FL Real Estate Market

Quote from danoXP:

Median home prices in Miami -10.5% last 12 months according to this:

http://www.housingtracker.net/askingprices/Florida/Miami-FortLauderdale-MiamiBeach/
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You're data includes condo's.

There's been a significant disconnect. Condo's are weak but SFH's are robust. IMO it's been a complete mis-price. For a while it was cheaper to buy a condo than an SFH in the same neighborhood. Snow-birds don't want he hassle of a house.

SFH prices here are stable and as I said earlier in this thread, not outrageously priced compared to much of the country. I saw a vacant lot in Pompano yesterday and it was $460k. Lots of money until you realize it was half a block from the ocean. 460k in Chicago buys a ranch house in Niles. 460k in NYC buys a studio or a really crappy 1bd. Now if that lot was 2mil I'd say bubble but less than a half mil? I'd say pretty freakin' cheap.
 
Quote from Pa(b)st Prime:

I saw a vacant lot in Pompano yesterday and it was $460k. Lots of money until you realize it was half a block from the ocean. 460k in Chicago buys a ranch house in Niles. 460k in NYC buys a studio or a really crappy 1bd. Now if that lot was 2mil I'd say bubble but less than a half mil? I'd say pretty freakin' cheap.
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Go to ML or WaMu and float an OpARM for the $460k. You can rent it out to ETers during the Winter months!
 
Quote from atticus:

Go to ML or WaMu and float an OpARM for the $460k. You can rent it out to ETers during the Winter months!
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I'd better pay down my WaMu Visa first......:D
 
Quote from flytiger:

My neighbor listed at 625 in Feb of 06. She's down to 379

The house would have easily sold at 575 in 06.
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Where is this ?

This is crazy.


=================

Mark Zilbert, a real estate agent, recently started CondoSuperCenter.com, a clearinghouse for people willing to resell preconstruction units at their original price. He said he expected thousands of listings.

“I ask if they’d be willing to sell at their 2003 price and walk away with their deposit back,” Mr. Zilbert said. “A lot of people are saying, ‘Yes, please, yes, please, yes, please.’ ”
 
Quote from Adobian:

Where is this ?

This is crazy.

Palm Beach County, Florida.

Saw one sell. Was in the paper. they paid 240 in 04, and just got 350, and they probably could have gotten high 4's. For years, all these people had told me they bought a place, fixed it, moved, fixed it, moved. This has been going on for years. If they did it one at a time, they did great. Tey got stuck once. But, you guessed it. If you pyramided (?), you now have a 50 grand a month nut, like the brilliant woman who was a real estate agent and bought up some bargains in a place called, I believe, Olympia, in Wellington Fl. They're all so smart. Oh well.

Now, I'm on a roll. We have the "Guardian Angels" coming in because of gang violence. We can't afford insurance, or even get it. They're going to cut property taxes, and the municipalities are crying they won't be able to make ends meet. WE can't sell now, because with the appreciation in values, lthe new buyers get slammed with the new assessments. Florida is a friggin' mess. Crist is doing some good things, but the Hurricanes, the infrastructure....... they built over the Everglades. Our ecosystem is a mess, unbelievable. The PBPost.com is a liberal rag, but I've been reading it lately. Hit it up, and just look at the headlines. It's crazy. I live in a very upscale neighborhood, and we had a drug adict w/ a big criminal record rifleing cars. My neighbor is a Fed Marshal, and he missed her by about twenty minutes. He's a lucky bastard, because she would have emptied a clip in him if he fucked w/her BMW. That's another cool thing. We can shoot your ass if you're on our property. Think I'm crazy? I 95, a mother, father, and I think 4 kids EXECUTED on the side of the road. You know, bullet to the back of the head. No shit. The kids - executed!!!

Come on down. It's bitchin'. LOL.
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Quote from flytiger:

Quote from Adobian:

Where is this ?

This is crazy.

Palm Beach County, Florida.

Saw one sell. Was in the paper. they paid 240 in 04, and just got 350, and they probably could have gotten high 4's. For years, all these people had told me they bought a place, fixed it, moved, fixed it, moved. This has been going on for years. If they did it one at a time, they did great. Tey got stuck once. But, you guessed it. If you pyramided (?), you now have a 50 grand a month nut, like the brilliant woman who was a real estate agent and bought up some bargains in a place called, I believe, Olympia, in Wellington Fl. They're all so smart. Oh well.

Now, I'm on a roll. We have the "Guardian Angels" coming in because of gang violence. We can't afford insurance, or even get it. They're going to cut property taxes, and the municipalities are crying they won't be able to make ends meet. WE can't sell now, because with the appreciation in values, lthe new buyers get slammed with the new assessments. Florida is a friggin' mess. Crist is doing some good things, but the Hurricanes, the infrastructure....... they built over the Everglades. Our ecosystem is a mess, unbelievable. The PBPost.com is a liberal rag, but I've been reading it lately. Hit it up, and just look at the headlines. It's crazy. I live in a very upscale neighborhood, and we had a drug adict w/ a big criminal record rifleing cars. My neighbor is a Fed Marshal, and he missed her by about twenty minutes. He's a lucky bastard, because she would have emptied a clip in him if he fucked w/her BMW. That's another cool thing. We can shoot your ass if you're on our property. Think I'm crazy? I 95, a mother, father, and I think 4 kids EXECUTED on the side of the road. You know, bullet to the back of the head. No shit. The kids - executed!!!

Come on down. It's bitchin'. LOL.
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I've just moved out of Redwood City, CA, a gang infested area where most homes there worth about 1 million +, occupied by "undocumented" aliens.
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