Don't buy Yet! prices will go down. (Miami, Orlando: for sale, real estate)

Floridamex · 01-25-2007, 05:32 AM

Don't buy yet just sit back and wait.

The Sun Sentinel. “If you think you’re paying more to live in your condo, townhouse or gated community, consider this: It may get worse before it gets better.”

Moderator cut: Copyright material

http://www.sun-sentinel.com/news/loc...home-headlines

Jammie · 01-25-2007, 10:35 AM

Floridamex, that's a good article. Glad you shared it with us. Although we'll be renting an apartment, we were thinking about buying a condo in the future. That is something that never occured to us until this morning. I was looking at real estate in the Orlando newspaper and saw some condos from one unit that were very cheap. It said something like "Condo association in litigation RE: Finances." Then I came here and read your post so it appears that all is not well with owning a condo either. It could end up costing a tremendous amount of Association fees if the units aren't full because of people losing their units.

firemed · 01-25-2007, 03:41 PM

Its seems to me the price keeps dropping I found this today.
The News Press. “Sales of existing homes plummeted 45 percent in December, compared to a year ago, according to FAR. The median price also dropped, from $322,300 to $262,500, down 19 percent from a year ago.”

“Percentage-wise, Lee County saw the biggest decline in the state. Statewide, the numbers of sales dropped 30 percent, while the median price saw a decline of 2 percent from $205,500 to $200,600.”

Would 19% be called a soft landing ?

hiknapster · 01-25-2007, 04:02 PM

I firmly believe that's why a lot of people that own property in Florida have their "hope springs eternal" attitude. I see a lot of "Florida's great! Come on down!" on these boards. Unfortunately, people that have their hearts set on Florida jump at all the positive comments and get upset when they are told the truth.

What sticks in my mind is the woman that was on here singing the praises of Florida. She was even telling people that hurricanes are not that bad as long as you are prepared. This from a woman that went through Hurricane Charley.

First thing she did when she closed on her house? She gets on here and says (to paraphrase) "Thank goodness I'm outta here and boy was I terrified when I had to face a hurricane!"

Nice.

I recently checked the Lee County MLS and couldn't believe it! I almost fell over! Wow, there has to be four times the amount of homes for sale than there was in the summer of '05.

The north Florida folks may be telling the truth and it is still a decent place to live, but I tend to think that these glowing reports of Florida are from people looking to sell and get out, folks who want to see their house appreciate back to '05 prices, or real estate agents.

pianogal · 01-25-2007, 04:24 PM

The north Florida folks may be telling the truth and it is still a decent place to live, but I tend to think that these glowing reports of Florida are from people looking to sell and get out, folks who want to see their house appreciate back to '05 prices, or real estate agents.[/quote]

Nope...none of the above for me. I have lived here for 25 years and hope to stay until it's time for me to go home to heaven. I know Florida has it's problems and IF the issues with Homeowner's Insurance and Taxes aren't resolved, then I may be FORCED to move someday. But, it would not be my choice. I've lived other places and I just prefer Orlando to any other place I've lived - it's just as simple as that. I'm certainly not trying to get other people to move here - we have plenty of people crowding the roads as it is.

Wouldn't it be nice if all the people that complain about the Florida weather and all those who are freezing up north and would love the warm weather could just trade places!!! That way Florida doesn't get any more crowded and everyone would be happy!

hiknapster · 01-25-2007, 04:42 PM

Pianogal:

You are one of the few exceptions. I absolutely believe every word that you say. You just come across as sincere.

I have to tell you that when I first moved to Florida I lived in Orlando. It was not my decision to move there. Never the less, I was a small-town girl that absolutely fell in love with that city. I adored Lake Eola and the area that surrounded it.

I was stunned by the high crime, but remember, I was not use to big city living.

That was ten years ago.

Then I was forced to move to Fort Myers. That place was a nightmare from the start.

I briefly considered moving back to Orlando in '05, but prices were too high by then and quite frankly, my nerves just couldn't take Florida anymore.

Anyway, I believe that someone can fall in love with Orlando, it just is no longer for me.

Oh, and I believe you.

pianogal · 01-25-2007, 06:26 PM

Anyway, I believe that someone can fall in love with Orlando, it just is no longer for me.

Oh, and I believe you.[/quote]

Thanks, Hiknapster....I can certainly understand why alot of people are disillusioned with Florida. I'm not sure DH and I could do it if we were just starting out here. We have been blessed here and we are thankful for that, but if the day comes when it is time for us to move on, we will and we will be thankful for that new place also. Today we were even looking at Venezuela for retirement if we get priced out of Florida!! Talk about Tropical and cheap gas!!!

Jammie · 01-25-2007, 07:13 PM

Wouldn't it be nice if all the people that complain about the Florida weather and all those who are freezing up north and would love the warm weather could just trade places!!! That way Florida doesn't get any more crowded and everyone would be happy!//Unquote

Pianogal, I like the way you think.

I'm ready for the trade if anyone wants the temps up here. Tomorrow will be a beautiful day with the highs in the 30s. This weekend we will be blessed with single digits during the day and below zero at night. Then there's the windchill to consider, too.

sunrico90 · 01-25-2007, 08:15 PM

Quote:

Originally Posted by Jammie

Wouldn't it be nice if all the people that complain about the Florida weather and all those who are freezing up north and would love the warm weather could just trade places!!! That way Florida doesn't get any more crowded and everyone would be happy!//Unquote

Pianogal, I like the way you think.

I'm ready for the trade if anyone wants the temps up here. Tomorrow will be a beautiful day with the highs in the 30s. This weekend we will be blessed with single digits during the day and below zero at night. Then there's the windchill to consider, too.

What is the lowest temp so far for this winter? How bad with the wind chill?

vpcats · 01-25-2007, 08:30 PM

Pianogal.

I live in Miami and despite it being the "except South Florida" ugly duckling relative to a lot of people, I like it and would like to stay as long as I can, one way or another. Maybe move up a little further North someday but still stay in Florida. But you mentioned possibly Venezuela for Retirement. I've been thinking Cuba. I'm still a few years away from retirement and it could actually be a nice option for me (I was born there) IF, BIG IF, it can be straightened out by the time I'm ready for a change.
I just was curious why you would consider Venezuela given what is going on there now and knowing that it is HIGHLY likely to turn into another Cuba, which would be extremely unfortunate or not where I would want to spend my last few years.