[MrTudo]

Originally Posted by verobeach

To Delasalle..

PERFECT POST!

But you're wasting your keystrokes. These whiners have driven away their families and their neighbors with their negativity and this board is all they have. Through it, they are creating their own reality. You called NAH delusional, but if that's the way he's seeing things then I guess he has created his own reality.

Bingo!.................

[firemed]

Originally Posted by Need_affordable_home

Trust me, I got over staying in south Florida a while ago. The purpose of this thread is for anyone rich that wants to stay in Florida should wait for house prices to drop more. I have stated a case where this seller went from $299k to $242k in order to sell because no one wants to pay so much. Yes some people dont care about high HOA, property taxes and hurricane insurance(or they go uninsured) but I think most people care about not overpaying for a house that will be cheaper in the next few months and years.

Give it some time many investors who got caught with homes they can’t sell have turned to renting their properties. ‘We’re flooded with homes that have been taken out of the sales pool,’ said Sharone Martinelli, Wagner Realty’s relocation director.”

“Much like those who listed their homes as the real estate market settled, some people who have turned to leasing their properties instead set unrealistic expectations in 2006. ‘Anything priced over $1,500 a month is very, very hard to rent,’ said Ron Cornette, Wagner Realty’s marketing director.”

“Historically, investors have been able to get about 1 percent of the home’s value as a monthly rent. Now, Cornette said, the homeowners are lucky to get a half percent. For instance, a $300,000 property that might have fetched $3,000 a month in rent is now lucky to get $1,500 a month.”
If they lose money each month at some point they will have to cut the loss and lick there wounds.

[alexander59]

In the last few weeks I have seen a couple of houses sell for more than I thought they were worth, both used creative financing and the county of Hillsborough gave them money for a down payment, I am surprised these houses were appraised for the loan value. One of the houses is in my neighborhood approx. 1200 sq feet, three bedrooms one bath, the house is orange, freshly painted, bars on some windows and the septic tank under a room addition, probabaly not disclosed. The football stadium is about 2 miles south of here, not as nice a neighborhood as it used to be, many immigrants, and two families living in one house. The house sold for 235,000 [asking price] and I find that just about impossible, almost seems shady, if that house is worth that I am going to put mine up for sale for that much and it should go the next day. The other house is in my Mothers neighborhood and it sold for almost 200,000 the people that bought it also have very creative financing and the county gave them 40,000 that they do not have to pay back unless they sell the home, this seems to be happening a lot, a lot of Latino realtors are more aware of the opportunities for low income people to buy homes. This information is disclosed on your mortgage and is in the public records. I have noticed a huge bunch of people taking advantage of these programs, must be low income and if you sell the home you have to pay the loan back, unless you stay in your home ten, twenty or thirty years depends on the grant or loan. Not every realtor or broker tells potential buyers about these programs, I know when I go to sell my house I will definately find a realtor that knows. Another thing that Hillsborough county is giving low income people is grants or loans to fix up your house, some people have used these low or interest free loans or grants to fix up thier houses and sell them. of course they have to pay the loan back but a lot of people did very well by doing this.

[DeLaSalle]

Originally Posted by Need_affordable_home

Trust me, I got over staying in south Florida a while ago. The purpose of this thread is for anyone rich that wants to stay in Florida should wait for house prices to drop more. I have stated a case where this seller went from $299k to $242k in order to sell because no one wants to pay so much. Yes some people dont care about high HOA, property taxes and hurricane insurance(or they go uninsured) but I think most people care about not overpaying for a house that will be cheaper in the next few months and years.

I will feel very bad for you in 3-7 years from now as you and countless other "unfortunates" are crying ;

"If I Just would have bought in 'The Crash' of 2006" I would be sitting on a Gold Mine...

[tallrick]

Originally Posted by DeLaSalle

I will feel very bad for you in 3-7 years from now as you and countless other "unfortunates" are crying ;

"If I Just would have bought in 'The Crash' of 2006" I would be sitting on a Gold Mine...

Not when you're paying more in property taxes than your "investment" is appreciating. Prices have topped out until the economy starts making REAL gains.

[summergal]

Originally Posted by DeLaSalle

There are people that "Want" to pay high HOA fees...

There's a fool born every day hehe

[Need_affordable_home]

Originally Posted by DeLaSalle

I will feel very bad for you in 3-7 years from now as you and countless other "unfortunates" are crying ;

"If I Just would have bought in 'The Crash' of 2006" I would be sitting on a Gold Mine...

Thats not what most people are predicting. Ill be supprised if houses in the next 5 years still cost as much as they once did(adjusted for inflation) Ive read what the experts predict and they say 15 years from now, house prices wont be any higher than they are now(again adjusting for inflation) in other words once we reach the bottom, house prices will go up at the rate of inflation.

Tallrick is right, youll lose money on property taxes, insurance and HOAs. Houses arent a good investment anymore because prices are too inflated. Its like stocks, you never buy high!

Even if you really believe house prices will go up, most of us cant afford a Florida(nor CA, NYC, HI, NJ, etc house) in the first place so its a moot point. Also investments like mutual funds are doing much better than real estate and will do better for a long while. The time to invest in real estate was before the year 2000. Its way too late now.

Originally Posted by summergal

There's a fool born every day hehe

I dont want to pay any HOA and if I do, no more than a few dollars a month. I dont need gated or anything, just move to a low crime town then you wont have to worry about security.

[Christian11]

Originally Posted by tallrick

Not when you're paying more in property taxes than your "investment" is appreciating. Prices have topped out until the economy starts making REAL gains.

This is a very hard reality.... in the "house flipping hot market", the home buying/selling business was great. Now, we have a cooling economy, high interest rates, and even higher property taxes. If you keep a house more than let's say 5 or 6 months, then guess what? Your property tax cost can hurt profits massively. If you don't have cash to buy the homes you want to flip, can you also afford homeowner's insurance (no lender is going to like you having a home and no insurance, believe me).

Furthermore, with prices this high, speculators will have to shill out a lot more cash, and so will buyers of such homes. With stagnant salaries and bad outlooks for the average American middle class, young couples, starting families (the mass of the consumers in the USA), how will people be able to afford their homes in the first place??

Lots ot consider....
Chris

[DeLaSalle]

Originally Posted by tallrick

Not when you're paying more in property taxes than your "investment" is appreciating. Prices have topped out until the economy starts making REAL gains.

It is worth every dime and then some.
Best Regards,
DLS

[DeLaSalle]

Originally Posted by Christian11

This is a very hard reality.... in the "house flipping hot market", the home buying/selling business was great. Now, we have a cooling economy, high interest rates, and even higher property taxes. If you keep a house more than let's say 5 or 6 months, then guess what? Your property tax cost can hurt profits massively. If you don't have cash to buy the homes you want to flip, can you also afford homeowner's insurance (no lender is going to like you having a home and no insurance, believe me).

Furthermore, with prices this high, speculators will have to shill out a lot more cash, and so will buyers of such homes. With stagnant salaries and bad outlooks for the average American middle class, young couples, starting families (the mass of the consumers in the USA), how will people be able to afford their homes in the first place??

Lots ot consider....
Chris

All True Chris,
Absolutely true.
Although it doesn't matter to folks, like me, who bought for a long-term place to live(minimum 7-10 years)that they enjoy...