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Thanks, PG&E!
https://www.newsweek.com/florida-house-prices-slashed-multiple-cities-1887185
Florida House Prices Slashed in Multiple Cities
Florida is not going to have a "collapse" in real estate prices, because they've already gone up 100% in a few years.
6) With prices coming down, more and more homeowner's that have mortgages will find that they are 'upside down' on their mortgages. Look for foreclosures to come back in a big way in the next 12-18 months.
What happens to the FLA homeowners if they 'bought' at or near the peak and prices come down to say, 20%
I'm beating a dead horse, but I have a bunch of friends in Santa Cruz who have houses and no money.
They sometimes brag about their houses being worth a lot of money.
https://fortune.com/2024/05/01/is-south-florida-housing-market-bubble-real-estate/
Study finding South Florida homes are 35% overvalued sparks bubble worries: ‘This trend does concern me’
Another office space in the building. Only $400 cash flow, but only $110k at full list. Reinvest the cash flow over 2-3 decades and inflation and it would have been a low risk $500k to who knows what above that by the time I'm 60-70.
WookieMan says
Another office space in the building. Only $400 cash flow, but only $110k at full list. Reinvest the cash flow over 2-3 decades and inflation and it would have been a low risk $500k to who knows what above that by the time I'm 60-70.
So is office space building the best investment in commercial real estate? If not, then what is?
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2015 - Sold For $155k
2/8/2019 Sold $209,000
Now? Asking $400,000
So we're to believe in 4 years, that this house legit went up almost double. Or in a decade went up almost triple.
Another one:
https://www.zillow.com/homedetails/3802-Sunbeam-Ct-Merritt-Island-FL-32953/43404282_zpid/?mmlb=g%2C13
11/25/2013 Sold
$193,500
-3.2%
$98/sqft
2/14/2023 Listed for sale
$514,900
+166.1%
$261/sqft
Source: DBAMLS #1105834 Report a problem
Both of these houses were minimally updated. The first one was built in the 1960s.
I got half dozen more examples. Here's another, it was just under $250k in what looks like a Steelolanogranite Realtor Flip Special in 2019, before COVID. It was purchased late 2018 for under $172k. Now they want almost $500k for it just 5 years later.
https://www.zillow.com/homedetails/356-W-Dover-St-Satellite-Beach-FL-32937/43448773_zpid/
If you're curious, check out Palm Bay and Melbourne on the mainland. 1950s/1960s Space Program small cinderblock specials, some with no Central Air, are going for almost the same as brand new construction much larger and more modern.