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Post by Sandbur on Mar 23, 2022 9:56:35 GMT -6
From a real estate perspective everything seems to be about 50-100k overpriced in this area? Who knows ? Still a lot of construction in the area. I would say everything everywhere is 100-200k overpriced right now. Or us old curmudgeons are living in the past. I am not sure which it is yet.
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Post by MoBuckChaser on Mar 23, 2022 12:29:17 GMT -6
Biggest problem is even if you don’t mind paying the extra 200k for a retirement home in AZ or Florida., it will be two years before you get to move in it takes them so long to build right now. Paying the extra cash for an existing home you like would be a better way to go if possible. But they don’t last long here when they come on the market.
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Post by smsmith on Mar 23, 2022 13:29:23 GMT -6
Biggest problem is even if you don’t mind paying the extra 200k for a retirement home in AZ or Florida., it will be two years before you get to move in it takes them so long to build right now. Paying the extra cash for an existing home you like would be a better way to go if possible. But they don’t last long here when they come on the market. I know nothing about AZ real estate. I do know that the type of homes my wife and I have been looking at for the last 3-4 years in SW FL have increased in price by anywhere from 40-60% in that time span. Sad to say, the time to buy in FL is after a hurricane. People are flocking to FL in droves right now. They'll be leaving in droves after the next big hurricane. The "ebb and flow" of coastal FL real estate is well documented. Lots of people get rich on real estate in FL, and lots of people lose their shorts.
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Post by MoBuckChaser on Mar 23, 2022 13:37:53 GMT -6
Biggest problem is even if you don’t mind paying the extra 200k for a retirement home in AZ or Florida., it will be two years before you get to move in it takes them so long to build right now. Paying the extra cash for an existing home you like would be a better way to go if possible. But they don’t last long here when they come on the market. I know nothing about AZ real estate. I do know that the type of homes my wife and I have been looking at for the last 3-4 years in SW FL have increased in price by anywhere from 40-60% in that time span. Sad to say, the time to buy in FL is after a hurricane. People are flocking to FL in droves right now. They'll be leaving in droves after the next big hurricane. The "ebb and flow" of coastal FL real estate is well documented. Lots of people get rich on real estate in FL, and lots of people lose their shorts. The new thing here now is bidding competition on lots. Even if they have 100’s of lots ready to sell, the developers will only release a few. Then we get 50 knuckle heads to start bidding on them through a silent bid process. Then they take the top ten idiots that want to overpay for a lot and have them rebid for the lot again, driving the prices even higher. Lots like ours are now double in just two short years because of the frenzy. $140,000 lot is now $280,000. It’s fucked up right now. I would say stay away until this shit crashes.
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Post by smsmith on Mar 23, 2022 14:16:38 GMT -6
I know nothing about AZ real estate. I do know that the type of homes my wife and I have been looking at for the last 3-4 years in SW FL have increased in price by anywhere from 40-60% in that time span. Sad to say, the time to buy in FL is after a hurricane. People are flocking to FL in droves right now. They'll be leaving in droves after the next big hurricane. The "ebb and flow" of coastal FL real estate is well documented. Lots of people get rich on real estate in FL, and lots of people lose their shorts. The new thing here now is bidding competition on lots. Even if they have 100’s of lots ready to sell, the developers will only release a few. Then we get 50 knuckle heads to start bidding on them through a silent bid process. Then they take the top ten idiots that want to overpay for a lot and have them rebid for the lot again, driving the prices even higher. Lots like ours are now double in just two short years because of the frenzy. $140,000 lot is now $280,000. It’s fucked up right now. I would say stay away until this shit crashes. I would agree completely.
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Post by Sandbur on Mar 23, 2022 14:28:19 GMT -6
Biggest problem is even if you don’t mind paying the extra 200k for a retirement home in AZ or Florida., it will be two years before you get to move in it takes them so long to build right now. Paying the extra cash for an existing home you like would be a better way to go if possible. But they don’t last long here when they come on the market. Are existing homes for resale bringing a better price than a comparable new home that you can’t move into for two years? On new home construction, are they locking in a price or is there some clause about increased cost of materials? I am not buying anyway.
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Post by MoBuckChaser on Mar 23, 2022 15:07:15 GMT -6
Biggest problem is even if you don’t mind paying the extra 200k for a retirement home in AZ or Florida., it will be two years before you get to move in it takes them so long to build right now. Paying the extra cash for an existing home you like would be a better way to go if possible. But they don’t last long here when they come on the market. Are existing homes for resale bringing a better price than a comparable new home that you can’t move into for two years? On new home construction, are they locking in a price or is there some clause about increased cost of materials? I am not buying anyway. Used to be cheaper to build. Was for me anyways. But now everything is high.
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Post by buckvelvet on Mar 24, 2022 6:45:53 GMT -6
People are flocking to FL in droves right now. I'd wager that has something to do with their Governor is a bad ass.
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Post by smsmith on Mar 24, 2022 6:51:36 GMT -6
People are flocking to FL in droves right now. I'd wager that has something to do with their Governor is a bad ass. Absolutely. No state tax and freedom from government tyranny is bringing east coasters big time. Once they live through a few FL summers, a bad hurricane or two, and start missing family functions many will return to the northeast. That's the time to buy in FL.
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Post by nhmountains on Mar 24, 2022 8:54:41 GMT -6
I'd wager that has something to do with their Governor is a bad ass. Absolutely. No state tax and freedom from government tyranny is bringing east coasters big time. Once they live through a few FL summers, a bad hurricane or two, and start missing family functions many will return to the northeast. That's the time to buy in FL. It's like planting a tree. The best time was 10 years ago.
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Post by MoBuckChaser on Mar 24, 2022 11:13:03 GMT -6
I'd wager that has something to do with their Governor is a bad ass. Absolutely. No state tax and freedom from government tyranny is bringing east coasters big time. Once they live through a few FL summers, a bad hurricane or two, and start missing family functions many will return to the northeast. That's the time to buy in FL. No state tax is over shadowed by all the other higher than normal taxes and fees unfortunately. Property taxes for one.
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Post by smsmith on Mar 24, 2022 18:26:46 GMT -6
Insuring your home/property in FL right now is a huge issue. Lots of insurers won't write policies there. Those that do are charging exorbitant rates.
We've already decided we won't be buying there. Likely won't be buying anywhere for that matter. We'll remain as lowly renters for our vacations. We did just book 2 consecutive weeks next February about 175' from the Gulf on Manasota Key. We looked and looked and everything we wanted was booked until 2024. A new place hit the market and we booked it. It too is now completely booked for 2023. Crazy times in FL. I do think a person can still find some places to rent for June, July, August. If you're willing to stay inland further there's still plenty of places available fall/winter/spring too.
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Post by MoBuckChaser on Mar 25, 2022 5:43:28 GMT -6
Insuring your home/property in FL right now is a huge issue. Lots of insurers won't write policies there. Those that do are charging exorbitant rates. We've already decided we won't be buying there. Likely won't be buying anywhere for that matter. We'll remain as lowly renters for our vacations. We did just book 2 consecutive weeks next February about 175' from the Gulf on Manasota Key. We looked and looked and everything we wanted was booked until 2024. A new place hit the market and we booked it. It too is now completely booked for 2023. Crazy times in FL. I do think a person can still find some places to rent for June, July, August. If you're willing to stay inland further there's still plenty of places available fall/winter/spring too. Smart man. This is looking more like 2007/08 all over again. You may get a 70% discount on the retirement house of your dreams coming soon.
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Post by Bwoods11 on Mar 25, 2022 6:41:06 GMT -6
Insuring your home/property in FL right now is a huge issue. Lots of insurers won't write policies there. Those that do are charging exorbitant rates. We've already decided we won't be buying there. Likely won't be buying anywhere for that matter. We'll remain as lowly renters for our vacations. We did just book 2 consecutive weeks next February about 175' from the Gulf on Manasota Key. We looked and looked and everything we wanted was booked until 2024. A new place hit the market and we booked it. It too is now completely booked for 2023. Crazy times in FL. I do think a person can still find some places to rent for June, July, August. If you're willing to stay inland further there's still plenty of places available fall/winter/spring too. Smart man. This is looking more like 2007/08 all over again. You may get a 70% discount on the retirement house of your dreams coming soon. We have driven around and walked some neighborhoods in Florida , it really does feel like 2008/09. I don’t think it will be as bad, but it appears many homes are owned by investors. When they bail, then things will get interesting.
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Post by MoBuckChaser on Mar 25, 2022 6:46:56 GMT -6
Smart man. This is looking more like 2007/08 all over again. You may get a 70% discount on the retirement house of your dreams coming soon. We have driven around and walked some neighborhoods in Florida , it really does feel like 2008/09. I don’t think it will be as bad, but it appears many homes are owned by investors. When they bail, then things will get interesting. Time will tell. But it appears we are building hundreds of thousands of dollars of false equity into our homes in the shortest ever time frame that any of us has ever seen. It ain’t going to end well.
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