fla housing market (Orlando: real estate, foreclosures, rentals)

[hardworker1963]

What is the best place to buy reasonable prcied rentals in fla? Is there any money to be made in the housing market?

[granitelady]

buying rentals in Fl is very tricky and you really need to know what you're doing.
most rentals have associations that due to the large number of foreclosures have not been getting their dues and are passing the loss onto the paying residents through shortage assessments.
you'll need a really experienced realtor to help you on that!
I've seen out of State investors getting hurt here so be careful.

[Nolefan34]

There is money to be made. Try this: Buy a house. Live in it for 30 years. Then the market will rebound by then and you will make a profit. The days of flipping are over.

[KasperFile]

Housing in FL still has a lot of downturn coming, will take effect over the next 2 to 3 years. Why you ask?

take all the factors, such as:

1: Low interact rates: contrary to what reltors that try having you believe, low interest rates are bad for future growth in RE values as soon as the interest rate increments RE values decease. interest rates = interest monthly payments = less people could afford that same home = home price needs to come down to reach it's buyers affordability levels.

2: Government Interventions: good old Uncle SAM may seem to be helping by implementing all the government intensives to buy in, their actually harming future values of RE market.

3: Jobs: FL is leading the nation in unemployment, no or fear of loosing job less people buying homes. theirs no signs to show hosing getting better anytime soon.

4: Shadow Inventory: It's belived that the curent

Bottom line is real estate will not bottom Intel it's back to "fundamentals" meaning no more government Interventions, normal interest rates fluctuations, sustainable jobs, and banks have dumped their shadow inventory.

if you would like to get a good indicator of how your locale fl markets doing, check cyberhomes website as it's know owned by a group of major banks so will show the vales the banks see the house at.. .







Robert Shiller Sees `Iffy' U.S. Housing Market Outlook: Video


YouTube - Robert Shiller Sees `Iffy' U.S. Housing Market Outlook: Video

[Nolefan34]

KasperFile>

Prices will bottom when demand catches up to supply. Its as simple as that. Right now supply is greater than demand. And demand continues to shrink due to some factors you mentioned: rising unemployment, current foreclosures, etc. As long as people continue losing their homes, and as long as they continue losing their jobs, they will not be able to buy housing. Also, loans are harder to get now for first-time buyers.

There are several ways the market can bounce back:
1. The population explodes- We saw this after the 1981-1982 recession. People thought South FL was done and there was a Time Magazine article saying how doomed this place was. Boy were they wrong. They had no clue what we were in for from about 1983-2005. South FL will continue to have a steady stream of younger people and families moving here in the coming years. Immigration will be a big factor too.

2. New home building ceases- This seems to bode well for South FL since there is no more land to build on. The current housing over-supply might dry up quicker here than in Orlando or other parts of FL due to the lack of land. The only place to build here is up. That will only make demand and prices on existing housing go up.

3. Economy/job market picks up- It will never be great and FL will probably always be a low-wage state. But if unemployment steadily improves during the next 5-10 years this will aid the housing market. It will also help if loans become more readily available. But as someone else mentioned low-interest loans are bad for the future.