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Old 11-14-2018, 07:43 AM
 
Location: Orlando, FL
617 posts, read 832,564 times
Reputation: 555

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Quote:
Originally Posted by boy3365 View Post
I get what Kyle is saying, but I'd agree with bmw. If you can afford what is available now, then buy. But don't rush into buying something because you feel like you should buy a house. I feel those were the people profiled on all the news segments about foreclosures in 2008-2011.
Agreed. 2012 - 2015 was the time when you should buy a house. Now, only buy if you need to or if you feel you will stay in the area a long time and cyclical fluctuations in the market won't bother you.
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Old 11-14-2018, 01:35 PM
 
18 posts, read 18,367 times
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Thanks everyone for the thoughts so far. We are likely going to rent for a time because the houses we like keep selling very quickly and I hate rushing into buying a home in an area we are unfamiliar with and paying peak market prices. The hard part is whether we should find a place more suitable for a short term rental (high priced corporate apartments, etc) or plan on leasing for a year (or more) and hoping pricces soften in that time. We bought a home in 2012 in TX but have had 0 appreciation here unfortunately! We should have moved to FL in 2012 I guess
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Old 11-14-2018, 01:49 PM
 
66 posts, read 78,837 times
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Default Buy vs Lease

Was that purchase in 2012' by any chance in Houston?
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Old 11-14-2018, 02:26 PM
 
18 posts, read 18,367 times
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Quote:
Originally Posted by lamigra001 View Post
Was that purchase in 2012' by any chance in Houston?
I wish - they've had great appreciation since '12. That being said I'm not a fan of Houston and thankful to not be living there!
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Old 11-14-2018, 08:17 PM
 
66 posts, read 78,837 times
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Thumbs up Buy vs Lease

Yeah, I almost went the opposite way. It seems there are mostly two story SFH in Houston, and the taxes are ridiculous if you want to be in a good school district.
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Old 11-14-2018, 09:49 PM
 
24,404 posts, read 26,946,756 times
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That's why for primary home, I wouldn't try timing the market as long as it's a house you like and can afford. For example, the crash happened toward the end of 2008, but prices didn't really bottom out until 2011-2013 in most places around the country... that's a long time and the next time it happens isn't going to be identical, so who knows how long or short it will take for home prices to bottom and stabilize. The economy right now is very strong, so we are most likely talking a very long time before we see a BOTTOM in the next housing crash. We haven't even seen the start of an economic crash. That's a lot of years to pay rent and risk continuing rent increases. In many "hot" markets around the country, it's simply too late to even think about purchasing a home for the average family. There are still "affordable" options around Orlando right now.
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Old 12-06-2018, 08:47 AM
 
5,544 posts, read 8,314,247 times
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Default any good experiences with property management company

Question

My house is not moving on the sales market and I am considering using it as a rental with a property management company. Timing has not been my friend.

If anyone has any experience with renting out their house and having it managed can you PM me? I may have to go that way in the end.

thanks
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Old 12-06-2018, 01:52 PM
 
490 posts, read 518,188 times
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Things have slowed because of interest rates but I see home prices continuing to rise as more boomers retire. Florida will eventually become like California in that regard. Buy now.
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Old 12-06-2018, 02:08 PM
 
24,404 posts, read 26,946,756 times
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Quote:
Originally Posted by theoldnorthstate View Post
Question

My house is not moving on the sales market and I am considering using it as a rental with a property management company. Timing has not been my friend.

If anyone has any experience with renting out their house and having it managed can you PM me? I may have to go that way in the end.

thanks

The market in December is probably the slowest out of the entire year. It will improve slightly after New Years, but doesn't get strong until Spring.

What price is your home? Higher priced homes have slowed down a lot because of higher interest rates and lots of new builds in that price range. Lower priced homes are still selling pretty well, but also depends on the area.

Is your realtor doing a good job? Professional photos? Staging advice? Availability? I've come across so many agents who turn their phone off after 5pm and on the weekends. It's ridiculous.

It could be your realtor is bad. It could be your price is too high. It could be the demand for your house and location is low. It could be bad luck. It be a combination of the above.

If you want to rent your home and have a property manager to handle your property, I'd recommend "Verandah Properties."
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Old 12-09-2018, 10:25 AM
 
Location: Southern Florida
21 posts, read 20,411 times
Reputation: 33
If you are asking this question because you are considering buying in Orlando now (vs. later), I would suggest not to time the market. In the long run, real estate is a great investment and even experts disagree about when the market will take a turn. Orlando, in particular, continues to be one of the most attractive cities, not only for Floridians and out of state buyers, but also for foreign investors, many of whom pay in cash. If you can find adequate employment in Orlando and you are considering buying a home there, think long term and look for areas within the city that are desirable and within your budget.
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