[TootsieWootsie]

It seems as if many of us are interested in relocated to Florida--and just so many as us going in are wanting to go out.
Florida is now experiencing the kind of bubble Houston went thru in the '80's where you could not sell your house for what you felt was fair market value.
My question is: Has anything been on the news about how long this real estate crash will last?
The real estate crash in Houston last 15 long years! Yes...15!!! Then it started soaring, but I was so overly burnt out on the place after 21 years of humidity I couldn't wait to get out of there. Hard to stay that long in some place you detest.
So, folks who live in Florida, when is this real estate crash predicted to end? When will prices start moving up and real estate start selling again????

TootsieWootsie

[bamboosmom]

Well, I have seen in my area homes coming off the market after being on for 6 or more months. People don't usually want to sell during the fall and holiday season. If homes are priced attractively, they will eventually sell.
SW Florida is still growing by leaps and bounds. New families are moving down everyday. There are still alot of homes available. Its like a snake eatting that egg. Once the egg (homes) passes on down and gets digested, it will (hopefully) level out. Then, the homes that are available at that time may sell quicker (as long as the price is right).
Buyers know that there are plenty of homes to choose from. So price your home attractively and be patient.

[TootsieWootsie]

Why are so many homes available? Overbuilding?
Has there been nothing in the paper about when this overstock of available homes will be over? I'm surprised if so.
It seems this "bubble" is primarily in the Miami to W. Palm Beach area--or East coast of Florida--or am I wrong on that, too?
I know when Houston was dying for 15 years, Dallas was doing okay. So, I know, sometimes this slow real estate period is just in some parts of any State--or even city. For instance, Houston was just doing awful for a long time, however, one area or two of the city had rising prices and people fighting to get homes there still at the same time.
Has there been nothing much about when the prices will start rising again in the papers, tho? How long are they predicting this to last?

[bamboosmom]

It's all over right now. Even in other states. Too much inventory and also too many investors trying to sell their Flip homes.

[Muggy]

My opinion is that the housing slow down (if not a total crash) is going to last for several years. This is neither home seliing nor home buying advice. Just an opinion.

[TootsieWootsie]

It seems, to me, as if this housing crash has hit the Las Vegas and Florida area harder than most of the rest of the country. Or am I wrong?

[bamboosmom]

I hear New Jersey is having a hard time selling too!

[sami]

Housing prices in Florida and many other parts of the U.S. go up and down--mostly up. And I have enjoyed (?) watching the housing scenery for over 30 years. Assuming a person lives in a place with plenty of good jobs (tourism is not necessary), house prices always seem to go up sooner or later. Some places are over priced like in Southern California and parts of Florida, but at worst prices WILL drop for a while........then return and shoot up sooner or later. People NEED homes and apartments (owned by landlords) to live in and more people are born everyday. As long as there is a demand...there will be people buying houses! Right now in Florida, it is a buyers' market, but savvy sellers price their homes reasonably, give them good curb appeal, keep the inside inviting, and consider offering concessions such as paying the buyers' closing costs. It is NOT the best time to sell and a seller should hold off a while if he/she can....better times will come.... However, houses do sell and will keep selling and just figure out stategies to give you and your house an edge. Lots of luck.

[TootsieWootsie]

I am looking to buy, but am not in the Florida area right now. I will be interested in SELLING real estate, so real estate has to be moving or I won't be eating. I like to eat....alot!
Those 15 looooooong years of nothing moving in Houston still has me freaked out. I will make every effort to get out of that mindspace for you.
Thanks for the logic.