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Old 10-11-2009, 03:56 PM
 
Location: Palm Island and North Port
7,511 posts, read 22,937,772 times
Reputation: 2880

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Real estate mogul Barbara Corcoran ranks Sarasota, FL the biggest bang for your buck. Barbara states that these areas are the areas where prices have dropped the most but in the last quarter, prices are shooting up. She goes on to say that if you could time a real estate market-This is the time to buy in these specific cities

#1 Sarasota, FL. Last year prices went down by 1/3 but prices are already up 13%:

Today Show Video Player

St. Pete is ranked #6

For those of you who don't know who Barbara is:
Barbara Corcoran | Real Estate Mogul, Business Consultant and Speaker | Seen on ABC's Shark Tank
She's also on the new show called Shark Tank.
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Old 10-11-2009, 04:38 PM
 
Location: Punta Gorda and Maryland
6,103 posts, read 15,099,354 times
Reputation: 1257
Quote:
Originally Posted by SoFLGal View Post
Real estate mogul Barbara Corcoran ranks Sarasota, FL the biggest bang for your buck. Barbara states that these areas are the areas where prices have dropped the most but in the last quarter, prices are shooting up. She goes on to say that if you could time a real estate market-This is the time to buy in these specific cities

#1 Sarasota, FL. Last year prices went down by 1/3 but prices are already up 13%:

Today Show Video Player

St. Pete is ranked #6

For those of you who don't know who Barbara is:
Barbara Corcoran | Real Estate Mogul, Business Consultant and Speaker | Seen on ABC's Shark Tank
She's also on the new show called Shark Tank.
There are a lot of other positive articles around that continually rank SWFL towns and cities among the best places to live in America.
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Old 10-11-2009, 09:02 PM
 
204 posts, read 602,043 times
Reputation: 99
Thanks for the link SoFLGal. We left for a few years and came back to the area, coming to our senses.

During the last quarter, we've looked at some tempting investment properties but haven't pulled the trigger. Thanks a LOT Today Show. There goes the neighborhood... literally.

Though it seems all boats aren't getting lifted by this tide- Zillow just informed us that our personal residence is down another 3.8% in the last month.

HHH
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Old 10-12-2009, 05:06 AM
 
Location: Florida
917 posts, read 2,617,535 times
Reputation: 288
Top ranking on the Today Show! Great PR! I just can't help noticing that with most of the other city's, she tells us what local government has done to attract jobs to their particular area, or why she thinks local economies are strong. With Sarasota and St. Pete there is no mention of jobs. She just tells us that deals can be had, and points out that Sarasota is a sophisticated city. She makes it real clear that she feels that if your going to buy, buy now!

If I was looking for better employment opportunities and a deal on a house, several other cities on her list sound more appealing than Sarasota. Although it's down at number seven on the list as far a deals go, Naperville Illinois seems like it's worth a look.

She also says that it's easy to get a job in Lansing Michigan (it's number three on her list as far as deals go) and mentions that Saginaw (#10) and Grand Rapids (#5) Michigan have jobs as well. I was under the impression that things were really tough in Michigan. Maybe they're low paying jobs like here.

Of course all those cities have rough winters, but she also mentioned Marietta Georgia (#4) and Trenton New Jersey (#8) as having good deals. She refers to Marietta as family area, but doesn't mention jobs. She calls Trenton a family town and credits the governor for creating 13,000 jobs in the last year. I never would have even considered Trenton! (she did make a point of saying taxes were high there, though)

Thanks! SoFLGal very interesting clip.

Last edited by tommy-105; 10-12-2009 at 05:19 AM..
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Old 10-12-2009, 05:39 AM
 
Location: Palm Island and North Port
7,511 posts, read 22,937,772 times
Reputation: 2880
Quote:
Originally Posted by HenryHelmhazzard View Post
Thanks for the link SoFLGal. We left for a few years and came back to the area, coming to our senses.

During the last quarter, we've looked at some tempting investment properties but haven't pulled the trigger. Thanks a LOT Today Show. There goes the neighborhood... literally.

Though it seems all boats aren't getting lifted by this tide- Zillow just informed us that our personal residence is down another 3.8% in the last month.

HHH
Hey HHH,

I wouldn't use Zillow as a gage on your property value. I find that about 75% of the time they are wrong. I don't know if they are in this case but I just didn't want you counting on them for your stats.
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Old 10-12-2009, 07:18 AM
 
383 posts, read 1,025,046 times
Reputation: 83
Quote:
Originally Posted by SoFLGal View Post
Hey HHH,

I wouldn't use Zillow as a gage on your property value. I find that about 75% of the time they are wrong. I don't know if they are in this case but I just didn't want you counting on them for your stats.
You know Zillow just sent me an e-mail last week to say that my property value on the house i'm selling in NY had been reduced by 3.8% also! What gives with that baloney? That makes me nervous cause the buyers mortgage commitment is'nt approved yet!
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Old 10-12-2009, 07:22 AM
 
Location: Palm Island and North Port
7,511 posts, read 22,937,772 times
Reputation: 2880
Quote:
Originally Posted by beachbum wannabe View Post
You know Zillow just sent me an e-mail last week to say that my property value on the house i'm selling in NY had been reduced by 3.8% also! What gives with that baloney? That makes me nervous cause the buyers mortgage commitment is'nt approved yet!
Yup and imagine the phone calls/emails we get when they send this kind of stuff out. I've gotten over 30 emails this month from different people in different areas/states and everyone says they decreased by 3.8%. And if you are only getting yours then you don't know what they say to someone else. Since people send me their emails and ask me to pull correct comps I'm seeing a whole pile that are identical.
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Old 10-12-2009, 07:50 AM
 
Location: Nokomis Fl
1,008 posts, read 2,637,237 times
Reputation: 475
Look at foreclosures in Villagio
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Old 10-12-2009, 08:18 AM
 
Location: Palm Island and North Port
7,511 posts, read 22,937,772 times
Reputation: 2880
Quote:
Originally Posted by Ron Serrano View Post
I am looking to invest in a rental property in Florida. Is there anything under $60,000 that can result in a positive cash flow?
Yes, there's plenty of stuff in Port Charlotte and North Port that would pull positive cash flow. I'm closing on a duplex in Port Charlotte on Monday that was bought for $30K. 3/1 on one side and 2/1 on the other side. $625 for the 3/1 and 2/1 $575 a month. The place needed minimal fix-under $5K. Taxes are $2370 per year and insurance, if you wanted to get it, would be $1200 per year. Insurance is not needed if you pay cash. That's a good deal

Last edited by SoFLGal; 10-12-2009 at 08:26 AM..
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Old 10-12-2009, 10:33 AM
 
204 posts, read 602,043 times
Reputation: 99
Quote:
Originally Posted by SoFLGal View Post
Hey HHH,

I wouldn't use Zillow as a gage on your property value. I find that about 75% of the time they are wrong. I don't know if they are in this case but I just didn't want you counting on them for your stats.
Thanks for the feedback. I spoke to someone earlier in the year (Aprilish) at Bank of America about a refi to take advantage of the lower rates. He said they often referred to Zillow at his office. Interesting, and a little frightening. Since then, we've had some work done to the house and are thinking about putting an application in to get the ball rolling. I've heard of enormous delays...
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