Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
That would make you a HORRIBLE realtor. Why in the WORLD would someone buy a home now when the price is going to be MUCH cheaper in a year from now? that is extremely, extremely poor advice. In Florida homes have out stripped pay by like 10 times or some odd number (I forget the amount). Prices have to come back in line. Until then, anyone telling someone to buy a home now needs to be taken with a grain of salt.
Yeah, prices will go up at some point "in a distant future, in a galaxy far, far away" but even then, they will only appreciate at the same rate as annual income does in a given area. Unless of course exotic loans some how make a reappearance. I have no doubt that humanity will show just how silly it is and use them again if the chance presented itself.
Ummm, that is only YOUR opinion - and not very nice of you to call that person a "horrible realtor" especially since he/she stated it was their own opinion only, unlike you who stated it as a fact. NO ONE KNOWS what is going to happen. And frankly there are quite a few folks who feel that it MIGHT be a good time to buy IF it is a home to live in and keep for awhile and they find a good deal.
While it's true that overall in most places in the country (and Florida) property values are dropping, they are doing so at different rates - some places will always be seen as more desirable, like our beautiful beachfront towns, where people come to vacation and/or retire or overwinter. This means that it is NOT TIED TO INCOMES in these places - people from all over the country and world come here to buy, and yes even now, so it is tied to supply and demand. It will fall to a certain level, maybe even be at or close to bottom depending where one is looking, and when people perceive value, they will buy, simple as that.
One size just does not fit all, here. And of course, this is all my opinion only.
I dont think Wilds style has read any of the other threads which i have posted sources ranging from FOX to CNN who say now IS a good tome to buy a HOME. You are absolutly right when you say different areas are falling at different rates. In the areas i specialize in there are homes that are at the lowest prices they are likely to go to. The problem is there are an awful lot of houses that are still over priced and they will fall, but if someone engages a GOOD realtor, then they can source these properteis out for them.
Of course there are other areas in Central Florida which havent reached their potentially lowest price and still have a little way to fall, but i think Wild Style should be very careful, making comments about people (someone he/she has never met, and doesnt know what area i specialize in). Real Estate has always been and will always be a long term investment, and i think their comments only show that they are more concerned with a quick turnaround. When people typically buy a home, they dont care what they can sell it for in 6 month- 1 yrs time. They want to buy a home that is good value at the time they buy it and that they can afford. Indeed the CN article i published in another thread stated that there have even been wage gains; personal income rose 0.5% in December.
You may want to consider all sources before making wild claims about a person. JBRAVO and i have many differences in our thinking and at times we had heated debates, but that poster never made rude comments like you.
But the subject of this thread is house flipping in Florida.
"New Teacher" asked if it was lucrative, or something to that effect.
"Flyers Fan" answered that is is lucrative.
Unfortunately, they seem to be the same person.
The thread should probably be closed, since it appears that this thread was started with an ulterior motive. Why else would someone ask a question and then assume another personna and answer himself?
But the subject of this thread is house flipping in Florida.
"New Teacher" asked if it was lucrative, or something to that effect.
"Flyers Fan" answered that is is lucrative.
Unfortunately, they seem to be the same person.
The thread should probably be closed, since it appears that this thread was started with an ulterior motive. Why else would someone ask a question and then assume another personna and answer himself?
your right, it does seem a bit bizaar. My reason for making the above comment was because i had said i dont think flipping is a good idea at the moment, but people buying a home to live in is a good idea, but Wild Style thought they woud reply with a rude comment towards me.
Ummm, that is only YOUR opinion - and not very nice of you to call that person a "horrible realtor" especially since he/she stated it was their own opinion only, unlike you who stated it as a fact. NO ONE KNOWS what is going to happen. And frankly there are quite a few folks who feel that it MIGHT be a good time to buy IF it is a home to live in and keep for awhile and they find a good deal.
While it's true that overall in most places in the country (and Florida) property values are dropping, they are doing so at different rates - some places will always be seen as more desirable, like our beautiful beachfront towns, where people come to vacation and/or retire or overwinter. This means that it is NOT TIED TO INCOMES in these places - people from all over the country and world come here to buy, and yes even now, so it is tied to supply and demand. It will fall to a certain level, maybe even be at or close to bottom depending where one is looking, and when people perceive value, they will buy, simple as that.
One size just does not fit all, here. And of course, this is all my opinion only.
You would be incorrect. There are TONS of people who know what is going to happen. They have been predicting this since 2003 so this is nothing new, nothing unheard of and nothing mystical. The housing market is mirroring the same thing that happened in the 80/90s, 70s and during the GD. You should do more research. I assume many people should do more research. had they done that, they wouldn't be in the situation they are in now. Just go check through past posts, CJFlorida, Tallrick, Bale, Myself and MANY others have been saying the same thing over and over again and month after month our sources have proven correct. Prices will fall, and they will fall until they are inline with local incomes, it is what it is. To purchase something knowing that it will be cheaper in a month or even a year is just bad business all around.
*shrugs*
Quote:
Originally Posted by cfIfan
I dont think Wilds style has read any of the other threads which i have posted sources ranging from FOX to CNN who say now IS a good tome to buy a HOME. You are absolutly right when you say different areas are falling at different rates. In the areas i specialize in there are homes that are at the lowest prices they are likely to go to. The problem is there are an awful lot of houses that are still over priced and they will fall, but if someone engages a GOOD realtor, then they can source these properteis out for them.
Of course there are other areas in Central Florida which havent reached their potentially lowest price and still have a little way to fall, but i think Wild Style should be very careful, making comments about people (someone he/she has never met, and doesnt know what area i specialize in). Real Estate has always been and will always be a long term investment, and i think their comments only show that they are more concerned with a quick turnaround. When people typically buy a home, they dont care what they can sell it for in 6 month- 1 yrs time. They want to buy a home that is good value at the time they buy it and that they can afford. Indeed the CN article i published in another thread stated that there have even been wage gains; personal income rose 0.5% in December.
You may want to consider all sources before making wild claims about a person. JBRAVO and i have many differences in our thinking and at times we had heated debates, but that poster never made rude comments like you.
no one should base their opinions on when to buy on CNN and FOX. They are news outlets, not economic majors. They quote from the NAR economist whose jobs are to *gasp* sale houses. Do real research, read from Nouriel Roubini, Erick Jenzsen and a host of other well respect financial and economic researchers. Nouriel Roubini predicted the bubble back in 2003 LONG before CNN and Fox ran any such pieces and he gives sound economic information so does Eric Jenzen (i think i am spelling his name wrong). the problem is people do not understand economics or finance (I have a degree in the subject) and that in and of itself has led to this entire mess. Do research from real economist, and from a assorted range of them to see what they are saying. Many of the top Economist (those independent from the real estate market) are predicting 20% to 30% further drops. So why in the light of that would anyone buy anything? Also in more inflated markets (florida, Cali) they are expecting 50 to 60 percent drops. Do the research, the info is definitely out there.
These were just a few examples which i had offered. Indeed these news media only a couple of months ago were saying dont buy, all of a sudden they change their tune. You seem to be generalizing the whole area without taking into consideration regionalities. I would suggest you take a look at all the sources offered, as opposed just selecting the sources which suit your point of view.
I would hate for people to think that every area is the same and wait a year or so, only to find that properties didnt go down, and in actual fact are rising. After all, if you had actually done your homework, you would find that many homes on the market are at the price point that they should be given the normal rate of growth as opposed the the fake bubble we were in. If you think people are going to be able to pick homes for nothing, you are sorely mistaken. If that were the case, then hey ill buy 20. Having an Economics degree doesnt mean you have an understanding of regionalities, and how different areas have been affected. Otherwise you would be aware that some areas are levelling out.
These were just a few examples which i had offered. Indeed these news media only a couple of months ago were saying dont buy, all of a sudden they change their tune. You seem to be generalizing the whole area without taking into consideration regionalities. I would suggest you take a look at all the sources offered, as opposed just selecting the sources which suit your point of view.
I would hate for people to think that every area is the same and wait a year or so, only to find that properties didnt go down, and in actual fact are rising. After all, if you had actually done your homework, you would find that many homes on the market are at the price point that they should be given the normal rate of growth as opposed the the fake bubble we were in. If you think people are going to be able to pick homes for nothing, you are sorely mistaken. If that were the case, then hey ill buy 20. Having an Economics degree doesnt mean you have an understanding of regionalities, and how different areas have been affected. Otherwise you would be aware that some areas are levelling out.
Try re reading my last two sentences of my previous post. As stated before, most places will still fall probably by another 20 to 30%, in places that were extremely over inflated they will get to about 50 to 60 percent. Now if you can't recognize those words to indicating certain areas, regions, cities, will be affect differently then I really don't think we should continue to discuss this.
Also as stated before by economist, until areas see home prices come in line with local incomes, it will continue to fall, its that simple. Also if you didn't know, growth rates in housing is in direct correlation to local incomes. Home prices can no exceed that unless of course you have faux wealth in the form of exotic loans (which is what caused all this mess in the first place).
Try re reading my last two sentences of my previous post. As stated before, most places will still fall probably by another 20 to 30%, in places that were extremely over inflated they will get to about 50 to 60 percent. Now if you can't recognize those words to indicating certain areas, regions, cities, will be affect differently then I really don't think we should continue to discuss this.
Also as stated before by economist, until areas see home prices come in line with local incomes, it will continue to fall, its that simple. Also if you didn't know, growth rates in housing is in direct correlation to local incomes. Home prices can no exceed that unless of course you have faux wealth in the form of exotic loans (which is what caused all this mess in the first place).
I think you answer you own question to be honest. In most areas. That isnt all areas. You cant just stick the whole country and say it across the board, it is ridiculous. Some areas have reached their levels. We know they have because those are the properties which are selling. If you actually take a look at the figures for houses selling, you will see there are alot which are because they are well priced. But once again you keep talking about prices falling. I am saying now IS a great time for people to buy if they are buying a home which they dont envisage selling for a while. Most people dont want to wait a year or 2 on the possibility that they may save a little bit especially in some locations where properties can be found that are priced right. To be honest you just sound like an investor who wants to buy as low as possible and then flip it. Ive already said this isnt the market for that. We will just have to agree to disagree.
But the subject of this thread is house flipping in Florida.
"New Teacher" asked if it was lucrative, or something to that effect.
"Flyers Fan" answered that is is lucrative.
Unfortunately, they seem to be the same person.
The thread should probably be closed, since it appears that this thread was started with an ulterior motive. Why else would someone ask a question and then assume another personna and answer himself?
Let me set the record straight here. Yes, my posts were initially through NewTeacher and now currently through FlyersFan. I'm not sure why everyone on here attempts to distort what was written but I will try to clarify. As my first severl posts indicated I was NewTeachers father from New Jersey on vacation in Ocala. Florida and I was seeking any information or advice that experienced home flippers were willing to offer about specific areas as I was planning to move down. I never said I was from Florida or had flipped houses in Florida....only that I was seeking advice from those with experience. Someone has inaccurately stated that I said it was lucrative here......if so.....I would appreciate this person providing the quote in response....otherwise...if you can't get your facts straight please refrain from offering false statements. Before leaving for home my daughter, Newteacher, helped me set up an account on here under the name of FlyersFan so I would continue communication at home hopefully to hear from those with flipping experience and knowledge of stable areas in Florida. I have been in the real estate industry for 20+ years in New Jersey as a home inspector and a New Jersey DEP licensed radon specialist. During that time I have performed over 5000 home inspections for buyers and have mitigated 100s of homes with excessive radon levels. I literally have hundreds real estate agents, attornies, mortgage lenders and bank that I have developed trusted relationships with. Again I was attempting to do that in Florida, partially through this site, and have been somewhat successful. Unfortunately, most on here appear to more interested in attacking and discrediting and then laughing and snickering amongst yourselfs over your responses. Responses that are just plain rude, hurtful and mostly informed. Name calling like "hurtful" just because a realtor provides facts that you don't wish to hear. Being accused of ulterior motives because someone cares to have an opposite opinion. Silly congradulations to someone who considers himself a "sleuth" when most of the misinformation makes most of you sound more like Inspector Clouseau than Sherlock Homes. People that swear that the cost of houses in a neighborhood are based upon homewoners salaries.........apparently they never heard of supply and demand........no demand....low prices......high demand and prices go up.....not because someone got a raise. Shear lunacy and more incredible that most everyone on hear reads this and believes it. Does it discredit my business accomplishments the facts I have presented that I initially posted under my daughters name while on vacation and secondly under my name.....your responses make it sound like there was a conspiracy to dupe you all into buying and flipping homes against your will while my original post asked for advice from those in Florida who had experience. Instead of friendly advice from those with knowledge and experience I was barraged with responses from ill informed people whose only intent was to ridicule. If you have no knowledge or experience to respond intelligently to a post......why respond at all. You only come across as a bunch of playground bullies ganging up on someone a little different than what your used to. Being questioned by the Spanish Inquistion is probably a more pleasurable experience than receiving responses on here. And finally....yes I posted questions in Florida and New Jersey asking if anyone knew of locations for turkey shoot competitions. And before anyone jumps to any more inaccurate conclusions no turkeys are hurt......only paper targets are used. Its popular in New Jersey, especially in the fall, however, I am always seeking new ones and if moving to Florida would like to know of any there. I'm not sure why someone felt the need to present these posts as some type of evidence that I was trying to perpetrate some sort of hoax or purposely mislead. Seriously.....You all need to get a grasp on your imaginations.
Creating your own screen name and responding in a thread to yourself is disingenuous, at best, and may even be a violation of city-data's terms of service.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Thankyou Gypsypshchic
