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Posted: 3/14/2017 10:07:24 AM EDT
I'm in Tampa Bay. The market looks like 2008 again. High rise condos and apartments are going up all over the place and appear to be at no more than 30% occupancy. Driving down the Bayshores and Gulf blvds from Clearwater to Sarasota it seems like every fourth house is for sale. I suspect people are starting to cash out before the market adjusts. Real estate agents are optimistic, saying that the average time on the market is 3 months. I think that for real estate, Winter is coming. I'm going to continue to rent.
Link Posted: 3/14/2017 2:36:44 PM EDT
Market in my area is level, good amount of high rises going up, lots of new communities going in as well. My house has gone up about 15% in three years since I purchased it.
Link Posted: 3/14/2017 2:59:19 PM EDT
St. Pete is going crazy, at least the single home flippers are.
If they do not bulldoze the property they are sinking tens of thousands in renovation.
Link Posted: 3/15/2017 3:39:10 PM EDT
I live in a quiet suburban/rural area in central Florida. Real estate prices are climbing steadily and most homes are sold or have pending offers within days or weeks of hitting the market.
Link Posted: 3/15/2017 5:59:56 PM EDT
West palm to Miami SUCKS. Unless you got $. I was shopping until December & decided to rent. I'm priced out. Best I can hope for is a crash & then buy. If your looking to buy a home now you missed the boat.
Link Posted: 3/16/2017 3:55:19 PM EDT
I don't think I did. I'm a potential cash buyer waiting for the market to adjust itself as I'd rather pay less when people have shitty credit and interest rates are high.
Link Posted: 3/16/2017 6:03:59 PM EDT
I'm West of Orlando. Bought a bank owned property last year for a good bit under market value. Talking to my neighbors, none of them can sell because they are still underwater on their loans. Couple houses for sale in my neighborhood, but they've been sitting empty for months.
Link Posted: 3/17/2017 10:20:40 AM EDT
Melbourne Beachside market is as hot as I've ever seen. Most homes are sold in less then a week. My son is currently looking, and has lost out on several homes he offered full price on.
Link Posted: 3/17/2017 10:40:01 AM EDT
I am in North Port and they can't build them fast enough here. My neighbor sold his house in just days. I purchased my home in 2013 and its value is 50% over what I paid for it that short time ago. Its crazy here in NP.
Link Posted: 3/17/2017 2:11:22 PM EDT
I'll add that I've flown over Ft. Myers, Cape Coral for years. Four years ago there were huge swaths of prepped land with roads and cul-de-sacs that went for miles that sat for years with no homes on them. They're now developed. I believe that home sales are far outpacing migration to Florida and suspect that we may be in a bubble again.
Link Posted: 3/17/2017 2:45:35 PM EDT
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By a555:
I'll add that I've flown over Ft. Myers, Cape Coral for years. Four years ago there were huge swaths of prepped land with roads and cul-de-sacs that went for miles that sat for years with no homes on them. They're now developed. I believe that home sales are far outpacing migration to Florida and suspect that we may be in a bubble again.
View Quote
Those developments are slowing down overall. I'm in the construction profession and alot of trades/suppliers I talk to say they have become steady to slightly slow rather than not enough hours in the day. This is for new construction, remodeling is quite busy. I'm estimating about 12 jobs and have 4 ready to start within the next 30 days. Out of the 12, we figure we'll end up with 5-7 of them. They range from 2 bathrooms to 2,500 S.F. complete gut outs.........
Link Posted: 3/18/2017 3:28:22 PM EDT
In Gainesville houses are going under contract within days. Prices are high a people are in bidding wars to buy houses.
Link Posted: 3/18/2017 7:00:54 PM EDT
[Last Edit: 3/18/2017 7:03:18 PM EDT by jBoy723]
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Gilly:
I live in a quiet suburban/rural area in central Florida. Real estate prices are climbing steadily and most homes are sold or have pending offers within days or weeks of hitting the market.
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That seems to bNot sure about prices steadily climbing but, the latter seems to be the case here in JAX as well. At least on my side of town(Intracoastal West). I personally haven't been in touch with what the market is doing but, my sister has been trying to buy a house over the last 6 months and whenever they finally get to something that fits their needs, an offer is made literally within a week or two from when they looked at it.


ETA: and on the new construction side, I see quite a few new developments popping up constantly as well.
Link Posted: 3/19/2017 12:13:43 PM EDT
A fair amount of new construction is taking place in SE ad SW Lakeland. I do not
see the same fervor as 2008 though. The supply dried up and this seems to go along
with normal growth.
Link Posted: 3/19/2017 5:12:03 PM EDT
I got my second home in FL at the end of the burst bubble two years ago. I have noticed prices climb and available homes dry up in my area. I'm in Citrus county between Inverness and Brooksville. It's my observation that the bubble this time is not caused by the economy on the rise....because it hasn't been. The winters of 2013 & 2014 were absolutely brutal in the northeast and I believe that drove many down south. Most that were on the fence were kicked off by the brutal and long winters. The housing rush of the last two years was mostly in warm weather states. Most other states remained flat.
Link Posted: 3/19/2017 6:35:39 PM EDT
My place in Clearwater right off Tampa bay has gained 35% in 6 years. Homes are selling in this hood in less than 2 months.

I have been thinking of selling due to the market.
Link Posted: 3/20/2017 11:43:43 AM EDT
[Last Edit: 3/20/2017 11:46:01 AM EDT by Keib]
I'm rural Highlands County.

Market is damn busy right now. We are scheduled to close 23 transactions this month.

Largely residential, but contractors are out swinging hammers.

Developments that died on the vine are coming back to life.

I prefer "steady" over "rocket", but suspect interest will climb more and slow the pace.

ETA: I took a bath on the home I purchased in 2005. I purchased my present home from a bank in 2009 for $160K.

A recent appraisal has it at $320K.
Link Posted: 3/21/2017 12:03:52 PM EDT
Sarasota/Bradenton prices are climbing and plenty of new construction too.
A house selling for 165k three years ago is listing close to 220k now.
Link Posted: 3/21/2017 5:08:01 PM EDT
Every article i read is for a Miami housing correction coming soon especially in condos.

http://www.marketwatch.com/story/miami-condo-market-is-stumbling-and-likely-to-take-a-further-hit-2016-11-04
Link Posted: 3/21/2017 8:00:54 PM EDT
My uncles house in NW Broward I was living in for years(kicked me out & I'm renting now) just sold for $265K. With original kitchen & bathrooms. And no inside paint in 15 years. 1600 Sq feet
I never though he'd sell it so fast. Listed February 2nd. Contract was in place yesterday closing end of April.

My OP still stands.... if you got $ a house is no problem for you.
Link Posted: 3/21/2017 8:29:49 PM EDT
It's booming here in southern PBC with new construction everywhere and resale prices going up.

Farmland is unfortunately become sub divisions.
Link Posted: 3/21/2017 8:34:10 PM EDT
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By America-first:
It's booming here in southern PBC with new construction everywhere and resale prices going up.

Farmland is unfortunately become sub divisions.
View Quote
They turned a nice grove into a development a couple miles from me in the
last couple months. It is sad.
Link Posted: 3/22/2017 10:24:14 AM EDT
[Last Edit: 3/22/2017 10:25:25 AM EDT by nowgrn4]
I'm in S Tampa about 5 minutes from Bayshore and Bay to Bay. House next door just sold in 4 days for $996K. Mine has been paid off 12 years and appreciated 7% just last year. After taxes and homeowners insurance are deducted I'm banking around $1,600 a month in appreciation to live here for free.

We were going to sell it next year when my DW retires but have now decided we don't need the dough right now and to let my youngest son live here for just the utilities cost so he can save more for his own down payment on a home. Seriously, with DT in office and baby boomers nation wide retiring where else are you going to bank 6% on your money? Plus we will have a really nice place to stay for free when we come back from our travels to visit the grand kids.
Link Posted: 3/25/2017 10:38:10 AM EDT
In my little middle-class neighborhood in Jacksonville, there's very few houses for sale. The ones that stay vacant seem to be because of foreclosure issues. There's a lot of apartment, condos and housing developments going on in the city limits.
But I'm not in the industry, I'm just observing all the new construction going on.
Link Posted: 4/5/2017 12:30:46 AM EDT
I've been into investment real estate for quite some time now in the NE FL area. I'm currently liquidating some real estate assets because I believe the market has/is about to peak and I won't be likely to make nearly as much money on them for at least another 5 years. Interest rates rising and inflation setting in over the next couple years are likely to sour the economy in my opinion and this will inevitably affect real estate. Not to mention another war, economic downturn, etc. I've seen some markets in Jacksonville go up over 50% in less than 2 years. If that isn't a sign of another real estate bubble forming I don't know what is. Then again, I've recently been looking into property off of A1A south of St Augustine and there is quite a bit of inventory that has been sitting for quite some time.

I don't know what's going to happen but if you're looking for investment real estate, I'd look elsewhere for the time being. If you're looking for a home, expect to pay a premium for a popular area. It's popular for a reason haha. USVI may be a good place to look if you're interested in a "safer" over-seas investment. Personally I would still give that market another year, but that is a whole different discussion. Mexico is becoming a very popular real estate investment hotspot again but cash is still king down there unles you want to pay out the azz for financing from a Mexican bank (US banks won't lend you money to buy property in Mexico). Costa Rica is stagnant with a lot of inventory sitting for years and most people lucky to break even on investment properties. I am hearing Belize and Columbia being thrown around a lot but I have no personal experience. New Zealand has become a popular hotspot if you have the money (it isn't cheap). Anyway, that's all I've got! Happy real-estating!
Link Posted: 4/9/2017 11:23:00 AM EDT
I just moved to St. Pete from St. Augustine (full disclosure I am a Realtor) and St. Johns County (St. Augustine) is pretty much the fastest growing county in Florida if not the entire SE US.

St. Pete is hit or miss depending the area.  Some areas are surprisingly on the rise while others are only experiencing the typical growth (value).  I'm seeing investors snatch up lower income homes by the block, if they can, and then either rehab and flip or knock it down and rebuild something much better in its place.

If you're in St. Pete/Clearwater and want to buy/sell, shoot me a PM and I can either help you out or point you in the right direction.
Link Posted: 4/10/2017 2:02:55 PM EDT
[Last Edit: 4/10/2017 2:03:31 PM EDT by sirgarreth]
Don't know. My parents have been trying to sell their housing in North Port for the last 6 months and nothing. They are selling for way below what they paid and don't care to take a loss, just want to get rid of it. Not even any calls. As soon as this realtors contract expires, they are going to look for another realtor.
My house in Miami has gone up quite a bit, but still slightly underwater. Other areas here in Miami have SKYROCKETED!! Most houses down here have asking prices that are crazy!
Link Posted: 4/10/2017 5:20:14 PM EDT
Naples, house sales are slowing down pretty good.

They are building like 2008 again.
Link Posted: 4/11/2017 9:49:19 AM EDT
I sold in Apollo beach about 10 months ago and got $25K over asking but yes homes are jumping up like mad.
Link Posted: 4/12/2017 3:47:54 PM EDT
I guess it all depends on the area.
In my area (SW Broward) the market is pretty hot right now. A house that was purchased for $280k in 2013 just sold for asking price of $340k on the first weekend. One neighbor who purchased their home in 2004 for $195k was sold for $330k in one day. Another house is going to be listed next week for $325k and I expect it will be sold for that price in just few weeks...maybe faster.
Link Posted: 4/13/2017 10:51:31 AM EDT
[Last Edit: 4/13/2017 10:52:43 AM EDT by rfm05]
Here in the TLH area, it really depends on the neighborhood. In the desirable/more affluent areas, homes are going for the asking price. Downtown/near the colleges? It's a mixed bag of luxury condos near the capitol, and run down shacks in the ghetto and a few new condo buildings near campus. 

And after some recent trips to the Destin area, and scouting some vacation rentals-that market is very hot, and lots of new construction going on. 
Link Posted: 4/13/2017 9:39:44 PM EDT
I purchased a home back in December in Land O Lakes at a good price. House appraised above what I paid for it and with my down payment I have a good amount of equity in it already. I live in a good size gated subdivision and when homes go on the market, they are gone pretty quick. I lived in Tampa and looked for homes there but the prices were ridicoulous for homes that needed a lot of work and most were built in the middle 80's. We got a lot more home for less money just going one county north.
Link Posted: 4/13/2017 9:50:57 PM EDT
House back to their peak values before the crash. A few even higher.
Link Posted: 4/14/2017 12:31:50 AM EDT
I noticed a commercial on tv today pitching mortgages to people with low credit scores, gotta wonder if the banks that just got back on their feet are asking to be knocked over again
Link Posted: 4/14/2017 4:25:10 PM EDT
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Banditman:


They turned a nice grove into a development a couple miles from me in the
last couple months. It is sad.
View Quote
That grove was likely going anyway. Most groves now have to be ripped out and replanted every few years to to citrus greening and canker. Florida's production has dropped over 50% since 2000. A good friend of mine sits on the FCM board. The future is bleak. It is not like my Great Grandfathers grove....40-50 year old trees....now that is sad.
Link Posted: 4/14/2017 4:51:33 PM EDT
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By jjrockbush:
That grove was likely going anyway. Most groves now have to be ripped out and replanted every few years to to citrus greening and canker. Florida's production has dropped over 50% since 2000. A good friend of mine sits on the FCM board. The future is bleak. It is not like my Great Grandfathers grove....40-50 year old trees....now that is sad.
View Quote
Yes, it's a shame, back in the early eighties orange groves were considered investments that were fun to own. Not anymore unfortunately.
Link Posted: 4/15/2017 12:12:49 AM EDT
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By MyakkaVice:



Yes, it's a shame, back in the early eighties orange groves were considered investments that were fun to own. Not anymore unfortunately.
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I grew up near Sligh and Armenia and there was an orange grove just to the west one block we would play in. There was also a market just south of Sligh on Armenia that sold citrus and fresh honey called Coarsey Groves. Of course its been gone for years now.
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