Orlando housing prices now down below $100,000, cheapest in 12 yrs

[JohnVosilla]

Originally Posted by MiamiRob

A family member of mine left Miami for Orlando in 2005 with the proceeds of the sale of former house. He bought a house the following year and grossly overpaid for it in my opinion but his realtor & appraiser said it would appraise. As of now his home is worth half of what he paid for it so he is upside down and has no chance of refinancing. It's amazing how bad the market is in Orlando to the point where one could lose half the value of a house in such a short period of time.

The drop in most of the Orlando market seemed to occur from mid 2007 to early 2009. It was stunning how fast it happened. SW Florida started dropping much sooner and prices bottomed several quarters earlier too.

[Parrotrosie]

Originally Posted by g0gat0rs

It's just so sad that a handful of people made off with billions orchestrating this economic crisis.

Be careful when you say they 'orchestrated' the crisis. While I won't disagree with you that they made it easy for folks to get loans they didn't qualify for under the old terms, and really truly could not afford or understand, it is IMPERATIVE that we, as individuals take PERSONAL responsibility for our own shortfalls. "they told me I could afford it" or "they told me I qualified" , or "well I didn't understand about the balloon payment or how the rates adjusted" just don't cut any mustard with me. It is our job, our responsibility TO understand it.

Yes, I agree with you that there were greedy folks making tons of money off the backs of the middle class and the poor. Why are they never held accountable ? (Mr Barney Frank? Mr Clinton, Mr Bush Jr... just because monorities down own homes in the percentages you would like them to, don't entice them into home ownership with sweet deals!!! - Ownership is not a basic human right....Shelter is...not ownership)

Homes were so inflated in Florida in the mid 2000's and it is unlikely they will see those prices for a long time again. Compared to the rest of the country, the prices were crazy. Not all homes lost fifty percent equity...it was the market between like 250k and 500k (in today's value). Below and above did not lose as much, but are still down sharply as well. I purchased a home last year in this price bracket.


Proverbs 10:22 says

The blessing of the Lord brings wealth,
and he adds no trouble to it.

Some versions state 'trouble' as 'sorrow'. So, when you are looking at those payments, and you just 'have to have' that (fill in the blank)...is that payment going to bring stress, trouble, sorrow??? Take back responsibility...get debt free! If you have debt, you are a slave to those payments...break those bonds!!! Get smart with your money and plan for your future!!!

[sp2007]

We bought our home in 2002, for decent price(~$125,000), well before the Bubble started up in force. We tried for 18 months to sell our house, lowering the price by $75,000 before we pulled it for not selling and made it a rental. Now when I talk to realtors they say that I cannot sell it for what I paid for it 8 years ago.

What a waste. Wish I never bought it.

[g0gat0rs]

Originally Posted by Parrotrosie

Be careful when you say they 'orchestrated' the crisis. While I won't disagree with you that they made it easy for folks to get loans they didn't qualify for under the old terms, and really truly could not afford or understand, it is IMPERATIVE that we, as individuals take PERSONAL responsibility for our own shortfalls. "they told me I could afford it" or "they told me I qualified" , or "well I didn't understand about the balloon payment or how the rates adjusted" just don't cut any mustard with me. It is our job, our responsibility TO understand it.

Yes, I agree with you that there were greedy folks making tons of money off the backs of the middle class and the poor. Why are they never held accountable ? (Mr Barney Frank? Mr Clinton, Mr Bush Jr... just because monorities down own homes in the percentages you would like them to, don't entice them into home ownership with sweet deals!!! - Ownership is not a basic human right....Shelter is...not ownership)

Homes were so inflated in Florida in the mid 2000's and it is unlikely they will see those prices for a long time again. Compared to the rest of the country, the prices were crazy. Not all homes lost fifty percent equity...it was the market between like 250k and 500k (in today's value). Below and above did not lose as much, but are still down sharply as well. I purchased a home last year in this price bracket.

And why do you think that the banks made it so easy for ppl to get loans? There's a far bigger picture that most people are too ignorant or lazy to see.

The easiest way to make off with billions is make it legit. What you call a war against terrorism, I call making weapons makers and a few selected contractors getting wealthy. Do you know what a no bid contract is?

Do you know that while the crude oil price jumped to record numbers that we were actually getting it for the same price as before? Those who set that number over-calculated the demand for oil purposely to justify the rise in cost.

What you see as a downhill in the economy from the housing market and people's irresponsibility, I call a calculated manuever by bank fatheads to bet against themselves and make off with billions. Afterall, do you really think those Harvard Yale grads at Goldman Sachs and boa didn't think about irresponsible, poor people with bad credit getting loans all of a sudden and it's impact on the economy in the near future?

They knew.

[StreetSmarts]

Originally Posted by sp2007

We bought our home in 2002, for decent price(~$125,000), well before the Bubble started up in force. We tried for 18 months to sell our house, lowering the price by $75,000 before we pulled it for not selling and made it a rental. Now when I talk to realtors they say that I cannot sell it for what I paid for it 8 years ago.

What a waste. Wish I never bought it.

Oh trust me, I know the feeling.

[Parrotrosie]

Originally Posted by g0gat0rs

And why do you think that the banks made it so easy for ppl to get loans? There's a far bigger picture that most people are too ignorant or lazy to see.

The easiest way to make off with billions is make it legit. What you call a war against terrorism, I call making weapons makers and a few selected contractors getting wealthy. Do you know what a no bid contract is?

Do you know that while the crude oil price jumped to record numbers that we were actually getting it for the same price as before? Those who set that number over-calculated the demand for oil purposely to justify the rise in cost.

What you see as a downhill in the economy from the housing market and people's irresponsibility, I call a calculated manuever by bank fatheads to bet against themselves and make off with billions. Afterall, do you really think those Harvard Yale grads at Goldman Sachs and boa didn't think about irresponsible, poor people with bad credit getting loans all of a sudden and it's impact on the economy in the near future?

They knew.

So, are you saying individuals hold no liability here? Because I say they do. If there is no demand, there is no fathead cow to gain on it. I also said I didn't disagree with you on most of that however, we ALLOWED ourselves to be taken advantage of....SHAME ON US! Put on those boot straps, pull em up, and stop whining!