[Jammie]

Originally Posted by elfyum

Not in Dade!!! We rock!!! Look in Sunday's Herald! Almost all of Dade went up 10-20%!!!
What some people fail to realise is that houses were going up by like 100% in a year!!! LITERALLY!!!!!!!!!!!!!
So if you have a house that should've been 350k lets say, and you sold it for 700k, so now the person selling would try for a mil...So instead of a mil, now it's "dropped" to 800k... Get it? I used a high price range, but it works the same for any range...

Hi Elfy, you live in southern Fla, don't you? It almost seems like it's another state compared to the rest of Florida. I really wonder if housing will drop in your area even when other areas have dropped. I also wonder if the cost of housing will ever drop in the Keys. There are always wealthy people who don't have to worry about the price of housing who would want to live in those areas. Do you see it that way or do you see average people relocating there? By the way, I like your posts~your sense of humor and light-heartedness always show through.

[jhlcomp]

I live in Weston which is a suburb west of downtown Fort Lauderdale. I was was helping a realtor friend of mine over the weekend as she prepared for an open house. We are seeing prices drop by over $100,000 ++ for homes that would have sold for $525,000 two years ago.

[Need_affordable_home]

Only those in denial still think prices are raising. I also live in south FL and prices are dropping alot! If south FL gets a direct hit by a hurricane, insurance will go way up and house prices way down. If the keys get hit, itll be a major disaster

[fsi001]

Originally Posted by Nancy Lynne

Up? Down? Still going down? Leveled off? How about the amount of inventory? Which areas are changing the most?

Here in NJ, in my town...there is very little for sale. What is for sale is either junk that has been sitting for 2 years and is still way overpriced. Nothing new has come on the market in a good 6 months. Then there are the really high priced waterfront homes that are waaaaaayyyyyyy over priced. These people are delusional. What these people don't realize is..........NJ ain't no Hamptons!

The prices here in Spring Hill have leveled off, the inventory has gone down and the # of closings per day has been going up. Back in december the number was about 6 per day. Now it's up to 28-30 per day. So things are getting better.

[carolac]

Originally Posted by lionking

speaking only of my area,from the peak 2 years ago prices have come down 25-30k (around 9to10%).

Things are picking up,I've noticed a couple houses sold recently,a friend who lives in Kendall says the same thing about her 'hood.

I've had someone put a downpayment on mine,though nothing is final yet.Over the last week I've had 5 people come with a realtor to look at my house.

Too early to say if this means things will pick up overall but its looking better for sales so far.

Congratulations to you!! It must be a relief. In our area there are several houses for sale, and the showing activity has increased quite a bit, surprisingly. What area are you in? Thanks.

[Bones]

"There is now over 17,664 properties on the market in Pinellas county"

[Muggy]

Did someone say Pinellas County?

[elfyum]

Originally Posted by Rhodes112

Moderator cut: deleted .

Moderator cut: cut
Do you live in FL? Do you live in Dade? Did you read the article (actually entire section) I referred to? Do you read at all?
Sorry if your home did not increase 20%, but don't rain on my parade.
Thank you!

Jammie - thank you for being a positive voice on here & thanks for the compliment as well!
Yes, SOFL or more specifically Miami & The Keys are their own world. In fact, I propose that we form our own state!!! Although I think The Keys already consider themselves their own state - The Conch Republic and would rather not be included with Miami. Fine. We will be our own state.
And no, the prices are NOT dropping here.
As I previosly stated based on FACT - anyone that can, please read the section in Sunday's Herald! - the prices here have risen ABOUT 20%!!!

For those that didn't get it, I will explain again...

The housing market went nuts in the early 2000's.
People were getting close to if not actually 100% returns on their investments!!!
LOOK IT UP!!!
Go to EWM dot com & seach zips 33140 & 33154.
You can see what sold in the area.
You will see many houses that were bought in I believe 2002-2004 for say 500k, then sold the next year for 1 mil!!!!!!!!!
This was common.
They were flipped & flipped & flipped!
So now, they can't do that anymore.
So they may "drop" the price from a mil to 800k...

And by the way, Palm Beach & Broward counties saw more decreases in value than Dade.
Sorry, but Ft. Lauderdale & West Palm (etc) just can't hold a candle to Miami.
Meaning - where are all the sports teams? (ie the tourists - like for the superbowl - ie the money)
Where are all the rich & famous?
Last I looked Star Island is in Dade.
Yeah, some rich & famous may live in FTL, but the vast majority are on or near Miami Beach!!!
What is more known, FTL or SOBE?
And what is FTL known FOR? Spring break...
SOBE is known INTERNATIONALLY!!!!!!!
Mention FTL in all the South American & European countries & they probably look at you confused.
Say Miami & their eyes light up.
FACT!
Now I personally could'nt give a D*MN about such BS!!!
But it's still a fact - the rich & famous, or even just the rich, always have & always will vacation here, buy property here & spend money here.
Period.
So yes, we are in a class unto ourselves.
Look it up.

[firemed]

The Miami Herald reports from Florida. “The story of housing in South Florida in 2006 was one of waiting. Now the question is: Will 2007 be the year the market turns around? The answer lies in the mountain of homes across South Florida with ‘For Sale’ signs, the single biggest indicator of a market out of whack.”

“For every home that sold in each month of 2006, an average of 14 did not. The number of homes on the market doubled to almost 66,000, as sales dropped to their lowest level in a decade. At the current sales pace, it’s up to 16 months in Broward and 18 in Miami-Dade. For condos in both counties, it’s more than two years.”

“It’s a quiet Sunday afternoon in West Kendall, the third quiet Sunday afternoon in a row that Olga Alvarez has opened her house to buyers. ‘The house is priced well; there is just a lot of competition,’ says Alvarez’s broker, Leigh Fortuna. ‘Within one square mile, there are 42 other homes for sale that are like us.’”

“Alvarez is already throwing in incentives. One-page fliers proclaiming in big letters: ‘Seller will pay closing costs up to 3%.’ That shaves off $11,700. And the asking price for the three-bedroom, two-bath house is down from $399,000 when it was listed in October to $389,000. Plus, there’s a yearlong warranty. So far, it’s still not enough.”

“Alvarez and her husband bought their home in 2000 for $147,500. Since then, prices in the neighborhood have more than doubled. But it’s also harder to sell in the first place because many people simply can’t afford to buy.”

“The irony is that if Alvarez sells, she, too, will be priced out of the region. If Alvarez ever buys in South Florida again, she will be hit with much higher property taxes and insurance costs. ‘We’ll never be able to afford to live here again,’ Alvarez says matter-of-factly. ‘We don’t plan on coming back.’”

“It’s 2:50 p.m. Ten minutes left for the open house. The phone rings. ‘I thought it was the doorbell,’ Fortuna says. She’s only half-joking. Instead, it’s Zab Alvarez calling to check on things. His wife delivers the bad news. By 3 p.m., the open house is over. Not one person came.”
Did you ever read about Florida 1920s ?

[bluemaddy]

[quote=elfyum;386103]

SOBE is known INTERNATIONALLY!!!!!!!

Dare I make a comment since I find your accusing someone of ignorance...quite....anyhow, I have traveled the world, more than once and have never heard of SOBE. It's known internationally but not up here in NJ.

What is SOBE? I noticed you talking about Dade. I have heard of FTL, but SOBE?