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Old 04-13-2021, 07:36 PM
 
14 posts, read 5,760 times
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In this market, how does any successful RE sales pro find time to be on the internet providing wisdom and community events
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Old 04-14-2021, 04:53 AM
 
Location: Venice, FL
12,116 posts, read 3,841,694 times
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Quote:
Originally Posted by nancoiner View Post
In this market, how does any successful RE sales pro find time to be on the internet providing wisdom and community events
I'm just grateful that she squeezes us all into her very busy schedule. I learned a lot from her most recent post, & happen to agree with her assessment...from my non-professional point of view.

I'm just glad we bought before all this madness began, and our home has appreciated by ~50% in 2.5 years.

I don't think the market will implode this time like it did in 2008. I think the appreciation will slow, then stop, then level off, but I don't see any reason for it to plummet in Florida. Florida will remain the #1 state others want to move to for decades to come.

Last edited by beach43ofus; 04-14-2021 at 05:03 AM..
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Old 04-14-2021, 06:33 AM
 
37 posts, read 45,833 times
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Couldn't agree more with the assessment of Sunshine - simple supply and demand economics will tell you this "boom" is far from over.
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Old 04-14-2021, 12:00 PM
 
Location: Venice, FL
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The fact that so many potential buyers are willing to enter a bidding buy scenario, speaks volumes. The demand to live in our area is sky high for so many reasons. This is not artificial like the last boom, but it has been turbo-charged by the pandemic, & low interest rates.

The U.S. is too far in debt to allow interest rates to rise, so a bubble is likely building for all other asset classes. If the Fed becomes unable to keep interest rates artifically low, and they rise, money will flow away from real estate, and back into interest bearing investments.

I just cannot predict what event could trigger the Fed's inability to manipulate interest rates, or how rapidly it will occur, but it will eventually occur.
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Old 04-14-2021, 04:08 PM
 
Location: Sarasota/ Bradenton - University Pkwy area
3,760 posts, read 5,529,966 times
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Quote:
Originally Posted by nancoiner View Post
In this market, how does any successful RE sales pro find time to be on the internet providing wisdom and community events
Hey Sheckie, we've had this conversation in the past, remember?


To refresh your memory........

90% of all home buyers use the Internet to search for their home.

For 42% of home buyers, the first step in the home-buying process was looking online for properties.

The share of home buyers who used the internet at some point in their search for a home increased to an all-time high of 97%.

89% of home shoppers used the internet to search for a real estate agent.

Which explains why 91% of all REALTORSĀ® are out here on the Internet, using social media, blogging, etc.
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Old 04-14-2021, 04:24 PM
 
Location: Sarasota/ Bradenton - University Pkwy area
3,760 posts, read 5,529,966 times
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Originally Posted by MOforthewin View Post
Also, just how many houses in FL, especially the major cities are owned by land lords in other countries?

I read something about a year ago and cities like Orlando, Miami, New York, San Fran, and I think Dallas had a lot of property owned by Chinese firms. No wonder why they jack the rent up.

There are also many hedge funds & REITs (real estate investment trusts) that started buying up homes over 10 years ago and still buying them now in solid numbers. Yes, even in this market.

The Wall Street Journal published an interesting article a few months ago about these corporate investors selling off their Manhattan holdings and moving the money to Florida real estate.

If there was a drop in prices, these hedge funds and REITs would probably come in at some point to put a floor on the prices by buying in order to protect their investments.

So contrary to what some are saying, "Big Money" is still very much in the game.
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Old 04-16-2021, 12:34 PM
 
44 posts, read 30,314 times
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Originally Posted by FL dreaming View Post
I have lost out on my last two attempted property purchases in Venice due to bidding wars.
The prices have increased 25% in the last six months for resales in my neighborhood in Venice, with no letup in sight. A house sold for 720k in Feb, flipped at 799k in one day in March; same model just listed for 865k today. We will see how long it is on the market before it sells.
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Old 04-19-2021, 11:49 AM
 
37 posts, read 45,833 times
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I know a guy who bought at The Lake Club in Lakewood Ranch in early February with base price just below $800K. In the last 9 weeks there have been price increases on 4 separate occasions totaling $130K!! They have limited sales to 2 per salesperson per month so they don't sell out the community too quickly.

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Old 04-22-2021, 04:32 AM
 
44 posts, read 30,314 times
Reputation: 76
Quote:
Originally Posted by Hbcapital View Post
The prices have increased 25% in the last six months for resales in my neighborhood in Venice, with no letup in sight. A house sold for 720k in Feb, flipped at 799k in one day in March; same model just listed for 865k today. We will see how long it is on the market before it sells.
House listed for 865k lasted 5 days before pending offer. By the way, the one day flip in March, listed at 799k, sold for 820k.
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Old 04-23-2021, 09:07 PM
 
1,857 posts, read 1,279,215 times
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Quote:
Originally Posted by Sunshine Rules View Post
There are also many hedge funds & REITs (real estate investment trusts) that started buying up homes over 10 years ago and still buying them now in solid numbers. Yes, even in this market.

The Wall Street Journal published an interesting article a few months ago about these corporate investors selling off their Manhattan holdings and moving the money to Florida real estate.

If there was a drop in prices, these hedge funds and REITs would probably come in at some point to put a floor on the prices by buying in order to protect their investments.

So contrary to what some are saying, "Big Money" is still very much in the game.

I posted this in the Tampa thread about this and I hate quoting the liberals at TYT, but they did another video on the housing market and basically explained it just like you did in your post.


Investors and large investment firms are buying up property across the country like crazy. Especially bad in places like Miami.


That would explain why some houses are being flipped so quickly, put back on the market within days and flipped again. These firms are pros at this.


This also explains why you see lots of rental properties in this part of the state. In my area the last 3 or so years I've seen a lot of houses for rent.


Like across the street from me. New house was built. It sat vacant for about 4 months with a for rent sign on it and someone rented it for a couple years. They moved out. House sat vacant for about 4 or so months and then someone new moved in. I believe they bought it from whoever owned it.



Something has been going on the last few years with that with all the rental homes suddenly popping up. a lot more rental homes than homes for sale.


As this video shows these investment firms can swoop in and outbid everyone and pay upfront and quickly close. As Cenk puts it they then turn around and rent out the homes.


I think these liberals are onto something here with the rent. As I said the last couple years I've suddenly noticed a lot more houses for rent.




https://www.youtube.com/watch?v=yrm7Hun-o3k
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