[Nancy Lynne]

Can you explain what you found out about the insurance? I am not sure what you meant....insurance on the house?????how much? must one have it?
thanks

nancy

thinking of moving to fl from nj

[Muggy]

Hi Nancy,

I am not sure if your question is directed at me. I started another thread called "Insurance Crisis." You might want to search for that.

In short, yes, I am talking about the need to insure your house. This has become increasingly difficult as private insurers are dropping policies. In some cases, cost isn't even an issue as it is simply unavailable.

Citizens Insurance was formed by the state to assist homeowners who couldn't find insurance. It is turning into a real financial crisis for many people.

A lot of people on this board have called me negative for my views on real estate in Florida. You may agree or disagree with me and that is o.k., but one issue that is real, and not really a matter of my opinion, is the insurance crisis. I view insurance as a separate issue in terms of housing value, but certainly a "converging factor" in the "perfect storm" that is hitting the Florida housing market right now.

Policies in some areas have increased 200%+ in less than 3 years.

[Dee2e]

Originally Posted by Muggy

Well, a U.S. Dept. Of Commerce report says that home sales were down in the month of June; sales by as much as 40% and median by $10,000.

The St. Pete Times ran an article about increasing energy costs as well. It will be interesting to see where all of this ends up.

That report refers to National sales. Many areas do not fit that picture.

Do the research in the County where you live. It makes the information more relative to your decision making. Of course, be sure to research the county where you are thinking of relocating too.

[Muggy]

My area; from St. Pete Times:

"In Pinellas County, sales prices of single-family homes dipped from $252,000 in June 2005 to $238,000 in June 2006, a decline of 5.5 percent. The market hasn't given back so much since the 1990s."

What's frustrating about the way sales are reported is the way the information is presented. It's usually an indication of volume. For those following housing, volume is important, but pricing is even more important.

[Dee2e]

Originally Posted by Muggy

My area; from St. Pete Times:

"In Pinellas County, sales prices of single-family homes dipped from $252,000 in June 2005 to $238,000 in June 2006, a decline of 5.5 percent. The market hasn't given back so much since the 1990s."

What's frustrating about the way sales are reported is the way the information is presented. It's usually an indication of volume. For those following housing, volume is important, but pricing is even more important.

Your real state board reports different numbers.
http://orlrealtor.com/Files/HousingS...byCounties.pdf

It reports an increase of 15.64% in the number of units sold and 16.68% increase in sales volumn in Pinellas County for the 1st half of 2006 over the same period a year ago.

It reports the mid year average price of $286.319, not the number you reported.

The board uses numbers release by each county.

The url I provided shows the MidFlorida Regional counties.

Can you provide the link to your article? I'd like to see their source of data. Thanks.

[Muggy]

http://www.sptimes.com/2006/08/08/Bu...ngs_pric.shtml

By the way, here's a "in the trenches" story for you:
http://www.wilmingtonstar.com/apps/p.../1002/business

[abogs]

I've owned real estate in S.Ca for years (having grown up & worked there a good part of my life). One major reason people moved to Ca is the same as Fl. Weather! This is a consistent factor unaffected by the economy, crime, etc. Ca went through ups and downs (even over the past 12 years). Fl will go up and down but will overall climb at a good rate. Patience is the key. People who want to turn a quick profit have a hard time during minor market corrections like Fl is experiencing. Fl has the "W" factor, a big deal with the retiring baby-boomers. Buy a good deal now and hold it for a couple years and you won't be disappointed.

[Muggy]

http://www.orlandosentinel.com/news/...home-headlines

Wow. Intense words from the Orlando Sentinel:

"The Florida housing market is spiraling down, like Dorothy's Kansas bungalow plunging out of the clouds toward Oz."

The article continues:

"According to the Orlando Regional Realtor Association... the number of homes for sale in the Orlando area is up a whopping 450 percent from a year ago."

[Dee2e]

Originally Posted by Muggy

http://www.orlandosentinel.com/news/...home-headlines

Wow. Intense words from the Orlando Sentinel:

"The Florida housing market is spiraling down, like Dorothy's Kansas bungalow plunging out of the clouds toward Oz."

The article continues:

"According to the Orlando Regional Realtor Association... the number of homes for sale in the Orlando area is up a whopping 450 percent from a year ago."

That's been previously reported, as has the fact that I stated several times on this board that last year 1 house sold for every 1.12 listed and now in our area it's 1 sold for every 6.67 listed. The number of listings is not realtive to the volumn of sales. It just indicates that many are trying to cash out and we have taken on nearly 80,000 condos during the last year to sell. Condo conversions are really rising here.

The sales volumn in number of units solds and the dollar value is still posted and accurate according to the same Association you quoted.

If your home is in good condition and priced right, it will sell.

By the way, I listed a house in August that was purchased by the owners last year and it went pending last week for $35K or 19% more than they paid for it a year ago. I don't think that's to shabby.

[Muggy]

Dee2e, I will respond to your comments when you respond to the story I posted above (re: couple about to get BURNED in SPB because they bought at peak).

For those of you reading this from a safe distance, I have no problem being attacked as negative. In the end I will be saving you a lot of money.

Hate me now, thank me later.

Also, vote if you haven't yet!