S. Florida house market takes a plunge! - GoFuckYourself.com - Adult Webmaster Forum

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Forest

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#1

S. Florida house market takes a plunge!

07-26-2006, 06:51 AM

http://www.sun-sentinel.com/news/loc...home-headlines

"The market's done a complete 180-degree reversal," said Jack McCabe, a Deerfield Beach housing consultant. "It's a stare-down between buyers and sellers, and as time passes, the pressure's on the seller, not the buyer."

Sales fell by 34 percent last month compared with June 2005, the Florida Association of Realtors said Tuesday. It was the 24th consecutive month of declining sales in Broward.

Glad I didnt buy last december when I was looking. Looks like some decent deals are comming on the market in the next 6-12 months
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Tdog

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#2

07-26-2006, 06:53 AM

I would wait about 2 years, then you will see rock bottom prices.

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#3

07-26-2006, 07:03 AM

I bought at the peek (cause I needed a house)

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#4

07-26-2006, 07:05 AM

yeah nothing lasts forever

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#5

07-26-2006, 07:07 AM

Good news!!! I got my eye on sweet new house here in S.Florida, but need the market to drop another 20% or so to afford it...

Though sorry for those that already own here...

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Forest

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#6

07-26-2006, 07:07 AM

Originally posted by Tdog

I would wait about 2 years, then you will see rock bottom prices.

well that really depends on how the economy does I would think

Ill be back in the market beginning of next year

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#7

07-26-2006, 07:10 AM

The real estate markets are insane in most of the biggest cities. The average person has been priced out of the market.

You simply reach a point where the price of housing is so out of synch with the population's income and affordability factors, that the buyer base literally evaporates and you end up with panic selling as property investors try to get out with anything they can.

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#8

07-26-2006, 07:11 AM

wait for the next tropic storm
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BLish

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#9

07-26-2006, 07:12 AM

prices are really going to bottom out as over $2 trillion.. that's with a "T" are about to reset their ARMs (Adjustable Rate Mortgages). you are about to see home foreclosures left and right... and that too will help to decrease home values. looks like i'll be getting that larger house that i wanted sooner than i had hoped!

oh.. and in South Florida, property values have already fallen at least 15% in some areas and as much as 20% in others. and that once white hot condo market?.... well... it's gone kaplooie!
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#10

07-26-2006, 07:14 AM

Friend of mine just picked up a property listed for $500K for only $325K. That pretty much shows the reality of the market.

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#11

07-26-2006, 08:19 AM

Originally posted by KRL

Friend of mine just picked up a property listed for $500K for only $325K. That pretty much shows the reality of the market.

Nice

im looking in the 200k-250k range

Hoping to pick up somthing for under 200k in the next year
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#12

07-26-2006, 08:20 AM

winder what our market is going to do

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#13

07-26-2006, 08:31 AM

Sweet, I was thinking of moving back to Palm Beach Co.
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#14

07-26-2006, 08:35 AM

good I would like to get a house soon

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#15

07-26-2006, 08:38 AM

Originally posted by KRL

The real estate markets are insane in most of the biggest cities. The average person has been priced out of the market.

You simply reach a point where the price of housing is so out of synch with the population's income and affordability factors, that the buyer base literally evaporates and you end up with panic selling as property investors try to get out with anything they can.

exactly correct.
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#16

07-26-2006, 08:38 AM

Glad I didnt buy last december when I was looking. Looks like some decent deals are comming on the market in the next 6-12 months

what I am thinking/hoping

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#17

07-26-2006, 08:39 AM

Man I hope that my friend dumped the einvestment condo that he got.

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#18

07-26-2006, 08:39 AM

Now is the time to buy... I don't have anything in FL. My friend just sold a house in Cape Coral last mth. He's holding a water lot right now. I thought about picking up something in FL, decided against it. I'm about to close on a condo in my area (investment)

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#19

07-26-2006, 09:00 AM

give it a while longer and jump in and buy em up.
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#20

07-26-2006, 09:17 AM

Originally posted by Sosa

give it a while longer and jump in and buy em up.

Unless incomes go up dramatically, overbuilding stops and interest rates come down, which isn't happening anytime soon, the RE market is going to stay in a depressed state or extremely marginal growth posture for many years.

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#21

07-26-2006, 09:46 AM

Originally posted by Tdog

I would wait about 2 years, then you will see rock bottom prices.

I agree

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#22

07-26-2006, 09:50 AM

I've noticed it seems the only thing that's selling here in the Daytona area is condo conversions. The house market seems to be dead.

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#23

07-26-2006, 09:54 AM

Come to California. All is well here!

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#24

07-26-2006, 09:59 AM

I'm excited, there's a home here listed for 420, that 3 years ago sold for 270, If it reaches what levels it should I'll pick it up when it hits 300 or so.
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#25

07-26-2006, 10:04 AM

not god news for us people selling our houses
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#26

07-26-2006, 10:23 AM

anyone every look into modular homes? not mobile homes.. but modular. basically prefab homes, built on an assembly line like mobile homes, but brought on flat beds in pieces and put on a solid foundation.

PalmHarbor Homes has some beautiful ones... and the building codes on these are unbelievable... especially for florida homes. you got a better chance of surviving in one of these in a hurricane than a site built home!
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#27

07-26-2006, 10:28 AM

f'n double post. my bad.
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#28

07-26-2006, 10:43 AM

Originally posted by BLish

anyone every look into modular homes? not mobile homes.. but modular. basically prefab homes, built on an assembly line like mobile homes, but brought on flat beds in pieces and put on a solid foundation.

PalmHarbor Homes has some beautiful ones... and the building codes on these are unbelievable... especially for florida homes. you got a better chance of surviving in one of these in a hurricane than a site built home!

to be honest living down here I would really prefer a CBS home to a mod

Just would feel safer durring a storm
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#29

07-26-2006, 10:45 AM

gee I hope this happens in the Toronto market!!! I'm dying to buy a house in the next year!!

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#30

07-26-2006, 11:49 AM

Guess I'll be staying here a while... BTW Forest hit me up need to talk to you!

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