foreclosures/living in kissimmee (2010, credit, homes)

[cfIfan]

HOA's have pros and cons. The cons are some can be like mini dictatorships and can be very strict. The pros are that one persons taste may not be anothers. For example one family may feel that their 30year old boat which is falling apart is a treasure and choose to park it outside their house, while the family down the road see it as an eye sore. Many HOA's would ban this. It is essentially about maintaining a community to a good standard either through maintenance or by stopping people parking boats and cars on bricks outside their homes. It is a matter of finding a balance, but that being said here in Florida it is extremely difficult to find homes which do not have HOA's. Not impossible but extremely difficult. The reason being these types of homes generally fall into 2 categories. Either the million dollar homes, or the homes which are falling down. In certain areas you may be more fortunate in finding some but Condos will always have HOA's.

Originally Posted by exit82

thanks for the response about HOA fees - really I had no idea-and don't think I'd want to get involved in something like that.

[Manny Custodio]

Wait til 2011, you will be able to buy
in Kissimmee a 1500 sq ft. Home for
40,000.00 ... A 3 br Condo for 20,000.00
another bubble coming soon!

[cfIfan]

Beaware of anyone predicting this sort of thing. No-one can and given that we have seen a marked increase in residential sales and i know as my wife is a title agent for one of the major builders here in Florida that their sales have also increased. Whilst i find it hard to believe we will se any increase in values in the next 12 months given we have reached a low point now i dont see prices falling further.

After all you can already buy a 2 bed 2 bath Condo in Celebration for $99,000 and this area will always command a premium as its the town Disney built.

Unfortunatly you will always see people who think they will get something for absolutly nothing. If you are one of these people then i would recommend listening to this post and waiting and take the gamble. You have nothing to loose as its unlikely prices would see any marked increase but its always a chance. The only difference is there may be no incentives to purchase as the market is already stimulating as we speak.

[annerk]

I think that in some areas which are declining in desirability (much of Kissimmee and Poinciana included) will continue to see decreases in property values. I think more desirable areas will see slight increases begining in late 2010.

My two cents.

[Manny Custodio]

The big problem, the continuation of
jobs being lost. Where are all the forclosure signs
that were all over 6 months ago. Some forclosure
properties seem to be hidden. Mystery? There is no
recovery in site. It's a cover up! Not to mention retail
businesses rapidly closing down. Support local
independent businesses!

[annerk]

Originally Posted by Manny Custodio

The big problem, the continuation of
jobs being lost. Where are all the forclosure signs
that were all over 6 months ago. Some forclosure
properties seem to be hidden. Mystery? There is no
recovery in site. It's a cover up! Not to mention retail
businesses rapidly closing down. Support local
independent businesses!

While I agree that it's a good idea to support local business, you're completely wrong about foreclosures being hidden. In many cases those distressed properties have been purchased as investment properties. not everyone is living hand to mouth, even in this economy. I know a guy who has bought three short sales/REO's in the past year in high end neighborhoods for about 50% of what they are realistically worth on the optn market right now. He had the $1M+ in cash laying around, and he used it to scoop up great deals. He's put long term, high end tenants in each--people who are here on corporate relo's who aren't going to be around long enough to buy, people waiting for luxury homes to be completed in isleworth, etc. I know someone else who has purchased seven distressed homes in the Kissimmee/Poinciana, and Conway area and is using them as rentals. These people have cash and are getting the deals of a lifetime. There is no conspiracy. Unfortunately many people are too ignorant or naive on how the economy really works to leverage their money and make more money.

[Manny Custodio]

I'm telling you, it's a cover up! I know of
of foreclosed properties that were offered to
the public 7 months ago. There were numerous
offers on them but the banks did not let
them go. Now there now where to be found on
the foreclosure list. Banks bought them each for $1.00
and they are hidden. And yes I too know
investers that bought 6 months ago thinking
how much lower property get here in Osceola County
and now they regret it as property came down
further in price. What you have here is banks
continuing to play games, they want people
who wanted to get out of their homes before the
economy got worse but couldn't do so at the time due to the high number
foreclosures driving theit home value down, now are
selling to get out. Thanking the realtors, media, etc. Reporting
falsly that the nation is in a recovery. It's not recovery,
it's a cover up! Do the research, check court pending
foreclosure cases. There is a sunami of foreclosure ready
to hit soon. It's out of control. The high unemployment
rate and the continuation of jobs being lost is the biggest
problem. Just heard, Lockhead Martin Orlando just
lay off 50 employees. Retail business continue to close
every day. Not to mention big warehouse business that closed
already, who is going to rent these spaces anytime soon?
NOBODY!!! I really hope the guy you know that bought properties
to rent to high end tenants don't get layed off. The county
is just not loosing low end employees, high end
employees are losing their jobs too! Hence,
properties will drop like you wouldn't believe by 2011 and
maybe even sooner. Cut back to the bone!! Wait and see. Buy American
support your independant local business. Those independants
that concentrate on quality will prevail. We have to go back
to basics, the party is over!

[annerk]

Bottom line, 90 percent of people ARE working, the majority of people have this thing called savings to hold them through tough times. It's not some big conspiracy.

[Manny Custodio]

90 percent of people that are working
have savings? I can't believe how people
could be so out of touch. They need to
stop watching Corporate owned cable news.
Cut back to the bones my friend. That's all
watch and see my predictions. Protests increasing
from people that has lost everything. Especialy from
those that are currently earning 3 digit figures! When
they start to loose everything, they will loose it all!

[annerk]

Originally Posted by Manny Custodio

90 percent of people that are working
have savings? I can't believe how people
could be so out of touch. They need to
stop watching Corporate owned cable news.
Cut back to the bones my friend. That's all
watch and see my predictions. Protests increasing
from people that has lost everything. Especialy from
those that are currently earning 3 digit figures! When
they start to loose everything, they will loose it all!

Wrong again. I am a high income earner and could go for over five years without having a dime of income and without touching my retirement funds. Maybe it's you who needs to stop making assumptions. Most people have some savings, just because you are living way beyond your means and don't, it doesn't mean that the next person is equally foolish.

And the ridiculous thing is that a lot of those "who ahve lost everything" were livign beyond their means to begin with and not saving anything. Think back at that $9 n hour Publix cashier who foolishly purchased a $300K home. What kind of moron could possibly believe they could afford something like that. A little common sense goes a long way.