[Tetto]

My wife and I just got back from a trip to Sarasota Fl, looking for a condo down there. That market is just demolished; you can get condo's for 50 cents on the dollar from prices 2 years ago. Those people are hurting in the extreme, but CT looks like the paragon of stability in comparison.

[arielmina]

why in gods green earth would the market pick up just because there is a new President? The economy needs to get better, people have to start feeling that false sense of security again, and then maybe, in a few dozen years, the market will "pick up again".

[basehead617]

Regarding Sarasota.. totally!

There are places in I think it was Siesta Key.. perfectly nice area.. Homes selling for mid $200s that were $600k+ a few years ago.

You can't recover from that.. just take the foreclosure and move on with life.

[Tetto]

Originally Posted by basehead617

Regarding Sarasota.. totally!

There are places in I think it was Siesta Key.. perfectly nice area.. Homes selling for mid $200s that were $600k+ a few years ago.

You can't recover from that.. just take the foreclosure and move on with life.

Yea, no kidding. The broker was so matter of fact, it was refreshing! Everybody knows they got hammered so there's no hiding anything. Venice is next on our list, some nice cheeep properties there!

[kidyankee764]

Sarasota-Bradenton-Venice was the single hardest hit metro area in the country for the recession. If you're looking for a vacation condo, go there! Just be careful because there are quite a few unfinished condo complexes that can affect HOA fees. But if you can find a good deal on a finished complex, do it. A few years ago what was selling down there for 300k is now selling for 140k.

[AnonChick]

Originally Posted by blakesq

any guesses on when the housing market will pick up again? My guess is the market will start picking up after(if) we get a new president in office, so we are looking at spring and summer of 2013 at the earliest.

Next Thursday at precisely 7:34 AM. However, the market will fall again, approximately 9:19AM the same date.

[Konig1985]

Originally Posted by jjinla

"Re another poster's comment, about housing prices retaining their bubbly character in So Cal: actually, So California has been tanking. Down 35% since 2008, and not 'recovering' any time soon.

Just to clarify, I said prime So Cal...places near the coast and near job centers and such. I lived there for decades until last year, so I know a thing or two about the market. The exurbs (Bakersfield, Palmdale, etc.) and even places in San Diego (because there are and always have been few jobs there) are what tanked. Places in LA with decent schools like Pacific Palisades, Manhattan Beach, Santa Monica and such really haven't dropped more than 15% max, if that. It's the same kind of market as OG & Riverside - people will always pay a huge premium for a good commute and schools. For that reason, I always say buy into the best neighborhood that you can afford. Can you get a bigger house in North Stamford vs. Greenwich? Certainly. But over time, you will always have a better return on the Greenwich house.

Coming from a family that owns 5 properties in 4 different countries I can't agree more. Just look at San Marino and Hillsborough. The holding power in these places are ridiculous.

[hartford_renter]

The housing market will never take off in CT. And there was very little of a boom even in the housing boom from 2003 to 2006

The reason is taxes and demographics. Maybe in FL or Las Vegas, but in CT a home is a place you live. You probably won't even break even on your investment.

Why
- Taxes 2%
- Mortgage 5%
- Maintenence 1%

Young people are waiting longer to get married, have huge debt from college and high unemployment. This has changed dramatically over the last 15 years .

If you don't have a family you are better of renting hands down!

[tickyul]

Originally Posted by jjinla

I'm a die-hard Republican, too, but even I don't think that Obama will be defeated in 2012 unless the GOP puts forth a real candidate. There, my contribution to the anticipated political debate.

Prices will drop if and when inventory rises (which can happen if financing costs rise, unemployment rises, etc.). Places in lower FF will never be accessible to most people, though, just as places in prime So Cal never dropped much in the past few years. People will always choose those areas over areas less desireable to a point, moderating any substantial drops.

Now of course, since the Jumbo limit was just reduced, and Obama wants to at the same time reduce the mortgage deduction for families making over $250K, it's anyone's guess. If it causes the $1M+ market to drop, everything under it will drop accordingly, too (but then again, rents will also rise since owning just became more expensive).

I am pretty much a right winger on many issues, but.........I totally agree with the above post. Wait until the GOP candidate get picked.............wow, that is when the Dems really start spending some of that Billion+ to keep Mr *ussein in office.

I just pray that someone like Moose Mama does not get the nod........wow, that will mean another 4 years of YOU KNOW WHO.

As for housing prices...........haha, Big Brother would like nothing more than to inflate another frenzied housing bubble. Big Brother has all of the tools to pump up another bubble...........besides, that is what this country runs on.......irrational bubbles.

[tickyul]

Originally Posted by Antlered Chamataka

Circa 2018.

Don't let the real estate creeps fool you. They already led millions of innocent people on during the housing bubble.

Haha, nice.......I cannot stand MOST sales people....they would throw their mothers under a bus to make a sale.

And yeah, the RE creeps are doing a LOT to try and pump up sales, I hear their BS on the telly all of the time.................BUY NOW, BEFORE IT IS TOO LATE................LOL.