i live in florida and this happened in 2008. but it hasn't happened yet. with all the problems with condos i wouldn't be surprised what will happen there.
Now that interest rates are dropping .5% and will be down to ~5% by the end of the year, demand will pick back up and you can forget about significant price drops, other than condos.
I am a real estate agents as well. Prices need to drop by 40 to 50%. The fed just lowered interest rates so that Ideal is out the window. 2 month before election. What timing.
FYI In the 2008 housing crash Miami prices plummeted to 50% 😮 I'm not saying that's going to happen anytime soon but looking out to the next 12 to 24 months things are definitely going to change for the negative from where they are today IMHO
Florida homes have been overvalued by 50% or more. Buyers need to watch out for the rising insurance premiums, which, in my opinion, are out of control. Buyers need to watch out for HOA fees. I expect home values to decrease by 60% to 70%.
I have no idea why people ignore the anomaly of about 2021 to about 2023, prices skyrocketed as people bought in a panic. But it was also the perfect storm as the state began requiring higher reserves and the insurance bomb, along with spiking inflation and a major hurricane, it blew up Florida's economy. Florida was always a bargain for shoreline living, today not so much.
i live in florida and this happened in 2008. but it hasn't happened yet. with all the problems with condos i wouldn't be surprised what will happen there.
WHY would any one want to buy into those nightmare crowded experiences ⁉
The true statement is that those houses are ONLY WORTH at the most 50% of what they are asking ! 😊
I always enjoy tour very well stated videos. Keep up the great work!
50 percent off, but your special assessment cost increased taxes, and flood insurance will make up the difference once you buy it.
I will be buying a second home in Naples next year when the prices are down.
Naples price increases are beyond unreasonable. A home built in 1950-60s is 700 - 1m 😭😵
Miami prices
Thank you for your honesty.
My pleasure!
Thank you. Your video has valuable information.
Glad it was helpful!
Supply and demand never fails.
We our so low on inventory that prices aren't going to fall much if at all. Coastal resort areas are different than the rest of the country.
Agree. The midwest is very low in inventory.
Now that interest rates are dropping .5% and will be down to ~5% by the end of the year, demand will pick back up and you can forget about significant price drops, other than condos.
Interest rates are not down .5% The rate at which the banks can borrow the money are down .5%.
On the subject of bundled golf, what is your take on Hunter's Ridge in Bonita S?
Extremely crowded during season
Damned if I'd buy a condo in Florida!
I am a real estate agents as well. Prices need to drop by 40 to 50%. The fed just lowered interest rates so that Ideal is out the window. 2 month before election. What timing.
That’s simple. The prices are so over valued and agents are most if the problem
The market conditions dictate pricing, not agents.
FYI
In the 2008 housing crash Miami prices plummeted to 50% 😮
I'm not saying that's going to happen anytime soon but looking out to the next 12 to 24 months things are definitely going to change for the negative from where they are today
IMHO
Well if u cant i csn
I left Florida for Puerto Rico--a much better place!
Florida homes have been overvalued by 50% or more. Buyers need to watch out for the rising insurance premiums, which, in my opinion, are out of control. Buyers need to watch out for HOA fees.
I expect home values to decrease by 60% to 70%.
I have no idea why people ignore the anomaly of about 2021 to about 2023, prices skyrocketed as people bought in a panic. But it was also the perfect storm as the state began requiring higher reserves and the insurance bomb, along with spiking inflation and a major hurricane, it blew up Florida's economy. Florida was always a bargain for shoreline living, today not so much.
In reality it should drop 50% any house on the market now is not worth the listing price
Oy veh