I understand why you feel that way. Affordability is very subjective and highly dependent on income and other expenses as well. It isn’t very likely that we will see prices drop that much. It is more likely that prices will come down some as we have been seeing in many SWFL areas for the past few months and for incomes to come up a bit as well, as employers continue to struggle to find employees. But this is about as close as it gets for a brand new home.
@LivinginSouthwestFlorida_ let me ask a serious question. We currently know that over %90 of the population was priced out of the market at a %1,9 interest rate. We are now at almost %8. Add the outrageous taxes and insurance over %96 of people are priced out. So seeing as you don't think prices will come down who is going to buy all this inventory?
@@KingFergusrates are down in the high 6%-7% range now and that drop from 8% has brought some buyers back into the market. There are also still quite a few people moving to the area. And it’s still expected that rates will drop more in the not too distant future which will also bring more buyers back in.
@LivinginSouthwestFlorida_ after its all said and done and you sign the papers it's about %8 . And the FED has announced it will not be dropping rates in 2024 and possibly not 2025...
@@KingFergus it depends on if there are prepaid points. I haven’t seen that lately with the rates going down to where they have recently. And the FED also said they were going to drop rates 4-6 times in 2024 just a couple months ago so what they said last week will likely change next month because the reality is the FED is a reactionary organization. They do their best to project expectations but it all depends on what happens with inflation and the job market.
Everyone has a different opinion of what affordable is but compared to the price of the average home let alone new home in the area right now WestPort is very affordable.
@@matthewnowack4610 I assume they have inventory because they want to have some inventory. If they wanted to sell it quickly they could. I’ve seen every one of those builders unload inventory in a hurry if they feel they need to. Lennar is just about sold out and DRHorton seems to be selling just fine. And last time I was there the Taylor Morrison, M/I and Christopher Alan weren’t open so they either didn’t have anything to sell or have sold enough that they felt comfortable having their offices closed for the day.
@@LivinginSouthwestFlorida_ they have inventory because nobody’s buying in there Same thing with wellen park They’re overpriced cookie cutter homes couple of our big builders are already building houses because things aren’t selling you believe what you want in real estate. I’m in the construction field.
@@matthewnowack4610 I think you might have misunderstood what I was saying. The builders are keeping very close tabs on who is buying what where and making adjustments as needed so if you are seeing starts slow down it’s because they have seen the buying slow down. And if they feel they have too much inventory they will offer bigger incentives. Every home will sell at the right price. I spoke to 7 different builders yesterday and they are all offering incentives either money or special interest rates or a combination and I was able to negotiate even more on select homes in certain communities based on what is and is not selling.
Nothing in FL is "affordable" for people who live full time and work here. It will be "affordable" again when prices drop by at least %50
I understand why you feel that way. Affordability is very subjective and highly dependent on income and other expenses as well. It isn’t very likely that we will see prices drop that much. It is more likely that prices will come down some as we have been seeing in many SWFL areas for the past few months and for incomes to come up a bit as well, as employers continue to struggle to find employees. But this is about as close as it gets for a brand new home.
@LivinginSouthwestFlorida_ let me ask a serious question. We currently know that over %90 of the population was priced out of the market at a %1,9 interest rate. We are now at almost %8. Add the outrageous taxes and insurance over %96 of people are priced out. So seeing as you don't think prices will come down who is going to buy all this inventory?
@@KingFergusrates are down in the high 6%-7% range now and that drop from 8% has brought some buyers back into the market. There are also still quite a few people moving to the area. And it’s still expected that rates will drop more in the not too distant future which will also bring more buyers back in.
@LivinginSouthwestFlorida_ after its all said and done and you sign the papers it's about %8 . And the FED has announced it will not be dropping rates in 2024 and possibly not 2025...
@@KingFergus it depends on if there are prepaid points. I haven’t seen that lately with the rates going down to where they have recently. And the FED also said they were going to drop rates 4-6 times in 2024 just a couple months ago so what they said last week will likely change next month because the reality is the FED is a reactionary organization. They do their best to project expectations but it all depends on what happens with inflation and the job market.
You’re high, nothing in west port is affordable 😂
Everyone has a different opinion of what affordable is but compared to the price of the average home let alone new home in the area right now WestPort is very affordable.
@@LivinginSouthwestFlorida_ that’s why they have so much inventory 🤷♂️I’m in that place daily. That’s okay Babcock Ranch is doing great
@@matthewnowack4610 I assume they have inventory because they want to have some inventory. If they wanted to sell it quickly they could. I’ve seen every one of those builders unload inventory in a hurry if they feel they need to. Lennar is just about sold out and DRHorton seems to be selling just fine. And last time I was there the Taylor Morrison, M/I and Christopher Alan weren’t open so they either didn’t have anything to sell or have sold enough that they felt comfortable having their offices closed for the day.
@@LivinginSouthwestFlorida_ they have inventory because nobody’s buying in there Same thing with wellen park They’re overpriced cookie cutter homes couple of our big builders are already building houses because things aren’t selling you believe what you want in real estate. I’m in the construction field.
@@matthewnowack4610 I think you might have misunderstood what I was saying. The builders are keeping very close tabs on who is buying what where and making adjustments as needed so if you are seeing starts slow down it’s because they have seen the buying slow down. And if they feel they have too much inventory they will offer bigger incentives. Every home will sell at the right price. I spoke to 7 different builders yesterday and they are all offering incentives either money or special interest rates or a combination and I was able to negotiate even more on select homes in certain communities based on what is and is not selling.