Port Saint Lucie, FL Stay or Go? (Palm Coast, Stuart: short sale, real estate market)

[Wendyb0077]

It really is very nice here. The weather is beautiful in this part of FL and the Ocean is awsome. Some really good places to eat. Get the Hometown news and the Tribune for coupons. Good luck and welcome!

Originally Posted by julz

I moved to PSL 10 months ago.Having lived in S.Fla. for 15 yrs. I was tired of the traffic,crime, and strip malls. I hear many people here complain about those very things and had I lived here 10 yrs. ago I might be doing the same.Actually, 10 yrs. ago I would never have considered living in PSL.At this time in my life I am content with this lifestyle.I don't miss the pan handlers,the industrialism, or the sirens blaring all night.I can see why PSL might not be attractive to the younger generation and work is definately an issure worth considering but I am very happy with my decision to move to PSL.

[nanwalt3]

If you could of made 500% on $10,000 why are you telling people how intelligent you are. I personally didn't flip dirt or houses, but if I or any intelligent person did find a deal like that, and didn't do it, I'd be crying about my 500% mistake. Maybe that's why you are trying to make everyone think you have some financial savvy....... I read your comments about homeownership earlier and I think I understand your frustrations. Put your money in a CD and just keep renting,,,cuz u gots good credit and a darn good job, and a whole lot of money smarts.

Originally Posted by markas214

OK. Here's another take. I visited Cape Coral around 7 years ago and could have bought a triple lot 240x150 for $10,000. I decided the area was too barren and I didn't want to live there. Apparently others felt the same at that price because there were thousands of lots priced similarly. Now the lot prices are 500% higher while homes are nearly triple. There are also thousands more homes for sale than there were then. Why because suddenly tens of thousands of people want to live in Cape Coral now that it is 3 times more expensive?

First there are a finite number of people wanting to live in Florida. I'm one but not in a hurry. That number didn't magically increase by 3000% in the past 5 years. Secondly incomes in Florida are horrible. They are nearly half of what many other areas pay. Again, we didn't have some magic increase in the number of upper income individuals move to Florida to suddenly support the building od tens of thousands of half million dollar homes. Third, speculators came in and artificially created a demand that could never be sustained by either full time residents or snowbirds.

People were conned by the real estate and financial industries into buying homes way beyond their means. They were fools. Now the fools are taking a bath and what is left are prudent individuals who are smart enough to wait. The patient will be rewarded in a year or two when homes "valued" at half a million dollars begin selling for there historical affordability which is about half what it is now.

I agree that new homes in the 120s should be selling easily. Perhaps the people who would have bought at that price and actualy wanted to live there has declined. Maybe they can't afford the inflated taxes and insurance. Maybe they bought over their heads and ruined their credit. Maybe they lost their jobs in the construction/real estate industry.

Finally home ownership is a myth unless you pay cash. Home ownership doesn't exist when your house is worth less than you owe. Only a fool is buying in a falling market. You can thank all the unscrupulous vultures in the real estate industry who swooped in and made a killing and seriously damaged your industry. I don't know if you were a participant in the giant Ponzi scheme of buy and flip. If not you will definately have some lean years ahead while those opportunists who got into the industry for a fast buck are weeded out. Eventually though things will stabilize and true professionals will be back to offering fair and honest service.

[nanwalt3]

I'm so glad you found one of the professional, career minded individuals I spoke of. I have kept contact with many of my former clients on a personal basis and I feel I owed them my best when they were ready to buy or sell.

Originally Posted by momix5

Not all real estate brokers are evil! The gentleman who sold my house in NY is a god send.

[Wendyb0077]

The average time that a person stays in one home before they sell it is Five to Seven years. You will care how much YOUR home is worth when it comes time to sell. (no matter who buys it from you). Good luck, be realistic and buy CBS!

Originally Posted by Prettygyrl777

Not true- I don't mind paying a fair price for a home. But I am smart enough (and I've lived here long enough) to know when I'm being cheated. PSL is probably one of the worst (or best?) examples in the state of Florida of the real estate bubble bursting. If I can get in at 130k, then good for me. I should mention though that I was thrilled when the woman quoted that 169k price- that was as good as "sold" to me. But not wanting to sound excited- I really had to consider that, "yes, I could by this house right now but it seems to me that I'm in a position to wheel and deal here..... and dammit I will do just that!"

I'm buying my home because I want to LIVE IN IT- not because I want to make a quick buck and flip it on someone else later on. Good riddance to the speculators- some of us actually just want to live here.

[momix5]

Are CBS builders good?

[Wendyb0077]

CBS IS concrete block and Stucco. Then there is stucco over wood then there is just wood siding. The most preferred is the CBS. Good for Hurricanes and helps keep the termites away.

Originally Posted by momix5

Are CBS builders good?

[nanwalt3]

I guess we have to deal with the bottom feeders like prettygirl who probably will never be able to buy anything anyhow, and will keep renting like Markas.

Originally Posted by Lilybeans

So the pendulum swings and now buyers don't want to pay fair prices either, eh?

[Wendyb0077]

Pretty girl will buy some day. I wish I had a crystal ball!!!

Originally Posted by nanwalt3

I guess we have to deal with the bottom feeders like prettygirl who probably will never be able to buy anything anyhow, and will keep renting like Markas.

[nanwalt3]

No crystal ball needed for this one. She wouldn't know a great deal if she found it. She'll keep renting and talk about the obnoxious sellers who want to sell their homes for what they're worth, and will,,,,but not to her...LOL

Originally Posted by Wendyb0077

Pretty girl will buy some day. I wish I had a crystal ball!!!

[TriMT7]

Originally Posted by nanwalt3

No crystal ball needed for this one. She wouldn't know a great deal if she found it. She'll keep renting and talk about the obnoxious sellers who want to sell their homes for what they're worth, and will,,,,but not to her...LOL

You wouldn't happen to be one of the frequenters of the Palm Beach Post real estate blogs, would you?