"The idea that we can all get rich by buying and selling each other's houses was always an illusion."

[nhkev]

[quote=hiknapster;8748504]A history lesson.

When I moved there in 1998 the place was full of the lower to middle class snowbirds and the people that serviced them. Houses? I could have built a brand new home in Cape Coral in 1999 for $70,000. I still have the paperwork to prove it. The same house in my hometown of Massachusetts would have cost at least $180,000.

The place was cheap. Always has been.

I never said this was sanibel or captiva or palm beach, I agree with your assessment of what it was and is. I never said these homes that were going for $300k are going back there any time quick if ever, what I'm saying is they are not going to stay at 85k forever. even though jim cramer does agree with sw florida real estate investment, I was turned on to it before he mentioned it (maybe he's reading my posts)

[121804]

Originally Posted by hiknapster

"The Secret," a self-help book endorsed by Oprah, where one can wish things so has nothing to do with our actual circumstances. I've seen your positive thinking website and that is all very nice but you are flying blind on this one.

I was just talking to someone about this book yesterday.

Personally, I find the concept to be more damaging than valuable & why someone with the viewership like Oprah (hello...a RUN on KFC b/c she had coupons on her website?!?!?!?!) endorses such a concept always amazes me...but when you are close to the richest woman in the world, sometimes reality has a way of skipping a few brain cells. (And her circumstances, hard work, & some good luck made her rich, not "positive thinking").

"Positive thinking" isn't going to pay the mortgage or the cost of a new roof. It can mentally help a person get through the moment, but it is not going to magically write a check to Bank of America.

One thing that I will say though is that sometimes the mentality of the investor does indeed play a big role in the stock market. People get afraid, so they act on the emotion, and we have seeing that happen. Companies who are actually in a good financial situation but are laying off based on fear & worry.

But, just b/c something is cheap doesn't mean it is good. And many, many of the homes built in SWFL were built cheap, look cheap & in 5 years look 20 years old. It was a scam & many fell for it. Many still will. All based on an illusion of what is suppose to be & what they "deserve". Chinese drywall problems? Yeah, I want to take that risk to not have to shovel snow....stupid...

And some who got hit hard where doing the right thing all along, they just got pulled into the black hole that sucked in everyone in the area.

It's a depressing area & will continue to stay that way until the illusionists pick another part of the country to focus on & those who are their with the intent to provide back to the community & live a productive & healthy life withstand the crap that they are living with right now.

There are good people in that area who deserve something back...and tearing up half that place would probably be a great start along with a strong professional base....

[hiknapster]

[quote=nhkev;8753015]

Originally Posted by hiknapster

A history lesson.

When I moved there in 1998 the place was full of the lower to middle class snowbirds and the people that serviced them. Houses? I could have built a brand new home in Cape Coral in 1999 for $70,000. I still have the paperwork to prove it. The same house in my hometown of Massachusetts would have cost at least $180,000.

The place was cheap. Always has been.

I never said this was sanibel or captiva or palm beach, I agree with your assessment of what it was and is. I never said these homes that were going for $300k are going back there any time quick if ever, what I'm saying is they are not going to stay at 85k forever. even though jim cramer does agree with sw florida real estate investment, I was turned on to it before he mentioned it (maybe he's reading my posts)

I doubt he's reading your posts. Sometimes I wonder if he's reading anything. Stop listening to him. No kidding. Understand that even he says that he is an infotainer. His track record is not very good. Surely you remember Bear Stearns and Wachovia.

And I am not speaking directly to your Cape Coral investment. Didn't you say that you paid less than $50,000? And there is no drywall? Market it up there in New England as a great escape rental. You might get some bites.

[hiknapster]

Originally Posted by 121804

I was just talking to someone about this book yesterday.

Personally, I find the concept to be more damaging than valuable & why someone with the viewership like Oprah (hello...a RUN on KFC b/c she had coupons on her website?!?!?!?!) endorses such a concept always amazes me...but when you are close to the richest woman in the world, sometimes reality has a way of skipping a few brain cells. (And her circumstances, hard work, & some good luck made her rich, not "positive thinking").

"Positive thinking" isn't going to pay the mortgage or the cost of a new roof. It can mentally help a person get through the moment, but it is not going to magically write a check to Bank of America.

One thing that I will say though is that sometimes the mentality of the investor does indeed play a big role in the stock market. People get afraid, so they act on the emotion, and we have seeing that happen. Companies who are actually in a good financial situation but are laying off based on fear & worry.

But, just b/c something is cheap doesn't mean it is good. And many, many of the homes built in SWFL were built cheap, look cheap & in 5 years look 20 years old. It was a scam & many fell for it. Many still will. All based on an illusion of what is suppose to be & what they "deserve". Chinese drywall problems? Yeah, I want to take that risk to not have to shovel snow....stupid...

And some who got hit hard where doing the right thing all along, they just got pulled into the black hole that sucked in everyone in the area.

It's a depressing area & will continue to stay that way until the illusionists pick another part of the country to focus on & those who are their with the intent to provide back to the community & live a productive & healthy life withstand the crap that they are living with right now.

There are good people in that area who deserve something back...and tearing up half that place would probably be a great start along with a strong professional base....

This is a fabulous post on so many levels.

I gave up on Oprah a couple years back. It started with that ridiculous book she endorsed by the alleged drug addict. Just hearing about it I could tell it was bogus. She has lost touch.

I think "The Secret" is harmful, too. Nothing replaces research and more research along with real-world experience.

A lot of investment has more to do with feelings than worth, especially the big highs and lows. A couple of years ago, when I was one of the very few on this forum sounding like Chicken Little I had an uphill battle with the realtors, the home sellers and the Florida dreamers. Now it is ho-hum, because the national press is all over the area backing up what we say. Lee County may still be a very hard sell.

I'm with you. Bulldoze those junk homes. And the sad thing is, due to the climate, a home in southwest Florida starts to go to crap after 20 years anyway, especially if there were a lot of power outages. My mother-in-laws home is full of mold due to Charley. Most of them are.

But this Chinese drywall is out there in the glossy magazines. It's going to be hard to cover up.

My husband lived in that area since he was 12. He rode his bike through acres and acres of land that is now developed and abandoned. He put his boat into the estuary in Estero and didn't run into anyone all day. He swam with the alligators because they were still afraid of man.

I first visited in Florida in 1972 and moved there in 1996, so I've had a taste of what it was like before the ostentatious noveau-riche-wannabes clogged the road with their Hummers and Escalades. Maybe, just maybe, it will go back to what it was and the people left can live in peace.

[nhkev]

oh my god we agree on some more things, tear down the crap and oprah's full of herself. what else will we be in consensus with? back on the original thread will I get my money back? my answer was no. I was posting the charts as a potential of where "I" saw things going and "I" think at best median home price of 167k over the next few years no where near the 260k post paid for their home. but this is as negative as I will get. Not looking to market the home i'm looking to enjoy it. my parents live there from nov to may and I visit about 5 times a year. total cost of taxes, insurance , lawn care , pest control , electric run me less than 5k per year, my parents help me out with the expenses so it doesn't cost me anything to own Paid cash but it was 85k (I wish I had only paid 50k) but I am very happy with what I got for my money, in contrast my parents stay in the equivalent of a single wide mobile home in a campground in new hampshire during the summer and they pay 5k per year between camp fees and heat and electricity.

[hiknapster]

Originally Posted by nhkev

oh my god we agree on some more things, tear down the crap and oprah's full of herself. what else will we be in consensus with? back on the original thread will I get my money back? my answer was no. I was posting the charts as a potential of where "I" saw things going and "I" think at best median home price of 167k over the next few years no where near the 260k post paid for their home. but this is as negative as I will get. Not looking to market the home i'm looking to enjoy it. my parents live there from nov to may and I visit about 5 times a year. total cost of taxes, insurance , lawn care , pest control , electric run me less than 5k per year, my parents help me out with the expenses so it doesn't cost me anything to own Paid cash but it was 85k (I wish I had only paid 50k) but I am very happy with what I got for my money, in contrast my parents stay in the equivalent of a single wide mobile home in a campground in new hampshire during the summer and they pay 5k per year between camp fees and heat and electricity.

Well, don't panic. Your price is not bad, especially if you have a house without problems. Are they in the house or do they live elsewhere in Cape Coral?

Camp fees are high everywhere, and things cost more in New England but they are worth it! (This is a joke to make you laugh!)

[nhkev]

my parents are in my house, I own a gulf access property as well (just a lot) but it is in a nice neighborhood that I could easily see myself living in, my in laws own a house in naples and when they retire if they move down there it would be an easy sell for my wife to want to move down there as well. right now we're at the point where we are planning to go in july to see if we can take the heat and spend as much free time to evalute if it's a place we want to settle down. The winters here in the mountains are harsh and property taxes and heating bills are ridiculous for example property taxes $650 per month heat and electricity combined in dead of winter $800 snow plowing was running about $300 per month not even touching having a mortgage payment. so as you can see from my point of view sunny and inexpensive is looking good

[hiknapster]

I'm from Massachusetts. Lived there for 34 years. Lived in Florida for nine. Obviously I left. Couldn't get out fast enough. You might love it. Who knows.