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Old 03-21-2016, 01:51 PM
 
78 posts, read 120,589 times
Reputation: 21

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Hello, CD

as of today, been to a dozen open houses and spent over 80 hours house hunting online to discover an explosion of over inflated home values. Is it just me or are we near the bubble territory for this summer 2016 real estate season? Its outrageous what some realtors are listing and actually getting for some resales in poor rate school district homes for sale? I cant find a descent house in a desirable neighborhood with good schools for under $136-177 per square foot.
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Old 03-21-2016, 02:18 PM
 
536 posts, read 853,012 times
Reputation: 768
Given that Orlando housing prices were well above the $200+ per sq ft territory in 2006, I fail to see how $136-177 psf constitutes bubble territory, a full decade later.

A Twenty Year History shows that Orlando homes peaked with a median price of approx $264K in July 2007.

http://c.ymcdn.com/sites/www.orlando...earhistory.pdf

In Feb of 2016 the median was $185K.

The sky is not falling.
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Old 03-21-2016, 03:54 PM
 
5,544 posts, read 8,317,781 times
Reputation: 11141
the houses in my Orlando area neighborhood have not recovered to the price they were in 2006/7.


no bubble and hopefully not another crash
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Old 03-21-2016, 08:36 PM
 
78 posts, read 120,589 times
Reputation: 21
Cool Average $ per square foot

Thank you for pointing that out. I am just trying to find common ground here and see what price per square foot is fair to price my house for sale but at the same time not get priced out of the market in real time. I I will be putting in an offer for another house in a better school zone but its not easy.
Quote:
Originally Posted by BrokerHarry View Post
Given that Orlando housing prices were well above the $200+ per sq ft territory in 2006, I fail to see how $136-177 psf constitutes bubble territory, a full decade later.

A Twenty Year History shows that Orlando homes peaked with a median price of approx $264K in July 2007.

http://c.ymcdn.com/sites/www.orlando...earhistory.pdf

In Feb of 2016 the median was $185K.

The sky is not falling.
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Old 03-21-2016, 09:22 PM
 
Location: FLORIDA
8,963 posts, read 8,926,253 times
Reputation: 3462
Same boat. I'm thinking about waiting it out.
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Old 03-22-2016, 04:25 AM
 
12,017 posts, read 14,330,379 times
Reputation: 5981
Not near bubble, but the time for good deals was a few years ago and has passed
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Old 03-22-2016, 02:07 PM
 
Location: Native of Any Beach/FL
35,703 posts, read 21,063,743 times
Reputation: 14250
It's Florida --still a very sought out state and if you don't buy the Brazilians Chinese and Europeans will -
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Old 03-22-2016, 02:13 PM
 
Location: Western NY
732 posts, read 969,394 times
Reputation: 872
I drive by a house that last year came up for sale at $399K, was really a $325K house, maybe a $299K. They had little showings seems to me since it has been there about 10 months, that probably due to price too high. But they just raised the price to $499K, could not believe it. That is a New Smyrna Beach area home. Prices heating up again for sure, but really no reason for it as jobs are not out there. I see bank ad and billboards saying $1000 down again, or similar. When people are putting next to nothing or nothing down that is when prices go up.

Material costs have generally gone down, all commodity are depressed, copper, iron, building materials. Most commodity are low, no reason for high $ per sq foot.
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Old 03-22-2016, 03:02 PM
 
Location: FLORIDA
8,963 posts, read 8,926,253 times
Reputation: 3462
Quote:
Originally Posted by chopchop0 View Post
Not near bubble, but the time for good deals was a few years ago and has passed
So very true.
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