real estate in Florida

[Maybe A Dancer]

Hold on .....

I just found out.

FLORIDA IS NOW FULL !

Please tell your friends and neighbors, especially those in NY

BEST !

RWS

 

[paulswagelock]

We traded up our florida house this year. We are still seasonal, but wanted more, bigger, …. typical path. We listed our house in December against most recommendations and it sold in 3 days. Timing is always everything. 12 other homes in our community all listed in January and only one of those sold to date. The Florida gulf coast market is definitely in a soft spot currently In both price and market duration.

 

[ttmott]

In our area on the East central coast there is a housing shortage so they are throwing up crap everywhere. The county is revenue hungry but are failing to update the infrastructure to support. Where I live the voters passed unanimously a bill to limit one home per acre about fifteen years ago. That seems to have been usurped for some reason as a bunch of high density townhouses are going up just down the road.

But all complaints aside I'm taking the boat over to the Bahamas here in a couple of days - six hours to get over there..... Gin clear 80 degree water, lonely islands, conch fields for the taking, hogfish on the grill - horrible.

My advise to those bloviating from Michigan, Ohio, Illinois, New York and wherever up there- you are right, stay where you are and enjoy your "boating season".

 

[Steve S]

Housing supply surges by up to 50% in these metro areas — and many sellers are being forced to slash their asking prices​

MSN

I was in Florida in January and visited as few builders model homes... recently I am getting weekly sales updates with may added perks including "All closing costs paid" ...

 

[ttmott]

Housing supply surges by up to 50% in these metro areas — and many sellers are being forced to slash their asking prices​

MSN

I was in Florida in January and visited as few builders model homes... recently I am getting weekly sales updates with may added perks including "All closing costs paid" ...

I think you'll find that a common issue in any desirable location. Speculative building starts are a year behind the market - who would have predicted mortgage rates up two points or more. Renters are staying where they are and owners wanting to relocate but need to finance (the bulk percentage) are holding tight. Still, where I live homes are in demand but they are generally cash buyers or buyers that have sold and looking to reinvest before they get wacked with capital gains.

 

[Woody]

Housing supply surges by up to 50% in these metro areas — and many sellers are being forced to slash their asking prices​

MSN

I was in Florida in January and visited as few builders model homes... recently I am getting weekly sales updates with may added perks including "All closing costs paid" ...

Maybe the 300,000+ 'Newcomers' that have been delivered to FL in the last year or so are having an impact?

 

[Stee6043]

Housing supply surges by up to 50% in these metro areas — and many sellers are being forced to slash their asking prices​

MSN

I was in Florida in January and visited as few builders model homes... recently I am getting weekly sales updates with may added perks including "All closing costs paid" ...

That link was a good read. For this northerner, I found the comment on insurance to be very interesting:

 

[Stray Current]

Hold on .....

I just found out.

FLORIDA IS NOW FULL !

Please tell your friends and neighbors, especially those in NY

BEST !

RWS

Tell MichiHioNois. At least NY/NJ people know how to put their foot in the throttle on a green light

But yeah, Full! I should’ve locked the gate behind me

 

[ttmott]

That link was a good read. For this northerner, I found the comment on insurance to be very interesting:

View attachment 163053

Just renewed mine last month - nice place on the water on the coast - $3870. Includes wind mitigation at a 5% deductible. Does not include Flood which is FMEA - that was $800.
Flood insurance isn't mandatory unless you should live in a designated flood plain and have a mortgage.

What I find interesting is the cost of auto insurance - one of the highest in the nation for some reason.....

25 years ago Florida went through another insurance crisis and cracked hard down on the underwriters and carriers plus formed a state run insurance underwriter which worked fine and was reasonable but then Bill Nelson the state insurance administrator (yes the Senator and NASA Administrator and astronaut) F'd things up for the people that lived in Florida and the insurance companies began to run ramped. The deal was the insurance companies couldn't pick and choose what and what not to insure but they now do spin-off companies to pick the profitable but declare they are leaving Florida.
It's odd (maybe not) that when things are grossly profitable the companies are here in droves but when risk is called they declare destitute. Heaven forbid we would want insurance to mitigate risk.

Anyhow, when the cost of living is summed up Florida is still on top - not that we want anymore people here.....