Florida Inventory Jumps 1,000%
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- Опубліковано 15 жов 2024
- By now many have reported that the sectors of the Florida Housing Market are seeing the number of homes for sale increase as much as 1,000%. The target of this number has been one specific zip code in Cape Coral so lets take a look at how it stacks up to 2008 for the same area.
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Ben Grieco
Broker Associate
Call/Text: 845-674-5290
Email: BenFloridaAgent@gmail.com
SL# 3330499
Coldwell Banker Sunstar Realty
2825 Tamiami Trail, Punta Gorda, FL 33950
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DISCLAIMER: This UA-cam channel is intended for entertainment purposes only. The owner of this channel, Ben Grieco, makes no representations as to the accuracy of any information on this site, contained within the video, or available in comments. Ben Grieco is not a licensed financial advisor and the views represented are not financial advice nor legal advice. Please consult a financial or legal professional before investing. The information on this channel does not substitute consultations with local real estate agents, mortgage brokers, insurance brokers, financial advisors, and/or lawyers. The information provided is subject to change. The use of the internet and digital methods for communications with Ben Grieco such as e-mails does not establish a formal business relationship.
Heard from a realtor a lot of people are pulling their homes off the market hoping prices will come back up. I think they missed that boat.
They did.
@@Gone_huntingg They gotta live somewhere. Maybe they sold in NY or Connecticut for $800k and paid $550 for a house in Sarasota. Big nothing.
Ben, once again you remind me of myself when I was a young agent and this video had me rolling laughing.
I get such a chuckle now when I am with buyers talking to new construction builders. I do like the builders and think they offer a great opportunity for my buyers but I chuckle when I am looking at a builder that has 20 to 30 quick move in homes wanting to sell and the representative tells me that they are getting ready to raise the prices.
My compliments, sir, on another wonderful video.
This guy continues to kill it! Watched his videos and eventually hired him to help us find our condo. Nothing can top market knowledge. This is your guy for market knowledge and finding the right fit for you. Never pushy and always your advocate. Can't say strongly enough, if you are looking for honesty, and integrity in a buyer's representative in this area you cannot go wrong with Ben.
You Rock Mark! Checks in the mail! 😆
Ben, I think your analysis is pretty spot on. There are multiple economies going on. It's all situational to each person's financial resources. Obviously high borrowing rates and low inventory in their price range (which is over-priced anyway) has made homebuying for middle- and lower-income families very, very difficult. This in turn has pushed rental pricing through the roof due to high demand. Higher income individuals can still purchase but their home is overpriced as well. Ultra-high income folks don't even bat an eye. They can handle it. The condo market is a dumpster fire with insurance, HOA, maintenance and assessment fees. I don't think it will change anytime soon for Florida. It's a waiting game in my opinion which is worth about 2 cents. Thanks for your content, always good! Peace !
The insight and viewpoints are always appreciated!
With todays high prices, mortgage rates, property, taxes, home insurance, HOA issues, its a terrible time to buy in FL. And now, hurricane season kicking off. Insane bro.
Selling our home in Babcock Ranch and will be closing next week. Priced it reasonably and got an offer in < 2 weeks - better than breaking even but nothing like the 30 - 50% equity increase from year(s) past. The non-discretionary costs of holding a home in SW Florida the past 2 years has been crazy (home insurance costs doubled, property tax increases, HOA, CDD and basic maintenance). Not trying to hold onto a falling knife.
Visited our friends who rented in Babcock Ranch the last couple of years. They are golfers, very wealthy but have no desire to buy. They said it's hard to get tee times now on the one golf course. 3 years ago when they had a new section open up they would auction them off. Now it looks like they are over building. Interesting place in the middle of nowhere. I think you made the right decision
You made a smart move. Good luck to you
@@lrc87290absolutely in the middle of nowhere and people from out of state but out there without realizing that.
People here in Palm beach county are listing 100 to as high 500 percent higher vs the start of 2021.
The vast majority of home purchases are by flippers and investors as it has been since 2021.
It’s hot potato as they have balloon loans and are under pressure to keep the shady money moving.
You guys want a 2MM home that was just $500K 3 years ago?
There are plenty to choose from
Great information.Thank you for telling the truth.
Visiting Austin-Lago Vista Texas now, counted over 40 homes for sale today within a 3-4 square mile radius, along with lots of Estate sales and condo rentals a plenty. I’ve never seen so many for sale signs in yards, it’s going crazy here. The locals are telling me they want out and like ASAP, even with them loosing $$.
Taylor Morrison built my condo complex in Vegas. Horrible workmanship, cracking walls, and leaking roofs. It appears they hired unskilled foreign workers who become 'builders' overnight in my opinion. I wonder how many other communities are suing them...
Are you sure it isn't Lennar? Same garbage build quality.
500k Mexican Nationals building homes in ATL 2005ish. The population exploded & then 2008 hit. The Mexican Nationals appeared to learn quickly though they didn’t have the trades down like Union guys & other American tradesmen up North. Without that foreign help I don’t think ATL population could have doubled from 3million to close to 6 million metro over the years. Inspecting before buying is definitely important.
So there I was, grumbling about UA-cam always sending me the same stupid content, wondering how to stop the nonsense... and I get this guy?! What a breath of FRESH AIR!! Thank you, Ben! Can't say I've ever thought much about Florida real estate- but I deeply appreciate intelligence and well explained details on almost any subject.
I was watching Will Prowse when you popped up- and I'd say that to be an honorable and favorable comparison. If you haven't seen him- go watch a video and you'll see what I mean. While I doubt I will ever purchase real estate in FLA, I will continue to watch your videos due to the logical explanation of various economies. Much to be learned from this man, including not taking oneself too seriously- example: walking with your noodle and U-turn for ice cream boat. Enjoy! -JDH
Thank you! I really appreciate that!
Over half the states are in recession. NY and NJ aren't there yet, once that happens the Florida housing market implodes
B- B- B- but Biden and the Democrats say the economy is great! No inflation at all!
The elephant in the room will be the unemployment rates in SW FL moving forward. In 2008 they went to 10-15% and the market did implode. I think the jury is still out on this?....time will play it out! Thanks for sharing!
I"m not interested in buying a house in Florida, too crowded, hurricanes, tourist, traffic, heat, I'll stay up north.
Thank you! Tell all of your neighbors how bad Florida is too.
Love the ice cream boat 🛥️
It made my day
Miss your reports great info
Like the video says, people are still buying . Sarasota and Tampa are still a sellers market. Only difference is you have more choices
Your so right its the rich affect when stocks r high..
The power of the beach compels you, the power of the beach compels you.
I think you are seeing the same effect as a light bulb, right before it burns out.
This ride is over.
Great scenery. I've never, ever, ever seen a floating ice cream "truck." But I want too.
Great show!!
Thank you!
This might be happening in those rural places but, is this even going to at all in the big metro areas, Tampa, Miami, Orlando, etc???
It's all part of the game.
Florida will go much lower..25%, insurance cost are going higher...much higher
just read mayor insurer in florida applied for double digit home insurance rates to go
up
Numbers arent even close for me to want to buy up here in Clay County. We still have people trying to sell 1200 sq ft 1980s turds for the same prices as brand new 2000 sq ft homes.
I saw the same thing in Pasco County. An early 1980s 2bed/2bath one car garage for $280K.
Who wants a 1 car garage? No room to store lawn mower, let alone tools and outdoors stuff
Ben I know you hate reporting all this but it's important news and I hope things turn around in 2025.
💩 hits the fan in 2025 when the crash really starts
@@GG-ug9hdagree 💯 percent
good
As is in NY means seller won’t fix anything even if your engineer finds something pre contract not post contract.
Ben delinquencies are minuscule vs the GFC. Until this changes we will not see a large correction.
How do you put a value on something that has no cost controls whatsoever? You can't. I think an awakening is taking place. The only ones who are willing to accept that are those with money to burn. Hence the jump in inventory and slowdown in buyers/offers. When/If the paper markets run out of gas, where will the buyer money come from?
Facts! You are spot on
Nothing 800,000 Teslas sold in Florida this Year can't resolve. Is funny to see gas prices higher in Richmond Virginia than anywhere else these days. I think at one time Richmond Virginia actually had an oil refinery similar to how Albany New York used to have one.
Ty
Renting is better than my home money return pays my rent and left $ to enjoy life
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As a beginner, it's essential for you to have a mentor to keep you accountable. I'm guided
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She's on face book, look up her name
Hattie Glover
It will get better Ben. God helps those who go the extra
Mile like you and these videos. God bless. Chris
What’s the name of the beach?
Looks like Englewood.. I recognize the bridge
Yomamaissa Beach
Most people could not afford their home if they would have to buy it today and with today's interest rate
Be patient- The meltdown is a comin
Wait for it
Hope you don't wait - and wait - and wait - until it's too late.
@@maddierosemusic Patience is a virtue desired by many possessed by few..This market is a $$$ market keeping an eye on the inevitable but a foot in the present....Check your balance sheet for validation....Invest well
Have noodle, will travel!
🤣 Always in the trunk just in case!
The moment you say “market”, Ben, all bets are off.
Something was looking weird with your beach walk. The video was all jittery in the background but not your head.
Miss you hurry back
Thank you for reporting the numbers, rather than clickbait that claims we are all so poor that we are arm wrestling our neighbors for dog biscuits.
#SmokeAndMirrors….the homes are still overpriced & unaffordable!!!!!!!….I believe people aren’t really closing on these homes!😌😌😌😌😌
What a flood!
Hurricanes sre coming
You look gorgeous, but please take a bottle of water with you on these walks in the hot florida sun