Believe me I know the deal down here real well. This is one screwed up state tax wise.
Mr Housing Bubble
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Believe me I know the deal down here real well. This is one screwed up state tax wise.
haha
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It's likely that this median price is heavily tilted toward the far suburbs. I doubt there is a house in the city anywhere close to this price, except in neighborhoods where you take your life in your hands getting out of your car.
It will be intersting to see if Microsoft is recession resisitant this time around. Layoffs there, even composed solely of contractor non-renewals would make a real dent in both housing sales demand and apartment demand.
Ha
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brewer12345
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Well, if you have good credit and a significant downpayment, you can now get a jumbo loan. But be prepared to pay 8% plus 2 points up front.
Brat
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Eh... DD has her house on the market in the Bay Area. Buyers must have huge (by my standards) down payment to even begin an offer. For example, $650,000 + a $400,000 mortgage. Yipes!
lazygood4nothinbum
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if you are going to downsize and can afford the "downsized" taxes on save our home as currently in effect, then you'd better do it before soh is voted out and superhomestead is voted in if that indeed will be the verdict.
after the vote, soh will only exist for those who purchased before the vote. after the vote there will be only superhomestead for new purchasers, even if you previously had soh on the house you sell. there is no portability built into the proposed amendment.
so you can keep your soh value or you can opt for super on your existing homestead. if you change homestead after the vote you will only have super and will lose completely your soh cap.
Momeg, I've owned my house in Fla. for over 4 years but only homesteaded this year. In this case it would pay for me to take the super because SOH is no help to me because of the already inflated prices. But this is only if the people of Florida vote for this on Jan 29th of next year. If not, square one!
lazygood4nothinbum
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every police & fire department as well as every school board is against it.
No doubt, it's just free money that they get to spend. If it passes they have less to blow on raises and other things.
haha
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Recent Video of Robert Shiller on Housing Bust
Paul Kedrosky: Robert Shiller: "Less Bearish" On Housing
Shiller says he is "Somewhat less bearish", but doesn't sound particularly convinced.
Ha
Paul Kedrosky: Robert Shiller: "Less Bearish" On Housing
Shiller says he is "Somewhat less bearish", but doesn't sound particularly convinced.
Ha
Geeze, good to know. DW and I are toying with buying a new house next spring. Now I know that I'm not in the market for anything over $418,000 + the equity in my current home, which I hope is still north of 200k.
brewer12345
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Geeze, good to know. DW and I are toying with buying a new house next spring. Now I know that I'm not in the market for anything over $418,000 + the equity in my current home, which I hope is still north of 200k.
Rates will come back down, probably sooner than later. The prime jumbo first mortgage space is the first non-conforming part of the market to start coming back, so prices will start dropping soon. Just be patient.
tryan
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Here's a good read for all the FL readers:
http://www.sptimes.com/2007/08/26/news_pf/Business/Down__but_not_out___I.shtml
Our local market (north of Boston) seems to be holding around 15-20% off the 2005 highs. Will test this with my next vacancy ... stay tuned.
http://www.sptimes.com/2007/08/26/news_pf/Business/Down__but_not_out___I.shtml
Our local market (north of Boston) seems to be holding around 15-20% off the 2005 highs. Will test this with my next vacancy ... stay tuned.
Moemg
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Interesting article .It seems here in Sarasota the high end market is dead but lots of sales in the 300 range .
tryan
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Yeah, seems the high end condo market is pretty saturated ... what's shocking is that MORE is being built. What are these builders SMOKING?
I can't help but feel these official numbers on prices (down only 2%?) are deceptive, at least locally. A security guard at work just bought his first home, a condo. When I asked how he could afford it ( in a round about way) he mentioned he got it for just over 200k with a ton of incentives thrown in. His flooring, cabinets, counters, etc. are all better than mine! And just a year ago there were condos for sale in a much worse neighborhood (borderline dangerous) starting at 300k - and these were refurbished apartments. At least here in San Diego, things have crashed pretty hard.
califdreamer
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Based on the few sales in my neighborhood here in the San Diego area, I estimate my house is down roughly 8 to 10% from its peak. My guess is it'll head down another 5% or 10% of its peak value as it hits bottom. Of course, if the economy tanks all bets are off.
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lazygood4nothinbum
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as to as how far an area has dropped you can't go at all by medium price. my house was appraised above medium which peaked at about $425k but now while the medium is supposedly $380 but i'd be lucky to get $325 or $350k. hell, with all of no one buying i'd be lucky to get $225k.
same thing with are of the inherited house. if you just look at medium price then the area only lost maybe 15%. but try to sell a house today and you'll find the bottom twice as far down.
same thing with are of the inherited house. if you just look at medium price then the area only lost maybe 15%. but try to sell a house today and you'll find the bottom twice as far down.
tryan
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lazygood4nothinbum
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how about googling the often quoted goodkin and see how many pages you find on this self-promoter.
then check out Workout group capitalizes on downturn - South Florida Business Journal: for this quote:
"They join a select group of local big-money players - such as Lewis Goodkin of Lewis Goodkin Consulting in Miami, and Jack McCabe of McCabe Research & Consulting in Deerfield Beach - who not only monitor and advise the real estate market for developers and lenders, but also participate as vulture fund advisors."
ok, it's not all roses, life rarely is. but ya think maybe guy is just wee bit of a self-serving doomsdayist?
Texas Proud
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What get's me is that the $585,000 ONE bedroom condo is 'only' worth $439,000 (75%)....
I just can't see 'only' as the word I would use for such a high price, even at the low value....
When they get down to say $125,000.... maybe I would think about buying.. (but, for a one bedroom.... not),,
I just can't see 'only' as the word I would use for such a high price, even at the low value....
When they get down to say $125,000.... maybe I would think about buying.. (but, for a one bedroom.... not),,
