over the next year or so. Remember asking price is not the standard, rather sale price and that will virtually always be lower.
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Old 09-28-2015, 09:21 AM
 
Location: Punta Gorda, FL
773 posts, read 529,967 times
Reputation: 980
Quote:
Originally Posted by expatCA View Post
Ask what the increase in the last 12 months has been. The increase since 2011 is about 5% a year and that is close to normal. Half way back to 2005 is still down and in more desirable States like CA, many areas are just about back to their peek.Near the coast in So Cal. FL does not have the appeal it did in years past and price and weather are the two main drives now and weather away from the beach is not that good as it is toooo humid. The coastal areas and near major cities will do OK, but beyond that I suspect prices will level off and then drop over the next year or so. Remember asking price is not the standard, rather sale price and that will virtually always be lower.
Lately it seems in the area we were looking, prices are beginning to rise noticeably. Maybe it's the season, I don't know. Most of the houses we've considered are under contract or sold and nothing similar in house and price is coming in to fill the void. It's just a gut feeling but I think a frenzy may be on the horizon.

But in the rest of the country, reports I've read say sales are flat. They say the only hot spot is SW Florida now.
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