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Old 03-23-2011, 11:42 AM
 
22 posts, read 43,069 times
Reputation: 21

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lol, don't be misguided by the media and society who got the housing market into trouble in the first place.

It is the best time to buy, period. In nice neighborhoods, you can find $400k homes for $150k
You can find Million dollar homes for $300-400k

As for bad areas, no such thing, you are unsafe anywhere in South Florida, and most of the cops actually live in the "so called" bad neighborhoods.

There has not been not one incident in all my properties.
In the hoods, the young gangsters kill each other, just as the drug dealers kill each other, and unless you go around flashing a thick gold chain, or brand new rims on your ride, you are unlikely to get robbed.

Aside from the nonsense.

If it is a great time to make an investment that will be profitable, what makes you think it is not the best time to invest for your family.

Stay away from the politics of the situation, just go look for the home of your dreams, and learn more about it, I'm sure you will be more than tempted
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Old 03-23-2011, 12:55 PM
 
2,217 posts, read 4,258,200 times
Reputation: 553
wise prudent decisions didnt get us into this mess. its people like you who did.
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Old 03-23-2011, 04:28 PM
 
Location: Heartland Florida
9,324 posts, read 26,698,246 times
Reputation: 5038
Rents are way too high relative to incomes in dade county. I have seen investors buy and rent every vacant home in the last few months but people are still losing their jobs. Once hyperinflation hits interest rates will skyrocket and another real estate crash will sweep the investors in the storm drain. Another financial collapse is on the way, so if you want to buy a home make sure it is cheap cash sale or a super low fixed rate.
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Old 03-23-2011, 05:47 PM
 
Location: Atlanta,GA
2,685 posts, read 6,412,070 times
Reputation: 1232
Quote:
Originally Posted by Resident037 View Post
lol, don't be misguided by the media and society who got the housing market into trouble in the first place.
Hmm...While you're right in some instances, you seem to be hyping things up quite a bit on your end.

Quote:
Originally Posted by Resident037
It is the best time to buy, period. In nice neighborhoods, you can find $400k homes for $150k
You can find Million dollar homes for $300-400k
Well, point him/her out to these areas you speak of.

Quote:
Originally Posted by Resident037
As for bad areas, no such thing, you are unsafe anywhere in South Florida, and most of the cops actually live in the "so called" bad neighborhoods.
Hmm ..while what you say in theory is correct, there is such a thing as bad areas. I don't think people want to pay good money in Liberty City to enjoy the views of the Pork n' Beans projects (where dudes are playing ceelo at the "country club" around the corner, sipping on Old English Malt Liquor), when they can enjoy SW Broward, or other South Florida neighborhoods for some calm and decent living. Let's be real. Do you live in the same neighborhoods you rent your properties out for $900/month? Just saying....

Quote:
Originally Posted by Resident037
There has not been not one incident in all my properties.
In the hoods, the young gangsters kill each other, just as the drug dealers kill each other, and unless you go around flashing a thick gold chain, or brand new rims on your ride, you are unlikely to get robbed.
Lucky you. And yes, you are right. Thugs usually kill thugs, but sometimes innocent, decent, hard working people get caught in the crossfire. We cant minimize that either. So people who can afford better, get better.

Quote:
Originally Posted by Resident037
Aside from the nonsense.

If it is a great time to make an investment that will be profitable, what makes you think it is not the best time to invest for your family.
You have a point. Maybe he/she may not be in a position yet to get what he/she wants. I dont know their status. And it may be a while for people to recoup what they put in a house these days (if for investment purposes). Many need repairs, and the values are not going up. It won't be an overnight thing like we had a few years ago.

Quote:
Originally Posted by Resident037
Stay away from the politics of the situation, just go look for the home of your dreams, and learn more about it, I'm sure you will be more than tempted
You're right. If he/she can afford it, now is not a bad time to get a house. (Providing he/she has great credit, little or no debt a good down payment, a stable profession/job or business, and savings to weather the storm). That's a small segment of the population, especially in a place like South Florida, where many are trying to get by. I still look at prices as a bit elevated. I see short sales priced low enough to get interested buyers. Those are seemingly the only ones getting traffic these days. And the time it takes to get approved discourages many, not to mention the fact that people are competing for the same house which drives up the price.

I still see 4/3 in SW Broward priced at low $300k price, which we know are:

1. Still too high.
2. Many people won't qualify for loans for them (jobless/debt/bad credit/unstable market).

Quote:
Originally Posted by cixcell View Post
wise prudent decisions didnt get us into this mess. its people like you who did.
To a certain extent, you're right. People (Speculators, Realtor, Investor, and Loan Officers) were literally screaming buy, buy, buy and the crowd went crazy!! (They need to accept blame as well. No one put a gun to their heads) During that time, I sold, sold, sold what I had and rented from my folks. I saw it coming. I'm glad my gut reaction was right. I'm no Wall Street banker, but I saw the **** about to hit the fan on time. People could not possibly believe house prices would continue to appreciate like they did.

And once information hits the street, it's already old news.
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Old 03-23-2011, 06:02 PM
 
49 posts, read 82,031 times
Reputation: 36
[size=150]Property Taxes Reach the Breaking Point[/size]

Local governments are raising property taxes to plug budget gaps as home values fall—and voters are getting sick of it

Quote:
It really costs to own a home these days. Not only have home values fallen, leaving nearly one-quarter of residential mortgages under water, but also, local governments around the country have increased property taxes to make up for declining revenue from other sources. ... The Tax Foundation, a Washington (D.C.) research organization that advocates for lower taxes, estimates that 3.5 percent of household income went to property taxes in 2009, compared with 2.9 percent in 2005. The median property taxes paid on homes increased to $1,917 in 2009 from $1,614 in 2005.

How much is too much? In Miami-Dade County, taxpayers have had enough. Angered by a property tax hike amid plunging real estate values, as well as a pay raise to county employees and a new $600 million stadium for the Florida Marlins, 88 percent of 204,500 people voted to oust Mayor Carlos Alvarez in a recall election on Mar. 15.

Miami-Dade residents pay the most property tax in Florida: a median $2,600 per year, according to the Tax Foundation, citing the average median real estate taxes paid annually from 2005 to 2009 in U.S. Census Bureau reports. Last year, Mayor Alvarez pushed for a 14 percent property tax rate increase to help fill a $444 million budget hole.

"It's not proper to increase taxes by $178 million [in] this community—while over 50 percent or close to 50 percent of [homeowners] here owe more money than their homes are worth," Norman Braman, the billionaire car dealer who led the recall effort, told reporters.
BusinessWeek
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Old 03-23-2011, 08:04 PM
 
2,217 posts, read 4,258,200 times
Reputation: 553
Quote:
Originally Posted by tallrick View Post
Rents are way too high
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Old 03-23-2011, 09:50 PM
 
Location: Lovely swampy humid Miami!
1,978 posts, read 4,396,998 times
Reputation: 1065
Who is that guy? He looks like he could be a time-traveling riverboat captain!
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Old 03-24-2011, 11:25 AM
 
Location: Heartland Florida
9,324 posts, read 26,698,246 times
Reputation: 5038
The "rent is too damn high" candidate. Rent Is Too Damn High Party - Wikipedia, the free encyclopedia
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Old 03-25-2011, 02:28 PM
 
Location: Lovely swampy humid Miami!
1,978 posts, read 4,396,998 times
Reputation: 1065
Too bad he's not omnipresent! We could use him here in San Diego too! The world needs a few more heros!
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