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Old 07-05-2018, 08:47 PM
 
Location: Atlanta
330 posts, read 1,083,330 times
Reputation: 258

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Pretty shocked at how quickly the real estate prices have risen in this area. Seems like anything decent is over $200K now. Of course I have to say it, I should have bought a few years ago!!!!
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Old 07-05-2018, 09:04 PM
 
Location: Kansas City, MISSOURI
20,794 posts, read 9,440,104 times
Reputation: 15523
I would not be in the least bit surprised if Florida prices eventually became as expensive as California. Could you imagine how expensive Florida could get if there were another 10 million people there?
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Old 07-06-2018, 12:30 AM
 
Location: Tampa (by way of Omaha)
14,561 posts, read 23,014,538 times
Reputation: 10356
I wouldn't be surprised to see the real estate bubble burst again within the next couple years.
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Old 07-06-2018, 08:07 AM
 
17,504 posts, read 38,989,711 times
Reputation: 24196
Quote:
Originally Posted by McBain II View Post
I wouldn't be surprised to see the real estate bubble burst again within the next couple years.
That won't happen. They just aren't handing out mortgages to anyone with a pulse anymore. There are plenty of people from NY and California and other parts of the world buying here which drive the prices up. The gap is actually starting to close between here and California in some areas.

I remember a few years ago during the crash SO MANY PEOPLE kept on saying "don't buy, just rent" because prices would drop more. Well, they didn't and they started to rebound rapidly, with rents going through the roof. No one can find an affordable decent rental anymore because there isn't much money to be made on them.

I am no realtor, don't have anything to sell, staying in my little house we bought in Sarasota in 2008 a couple years before the crash, but my advice is if anyone wants to buy a home, there probably is not much to be gained in waiting for prices to come down. Prices in Sarasota and St. Pete have SKYROCKETED since 2012 with no end in sight.......
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Old 07-06-2018, 09:41 AM
 
4,295 posts, read 2,749,850 times
Reputation: 6220
I am surprised, too, especially given the high crime rate (Tampa, St. Pete, etc.). I don't get it. I ended up here because I have family here, but I think quality of life here leaves much to be desired.
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Old 07-06-2018, 09:43 AM
 
4,295 posts, read 2,749,850 times
Reputation: 6220
I agree with gypsychic. There is no reason to think the bubble will crash or that prices will come down any time soon. They will continue to skyrocket in this area.
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Old 07-06-2018, 09:43 AM
 
Location: -"`-._,-'"`-._, ☀ Sunny Florida ☀ ,-"`-._,-'"`-.
1,357 posts, read 1,230,584 times
Reputation: 1324
Quote:
Originally Posted by McBain II View Post
I wouldn't be surprised to see the real estate bubble burst again within the next couple years.
Based on what?
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Old 07-06-2018, 09:48 AM
 
16,376 posts, read 22,431,011 times
Reputation: 14397
Quote:
Originally Posted by bobandsherry View Post
Based on what?

Higher interest rates. Inflation. Trade war.
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Old 07-06-2018, 09:56 AM
 
2,170 posts, read 1,942,563 times
Reputation: 3839
I know people who purchased their vacation condo in that area a few years ago. In 2007 it was like $250k and they couldn't afford it.. after the bubble burst I think they got the exact one they wanted for like $95k and now its back up at that $250k range. Great purchase on their part
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Old 07-06-2018, 10:00 AM
 
Location: Sandy beaches...
471 posts, read 544,617 times
Reputation: 967
What a difference in 6 yrs it has been. When we moved here, we bought an abandoned foreclosed house and there were 5-6 houses in the neighborhood in the same condition. Now there's barely anything for sale around because of the proximity to decent schools. One house came up for sale couple weeks ago that I thought was rather expensive and it was snapped up within couple days.
While it's good to have a house appreciate in value, I'm not too keen to see this area getting way more expensive to live in and become anything like California or other high home price areas we've fled from. So much for an undiscovered gem.
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