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Old 01-22-2008, 09:03 PM
 
975 posts, read 3,731,602 times
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Did anyone see the TV news report (channel 8), claiming that foreign investors are buying up Tampa properties?
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Old 01-22-2008, 09:11 PM
 
975 posts, read 3,731,602 times
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well I just watched the actual segment (I started this topic based on a preview for the news story). They are talking about Brits buying high end beachfront property. I'm not sure this is going to affect the real estate situation for average homes. The people on the segment were all realtors.
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Old 01-22-2008, 09:33 PM
 
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The soft market is by no means over,we will soon see lots of bank owned property flooding the market at a reduced price, 2/1 framers for 25-40k in middle class areas, this will cause homes that have been on the market for some time with owners thinking their homes are still worth 140k not selling, its far from over,lots of foreclosures coming and banks have never been in the business of owning vacant houses, I think it will cause another boom though,lots of money will be out there to be made,its just going to take another year or two to flush out all the coming foreclosures/
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Old 01-22-2008, 09:56 PM
 
127 posts, read 427,531 times
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Quote:
Originally Posted by dvegarrett View Post
The soft market is by no means over,we will soon see lots of bank owned property flooding the market at a reduced price, 2/1 framers for 25-40k in middle class areas, this will cause homes that have been on the market for some time with owners thinking their homes are still worth 140k not selling, its far from over,lots of foreclosures coming and banks have never been in the business of owning vacant houses, I think it will cause another boom though,lots of money will be out there to be made,its just going to take another year or two to flush out all the coming foreclosures/
Uhh, yeah... please let me know exactly where I'll be able to pick up one of those 25K-40K "framers"
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Old 01-23-2008, 03:48 AM
 
27,214 posts, read 46,754,781 times
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It's true that a lot of foreigners are buying good properties. Not fixer uppers. Smart since the dollar is so low.
There will a lot more shortsales or foreclosures since the mortgage trouble is far from over. In any market there are always people making money and losing money.
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Old 01-23-2008, 04:09 AM
 
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They run stories like that to try and induce some sort of market psychology that makes you "believe" everything is OK?

But we all know the truth. Every economic indicator there is says, we are entering a depression not seen since the thirties.
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Old 01-23-2008, 04:54 AM
 
Location: FL 33774
367 posts, read 1,687,816 times
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I didn't see the article, pity, but it's right that foreign buyers are here picking up nice waterfront estates they could not afford before, but they are not going to help the real struggling real estate market, the single family homes of peope who really live here.
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Old 01-23-2008, 05:51 AM
 
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The article reference that the Euro is so strong right now that it is motivating European investors to buy over here....especially some of the luxury properties that they previously were not able to buy. Many of those buyers are looking at high end properties along the beaches.

One example they used is a buyer from England who decided that he would pay up to $1M for a beachfront property here. He ended up buying a property for $1.8M. I actually have a listing in Indian Shores for $5.9M. Out of the calls on the property 4 out of 5 are for European investors, primarily England, Scotland and Ireland.
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Old 01-23-2008, 06:05 AM
 
Location: FL 33774
367 posts, read 1,687,816 times
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I have mostly sold to British people here, it's definitely the time to sell to them, I'm amazed how many people contact me because I'm British, and think I can find a buyer for their home here. Wesleychapel is right though, it's only the high end or waterfront that they really want. I do have a Brit looking for a low priced business (pizza/catering) that might be for sale in Johns Pass/St Pete Beach or Clearwater beach if anyone knows of one.
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Old 01-23-2008, 07:25 AM
 
975 posts, read 3,731,602 times
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that was my impression as well--the only people they had speaking on the segment were local realtors

Quote:
Originally Posted by stpeteguy View Post
They run stories like that to try and induce some sort of market psychology that makes you "believe" everything is OK?

But we all know the truth. Every economic indicator there is says, we are entering a depression not seen since the thirties.
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