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3/20/2017 5:03:23 PM
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.
View Quote
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: Yesterday 10:24:14 AM EDT
[Last Edit: Yesterday 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.
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