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Florida Housing market ?????

Old 02-27-2021, 06:22 AM
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Originally Posted by billinstuart View Post
Spray and Airbrush:
Where ya gonna move? Sell high, buy high, you're not ahead. Homestead portability can help if you downsize. Packing/moving is a bitch though.

I'm selling my property on Merritt Island. Too much dam work. Plus, Airbrush and I are in safe conservative areas. Spray, not sure about Orange county area for you.

Anyone want 2 acres with Indian River access on Merritt Island?
Bill: Some grove property came open with 5 acre parcels. The land is literally across the road from my subdivision. My wife says no and I'm still thinking but we all know how that goes.

(And, yes, it makes no sense at all to increase the workload at home. That's what boats are for.)
Old 02-27-2021, 06:23 AM
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It wont be like the last crash .... Interest rates will creep up and home values will sit stagnant for years ...

Some would argue to buy now (even at inflated pricing) because debt is so cheep ...

Old 02-27-2021, 06:35 AM
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Originally Posted by airbrush View Post
A buddy of mine made a full price cash offer on a house in Vero Beach within minutes of it hitting multiple listing. Within hours there were several additional offers. It looks like it will end up being a bidding war. I guess there aren't any rules restricting that. At any rate, I'm contemplating putting ours up for about 200-300K over what I think realistic is - and just wait to see what happens. Just a thought.
That is exactly my experience in Vero. I tried for months but gave up on Vero and bought in PSL. I saw one listed at 6:00pm, immediately scheduled a viewing for 8:00am but it was sold sight unseen at 6:02pm. I had one sell while I was in it (listing realtor texted mine while we were in the house), and several well over asking price offers beat. One was listed multiple times about 30% over appraisal value. I liked the house and asked the realtor if the seller would have to com back to reality at some point? She said, nope, they said they are waiting for a cash buyer, sure enough it was sold for what they wanted a couple weeks later.

That all ended up working out better for me, I ended up with a brand new house in PSL for less than a beater in Vero for the same money.

It's so bad in Vero that I have clients refuse to give me the address to the properties they are potentially buying because they fear they will be bought out from under them. I've had a few make me meet them at their current homes and follow them to the one they are interested in. The second I nod my head at the one they are looking at, they call their realtor and have their pre-signed offer submitted. I was on the phone with someone who wanted me to meet me immediately at a house that just got listed, she was on the other line with her realtor and coordinating a time to meet at the property. We agreed on one hour from then and hung up. She called me back 3 minuets later and said never mind, it was sold already. It's crazy around here.....
Old 02-27-2021, 07:26 AM
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Originally Posted by teqmod View Post
Biggest thing IMHO is the forbearance and moratorium on foreclosures. People are living in houses and not paying for it. Biden has extended this until the end of June for foreclosures. Once the banks start trying to collect again there will be people pushed out and this will bring prices back down as well as add inventory.
I do think this will be a real thing. You get this and higher interest rates it may be time to think about buying again.
Old 02-27-2021, 08:07 AM
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Originally Posted by Marlin308 View Post
Just remember if you sell at the peak of the market, you also have to buy something else at the peak of the market.
Yep. We are about to list our Lauderdale, deep water home in a nice neighborhood very soon. New owners will get a thoroughly updated, cute little Florida home with a NEW kitchen (stickers are still on!), new flooring, new doors, fresh paint in/out and even the garage was painted!

We have interviewed a waterfront specialist with Coldwell Banker in Lauderdale and he assured us that it will sell 'right away', either to empty nesters or for rental income. It will be the least expensive home in a gorgeous neighborhood.

We haven't even signed a contract with him and he already wants to bring people over!!

So, our awesome Realtor in Stuart, Fla (who helped us buy a condo up there 2 years ago) will help us find one last waterfront home up there. With little inventory, we will need one finger on the trigger and the other on our bank account........ and we know and understand that.

She texted me the other day: "I had a buyer have his bro look at a house and he paid $1.1 million, sight unseen for a house asking $950k. He made it a strong offer to keep counter offers away. He got the house."

And all this bragging about getting a full offer? To me, that means that people aren't asking enough!
Old 02-27-2021, 08:23 AM
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Originally Posted by CORALREEFER View Post
I'm no realtor but it sounds like she should dump those lookers and find some buyers!
Hell yes, you want to sell?
Old 02-27-2021, 09:05 AM
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Originally Posted by Gary M View Post
Yep. We are about to list our Lauderdale, deep water home in a nice neighborhood very soon. New owners will get a thoroughly updated, cute little Florida home with a NEW kitchen (stickers are still on!), new flooring, new doors, fresh paint in/out and even the garage was painted!

We have interviewed a waterfront specialist with Coldwell Banker in Lauderdale and he assured us that it will sell 'right away', either to empty nesters or for rental income. It will be the least expensive home in a gorgeous neighborhood.

We haven't even signed a contract with him and he already wants to bring people over!!

So, our awesome Realtor in Stuart, Fla (who helped us buy a condo up there 2 years ago) will help us find one last waterfront home up there. With little inventory, we will need one finger on the trigger and the other on our bank account........ and we know and understand that.

She texted me the other day: "I had a buyer have his bro look at a house and he paid $1.1 million, sight unseen for a house asking $950k. He made it a strong offer to keep counter offers away. He got the house."

And all this bragging about getting a full offer? To me, that means that people aren't asking enough!
What are you looking for? How big, how much?
Old 02-27-2021, 09:09 AM
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Originally Posted by billinstuart View Post
What are you looking for? How big, how much?
Probably a 3/3 or larger. On the water, east of the big bridge.....
Old 02-27-2021, 12:29 PM
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Originally Posted by Gary M View Post
Yep. We are about to list our Lauderdale, deep water home in a nice neighborhood very soon. New owners will get a thoroughly updated, cute little Florida home with a NEW kitchen (stickers are still on!), new flooring, new doors, fresh paint in/out and even the garage was painted!
How are you going to price your home? Market value with open to offers? set a high price from the beginning? other pricing strategy?
Old 02-27-2021, 05:30 PM
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Listed yesterday in NY...

39 showings between then and tomorrow. Only 5 offers so far, but expecting at least a few more tomorrow. 4/5 over asking, knowing it will go best and final. Im not sure it will appraise so Im hoping for a cash offer, but so far all are financing contingent.
Old 02-27-2021, 05:53 PM
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People will NOT stop fleeing tax heavy states. Those states are in financial ruin and it doesn't matter who is in office that won't change.
NJ, CA, NY , etc. are all blights to the rest of the states.
Old 02-27-2021, 06:04 PM
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Sellers market here-been that way for some years now. Really went nuts with covid-Its called the Zoom factor for working folks and for us it both that an the retirement factor moving to where there are less people.We are in a part of the sate with no people and lots of trees and ocean.No crowds
Old 02-27-2021, 06:06 PM
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Originally Posted by Bob1957 View Post
People will NOT stop fleeing tax heavy states. Those states are in financial ruin and it doesn't matter who is in office that won't change.
NJ, CA, NY , etc. are all blights to the rest of the states.
The applicants I see here in FL are coming from NY, NJ & CO in that order. CA might just be too far away from here. I'm sure people are fleeing CA at the same rate as the others mentioned.
Old 02-27-2021, 06:27 PM
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rising rates will increase inventory - we all know what happens then.
Old 02-27-2021, 06:28 PM
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I put our house up in st cloud for 230 and thought I was 10 over market and got a cash offer within an hour and 7 others within 24 hours hours 5 over cash with 20k down that night. Could sell cause the house I was trying to buy sold. ( another story on that deal but learned realtors are scum bags)
Old 02-27-2021, 06:59 PM
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Originally Posted by Bob1957 View Post
People will NOT stop fleeing tax heavy states. Those states are in financial ruin and it doesn't matter who is in office that won't change.
NJ, CA, NY , etc. are all blights to the rest of the states.
Im selling in NY now and it is a fairly active sellers market here too. People are fleeing NYC which is where my buyers are coming from. Im possibly fleeing NY... possibly not. Ill know in a few weeks!
Old 02-27-2021, 07:58 PM
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Just closed on selling another home I had in Fort Myers since 09. Bought it from a flipper, paid cash.
Just sold it for close to three times what I paid for it. Ran it as a VRBO vacation rental for the last 7 years. New yorkers bought it. Three days on the market, full price plus 5 k for the furniture. Win win.
The housing bubble will burst here in the next 10 to 12 months. I'll be patient & snag up a cpl more.
Old 02-27-2021, 08:20 PM
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I found the perfect lot to build us a "forever" home on, was planning on reaching out to the owners (wasnt lsited for sale) and see if they were willing to sell, then covid wrecked everything last year. With the growth that we have had here the lot is probably priced way out of my price range now. Should have reached out to them 2 years ago like planned, **** covid.
Old 02-27-2021, 09:17 PM
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Originally Posted by ole_blue View Post
I put our house up in st cloud for 230 and thought I was 10 over market and got a cash offer within an hour and 7 others within 24 hours hours 5 over cash with 20k down that night. Could sell cause the house I was trying to buy sold. ( another story on that deal but learned realtors are scum bags)
That sucks, sorry to hear that! Exactly why I asked for realtor recommendations here so as to try and avoid that! I'm not putting our place on the mrkt until May, so I'll see how it goes!
Hope & pray everything works out for you!
Old 02-27-2021, 09:21 PM
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Originally Posted by clear View Post
I found the perfect lot to build us a "forever" home on, was planning on reaching out to the owners (wasnt lsited for sale) and see if they were willing to sell, then covid wrecked everything last year. With the growth that we have had here the lot is probably priced way out of my price range now. Should have reached out to them 2 years ago like planned, **** covid.

Shoulda, coulda, woulda. I have a LOT of those stories, with the exception of one!
This craziness won't last forever. Be patient and that property might very well be available in a few short months for what you intended to pay!

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