S. Florida house market takes a plunge! - GoFuckYourself.com

Forest · 07-26-2006, 07:51 AM

http://www.sun-sentinel.com/news/loc...home-headlines

"The market's done a complete 180-degree reversal," said Jack McCabe, a Deerfield Beach housing consultant. "It's a stare-down between buyers and sellers, and as time passes, the pressure's on the seller, not the buyer."

Sales fell by 34 percent last month compared with June 2005, the Florida Association of Realtors said Tuesday. It was the 24th consecutive month of declining sales in Broward.

Glad I didnt buy last december when I was looking. Looks like some decent deals are comming on the market in the next 6-12 months

Tdog · 07-26-2006, 07:53 AM

I would wait about 2 years, then you will see rock bottom prices.

gleem · 07-26-2006, 08:03 AM

I bought at the peek (cause I needed a house)

Mr. Romance · 07-26-2006, 08:05 AM

yeah nothing lasts forever

Mr. Romance

Wizzo · 07-26-2006, 08:07 AM

Good news!!! I got my eye on sweet new house here in S.Florida, but need the market to drop another 20% or so to afford it...

Though sorry for those that already own here...

Forest · 07-26-2006, 08:07 AM

Quote:

Originally Posted by Tdog

I would wait about 2 years, then you will see rock bottom prices.

well that really depends on how the economy does I would think

Ill be back in the market beginning of next year

Need to do some more repair on my credit score

KRL · 07-26-2006, 08:10 AM

The real estate markets are insane in most of the biggest cities. The average person has been priced out of the market.

You simply reach a point where the price of housing is so out of synch with the population's income and affordability factors, that the buyer base literally evaporates and you end up with panic selling as property investors try to get out with anything they can.

gooddomains · 07-26-2006, 08:11 AM

wait for the next tropic storm

BLish · 07-26-2006, 08:12 AM

prices are really going to bottom out as over $2 trillion.. that's with a "T" are about to reset their ARMs (Adjustable Rate Mortgages). you are about to see home foreclosures left and right... and that too will help to decrease home values. looks like i'll be getting that larger house that i wanted sooner than i had hoped!

oh.. and in South Florida, property values have already fallen at least 15% in some areas and as much as 20% in others. and that once white hot condo market?.... well... it's gone kaplooie!

KRL · 07-26-2006, 08:14 AM

Friend of mine just picked up a property listed for $500K for only $325K. That pretty much shows the reality of the market.

Forest · 07-26-2006, 09:19 AM

Quote:

Originally Posted by KRL

Friend of mine just picked up a property listed for $500K for only $325K. That pretty much shows the reality of the market.

Nice

im looking in the 200k-250k range

Hoping to pick up somthing for under 200k in the next year

CIVMatt · 07-26-2006, 09:20 AM

winder what our market is going to do

DateDoc · 07-26-2006, 09:31 AM

Sweet, I was thinking of moving back to Palm Beach Co.

Tylo · 07-26-2006, 09:35 AM

good I would like to get a house soon

latinasojourn · 07-26-2006, 09:38 AM

Quote:

Originally Posted by KRL

The real estate markets are insane in most of the biggest cities. The average person has been priced out of the market.

You simply reach a point where the price of housing is so out of synch with the population's income and affordability factors, that the buyer base literally evaporates and you end up with panic selling as property investors try to get out with anything they can.

exactly correct.

OG LennyT · 07-26-2006, 09:38 AM

Quote:

Glad I didnt buy last december when I was looking. Looks like some decent deals are comming on the market in the next 6-12 months

what I am thinking/hoping

pornguy · 07-26-2006, 09:39 AM

Man I hope that my friend dumped the einvestment condo that he got.

sweetcuties · 07-26-2006, 09:39 AM

Now is the time to buy... I don't have anything in FL. My friend just sold a house in Cape Coral last mth. He's holding a water lot right now. I thought about picking up something in FL, decided against it. I'm about to close on a condo in my area (investment)

If you aren't in real estate right now, GET IN IT! At least have 1 investment property and hold it

Sosa · 07-26-2006, 10:00 AM

give it a while longer and jump in and buy em up.

KRL · 07-26-2006, 10:17 AM

Quote:

Originally Posted by Sosa

give it a while longer and jump in and buy em up.

Unless incomes go up dramatically, overbuilding stops and interest rates come down, which isn't happening anytime soon, the RE market is going to stay in a depressed state or extremely marginal growth posture for many years.

Expo_Vids · 07-26-2006, 10:46 AM

Quote:

Originally Posted by Tdog

I would wait about 2 years, then you will see rock bottom prices.

I agree

crockett · 07-26-2006, 10:50 AM

I've noticed it seems the only thing that's selling here in the Daytona area is condo conversions. The house market seems to be dead.

Big_Red · 07-26-2006, 10:54 AM

Come to California. All is well here!

Rinaldo · 07-26-2006, 10:59 AM

I'm excited, there's a home here listed for 420, that 3 years ago sold for 270, If it reaches what levels it should I'll pick it up when it hits 300 or so.

DEA - banned for life · 07-26-2006, 11:04 AM

not god news for us people selling our houses

BLish · 07-26-2006, 11:23 AM

anyone every look into modular homes? not mobile homes.. but modular. basically prefab homes, built on an assembly line like mobile homes, but brought on flat beds in pieces and put on a solid foundation.

PalmHarbor Homes has some beautiful ones... and the building codes on these are unbelievable... especially for florida homes. you got a better chance of surviving in one of these in a hurricane than a site built home!

BLish · 07-26-2006, 11:28 AM

f'n double post. my bad.

Forest · 07-26-2006, 11:43 AM

Quote:

Originally Posted by BLish

anyone every look into modular homes? not mobile homes.. but modular. basically prefab homes, built on an assembly line like mobile homes, but brought on flat beds in pieces and put on a solid foundation.

PalmHarbor Homes has some beautiful ones... and the building codes on these are unbelievable... especially for florida homes. you got a better chance of surviving in one of these in a hurricane than a site built home!

to be honest living down here I would really prefer a CBS home to a mod

Just would feel safer durring a storm

Odie · 07-26-2006, 11:45 AM

gee I hope this happens in the Toronto market!!! I'm dying to buy a house in the next year!!

Kre8t0r · 07-26-2006, 12:49 PM

Guess I'll be staying here a while... BTW Forest hit me up need to talk to you!

ICQ below:

07-26-2006, 07:51 AM	#1
Forest Confirmed User Industry Role: Join Date: Aug 2001 Location: Hollywood Fl. Posts: 8,988	S. Florida house market takes a plunge! http://www.sun-sentinel.com/news/loc...home-headlines "The market's done a complete 180-degree reversal," said Jack McCabe, a Deerfield Beach housing consultant. "It's a stare-down between buyers and sellers, and as time passes, the pressure's on the seller, not the buyer." Sales fell by 34 percent last month compared with June 2005, the Florida Association of Realtors said Tuesday. It was the 24th consecutive month of declining sales in Broward. Glad I didnt buy last december when I was looking. Looks like some decent deals are comming on the market in the next 6-12 months

07-26-2006, 08:03 AM	#3
gleem Confirmed User Industry Role: Join Date: Jun 2001 Location: Sunny Land Posts: 5,593	I bought at the peek (cause I needed a house) __________________ Contact me: \\// E: webmaster /at/ unprofessional.com

07-26-2006, 08:05 AM	#4
Mr. Romance The Face of Romance and the Symbol of Freedom Join Date: Mar 2005 Location: The America's Posts: 7,821	yeah nothing lasts forever Mr. Romance __________________ Free Leads Program now paying up to $6 Gerard-Director of Global Sales Sign up Here: CamStarCash Check out: FreeCamStars ICQ: 330 662 299 gerard at freecamstars . com

07-26-2006, 08:07 AM	#5
Wizzo 2011 GFY Hall of Fame! Industry Role: Join Date: Nov 2000 Location: Back in Texas! Posts: 15,224	Good news!!! I got my eye on sweet new house here in S.Florida, but need the market to drop another 20% or so to afford it... Though sorry for those that already own here... __________________ Looking for Opportunity!

07-26-2006, 08:10 AM	#7
KRL Entrepreneur Join Date: Oct 2002 Location: USA Posts: 31,429	The real estate markets are insane in most of the biggest cities. The average person has been priced out of the market. You simply reach a point where the price of housing is so out of synch with the population's income and affordability factors, that the buyer base literally evaporates and you end up with panic selling as property investors try to get out with anything they can. __________________ If you would like to develop your domains, you can lease inexpensive foreign labor from the leaders in the field at iWebmasters.com TO LOWER YOUR COSTS AND INCREASE YOUR PRODUCTION! * * * * * * * * * * * * Domains Adult News KRL's Newsletter Biz Tips Just Listed Domains

07-26-2006, 07:53 AM	#2
Tdog Confirmed User Join Date: May 2006 Posts: 2,707	I would wait about 2 years, then you will see rock bottom prices.

07-26-2006, 08:11 AM	#8
gooddomains Too lazy to set a custom title Join Date: Jul 2003 Location: Netherlands Posts: 10,127	wait for the next tropic storm

07-26-2006, 08:12 AM	#9
BLish Confirmed User Join Date: Jun 2006 Location: USA's wang Posts: 444	prices are really going to bottom out as over $2 trillion.. that's with a "T" are about to reset their ARMs (Adjustable Rate Mortgages). you are about to see home foreclosures left and right... and that too will help to decrease home values. looks like i'll be getting that larger house that i wanted sooner than i had hoped! oh.. and in South Florida, property values have already fallen at least 15% in some areas and as much as 20% in others. and that once white hot condo market?.... well... it's gone kaplooie!

07-26-2006, 08:14 AM	#10
KRL Entrepreneur Join Date: Oct 2002 Location: USA Posts: 31,429	Friend of mine just picked up a property listed for $500K for only $325K. That pretty much shows the reality of the market. __________________ If you would like to develop your domains, you can lease inexpensive foreign labor from the leaders in the field at iWebmasters.com TO LOWER YOUR COSTS AND INCREASE YOUR PRODUCTION! * * * * * * * * * * * * Domains Adult News KRL's Newsletter Biz Tips Just Listed Domains

07-26-2006, 09:20 AM	#12
CIVMatt Amateur Pimpin Industry Role: Join Date: Aug 2004 Location: Orlando, FL Posts: 13,075	winder what our market is going to do __________________ Make easy money with Webcams

07-26-2006, 09:31 AM	#13
DateDoc Outside looking in. Industry Role: Join Date: Feb 2005 Location: To Hell You Ride Posts: 14,243	Sweet, I was thinking of moving back to Palm Beach Co. __________________

07-26-2006, 09:35 AM	#14
Tylo Confirmed User Join Date: May 2002 Location: South FL. Posts: 2,108	good I would like to get a house soon __________________ -ICQ# 119419008

07-26-2006, 09:39 AM	#17
pornguy Too lazy to set a custom title Industry Role: Join Date: Mar 2003 Location: Homeless Posts: 62,911	Man I hope that my friend dumped the einvestment condo that he got. __________________ PornGuy skype me pornguy_epic AmateurDough The Hottes Shemales online! TChicks.com \| Angeles Cid \| Mariana Cordoba \| MAILERS WELCOME!

07-26-2006, 09:39 AM	#18
sweetcuties Confirmed User Join Date: Feb 2002 Location: Somewhere Posts: 5,859	Now is the time to buy... I don't have anything in FL. My friend just sold a house in Cape Coral last mth. He's holding a water lot right now. I thought about picking up something in FL, decided against it. I'm about to close on a condo in my area (investment) If you aren't in real estate right now, GET IN IT! At least have 1 investment property and hold it __________________

07-26-2006, 10:00 AM	#19
Sosa In Tushy Land Join Date: Oct 2002 Location: Nebraska Posts: 40,149	give it a while longer and jump in and buy em up.

07-26-2006, 10:50 AM	#22
crockett in a van by the river Industry Role: Join Date: May 2003 Posts: 76,806	I've noticed it seems the only thing that's selling here in the Daytona area is condo conversions. The house market seems to be dead. __________________ In November, you can vote for America's next president or its first dictator.

07-26-2006, 10:54 AM	#23
Big_Red Confirmed User Join Date: Jun 2006 Location: Do you care? Posts: 4,147	Come to California. All is well here! __________________ 60% Revshare. http://www.boobycash.com We got the boobs and the cash! ICQ 198-580-197 24/7 support

07-26-2006, 10:59 AM	#24
Rinaldo Confirmed User Join Date: Sep 2003 Location: South Florida Posts: 5,086	I'm excited, there's a home here listed for 420, that 3 years ago sold for 270, If it reaches what levels it should I'll pick it up when it hits 300 or so.

07-26-2006, 11:04 AM	#25
DEA - banned for life V.I.P. Join Date: Nov 2004 Location: InYour Head Posts: 7,886	not god news for us people selling our houses

07-26-2006, 11:23 AM	#26
BLish Confirmed User Join Date: Jun 2006 Location: USA's wang Posts: 444	anyone every look into modular homes? not mobile homes.. but modular. basically prefab homes, built on an assembly line like mobile homes, but brought on flat beds in pieces and put on a solid foundation. PalmHarbor Homes has some beautiful ones... and the building codes on these are unbelievable... especially for florida homes. you got a better chance of surviving in one of these in a hurricane than a site built home!

07-26-2006, 11:28 AM	#27
BLish Confirmed User Join Date: Jun 2006 Location: USA's wang Posts: 444	f'n double post. my bad.

07-26-2006, 11:45 AM	#29
Odie Confirmed User Join Date: Apr 2003 Location: The WATER BABY! Posts: 7,040	gee I hope this happens in the Toronto market!!! I'm dying to buy a house in the next year!! __________________ Odie [email protected] Are you Mobile???? MMACanada ICQ # 166208354 See Who I Am At AdultWhosWho.com!

07-26-2006, 12:49 PM	#30
Kre8t0r Confirmed User Join Date: Jan 2003 Location: From Hurricane Hell to Frozen Hell Posts: 1,304	Guess I'll be staying here a while... BTW Forest hit me up need to talk to you! ICQ below: