Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Florida > Tampa Bay
 [Register]
Tampa Bay Tampa - St. Petersburg - Clearwater
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 09-24-2010, 08:58 AM
 
Location: Tampa
1,317 posts, read 2,297,633 times
Reputation: 508

Advertisements

I guess i didnt read the OPs post in full, i was quick to jump on someone fro providing advice that I wouldnt have.

OP- the number one thing to take into account before I provide community reccomendations is your monthly budget.

Tampa has something for everyone in my opinion. If you provide more detail about your budget, interests and lifestyle (are you a partier or a homebody, are you a runner or a couch potato, etc) i can help you out and send you some links of places in the perfect part of town
Reply With Quote Quick reply to this message

 
Old 09-24-2010, 09:37 AM
 
1,500 posts, read 3,318,811 times
Reputation: 1230
Quote:
Originally Posted by FloridaKash View Post
I would have to disagree. I have seen a couple reports stating that they believe the Tampa Bay market will drop another 9% through 3rd Quarter of 2011.
Quote:
Originally Posted by FloridaKash View Post

I have been watching homes. With that said, I would imagine South Tampa is in an area where the market is less likely to drop any further. Other areas.... watch out.
From what I've been studying of Tampa Bay it looks to me that places like south Tampa are just what's left for some more bottom to drop, if any more is coming out of Tampa at all. Otherwise, I suspect (hope that) much of this has seen the worst already.

Fishhawk, New Tampa, Wesley, TT and such are already down 50plus%. I bought in at an early 1990s price and I suspect that's where this is all headed, if not with further steep drops, then with a lot of sideways movement as inflation eats at presumed equity. Zillow shows south Tampa only back down to about 2003 prices. The bubble started at least two years prior to that and it should not surprise anyone if this touches below the starting point on the way down considering how inflated it was.

How crazy is it still?

Here's a house (random pick off Zillow) that sold in 2004 (middle of the bubble) for $625k. After the burst they are asking $990k. The county thinks it is worth $543k.

It sold for $303k in 2000, before the bubble took off. That's makes for 19.8% annual return of illusionary equity 2000 thru 2004 during the bubble and now, after the biggest crash in housing history, they are asking for yet another 8% annual?

http://www.zillow.com/homedetails/415-S-Shore-Crest-Dr-Tampa-FL-33609/45046689_zpid/

So this south Tampa owner is selling a house in an area which bubbled more than most and supposedly crashed more than many yet still at a price which represents a 12.56% annual return prebubble to post crash?

I suppose there's one born every day, but probably, even in today’s market, there is still more inventory than fools.
Reply With Quote Quick reply to this message
 
Old 09-24-2010, 08:25 PM
 
Location: Sacramento CA
1,342 posts, read 2,058,608 times
Reputation: 295
Quote:
Originally Posted by FloridaKash View Post
I would have to disagree. I have seen a couple reports stating that they believe the Tampa Bay market will drop another 9% through 3rd Quarter of 2011.

I have been watching homes. With that said, I would imagine South Tampa is in an area where the market is less likely to drop any further. Other areas.... watch out.

I've sensed this since day one. I expect some homes in some towns in FL to easily drop some more. Theres more to go believe me!
Reply With Quote Quick reply to this message
 
Old 09-24-2010, 10:22 PM
 
113 posts, read 278,546 times
Reputation: 37
Quote:
Originally Posted by dahlsteinm View Post
1. I am debating between renting and buying. It seems the housing market is great right now, and there are tons of foreclosures that may offer a great opportunity. Any opinions?
I am also looking into moving to Tampa but I want to rent first to make sure I like the area. I would recommend renting at first, especially since you never lived there before, then you can buy a home when you get a better idea of the neighborhoods.
Reply With Quote Quick reply to this message
 
Old 09-25-2010, 08:03 AM
 
Location: Myrtle Beach
3,381 posts, read 9,093,166 times
Reputation: 2943
Quote:
Originally Posted by housingcrashsurvivor View Post

From what I've been studying of Tampa Bay it looks to me that places like south Tampa are just what's left for some more bottom to drop, if any more is coming out of Tampa at all. Otherwise, I suspect (hope that) much of this has seen the worst already.

Fishhawk, New Tampa, Wesley, TT and such are already down 50plus%. I bought in at an early 1990s price and I suspect that's where this is all headed, if not with further steep drops, then with a lot of sideways movement as inflation eats at presumed equity. Zillow shows south Tampa only back down to about 2003 prices. The bubble started at least two years prior to that and it should not surprise anyone if this touches below the starting point on the way down considering how inflated it was.

How crazy is it still?

Here's a house (random pick off Zillow) that sold in 2004 (middle of the bubble) for $625k. After the burst they are asking $990k. The county thinks it is worth $543k.

It sold for $303k in 2000, before the bubble took off. That's makes for 19.8% annual return of illusionary equity 2000 thru 2004 during the bubble and now, after the biggest crash in housing history, they are asking for yet another 8% annual?

http://www.zillow.com/homedetails/415-S-Shore-Crest-Dr-Tampa-FL-33609/45046689_zpid/

So this south Tampa owner is selling a house in an area which bubbled more than most and supposedly crashed more than many yet still at a price which represents a 12.56% annual return prebubble to post crash?

I suppose there's one born every day, but probably, even in today’s market, there is still more inventory than fools.

What are your thoughts of the market in Seminole/Indian Rocks area? Think it has more to drop?

You're pretty thorough on your analysis of situations. I guess, with that said, have you ever looked back at your predictions from 6 months - 1 year ago to see how accurate you have been? Curious if your analysis has been correct. You do tons of research it seems when you come to you conclusions.
Reply With Quote Quick reply to this message
 
Old 09-26-2010, 11:32 AM
 
1,500 posts, read 3,318,811 times
Reputation: 1230
Apologies if required to the OP for the threadjack but often that's just the way the conversation flows...

Quote:
Originally Posted by FloridaKash View Post
What are your thoughts of the market in Seminole/Indian Rocks area? Think it has more to drop?

You're pretty thorough on your analysis of situations. I guess, with that said, have you ever looked back at your predictions from 6 months - 1 year ago to see how accurate you have been? Curious if your analysis has been correct. You do tons of research it seems when you come to you conclusions.
Life is difficult enough to understand as it unfolds so I try my best not to complicate it with predictions. Heck, seeing how my plans always screw up, I hardly even make those anymore (and you'd think I'd have more control over my plans than my predictions). Instead, I like to look at what might be likely or possible, try to work within that, and hope that I am careful to qualify any such response.

To answer your question on my record, basically I crashed off track along with so many others who once believed what our government told us. The past few years has been an expensive lesson. Hopefully I learned a little.

I didn't buy during the bubble, nor did I know it was a bubble at the time. I simply kept cash in real estate (that would be the opposite of ATMing one's own home), thinking that conservative and safe. I lost no principal, sold out after the crash with one deep water property realizing almost 4x's its original purchase price and my primary residence fetching about 3x's what I'd paid. Both long-held, I realized not the double digits I thought I had but a reasonably respectible 6.5% annual.

Some friends & most family thought I was nuts to sell the waterfront. But taxes were insane, insurance was climbing & rents had collapsed. It took me two years & three realtors to sell 47% below peak. Those properties today are getting 20-30% below my price, with many of my then comps (those that were for sale) still unsold.

I sold my primary residence in 3 days, timing its sale to start 30 days before the end of the tax credit program. I ignored all competition fantasy prices, instead using as my guide a prebubble year 2000 price to rent ratio and what I thought to be reasonable profit, considering that I was selling in the middle of what I suspect is another great depression, as even then, life goes on.

Though having undercut all the competition on my asking price, my sold-for price was 20-30% above anything else selling at the time and that advantage apparently continues today. Checking just now, of the 29 sold in my immediate area in the past 3-4 months, my sold-for price was 25% higher (on average) than theirs with very few getting more than what I got, but probably they put more into their houses to get their price.

Meanwhile, I bought two houses in this area where my cost of living is about 20% less than were I was. The money I paid is such that the rents on one house would pay for a mortgage on both. The houses selling since I bought in my new neighborhood have been averaging about 20% higher than what I paid on a cost per sq ft of house basis (on a cost per sq ft of land basis, I blow most of them out of the water) & there's not been a single sale here at a lower price (per sq ft of house) than where I bought mine.

So while I try not to predict, my track record on selling & buying (about which I use that same analysis) is that I crashed but I'm surviving. Would I follow my own advice? Nah, but probably there are even bigger fools than me, so probably you shouldn't follow their advice either. Tread carefully. Because even when you have done everything you can think of to protect yourself and to support your stance, there's nothing you can do to stop someone or anything from pulling the rug out from under you. Life is risky.

As to your two areas of concern, sorry but I'm not familar at all. I googled and it looks like that is Clearwater/Largo? Indian Rock looks to be inland but also beachside? Please be more specific about your location and I'll have a look. If you do not want to specify in public, a pm is fine.
Reply With Quote Quick reply to this message
 
Old 09-26-2010, 01:55 PM
 
26,941 posts, read 43,460,630 times
Reputation: 31704
Quote:
Originally Posted by craigm1841 View Post
I guess i didnt read the OPs post in full, i was quick to jump on someone fro providing advice that I wouldnt have.

OP- the number one thing to take into account before I provide community reccomendations is your monthly budget.

Tampa has something for everyone in my opinion. If you provide more detail about your budget, interests and lifestyle (are you a partier or a homebody, are you a runner or a couch potato, etc) i can help you out and send you some links of places in the perfect part of town
Here's an idea. Before running roughshod over someone else's well thought out and fact-filled response to an OP's criteria-filled post, trying reading through first. Also, your poor judgement in prior purchase doesn't dictate everyone else by default will be headed to the same outcome. I know you must feel at the ripe old age of 25 you have all of the life experience answers, but trust me when I say "probably not". Lastly, when you find a more perfect area of town other than South Tampa, that is best suited for a young twenty-something single working at Tampa General, be sure to let us know.
Reply With Quote Quick reply to this message
 
Old 09-26-2010, 02:04 PM
 
26,941 posts, read 43,460,630 times
Reputation: 31704
Quote:
Originally Posted by craigm1841 View Post
150K wont get you a lot in Tampa anyway unless you want to live in the burbs in a 50 year old cynderblock home in an older neighborhood.
Further evidence of the fact you have no idea of what you're talking about.
Go to any real estate website and type in 125K-150K and see what comes up.
I found 56 2+ bedroom listings in South Tampa within those brackets.
Reply With Quote Quick reply to this message
 
Old 09-26-2010, 03:28 PM
 
Location: Tampa
1,317 posts, read 2,297,633 times
Reputation: 508
Quote:
Originally Posted by kyle19125 View Post
Further evidence of the fact you have no idea of what you're talking about.
Go to any real estate website and type in 125K-150K and see what comes up.
I found 56 2+ bedroom listings in South Tampa within those brackets.
just did that. not seeing any HOUSES that I would want to live in.

we have different standards. By my standards, 150K wont get you much in south tampa. But that is by my standards. Some people live on the street though. I would imagine their standards are lower.

IMO a 2 bedroom one bathroom home is stupid.
Reply With Quote Quick reply to this message
 
Old 09-26-2010, 04:50 PM
 
113 posts, read 278,546 times
Reputation: 37
Quote:
Originally Posted by craigm1841 View Post

IMO a 2 bedroom one bathroom home is stupid.
I agree. If you are buying a house I think you should have at least 2 full bathrooms, and at least 3 bedrooms.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Florida > Tampa Bay
Similar Threads

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top