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Old 01-19-2011, 11:53 AM
 
5,453 posts, read 8,852,888 times
Reputation: 2141

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the-eight-states-running-out-of-homebuyers: Personal Finance News from Yahoo! Finance

I'm wondering who has the nerve to even "ask" for a building permit (not referring to individuals remodeling, talking mass building here)
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Old 01-19-2011, 01:15 PM
 
Location: Trashorida
810 posts, read 1,515,602 times
Reputation: 463
are you for real? I didn't know we had a housing crisis.

Thank you... NOT
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Old 01-19-2011, 01:54 PM
 
17,288 posts, read 28,337,964 times
Reputation: 8676
Friends of mine have been trying to buy for almost a year now in coastal West Palm. Have an offer in on a short sale that's still ongoing for three months... Quite frankly, there isn't enough good inventory in their sub 400k price range right now, and it's very frustrating.

I keep reading about all these millions of foreclosures that are supposed to hit the market for the past, oh, three years, and still haven't seen em! (Short sales yes, "foreclosure sales".... left for the professional investors, apparently).
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Old 01-19-2011, 04:07 PM
 
Location: Lincoln County Road or Armageddon
4,419 posts, read 6,580,451 times
Reputation: 6178
81% drop in building permits-yow! That's either an alarming statistic or proof of the reckless over-development of Florida. Actually, it's both.

Last edited by vaughanwilliams; 01-19-2011 at 04:21 PM..
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Old 01-19-2011, 04:10 PM
 
5,453 posts, read 8,852,888 times
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My vote is for the second....(sadly)


Quote:
Originally Posted by vaughnwilliams View Post
81% drop in building permits-yow! That's either an alarming statistic or proof of the reckless over-development of Florida.
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Old 01-19-2011, 04:45 PM
 
Location: Spring Hill Florida
12,135 posts, read 15,322,248 times
Reputation: 6079
Reckless over development? Nobody was crying the blues when the real estate market was peaked and people were buying houses because they just had to get in on it before prices went even higher. Investors/Speculators/Developers were buying and building like mad.
Then the bubble burst and guess what? Those who overpaid for their homes bailed out when the value went down. If you liked the house at $250k, you should still like it though its only worth $150k. The easy way out? Walk away from a mortgage or do a short sale. Then what? Where do you live after that?

With a HUGE inventory of already built homes at reasonable prices who is going to build new? Thus building permits went down. What's the
surprise about that? Why build new when you have pick of so many already built (some never lived in) homes?





Quote:
Originally Posted by vaughnwilliams View Post
81% drop in building permits-yow! That's either an alarming statistic or proof of the reckless over-development of Florida. Actually, it's both.
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Old 01-19-2011, 05:19 PM
 
Location: Lincoln County Road or Armageddon
4,419 posts, read 6,580,451 times
Reputation: 6178
Like I said, reckless over-development.
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Old 01-19-2011, 06:13 PM
 
Location: Niceville, FL
12,372 posts, read 20,817,380 times
Reputation: 15275
Up here, one of the big local players has started construction on a development that will be 1,000+ homes at build out. It's family land owned free and clear and the last large parcel left in a desirable area. If they're pricing in the $150K-$250K range, I think they're going to do well since there are so few new homes like that in Okaloosa County that are that close to the coast.

Yes, the Green Berets (and F-35s at some point) are coming to the rescue of the local housing market.
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Old 01-20-2011, 02:27 PM
 
357 posts, read 766,842 times
Reputation: 344
Quote:
Originally Posted by TriMT7 View Post
I keep reading about all these millions of foreclosures that are supposed to hit the market for the past, oh, three years, and still haven't seen em! (Short sales yes, "foreclosure sales".... left for the professional investors, apparently).
The banks are juggling and cooking the books so they can keep their heads above water a little while longer. With all the millions of empty homes they have yet to foreclose on and then put on the market, they would fold overnight if they began massive foreclosure proceedings. Not to mention, most home loans from the last several years are fraudulent.
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Old 01-20-2011, 05:51 PM
 
5,507 posts, read 10,147,035 times
Reputation: 2301
Quote:
Originally Posted by TriMT7 View Post
Friends of mine have been trying to buy for almost a year now in coastal West Palm. Have an offer in on a short sale that's still ongoing for three months... Quite frankly, there isn't enough good inventory in their sub 400k price range right now, and it's very frustrating.

I keep reading about all these millions of foreclosures that are supposed to hit the market for the past, oh, three years, and still haven't seen em! (Short sales yes, "foreclosure sales".... left for the professional investors, apparently).
Real estate markets are really city specific. There are four new homes being built in my area that all cost over 500k(One costs 2 million). On the other side no one is really building smaller homes and just purchasing what is available. I guess a case of the rich are still rich!
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