honobob
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The futures so bright I gotta wear shades!
Branesgotfirm, How'd ya figger that?
Branesgotfirm, How'd ya figger that?
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Sarasota, FL
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honobob
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I just have yet to figure out how he transports himself so quickly between SF and FL.
LEVERAGE?
Moemg
Gone but not forgotten
There are a lot of condos close to Siesta Key but not oceanfront for good prices .
kcowan
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Yabbut Siesta Key is really low end. Lido Key and Longboat Key are the desirable keys.
Moemg
Gone but not forgotten
I have to disagree with you . Longboat is the desirable Key if you are 80 and want to live in a highrise . If you are still active and looking for life Siesta Key or Anna Marie Island are the place or downtown Sarasota and as for Lido Key except for St. Armand's Circle why would anyone want to live there ? You may be referring to Bird Key which is an ultra expensive community close to Lido which is also great if you are 80 with a young cabana boy .
kcowan
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Yes I was thinking of St. Armand's Circle and also the 50 somethings who happily owned in Longboat. I agree that those other keys are cheaper and so have more under 50s in them and more young kids rather than teenagers.
Other than biking through it, I have no particular experience re Bird Key.
Other than biking through it, I have no particular experience re Bird Key.
BunsGettingFirm
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Thanks for the insult. I'm not going to stoop to your level. It's WSJ's prediction, not mine.
honobob
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Oh get over it. If the rate of decrease is declining is it going up or down?
That was the WSJ's prediction. Your interpretation was what was in question, but I guess you were making sure your interpretation of the facts would lead someone to believe what you wanted them to believe. Insult not intended just questioning your figgering. You can dish and take it, right? Anyway it's a great day, you're a great guy, and the RE market is coming back strong!!
Moemg
Gone but not forgotten
If you are coming to Florida in October may I recommend late Oct. The hurricane season is usually over and the weather is great warm but not beastly hot ,uncrowded beaches and great prices . Sarasota is very nice . Lots of sidewalk cafes ,jazz clubs ,good restaurants , an interesting art district , lots of yuppies or want to be yuppies live there . It's smaller than Tampa but has pretty much all the same amenties . Tampa is an easy hour drive from Sarasota . Coming from Boston there are a lot of towns in Florida you'd find lacking but Sarasota is not one of them.
BunsGettingFirm
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Oh get over it. If the rate of decrease is declining is it going up or down?
Anyway it's a great day, you're a great guy, and the RE market is coming back strong!!
Hobnob, the rate of price decline could be slowing, but that doesn't mean price is not going down. It just means price decline is slowing. The article pretty much admits that we will continue to see price declines for the next year, just not at the whopping rates that we have seen in the recent past. WSJ is grasping at straws to paint a rosy picture. My prediction is that price will continue to decline for the next 6-12 months. Is this a great time to buy? Of course, with the caveat that your offer takes into account the general consensus of continued, though not as dramatic, price declines.
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lazygood4nothinbum
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nationcity & global insights has come out with their may u.s.a. housing report.
it shows sarasota down 26% from it's 2005 peak and currently 4.8% undervalued.
it also shows fort lauderdale & west palm beach as being at about fair value (ft laud 6% overvalued & wpb 2.5% undervalued while just a few other cities are still somewhat overvalued like miami by 27% or asheville at 25.9% or atlantic city way overvalued still by 56%.
here is full report: http://tinyurl.com/69otn9
it shows sarasota down 26% from it's 2005 peak and currently 4.8% undervalued.
it also shows fort lauderdale & west palm beach as being at about fair value (ft laud 6% overvalued & wpb 2.5% undervalued while just a few other cities are still somewhat overvalued like miami by 27% or asheville at 25.9% or atlantic city way overvalued still by 56%.
here is full report: http://tinyurl.com/69otn9
Moemg
Gone but not forgotten
Thanks Lazy , Interesting chart !
BunsGettingFirm
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Thanks for the report, Lazy. Remember though that irrational exuberance has an ugly cousin named irrational negativity. Irrational negativity could run for a bit until people realize that houses in some places have been beaten down past their fair value.
I'm looking at some decent looking condos in Ybor City. To rent the condo would cost $800-$1000 a month. To buy the place out right, $85k. That's just crazy.
I'm looking at some decent looking condos in Ybor City. To rent the condo would cost $800-$1000 a month. To buy the place out right, $85k. That's just crazy.
Moemg
Gone but not forgotten
That is the problem of looking at real estate without knowing the area. I would think $ 85 k great but I know the area and Ybor City is a newly semi cleaned up area of Tampa . Fun clubs but lots of crime and on the border of a really unsafe area .
Rich_by_the_Bay
Moderator Emeritus
I think that's accurate. But then, it's also perennially on the brink of respectability, has some great residential architecture, and has already seen the arrival of substantial numbers of artsy folks, a thriving if small gay community, and upscale restaurants all of which are harbingers of good things in many cities. To its north is Tampa Heights, and beyond that Seminole Heights - both up and coming, some on the river, etc.
Yes, caveat emptor, and probably a safer bet for those with a 10 year horizon. It's the ones who get in early and smart who will eventually make out well.
lazygood4nothinbum
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bum, i also feel that my area has dipped below where it should be. but that remains hard to judge until credit loosens up so buyers can purchase again.
happens i'm just back from another roadtrip to daytona beach and tampa where i checked out the heights and stopped for lunch in ybor city. i think rich is right, that this area will not come into its own until the next boom which i'd give more than 10 years. maybe 15 to 20. while there is huge potential, there's also an awful lot of work to be done there. so while i could certainly get in early, by the time it pays off i'll be in my 70s and won't care. photogram detailing pricing to follow in separate threads on tampa and later one on daytona.
happens i'm just back from another roadtrip to daytona beach and tampa where i checked out the heights and stopped for lunch in ybor city. i think rich is right, that this area will not come into its own until the next boom which i'd give more than 10 years. maybe 15 to 20. while there is huge potential, there's also an awful lot of work to be done there. so while i could certainly get in early, by the time it pays off i'll be in my 70s and won't care. photogram detailing pricing to follow in separate threads on tampa and later one on daytona.
Moemg
Gone but not forgotten
Thanks for the updates . It has been a few years since I've been there . Maybe we'll take a ride . I love the architecture of the Columbia restaurant there.
Rich_by_the_Bay
Moderator Emeritus
If you do, PM me and we can meet up for brunch, lunch, whatever. There's a nice creperie type place we can show you.
lazygood4nothinbum
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it's closed on monday's. i was sooo upset.
Haven't been to Sarasota in 30 years, but it scared the s#!t out of me for the barely-contained ambient racial animosity: horrible, violent threats and shouting matches erupting out of nowhere from a blue sky. Never seen anything like it either before or since (even in the "Deep South," which I'm told Florida is not). I assume it has improved since then?
Moemg
Gone but not forgotten
I've lived in Sarasota County for ten years and while it is a far cry from the ultra liberal attitude I was used to I haven't witnessed any vilent threats or shouting matches .
lazygood4nothinbum
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it's everywhere. a neighbor of mine commented just the other day on our upcoming new (his words) "n word" president. he doesn't want another four years of bush but he is afraid that a black president will give, in his words, the "n-words too much to celebrate".
It's not possible to speak of Sarasota County as a monolithic entity. There are slums, farmland, beaches, lily-white gated communities, etc.
BunsGettingFirm
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Moemg and Rich are both right. Lazy already clued me on Ybor as a long bet. I streeview walked through the entire place, and the area north of the expressway is kind of iffy.
The things Rich mentioned are leading indicators of an area under revival. I have seen it in Philly's Manuyunk. Fifteen years ago, nobody would dare walk through that place, but the artsy types saw the old industrial buildings as cheap lofts, then small galleries opened, and then restaurants. Urban yuppies such as myself finally "discovered" the place. Now the only crime you have to commit is beating some existing resident silly so that you can get a place.
The things Rich mentioned are leading indicators of an area under revival. I have seen it in Philly's Manuyunk. Fifteen years ago, nobody would dare walk through that place, but the artsy types saw the old industrial buildings as cheap lofts, then small galleries opened, and then restaurants. Urban yuppies such as myself finally "discovered" the place. Now the only crime you have to commit is beating some existing resident silly so that you can get a place.
