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Update from Santa Rosa county 96 homes sold during Aug. I was looking at the sale prices and includes the whole scope from lots from $10K to one home 5097 SQ FT for $1.470 million in Gulf Breeze.
Hey lets spread some positive vibes!...Here's a great way to turn the real estate market around in Sarasota...everyone looking for property in other areas of Florida should check out the Sarasota area and discover what a wonderful area it is...Since I have visited, and now own two properties in Sarasota, I now describe it as THE GEM OF THE WEST COAST...I would encourage sellers to consider thier investment, improvements to thier property, tax liability, real estate commision and set a fair price, but, also remember that they own property in Sarasota, THE GEM OF THE WEST COAST...don't give your property away in this wonderful area...just ask a fair price and be content with a modest profit, considering the current market conditions...I'll be happy to break even with my wonderful Sarasota property and look forward to enjoying my other new wonderful Sarasota property!...Naive perhaps, but, I intend to stay positive about the Sarasota real estate market...I find it such a great great area to live...
Hey lets spread some positive vibes!...Here's a great way to turn the real estate market around in Sarasota...everyone looking for property in other areas of Florida should check out the Sarasota area and discover what a wonderful area it is...Since I have visited, and now own two properties in Sarasota, I now describe it as THE GEM OF THE WEST COAST...I would encourage sellers to consider thier investment, improvements to thier property, tax liability, real estate commision and set a fair price, but, also remember that they own property in Sarasota, THE GEM OF THE WEST COAST...don't give your property away in this wonderful area...just ask a fair price and be content with a modest profit, considering the current market conditions...I'll be happy to break even with my wonderful Sarasota property and look forward to enjoying my other new wonderful Sarasota property!...Naive perhaps, but, I intend to stay positive about the Sarasota real estate market...I find it such a great great area to live...
That advice is naive and could be dangerous to folks who are on the edge and need to sell. Positive vibes does not change the negative fundamentals coming down the road for Florida and Sarasota real estate. Holding on and waiting for a recovery when the perfect storm of negatives is coming is not wise.
To advise people to remember their investments, commissions, and set a '"fair price" is not good advice. The only people that determine what a 'fair price' is will be the buyers and their lenders. They will look at what comparable houses rent for, lenders will be very conservative going forward. They will look at all the foreclosures and force prices lower and lower.
The market does not care about what someone paid for a house in a bubble, it does not care about improvements made, it does not care about whether the seller will make or lose money.
Prices were not 'fair' to buyers going up....and they will not be 'fair' to sellers as this bubble deflates over the next 5 or so years. 'Fair' has nothing to do with it, the market is what it is, both up and down.
There are certain fundamental principles that apply only to homes. I say homes, rather than houses, which in Florida (recently) is an oxymoron.
Homes will always be in demand. Homes have families in them, children are born and raised in them, and the value is contained not only in the "property", but in the legacy, which is a result of personal investment. Homes have a connection to the surrounding area, either by location or by a neighborhood. Homes have "grown" up with the area, and have added value to the community. Homes are where the kids became adults, had their friends for a sleep-over, camped out in the yard... where the dog(s) digs their holes. Homes are where the grand kids love to go, and where their moms and dads love to send them. Home is where the BBQ is always cooking something, where the guys come over to watch football. Home is where the yard is a source of pride, where people stop and say hello because your home is inviting them to stop. Home is where your neighbor watches your stuff while your gone... and you do likewise. Home is sanctuary.
In Florida however... we have lots and lots of "houses". Houses are made of wood and concrete, houses have grass, trees and plants, granite countertops, stainless appliances. Houses have vaulted ceilings and tile floors, houses have high efficiency AC units(s). Houses have a dollar value, houses cost money to build and maintain, houses are investments based on the amount of money in them, and some cost more than others. Some houses have people in them, some do not. Houses have new people in them about every 5 yrs. I've owned 2 houses. There are many houses for sale... and will continue to be.
I live in a home now, and would like to see more people in Florida , buy and build/make a home. I do not find fault in protecting any investment, and young families can also grow out of a home, but not every investment has a dollar value. It takes a different paradigm of thinking... moving away from dollar based thinking to value based thinking. It take courage to make priorities that do not $$$ at the front of the equation. It requires a different type of investing... legacy investing.
There are certain fundamental principles that apply only to homes. I say homes, rather than houses, which in Florida (recently) is an oxymoron.
Homes will always be in demand. Homes have families in them, children are born and raised in them, and the value is contained not only in the "property", but in the legacy, which is a result of personal investment. Homes have a connection to the surrounding area, either by location or by a neighborhood. Homes have "grown" up with the area, and have added value to the community. Homes are where the kids became adults, had their friends for a sleep-over, camped out in the yard... where the dog(s) digs their holes. Homes are where the grand kids love to go, and where their moms and dads love to send them. Home is where the BBQ is always cooking something, where the guys come over to watch football. Home is where the yard is a source of pride, where people stop and say hello because your home is inviting them to stop. Home is where your neighbor watches your stuff while your gone... and you do likewise. Home is sanctuary.
In Florida however... we have lots and lots of "houses". Houses are made of wood and concrete, houses have grass, trees and plants, granite countertops, stainless appliances. Houses have vaulted ceilings and tile floors, houses have high efficiency AC units(s). Houses have a dollar value, houses cost money to build and maintain, houses are investments based on the amount of money in them, and some cost more than others. Some houses have people in them, some do not. Houses have new people in them about every 5 yrs. I've owned 2 houses. There are many houses for sale... and will continue to be.
I live in a home now, and would like to see more people in Florida , buy and build/make a home. I do not find fault in protecting any investment, and young families can also grow out of a home, but not every investment has a dollar value. It takes a different paradigm of thinking... moving away from dollar based thinking to value based thinking. It take courage to make priorities that do not $$$ at the front of the equation. It requires a different type of investing... legacy investing.
Not many "homes" for sale... but tons of houses.
I think you are 100% off base with that post. People move an average of every 3 years, due to many reasons. To imply a family in a home for only 5 years is somehow not as good is very offensive. You family and pets are all that matters, not the house you live in.
Many, many families rent. Some rent very small apartments and have amazing families. Others overextend themselves on McMansions and end up miserable. Some families live in one house for 40 years and are a total mess. Other families move every 2 years and are amazing.
What happened under Greenspan is a sin. He used the housing market to prop up the economy. People where given loans they never should have had. Interest rates were kept artificially low.
How many families are losing everything through foreclosure? They would have been better off renting an affordable place.
How about our great lifelong military families? I know a guy who is a Colonel and his family has moved all over the world. They never had a home, but his kids are tremendous. He is not in one place enough to make memories anywhere...but his family is top notch.
A house, home or whatever is NEVER an investment. Do a little research. Over the last 120 years, real home prices, adjusted for inflation, upkeep, other costs have stayed flat.
A solid family has nothing to do with owning a house or where you live or how long they live there. It has to do with the people, whether they rent a shabby trailer, move every year, or buy a $10 million dollar estate.
You say not many homes for sale?? That makes zero sense. Who is to judge what memories or whatever people had there, whether they were there 6 months or 6 years?
You can rent a house and make it a home. You can rent an apartment and make it a home. You don't have to buy a place. Everyone has different circumstances in their lives. Some people move a lot, some don't. Buying, renting, squatting, moving every year, staying one place a lifetime....it is all irrelevant to a happy place to live and a happy family.
Go visit Appalachia. Some families have lived there for over 100 years. And there are some pretty messed up families there. The other extreme are military families who move every year, new schools, new friends, no structure as far as a home at all. And some of these families are great.
JimKing said:
I think you are 100% off base with that post. People move an average of every 3 years, due to many reasons. To imply a family in a home for only 5 years is somehow not as good is very offensive. You family and pets are all that matters, not the house you live in.
I don't post anything as an absolute, Jim. I post from perceptive... different yes, but not wrong. Your examination of my post implies intellectual arrogance, as in all knowing and without the possibility of being incorrect. You choose a andectodal argument and latch on for the sake of control.
If in fact my post is 100% wrong... then I suspect all those who have such circumstance in their lives are either liars or fools... non of which would apply to people who make and effort to create something greater than a house. I have a broader perspective of life beyond facts and statistics, and many have put forth good valuable posts in a civil manner, however your opinions are born of indifference and contention. You don't get it Jim... and you never will.
(a)Do you even live in Florida? I bet you don't. (b)Have you raised a family? (c)do you even own a home? I bet (d) non of the above.
I don't post anything as an absolute, Jim. I post from perceptive... different yes, but not wrong. Your examination of my post implies intellectual arrogance, as in all knowing and without the possibility of being incorrect. You choose a andectodal argument and latch on for the sake of control.
If in fact my post is 100% wrong... then I suspect all those who have such circumstance in their lives are either liars or fools... non of which would apply to people who make and effort to create something greater than a house. I have a broader perspective of life beyond facts and statistics, and many have put forth good valuable posts in a civil manner, however your opinions are born of indifference and contention. You don't get it Jim... and you never will.
(a)Do you even live in Florida? I bet you don't. (b)Have you raised a family? (c)do you even own a home? I bet (d) non of the above.
Hey, DavenTenn, I liked your post, and agree with you. I think a lot of us here think in more broader terms than absolutes. There are so many variables in people's different circumstances, that I just don't see how anyone can say "it's the right time to buy" or "its the wrong time to buy.
I know JimKing is very knowledgeable in his facts and figures, but one size just does not fit all. Florida is a big state, with all kinds of real estate markets, and there are a lot of different types of buyers/sellers/renters, with different financial/familial situations and needs. We all examine our own picture and do what is right for us, frankly, it's no one else's business. As long as we are happy with our decisions, it doesn't really matter what anyone else thinks.
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Ya right
