Spanky
Thinks s/he gets paid by the post
broward county, florida ...
This area is also expensive. Check out this place.
2501 Mercedes Dr.
Fort Lauderdale, FL 33316
$15,500,000
5 Bedrooms
7(full) 5(half) Baths
broward county, florida ...
Spanky said:2501 Mercedes Dr.
JPatrick said:Some interesting reading about the FL market.
http://globaleconomicanalysis.blogspot.com/2006/07/ghost-housing-market.html
Shortage of Waterfront - Our most valuable homesites are waterfront. We are fortunate in our area to have a beautiful Atlantic Ocean coastline, as well as three beautiful wide water rivers, The Indian River, The St. Lucie River and the Ockeechobee Waterway. But there are a limited number of homes and condos available, and far more demand from buyers. Prices for waterfront homes and condos are running ahead of the general market.
Baby Boomers Control - There is no other way to say it. This year Baby Boomers turn 60, and they are starting to retire and plan for retirement. They are not retiring to Canada or Chicago or even New York. They retiring to Las Vegas, Phonenix and Florida, with more than 60% of them estimated to be headed to Florida. That's millions and millions of new buyers that want to spend the rest of their lives relaxing in their waterfront home in Florida.
JPatrick said:Some interesting reading about the FL market.
http://globaleconomicanalysis.blogspot.com/2006/07/ghost-housing-market.html
JPatrick said:Some interesting reading about the FL market.
http://globaleconomicanalysis.blogspot.com/2006/07/ghost-housing-market.html
Laurence said:People stretch themselves too far, don't understand what they are getting into, and when they get burned they beat up their agents and vandalize other peoples homes? Nobody is ever at fault for their own mess. Barf. It's only going to get uglier.
This reminds of the real-estate market in Hong Kong and Shang Hai, China not too distant ago. A lots of people became rich and those who came into the game lost their shirt. When will we ever learn?brewer12345 said:
Spanky said:This reminds of the real-estate market in Hong Kong and Shang Hai, China not too distant ago. A lots of people became rich and those who came into the game lost their shirt. When will we ever learn?
brewer12345 said:Actually, I think such (mis)behavior will be short lived. In another 6 months or less, I think people will be resigned to a weak market. That's when banks will be getting a lot of sets of keys in the mail...
youbet said:I know you mean this figuratively, but so no one gets confused......... Folks, underwater in their homes, who drop by the bank and toss the keys to the mortgage loan officer still wind up being foreclosed on, taking the credit ding and all that bad stuff........ Turning over the keys to the bank doesn't get you out of the obligation to pay off the mortgage loan, even if the current selling price is less than you owe. Sad stuff.......
honobob said:Strong luxury condo sales and the only reason SFR sales are down is because of no inventory.
That's why I skeptable of them figgers and graphs.
Call me Honobull
wab said:But you might want to consider this: when nobody can afford to enter the market (no inventory!?), where is the pool of upgrade buyers going to come from? And do you think there's any chance that those new condo buyers might be (gawd forbid) flippers?
brewer12345 said:Yup. And the recent changes to the BK law make it more likely that the lender will go after the defaulted borrower for the difference between the proceeds from the sale of the house and the amount owed.
Martha said:Maybe not. Some states allow a quicker and easier foreclosure process if the lender gives up a deficiency. Most states provide that if you take a deed in lieu of foreclosure you must give up the deficiency. Most often the lender goes for speed. Often lenders just want to get the loan off their books.
Martha said:Another reason to believe that the housing bubble is bursting. This thread has had 10743 views as of this post.
Martha said:Another reason to believe that the housing bubble is bursting. This thread has had 10743 views as of this post.