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Where to buy in Florida?

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Old 04-15-2009, 06:07 PM
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Originally Posted by LEOPAJM View Post
Hey Pat .... whats the website you follow ?

www.dreampriceincrease.com

South Florida will see more pain this year. Wait until the end of 09 before you buy. When prices do start to rebound down there it will be flat for a very long time. Wait for the next huge round of foreclosures and by that time the commercial realestate collapse will be in full swing and we'll see another round. Florida isn't helped by their expensive property taxes and insurance either. There are some condos in Miami they can't give away because the taxes and specials cost more per month than you could rent the places for. These same realtors telling you all to buy now are the same one's that were selling people homes a few years ago that have now lost 50%+ of their value.

Other than Michigan I think Cali and SFL hold most of the Top 15 spots for the worst housing areas. Most are calling for a bottom at the end of 2010.
http://www.builderonline.com/local-m...09.aspx?page=5

Last edited by isellpower; 04-15-2009 at 06:10 PM.
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Old 04-15-2009, 07:44 PM
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These same realtors telling you all to buy now are the same one's that were selling people homes a few years ago that have now lost 50%+ of their value.

Feel free to follow me around for a week and see how I handle my clients. You don't know me and you certainly don't know my business.

I give tempered advice. I definitely am NOT pushing the $500-$800k dry lots right now. But if you think there isn't money to be made in the $100k market right now I beg to differ.

Just my S. Fla educated position. Take it for what it's worth.
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Old 04-15-2009, 08:32 PM
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Feel free to follow me around for a week and see how I handle my clients. You don't know me and you certainly don't know my business.

I give tempered advice. I definitely am NOT pushing the $500-$800k dry lots right now. But if you think there isn't money to be made in the $100k market right now I beg to differ.

Just my S. Fla educated position. Take it for what it's worth.

Isellpower,

Keep in mind not all real estate purchases are schemes to make loads of unearned income. Crazy as it seems some people buy property to just live in or vacation in.....

I have met Greg/Cashbar a few times over the years but have never done business with him and have yet to hear an OSO member bash his services as a realtor. You may not agree with him or his outlook but he is in the trenches in S. FL not reading a nationwide report on the outlook of investment real estate in general while sitting home in Omaha.

Lower prices combined with very low interest rates makes it the time to buy for anyone that is ready, willing and able to move forward with their decision to buy.

Last edited by Jupiter Sunsation; 04-15-2009 at 08:36 PM.
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Old 04-15-2009, 08:35 PM
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BTW my neighbor just sold their home in less than 30 days for a $125,000 profit after 5 years of ownership with no major improvements. They owned it right, didn't cash out the equity and needed to move to Texas.

If you bought in 04-07 you may not be in that same position but not everyone is buried in S. FL real estate right now.
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Old 04-15-2009, 09:17 PM
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Sell our two bedroom! we want a 3!
Another little cowisl on the way?
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Old 04-15-2009, 09:34 PM
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Isellpower,

Keep in mind not all real estate purchases are schemes to make loads of unearned income. Crazy as it seems some people buy property to just live in or vacation in.....

I have met Greg/Cashbar a few times over the years but have never done business with him and have yet to hear an OSO member bash his services as a realtor. You may not agree with him or his outlook but he is in the trenches in S. FL not reading a nationwide report on the outlook of investment real estate in general while sitting home in Omaha.

Lower prices combined with very low interest rates makes it the time to buy for anyone that is ready, willing and able to move forward with their decision to buy.

Greg/Cashbar is a standup guy and easy to work with. Been there.

If you buy a bankowned home for 30% than current, verified, recent sales, you will be sitting pretty in a couple years.

Anyone that thinks deepwater canal property minutes from the ocean will be 150k in a couple years bumped their head.

I witnessed how fast this market can turn, and my thinking is the downturn will end just as quickly, give some thought to Obama trillions of stimulus and the modification plans announced today.

Of the 15 bank owned listings I had recently, exactly 1 was on the market more than 10 days--only because of code violations! Look at the real staistics on the MLS, or better yet try to lowball a bankowned property, and tell me how it works out for you...
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Old 04-15-2009, 09:40 PM
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These same realtors telling you all to buy now are the same one's that were selling people homes a few years ago that have now lost 50%+ of their value.



Actually, I was the mortgage company owner in those days, just went back to real estate sales , after seeing how fast the Bankowned properites were selling, and figured the same banks I dealt with would give me listings. Worked out well.

Last edited by Tampa38; 04-15-2009 at 09:52 PM.
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Old 04-15-2009, 11:37 PM
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Originally Posted by isellpower View Post
www.dreampriceincrease.com

South Florida will see more pain this year. Wait until the end of 09 before you buy. When prices do start to rebound down there it will be flat for a very long time. Wait for the next huge round of foreclosures and by that time the commercial realestate collapse will be in full swing and we'll see another round. Florida isn't helped by their expensive property taxes and insurance either. There are some condos in Miami they can't give away because the taxes and specials cost more per month than you could rent the places for. These same realtors telling you all to buy now are the same one's that were selling people homes a few years ago that have now lost 50%+ of their value.

Other than Michigan I think Cali and SFL hold most of the Top 15 spots for the worst housing areas. Most are calling for a bottom at the end of 2010.
http://www.builderonline.com/local-m...09.aspx?page=5

A guy from Omaha giving South Florida real estate advice
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Old 04-16-2009, 04:13 PM
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Thanks Jupiter and Tampa38.

Business is good, I don't need to prove it to anyone except my buyers/sellers.

My site is nearly finshed. The past clients will speak for themselves.

Also, I just had a STELLAR week. It would be had to dent my mood right now.

Rick, You got any REO stuff in a particular zip that could be packaged? Just curious. Thanks.
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Old 04-16-2009, 04:15 PM
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A guy from Omaha giving South Florida real estate advice
If his real name is Warren B. I might listen...
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