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Old 09-19-2009, 08:35 AM
 
Location: Miami North (Orlando)
976 posts, read 1,106,360 times
Reputation: 194

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For us in FL, it's good news for buyers; bad news for us wanting to sell... "That L shape is evident in Florida. Miami, Orlando and Jacksonville are three of only six cities Moody's predicts will still see home prices falling, albeit modestly, after five years."

where-home-prices-are-likely-to-rise.html: Personal Finance News from Yahoo! Finance
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Old 09-19-2009, 09:15 PM
 
Location: Heartland Florida
9,324 posts, read 26,694,650 times
Reputation: 5038
Real estate is still priced to ohigh. With falling wages and coming inflation there will be less money to spend on real estate. Miami prices will continue to fall until the median home price equals 3 times median income.
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Old 09-20-2009, 09:19 AM
 
495 posts, read 2,324,803 times
Reputation: 378
Jax may have the strongest economic fundamentals as a major port expansion is in the works that will bring in two big Japanese shippers and provide an estimated 50,000 new jobs.

At least that is what was said at a recent RE conference in Gville by a local UF professor.

This is going to be related to the expansion of the Panama Canal to allow bigger ships through to the east coast from Asia.

Of course, that is years out, if it even happens, but if it does, NE Florida will boom with that many new jobs.
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Old 09-21-2009, 07:57 AM
 
3,566 posts, read 3,726,091 times
Reputation: 1364
Quote:
Originally Posted by Trusses View Post
For us in FL, it's good news for buyers; bad news for us wanting to sell... "That L shape is evident in Florida. Miami, Orlando and Jacksonville are three of only six cities Moody's predicts will still see home prices falling, albeit modestly, after five years."

where-home-prices-are-likely-to-rise.html: Personal Finance News from Yahoo! Finance
What this means is that there is no relief in sight for homeowners who are upside down in their mortgage.
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Old 09-21-2009, 08:17 AM
 
593 posts, read 1,911,896 times
Reputation: 143
i've got relief if you are stuck in a house in east boca. . . at teh right price, i'd be happy to purchase it now
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Old 09-21-2009, 11:31 PM
 
Location: Jax
8,200 posts, read 35,395,239 times
Reputation: 3441
Quote:
Originally Posted by wacahootaman View Post
Jax may have the strongest economic fundamentals as a major port expansion is in the works that will bring in two big Japanese shippers and provide an estimated 50,000 new jobs.

At least that is what was said at a recent RE conference in Gville by a local UF professor.

This is going to be related to the expansion of the Panama Canal to allow bigger ships through to the east coast from Asia.

Of course, that is years out, if it even happens, but if it does, NE Florida will boom with that many new jobs.

The port expansion should be huge. There's also a significant untapped development market surrounding the port. The Northside of the city that surrounds the port was primarily rural. While there has been some housing development in recent years, there is still a ton of undeveloped land. This part of the city just got their very first movie theater. Prior to that, they had to drive a distance across a river to get to the nearest theater, or Starbucks, or a decent mall or just about anything. So yeah, if the port expansion moves forward, the ripple effect will create a nicely sized boom.

Jax is still a sleeper. It's a city with a lot of potential that may or may not ever come into fruition. We might see it develop into a modern, well-planned city or we may see it mismanaged into a mess....it's anybody's guess .
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Old 09-22-2009, 06:27 AM
 
Location: Niceville, FL
13,258 posts, read 22,745,525 times
Reputation: 16414
The Ft. Walton Beach area has probably hit a low point. The BRAC-related transfers are about to kick in, and that will bring a ton of new people into an area where the desirable land south of I-10 that the Air Force doesn't own is already getting close to being built out.
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Old 09-22-2009, 07:47 AM
 
5,969 posts, read 9,527,303 times
Reputation: 1614
Prices will continue to drop in Florida's major cities because wages continue to be ridiculously low and job opportunties are almost non existent.
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Old 09-22-2009, 04:17 PM
 
737 posts, read 1,645,796 times
Reputation: 435
House's will sell in Florida we have to many snow birds.
And the ones in the out skirts of town and in rural areas are standing strong simply because there isn't much of it left in Florida.

If you look at the sales a price looks cheap but when you call it's is a bidding auction not the actual price.

There are just to many in foreclosure right now due to people losing jobs or just leaving period. But the snow birds will keep Florida housing market stable. It looks like my house ain't worth nothing but no way I would list it for less then 100,000 or top 130,000. Number one its a cement house most of the houses being build now adays are siding not cement. Homes near me are selling for over 200,000 but they are just siding where as mine is a cement home and build in 92.

Remember snow bird season is right around the corner with Oct. approaching and the foreclosures are up in full force right now.
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Old 12-28-2009, 08:27 PM
 
Location: new jersey
25 posts, read 74,469 times
Reputation: 18
Florida's housing prices will keep going down. We haven't seen the bottom yet. Part of the real estate collapse was due to the baby boomers. For a long time the baby boomers were buying up houses and the demand was much higher than we had seen in the past. After they all got houses or moved up to bigger houses the supply was bigger than the demand. That coupled with the economy mess helped us get to where we are. Also don't think the "snow birds" will save Florida. Your theory is missing a factor. The snow birds that have been here for many years will pass away and their houses will be on the market in addition to all the other houses that are all ready in the inventory. My advice is "Brace yourself Bridget"....
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