Plan B
06-24-2007, 04:11 PM
#21
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It's a give and take no matter where you live. How you guys do it with the extreme summers and extreme winters I dunno.
Seattle was just mild, but the winters were too much, the fishing and sailing crap... or boating in general for that matter, too miserable and too gray for me. Not to say i don't miss the people, food and beer, don't get me wrong there.
Eventually we may move a bit more north here in florida, some spots seem to be cheaper and nicer then the area we are in. I'd consider some place like alabama if it didn't stick me on the gulf and too far from the islands. We don't get the rediculous heat here, it rarely dips over 90 or below 40 for that matter.
Who knows, only time will tell.
Seattle was just mild, but the winters were too much, the fishing and sailing crap... or boating in general for that matter, too miserable and too gray for me. Not to say i don't miss the people, food and beer, don't get me wrong there.
Eventually we may move a bit more north here in florida, some spots seem to be cheaper and nicer then the area we are in. I'd consider some place like alabama if it didn't stick me on the gulf and too far from the islands. We don't get the rediculous heat here, it rarely dips over 90 or below 40 for that matter.
Who knows, only time will tell.
06-24-2007, 04:16 PM
#22
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Originally Posted by YucA' post='876012' date='Jun 24 2007, 09:39 AM
pt st lucie doing that bad bro?
It's bad, the latest statistic said that it would take 16 months to sell all of the VACANT houess on the market today at the current rate of home sales. That stat doesn't include occupied homes.
Repos EVERYWHERE, and on our street of about 20 homes, there are 7 for sale including ours. Basically i am going to rent the ****** and keep it on the market. Hope for at least the repos to fall off the market. At some point all the repos are going to repoed. Now I dunno if there will be anyone left here when that happens but i hope so.
06-24-2007, 06:20 PM
#23
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Originally Posted by phinsup' post='876070' date='Jun 24 2007, 05:16 PM
It's bad, the latest statistic said that it would take 16 months to sell all of the VACANT houess on the market today at the current rate of home sales. That stat doesn't include occupied homes.
Repos EVERYWHERE, and on our street of about 20 homes, there are 7 for sale including ours. Basically i am going to rent the ****** and keep it on the market. Hope for at least the repos to fall off the market. At some point all the repos are going to repoed. Now I dunno if there will be anyone left here when that happens but i hope so.
Just checked out Roshambo. Sounds like you've been busy.
06-24-2007, 08:31 PM
#24
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Originally Posted by 1988RedT2' post='876076' date='Jun 24 2007, 07:20 PM
Just checked out Roshambo. Sounds like you've been busy.
yea no ****, we are taking off for the bahamas for two weeks starting July 7, gonna be a ******* blast.
06-24-2007, 09:09 PM
#25
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maybe this is the time for me to look into port st luci..
2800 for property tax.. damn thats dirt cheap..
if you can make the mortagae with the rental plus a bit more on maintenance coverage..
id do it... otherwise.. id stick to sellin her.. renting can be tougher long term
your sanity will depend on the tenants you acquire.. unfortunately its the roll of the dice..
2800 for property tax.. damn thats dirt cheap..
if you can make the mortagae with the rental plus a bit more on maintenance coverage..
id do it... otherwise.. id stick to sellin her.. renting can be tougher long term
your sanity will depend on the tenants you acquire.. unfortunately its the roll of the dice..
06-24-2007, 09:53 PM
#26
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Originally Posted by amp' post='876098' date='Jun 24 2007, 10:09 PM
maybe this is the time for me to look into port st luci..
2800 for property tax.. damn thats dirt cheap..
if you can make the mortagae with the rental plus a bit more on maintenance coverage..
id do it... otherwise.. id stick to sellin her.. renting can be tougher long term
your sanity will depend on the tenants you acquire.. unfortunately its the roll of the dice..
2800 with a homestead excemption value of 140000 so i am paying taxes on 140k, keep that in mind when home shopping. Now is a time to pick up a house CHEAP, actually wait another couple months and keep an eye on things.
That said we pretty much can't sell, so we have to rent. rental market is ok, not great but ok. sales market is completely done.
06-25-2007, 10:01 AM
#27
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Originally Posted by phinsup' post='876039' date='Jun 24 2007, 10:01 AM
i haven't seena gator once since i moved here, it's hot.... but it's damn close to the bahamas and down island
rednecks and racists pretty much ruin this place, there are some nice people here don't get me wrong but there's a lot of ********.
On a side note at least we don't think our governor is a character in a movie.
thats moofie!
06-25-2007, 12:09 PM
#29
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Originally Posted by Baldy' post='876151' date='Jun 25 2007, 11:48 AM
Why is it doing so bad down there? I thought south Florida was supposed to always be a sure bet.
General weakness in the housing market coupled with a fear of hurricanes? I think also the nature of Florida real estate in particular, since resort type properties are more often bought as an investment as opposed to a primary residence. A lot of the people that bought during the recent housing boom bought on the speculation that the market would keep going up so they could buy, hold for a couple years, and sell at a profit. So a good percentage of the homes on the market now are people looking to dump a bad investment, or if not a "bad" investment, then one for which they paid too much.
06-25-2007, 05:07 PM
#30
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there's a lot of factors, but many of them local to the area. First off Florida has put itself in a tough spot with rising insurance rates and rediculous taxes. Next comes the homestead exemption, in a normal housing market a very good portion of new home sales are from existing homeowners (upgrading) in florida with the homestead exemption it's near impossible to upgrade as you will be moving from a house with fixed taxes at say..... 150k, to a new house with taxes based on the purchase price. So if your house you sell is worth 250 and you upgrade to say 350, your effective tax rate went up over 100% even though your house is worth less then 50%.
Now, onto the more local issue, houes shot up over 50% in less 3 years, over inflated house prices and a local economy that was what...? building, pretty much every job here was associated with building in one form or another at least the people who could afford the homes that were being built and sold. So what happens when building permits drop 76% in 3 months? 11,000 people get laid off and there's NO place to go work thanks to the fact that martin and st lucie county having done everything possible to keep any major employer from moving into town and employing people.
So add all that up and you have a shitload of houses on the auction block and a shitload more trying to unload their "great investment".
Eventually it will bounce back, but real estate is like any other investment, you gotta buy low and sell high, the closer to the High mark you buy, the longer it takes to realize any profit. There isnt any investment that isn't dependant on the economy either locally, nationally or internationally..
Now, onto the more local issue, houes shot up over 50% in less 3 years, over inflated house prices and a local economy that was what...? building, pretty much every job here was associated with building in one form or another at least the people who could afford the homes that were being built and sold. So what happens when building permits drop 76% in 3 months? 11,000 people get laid off and there's NO place to go work thanks to the fact that martin and st lucie county having done everything possible to keep any major employer from moving into town and employing people.
So add all that up and you have a shitload of houses on the auction block and a shitload more trying to unload their "great investment".
Eventually it will bounce back, but real estate is like any other investment, you gotta buy low and sell high, the closer to the High mark you buy, the longer it takes to realize any profit. There isnt any investment that isn't dependant on the economy either locally, nationally or internationally..