If you are thinking of moving to the Tampa Bay or Sarasota Area, I'm here to help! 🏡Book a zoom call with me and let’s discuss your real estate goals. calendly.com/joshbryanrealtor
"Wellen Park is within the city limits of North Port, with some portions of the community extending into unincorporated Sarasota County". Homes are marketed for $400,000+ to $1 MILLION. I would recommend reviewing what is occurring with City Government in North Port and their rezoning with updating Comprehensive Plan and the ULDC guidelines. Buyer be aware.
The Sarasota Metro market is roughly 25% overvalued. With the economic forecasts being as uncertain as they are right now it makes more sense to wait this out a bit or rent. There has been a shift in inventory growth as well. IMHO the downside risk if a recession comes our way which many economists are calling for is greater than any upside from here. Meanwhile the cash I allocated for a house is earning 32k a year in monthly t-bills.
@@DC-gp6hd I get it, but did you know that in Sarasota County (where these homes are) the Median Sales price is up 2.7% YOY, the Average Sales price is up 6% YOY, and cash sales are up 3.6% YOY for the month of December 2023. In December, cash sales made up 44.2% of closed sales!
@@joshbryanrealtor I agree with your numbers. These prices are not sustainable for purchase or even some of these rental's prices, unless you are investor with cash or outer stater coming to purchase with high paying remote job. The remote job is risky in this state of economy (with employers wanting back in office). If those individuals lose their job, it is going to be difficult to find similar paying jobs here in FL. (I am a remote worker with DC based wage). We look back at the last bubble/housing crash in FL, home prices skyrocketed. The home price to income ratio was very similar to now. Then they crashed by like 50%. I feel Fl market is at the beginning of the crash and prices are starting to decline, as you now see the huge cuts/incentives. I am Fl native, grew up north of Tampa. I left the state years ago and I just recently moved back. I am waiting and hoping the prices are going to drop another $100-150K before i bite. For myself now, it is more cost effective to rent. I do enjoy your videos!
I’m not a realtor but I know what a house is worth. Honestly, I love what is going on at wellen park, but these houses are not worth more than 400 k. These houses are cookie cutter at best. How many millionaires are really going to buy into this basic housing ??
Considering that pools like that are running $110-120k by itself, they are worth more than $400k. Ultimately, the market doesn’t care what you or I think. Someone will buy them.
@@joshbryanrealtor Definitely not. Prices are bad enough here in California. Discouraging to see such boring and poorly designed houses there going for so much. Never trust a house whose garage is more of a “feature” than the front of the house itself. Enjoyed you doing tour though.
![[2023] VENICE FLORIDA | A-to-Z Guide (What you need to know)](http://i.ytimg.com/vi/PObvKwhcESQ/mqdefault.jpg)
If you are thinking of moving to the Tampa Bay or Sarasota Area, I'm here to help!
🏡Book a zoom call with me and let’s discuss your real estate goals. calendly.com/joshbryanrealtor
The huge price cuts are meaningless when they are still so overpriced.
Ok
Very nice video.
Thank you very much!
"Wellen Park is within the city limits of North Port, with some portions of the community extending into unincorporated Sarasota County". Homes are marketed for $400,000+ to $1 MILLION. I would recommend reviewing what is occurring with City Government in North Port and their rezoning with updating Comprehensive Plan and the ULDC guidelines. Buyer be aware.
The Sarasota Metro market is roughly 25% overvalued. With the economic forecasts being as uncertain as they are right now it makes more sense to wait this out a bit or rent. There has been a shift in inventory growth as well. IMHO the downside risk if a recession comes our way which many economists are calling for is greater than any upside from here. Meanwhile the cash I allocated for a house is earning 32k a year in monthly t-bills.
Way too expensive
How much do you think it’s worth?
@@joshbryanrealtor FL markets is still about $150-200K to high, IMO. Especially, when you look at home price to income ratio.
@@DC-gp6hd I get it, but did you know that in Sarasota County (where these homes are) the Median Sales price is up 2.7% YOY, the Average Sales price is up 6% YOY, and cash sales are up 3.6% YOY for the month of December 2023.
In December, cash sales made up 44.2% of closed sales!
@@joshbryanrealtor I agree with your numbers. These prices are not sustainable for purchase or even some of these rental's prices, unless you are investor with cash or outer stater coming to purchase with high paying remote job. The remote job is risky in this state of economy (with employers wanting back in office). If those individuals lose their job, it is going to be difficult to find similar paying jobs here in FL. (I am a remote worker with DC based wage). We look back at the last bubble/housing crash in FL, home prices skyrocketed. The home price to income ratio was very similar to now. Then they crashed by like 50%. I feel Fl market is at the beginning of the crash and prices are starting to decline, as you now see the huge cuts/incentives. I am Fl native, grew up north of Tampa. I left the state years ago and I just recently moved back. I am waiting and hoping the prices are going to drop another $100-150K before i bite. For myself now, it is more cost effective to rent. I do enjoy your videos!
I’m not a realtor but I know what a house is worth.
Honestly, I love what is going on at wellen park, but these houses are not worth more than 400 k.
These houses are cookie cutter at best.
How many millionaires are really going to buy into this basic housing ??
Considering that pools like that are running $110-120k by itself, they are worth more than $400k. Ultimately, the market doesn’t care what you or I think. Someone will buy them.
@@joshbryanrealtor nope. The crash is coming.
Unattractive and not great prices. Hallways are scary narrow.
Soooooooo.....you're saying you're not a fan huh?
@@joshbryanrealtor Definitely not.
Prices are bad enough here in
California. Discouraging to see
such boring and poorly designed
houses there going for so much.
Never trust a house whose garage
is more of a “feature” than the
front of the house itself.
Enjoyed you doing tour though.
@@AScott-cg4cu homes are not cheap here by any means. Thanks for watching and commenting. Let me know if I can ever help you leave California!
I will. Thanks.