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Port St. Lucie - Sebastian - Vero Beach St. Lucie, Martin, and Indian River counties (Treasure Coast)
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Old 04-18-2009, 04:22 PM
 
77 posts, read 136,971 times
Reputation: 32
Default port st lucie home have they hit rock bottom?

i live in miami and let me tell you i went to psl and was blown away from not only the prices of home but how nice people are! respectful drivers and courteous as well! i would be loking to buy a home but my question is has the house market hit rock bottom to me it has to be? and im hopefull that in the future prices well go up ! i love the place i have a family and it would be great to get away from south fla!!!!! i ove it so much im willing to commute from psl to hallandale for work until i find something closer! south fla sucks
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Old 04-19-2009, 07:21 PM
 
150 posts, read 485,717 times
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We moved here from Broward 2 yrs. ago.We were tired of the craziness also.My husband still commutes to Broward for work and doesn't mind a bit.I don't know how much the home prices will drop but there are some great deals out there.
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Old 04-20-2009, 06:43 AM
 
578 posts, read 1,004,788 times
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From what I can tell the average price of a new home that has been sitting empty and is between 2000 and 2500 square ft is around $180,000. There seems to be a large amount of homes that were built between 2005 and 2007 that are still empty so you have a big choice on those. There are a ton of foreclosures left however the more desireable neighborhoods are beginning to dry up as far as they go. Still not anywhere near turning from a buyers market to a sellers market but it is getting closer.

You can find deals every day for a New or Foreclosed home for way cheaper than $180,000 but you will have to remember that you might have to put at least $30 to $50k into them in order to rehab all of the damage caused by the previous owners and the mold that is surely growing in them due to no power or AC. If you do plan on moving to PSL, take your time and look around as we did. It took us almost 6 months to pick out a house. We spent nearly every weekend in PSL looking and saw just about every type of home we could get to in just about every neighborhood.

You should also consider the builder. I was surprised how one builder that is very popular in PSL built such crappy homes. Once you have been in 5 or 6 of those you will begin to recognize them and will not want to go in.

Almost every foreclosed home we went into needed a ton of work. Most needed to be completely gutted inside. That would not be a problem except that it is vey hard to find people in the area that do that kind of work. One would think that these people would be everywhere but they are not. Bottom line, PSL is a great place to buy a home. For the most part the homes are being priced correctly and pretty soon property values will go back up because the secret is out.

The fact that PSL is expanding with companies building in the area and will bring outside workers to fill certain needs, will only serve to drive up prices more. Eventually that is. Right now is the perfect time to buy.

Last edited by stevep111; 04-20-2009 at 06:46 AM.. Reason: fix
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Old 04-20-2009, 06:49 AM
 
Location: Florida and East "by God" Tennessee
1,889 posts, read 2,652,455 times
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I believe the prices have flattened, some are still not competitive (price) with the market
but value exists, and many bargin priced homes are getting multiple offers. Investors are back in the market.
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Old 04-20-2009, 08:13 AM
 
578 posts, read 1,004,788 times
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Dave what part of Tennessee are you from? I grew up in Oak Ridge and Knoxville
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Old 04-20-2009, 12:05 PM
 
Location: Florida and East "by God" Tennessee
1,889 posts, read 2,652,455 times
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Quote:
Originally Posted by stevep111 View Post
Dave what part of Tennessee are you from? I grew up in Oak Ridge and Knoxville
We have a second home in Townsend.
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Old 04-20-2009, 02:22 PM
 
578 posts, read 1,004,788 times
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That's up 321 right?
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Old 04-20-2009, 03:10 PM
 
Location: SE Florida
1,194 posts, read 2,314,410 times
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I would like to see you to first look around in PSL as we did . We moved here in 2005 after buying our home and lot in 2004. No matter what the price of our home we plan to stay here forever. We had a home in Broward County foor many years and it was similar to Philly. We looked for a home in Vero Beach and WPB but decided to live in PSL because of the price and how people treat each other. It is very nice here..

Yes, as a whole the people are really nice here in PSL. We were originally from outside of Philly and it did take me around 2 years to get accustomed to how nice the people are here. I couldn't believe it at first and thought something is wrong but the nicety spreads like fire and how would believe it that sometimes, I am nice too hahahahaha


I am not a realtor but I do invest in real estate holdings on a part time basis. I believe the time to buy is when you feel most comfortable in purchasing, have a large or small amount of money put down on a home and foreclosures can be a risk. You can buy a foreclosure that has termite damage along with swarming nests and that would be a disaster.
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Old 04-20-2009, 03:21 PM
 
Location: Florida and East "by God" Tennessee
1,889 posts, read 2,652,455 times
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Quote:
Originally Posted by stevep111 View Post
That's up 321 right?
yup.... ole lamar Alexander Pkwy.
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Old 04-20-2009, 03:24 PM
 
Location: West Palm Beach - Flamingo Park
14,597 posts, read 15,181,906 times
Reputation: 6184
Well, regardless of what will constitute the "bottom" people ARE buying. A Co-worker just called to say that they bought a 4 bedroom house in PSL for under 100k. Some work is needed, but they are very happy. Sometimes I wish I could handle the hour commute to WPB from PSL because I could have had an awesome house for the same price, but I can't!!

For now, I'll stay in my 5 minutes from downtown house in WPB.
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