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Old 01-15-2013, 05:48 PM
 
5,453 posts, read 9,250,550 times
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Quote:
Originally Posted by HWTechGuy View Post
Rental prices are a bit on the crazy side, given the rest of the economic picture for the general area. During our house hunting process, one house we really loved was a short sale and would have taken many months to close. I briefly considered renting a place so I could wait it out, but the rental prices scared me off that idea really fast. I was looking at monthy rent that was 40% higher than my mortgage payment. Yeah, I could afford it on the short-term, but viewed it as wasting money that could have gone towards paying the mortgage on the place I ended up buying.
Rents are high thanks to those who abandoned their homes, and who are flat out overcharging & taking advantage if the false sense of demand created by hungry/desperate realtors. (Obviously a realtor cannot make a living out of one house that might come for sale in a desirable area.)
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Old 01-15-2013, 05:56 PM
 
Location: North of South, South of North
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Quote:
Originally Posted by algia View Post
Rents are high thanks to those who abandoned their homes, and who are flat out overcharging & taking advantage if the false sense of demand created by hungry/desperate realtors. (Obviously a realtor cannot make a living out of one house that might come for sale in a desirable area.)
There were a total of 3,387 homes sold just in December alone in Tampa Bay. That is a wee bit more than just one house. I don't think the realtors need to be creating a false sense of demand, when the demand is up that high already....LOL

I do agree, however, that a lot of the rental issues are because of people previously bailing on their mortgage obligations they knowingly agreed to.
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Old 01-16-2013, 07:45 AM
 
Location: Myrtle Beach
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Sounds like I need to try and figure out how to buy a rental property
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Old 01-16-2013, 07:49 AM
 
5,453 posts, read 9,250,550 times
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You weren't here between 2004 and 2007...so how would you know!? We've seen this before...
Quote:
Originally Posted by PriusH8r View Post
I don't think the realtors need to be creating a false sense of demand, when the demand is up that high already....LOL
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Old 01-16-2013, 08:05 AM
 
Location: North of South, South of North
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Quote:
Originally Posted by algia View Post
You weren't here between 2004 and 2007...so how would you know!? We've seen this before...
What does that have to do with the current sales volume and current prices?

BTW, in case you are unaware, FL was not the only place with a bubble. I lived in a state with a big bubble and was educated enough to realize it, so we sold at a huge profit. We have done very well moving from state to state, taking advantage of the markets.
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Old 01-16-2013, 09:23 AM
 
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Quote:
Originally Posted by PriusH8r View Post
What does that have to do with the current sales volume and current prices?
Its a pattern, we've seen it before. Those of us who lived here longer than 10 years have seen all this happening before. (copy & paste). All these articles are simply repeated with an update date. Nothing more. All you have to do is drive around neighborhoods and see which ones have the most for sale signs, and which have less or none. You also forget that a busier time is before school is starting...and after holidays.
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Old 01-16-2013, 09:32 AM
 
Location: North of South, South of North
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Quote:
Originally Posted by algia View Post
Its a pattern, we've seen it before. Those of us who lived here longer than 10 years have seen all this happening before. (copy & paste). All these articles are simply repeated with an update date. Nothing more. All you have to do is drive around neighborhoods and see which ones have the most for sale signs, and which have less or none. You also forget that a busier time is before school is starting...and after holidays.
I have said in previous posts that the consumer creates these cycles. Yes, it is a pattern. Always has been and always will be. It happens in places other than FL as well. Prices come down, which they did, and people start buying again. The more people buy, the higher the prices go. The higher the prices go, the more people feel they need to get on the band wagon. At some point, the prices get too high, things fall back down to earth and then consumers start the cycle all over again.

So it looks like we agree on that part. All I am saying, backed up back stats kept by the counties, is the cycle has started back upward. That's all.

Oh, and I don't forget about busier times. The stats also compare the same time periods from previous years. Apples to Apples.
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Old 01-16-2013, 09:52 AM
 
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Prices did not come down in some "natural cycle"!
United States housing bubble - Wikipedia, the free encyclopedia
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Old 01-16-2013, 10:07 AM
 
Location: North of South, South of North
8,704 posts, read 10,833,620 times
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Quote:
Originally Posted by algia View Post
Prices did not come down in some "natural cycle"!
United States housing bubble - Wikipedia, the free encyclopedia
If you study all the market cycles throughout the decades, you would understand how it works. You would also understand that it can be amplified by additional forces.

It appears you have a certain belief and you are sticking to it. If that works for you, great. Whatever works for you.

Myself, I prefer to study history and cycles. This allows me to make more educated decisions, thus take advantage of the cycles and do very well. But that's just me. I just have a thing about understanding how things really work and setting aside stuff that is irrelevant.
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Old 01-16-2013, 10:33 AM
 
5,453 posts, read 9,250,550 times
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Quote:
Originally Posted by PriusH8r View Post
If you study all the market cycles throughout the decades, you would understand how it works. You would also understand that it can be amplified by additional forces.

It appears you have a certain belief and you are sticking to it. If that works for you, great. Whatever works for you.
I just believe in "responsibility" too much to agree with these useless "cycles"! and the necessity to perpetuate them.
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