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Old 06-08-2009, 02:22 PM
 
113 posts, read 517,566 times
Reputation: 80

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It will be one of the best places to be when this thing turns around.

I am betting on it.

Florida is desirable. Best beaches in the country. So much to do. Great weather.(I like it hot).

Extremely low real estate prices in many parts of Florida.

Especially for what you get.

When I was first married 23 years ago I had a chance to relocate to Florida with cousins.

I could have gotten a moderate size house in the Naples area for $50-60k.

Instead I bought a house in Ct. for triple that.

Sure it ended up more than doubling in price.

The thing is I hate Ct.! I hate New England!

I hate the cold. Well we compromised and moved to South Carolina after 21 years of marriage.

She is now going back and we are getting divorced as we have never been able to agree on anything really.

I believe in Florida. I always have. It's were I really want to be.

I think it will emerge a fantastic bargain and a great place to live.
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Old 06-08-2009, 03:09 PM
 
Location: Lake Mary, Florida
793 posts, read 2,525,911 times
Reputation: 272

Everyone stills wants a piece of the sun.

Prices are great, the foreign crowds are snapping up properties and buyers from the States are moving here.

Cheap house prices + low interest rates = deals we will speak of with our friends for years to come when we get together. Hearing home prices are up and interest is in the double digits we will reminisce about the good old days of home prices around 200,000 and interest rates around 5%.
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Old 06-09-2009, 06:17 AM
 
4,423 posts, read 7,372,321 times
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We've had more economical freedom since moving to Florida... no income tax, low property tax and dropping (it went down $1,000 last year) and the sunshine isn't going away any time too soon! Florida will come back but slowly. To a lot of America it's a second-home mecca.
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Old 06-09-2009, 01:39 PM
 
552 posts, read 593,612 times
Reputation: 148
That's what we need in FL, more foreign investors.
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Old 06-09-2009, 01:44 PM
 
1,468 posts, read 4,753,365 times
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Quote:
Originally Posted by Scientifical Madness View Post
That's what we need in FL, more foreign investors.
I don't get your answer. Many of those million dollar ocean front places are owned by foreigners. So? They pay taxes.
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Old 06-09-2009, 02:02 PM
 
552 posts, read 593,612 times
Reputation: 148
http://business.theatlantic.com/foreclosures.png (broken link)
Here are the cities with the worst credit card debt in the country. Conclusion: Orlando is inundated like a family at the bottom of Splash Mountain.
http://business.theatlantic.com/2009...california.php


To answer your question, I think it DEFINTELY attributed to the trouble we are in now. They often aren't local market knowledgable, and often make mistakes and later walk away. But obviously, they arent anymore of a problem than all the investors from up North that bought multiple houses and didnt even live here, and then later walked away after they couldnt re-sell them.
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Old 06-09-2009, 03:49 PM
 
4,423 posts, read 7,372,321 times
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Soooo.... you don't like foreigners and you don't like people from up north. So... what?? Florida should remain a townie state? Just natives? Like mango said... those foreigners, those northerners... they're saving Florida's ass.
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Old 06-09-2009, 05:04 PM
 
552 posts, read 593,612 times
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The articles available on the web even suggest that foreigners buying up the properties in places like CA and FL are not necessarily a good thing, for the reasons I spoke of above. But just as I said in post above, no worse than all the people that moved to FL from up North hoping to get rich by buying numerous houses and for the sole purpose of resale. That didnt happen? How did that save FL's ass? If one is going to move here, great, but buy one house and live in it, dont lie about your income on your application, and buy two - three houses hoping to get rich. The "get rich quick" schemers that run to FL gets really old. You see the big bust of all the high profile millionaires that were involved in all the real estate schemes and scams down here?

http://business.theatlantic.com/2009...california.php Florida and Southern California clearly helped get the foreclosure ball rolling. As BusinessWeek presciently noted two years ago, Florida's glut of residential housing made it one of the first states (along with, of course, California) to slip into the recession that now grips the country. For a long time, Floridians used their houses as ATMs. It's likely that when their house value imploded, they suddenly found themselves underwater with both the mortgage and credit card companies. Indeed, Forbes found that the average Orlando earner owed 23% of their income to the credit card companies, which is incredibly like saying the credit card companies are owed the equivalent of a Floridian's summer income.
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Old 06-09-2009, 05:48 PM
 
1,084 posts, read 3,871,158 times
Reputation: 348
Quote:
Originally Posted by Scientifical Madness View Post
The articles available on the web even suggest that foreigners buying up the properties in places like CA and FL are not necessarily a good thing, for the reasons I spoke of above. But just as I said in post above, no worse than all the people that moved to FL from up North hoping to get rich by buying numerous houses and for the sole purpose of resale. That didnt happen? How did that save FL's ass? If one is going to move here, great, but buy one house and live in it, dont lie about your income on your application, and buy two - three houses hoping to get rich. The "get rich quick" schemers that run to FL gets really old. You see the big bust of all the high profile millionaires that were involved in all the real estate schemes and scams down here?

What's Wrong With Florida and California? - The Atlantic Business Channel Florida and Southern California clearly helped get the foreclosure ball rolling. As BusinessWeek presciently noted two years ago, Florida's glut of residential housing made it one of the first states (along with, of course, California) to slip into the recession that now grips the country. For a long time, Floridians used their houses as ATMs. It's likely that when their house value imploded, they suddenly found themselves underwater with both the mortgage and credit card companies. Indeed, Forbes found that the average Orlando earner owed 23% of their income to the credit card companies, which is incredibly like saying the credit card companies are owed the equivalent of a Floridian's summer income.

i read somewhere that 40% of fl residents give 60% of their income to housing cost.
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Old 06-10-2009, 09:14 PM
 
552 posts, read 593,612 times
Reputation: 148
On the chart, I just noticed how the panhandle is totally different than S FL and most of Central FL.
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