This is not good advice.You also did not touch on the fact home owners insurance in many areas of the state have double and property insurance doing the same. Couple this with mortgage rates sitting nearly at double digits unaffordability is at levels never seen before. A 400k house will cost you over 1.1 million over the life of the loan. Those numbers are getting worse as valuations continue to push taxes up.
I appreciate your feedback. I did mention in the video that it insurance rates are pushing up cost .. with that being said I mentioned all the larger ( macro ) reasons WHY people ( in my opinion ) will still be moving to FL and the upward pressure that will result on property values . Genuinely appreciate your comment
Insurance is an issue yet I think it will get ironed out in the next few years .. Florida will certainly stack up differently to other states Depending on the state you are comparing it to .. Whats most important to the owner will pull them or push them away from the state.. thank you for the comment 🙏
@@express6719 interesting perspective . From my perspective of being in the business for over 20 years is that homeowners that go fsbo net on average 8% less than people who listed with a realtor . Added to that a lot less hassle and less room for litigation.. this is after 20 years in the business and seeing how frustrated people get with everting that goes into finding a buyer for thier home as well as actually closing without litigation snags 😊
I've noticed something in Brevard County and Indian River County. A lot of homes are going up for sale now. However, the prices are very high and the sellers aren't willing to drop the price. Hence, all of the 'For Sale' signs staying up for longer periods of time. Another thing I noticed is that the transplants from up north coming down here don't want an existing home. The majority of them are having new homes built. Hence, all of the empty lots being built on right now. So is the market crashing in Florida? No. Will it crash like 2008? No. Will there be a dip in the coming years? Yes, but not by much.
Thanks for analysis! Absolutely Inventory has risen over the last few months for sure . The really interesting thing is that values ( price per sq foot sold has not dropped ) .. I’ve never seen this before . That being said we did see a drop in inventory in March . We’ll see how these trends unfold in the coming months . Few questions . Where are you obtaining your data from and do you think the Fed will lower in the coming months ?
Good morning yes that’s a good encapsulation of what’s going on. I think the single-family home market is going to still continue to stay strong well the condo and attached Unit Market should take a little time to adjust but I don’t think it’s anything major.
the only reason condo prices are lower in florida is because most of them are 40+ years old and falling apart… if you want an average newish condo its 500k+ for a 2 bedroom
My intention was to show that the single family home market for inventory is actually lower than state average over last 15 years , however the condo market is putting a bit of pressure on the overall market by increased inventory. We’ll see how it all shakes out however, the main reasons that people are moving to Florida seem to be staying static, so I think it increased immigration from outside states and Florida is going to keep the market healthy. Thanks for your comment man I appreciate it.
It's the spill over effect that is going to create mother of all crashes. We are seeing contingent offers with longer days on market which is going to cause a lot of stress. Also if young people cannot sell condo why will they move to single family ? Mother of all crashes coming....
This is a interesting perspective . So much of one’s ability to to sell is wether one has equity in the property . At this point we are not seeing a dramatic lowering of values . In some areas prices are dropping but not values ( yet ) .Do you think if the federal reserve starts to lower interest rates this will have an positive effect on the market ?
Hi , I mentioned the insurance costs and as result a rise in inventory in the condo market as a result . I also believe that in time the insurance issue will be resolved with more competition
Sounds good in your mind doesn’t it…… open your eyes… there is more that 5 million in pre foreclosure right now guess where a lot of that 5 million is … I’m come back to this video next year this time
Time will tell . All I can do is look at the current data that is in front of me . Your correct pre foreclosure s are up .. that being said 1 year ago we were at an all time low for foreclosures.. so didn’t take much to move up .
Interesting perspective.. I’ve often thought that for nearly all the 20 years I’ve been in the business .. then I look at California and other than 2008 -2010 values have not dropped . Do you think the federal reserve lowing interest rates will push prices higher?
I hear people leaving Florida as they realized it’s becoming unaffordable with increasing assessments, hoas, property taxes, crowding. Home values are way too high and people are starting to put their foot down. Good for them ! I feel sorry for Floridians with the New Yorkers coming. Red state is going to become blue like Arizona did. People just aren’t smart and don’t learn. Don’t move to Florida!!
Affordability certainly has become an issue that being said there are areas of Florida that have much more affordable homes with lower insurance and lower taxes. You just need to ask the right questions and look in the right areas. Thanks for the comment.
Good morning. It could look like that yes however I tried to let people know that I bought and therfore not asking others to do what I won’t do myself . Thank you for the comment.
I don't believe any of the fools talking about the realestate market crashing in Florida. It certainly is adjusting downward, but crashing is nonsense. You could easily type in any state you want and find the same kind of BS. Its all click bait.
Agreed a lot of the channels out there that are talking about a market crash seem to be getting the most views yet. I’m just not seeing that and I wanted to show that the data indicates there is not a crash.
Why don't you be honest with people. You made a terrible mistake. There are 18,400 homes for sale in Lee County alone. Prices are sinking. Mobile home owners pay 1400 a month.
I’m simply showing the numbers I don’t know how there can be anything untruthful about that ? Also the net migration into FL is higher than any other State in the union . Costs certainly are up yet.. people just love living here in FL and honestly just don’t see that changing ?
I don't believe any of the fools talking about the realestate market crashing in Florida. It certainly is adjusting downward, but crashing is nonsense. You could easily type in any state you want and find the same kind of BS. Its all click bait.
I agree I go out and look at the channels that are getting a lot of views in the majority of them are talking about a market crash.. I just don’t see it and I wanted to show the data that would indicate we are not going to crash. I appreciate your comment man.
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This is not good advice.You also did not touch on the fact home owners insurance in many areas of the state have double and property insurance doing the same. Couple this with mortgage rates sitting nearly at double digits unaffordability is at levels never seen before. A 400k house will cost you over 1.1 million over the life of the loan. Those numbers are getting worse as valuations continue to push taxes up.
I appreciate your feedback. I did mention in the video that it insurance rates are pushing up cost .. with that being said I mentioned all the larger ( macro ) reasons WHY people ( in my opinion ) will still be moving to FL and the upward pressure that will result on property values . Genuinely appreciate your comment
how about the house insurance? how about property taxes? yeah, i ain't moving to Florida.
Insurance is an issue yet I think it will get ironed out in the next few years .. Florida will certainly stack up differently to other states Depending on the state you are comparing it to .. Whats most important to the owner will pull them or push them away from the state.. thank you for the comment 🙏
Asking a realtor if it’s a good time to buy a house. Next I’ll ask a butcher if I should eat meat.
If you are in the market to buy the data hopefully is helpful to someone looking to make an informed decision 👍
@@express6719 interesting perspective . From my perspective of being in the business for over 20 years is that homeowners that go fsbo net on average 8% less than people who listed with a realtor . Added to that a lot less hassle and less room for litigation.. this is after 20 years in the business and seeing how frustrated people get with everting that goes into finding a buyer for thier home as well as actually closing without litigation snags 😊
I've noticed something in Brevard County and Indian River County. A lot of homes are going up for sale now. However, the prices are very high and the sellers aren't willing to drop the price. Hence, all of the 'For Sale' signs staying up for longer periods of time. Another thing I noticed is that the transplants from up north coming down here don't want an existing home. The majority of them are having new homes built. Hence, all of the empty lots being built on right now. So is the market crashing in Florida? No. Will it crash like 2008? No. Will there be a dip in the coming years? Yes, but not by much.
Thanks for analysis! Absolutely Inventory has risen over the last few months for sure . The really interesting thing is that values ( price per sq foot sold has not dropped ) .. I’ve never seen this before . That being said we did see a drop in inventory in March . We’ll see how these trends unfold in the coming months . Few questions . Where are you obtaining your data from and do you think the Fed will lower in the coming months ?
Everything is crashing in Florida. Glad i got out years ago.
Thanks for the reply . I thought the analysis showed the market is not crashing ?
If you got out years ago you missed the market almost doubling.
@@kylegrant9980 true statement. Thanks for the comment Kyle 👊
We're glad you got out too
@@gfish9636 Florida is not perfect yet in all honesty I can’t imagine living anywhere else 👍
Single Family Homes seem to be selling. Homes and condos with pricey HOA fees of $500-$1500 a month is hurting those properties.
Good morning yes that’s a good encapsulation of what’s going on. I think the single-family home market is going to still continue to stay strong well the condo and attached Unit Market should take a little time to adjust but I don’t think it’s anything major.
Insurance tripling, property taxes doubling, Assessments skyrocketing??? Hello
Yes costa are going up for everything.. that being said home values ( even condos ) are not going down . Time will tell. Have a great day man 🙏
the only reason condo prices are lower in florida is because most of them are 40+ years old and falling apart…
if you want an average newish condo its 500k+ for a 2 bedroom
Thanks for comment ! We actually have brand new condos / townhomes in our area under $400,000 😁
@user-bs2ok3yv8i100% truth
looks at literally data that suggests everything that is wrong and is just like nahhhh this is bullish
My intention was to show that the single family home market for inventory is actually lower than state average over last 15 years , however the condo market is putting a bit of pressure on the overall market by increased inventory. We’ll see how it all shakes out however, the main reasons that people are moving to Florida seem to be staying static, so I think it increased immigration from outside states and Florida is going to keep the market healthy. Thanks for your comment man I appreciate it.
Great topic to cover. Really put everything into perspective. Awesome video as always!
Good to hear that it brought to light what’s going on and as always Thanks for the comment Stephanie !
It's the spill over effect that is going to create mother of all crashes. We are seeing contingent offers with longer days on market which is going to cause a lot of stress. Also if young people cannot sell condo why will they move to single family ? Mother of all crashes coming....
This is a interesting perspective . So much of one’s ability to to sell is wether one has equity in the property . At this point we are not seeing a dramatic lowering of values . In some areas prices are dropping but not values ( yet ) .Do you think if the federal reserve starts to lower interest rates this will have an positive effect on the market ?
You completely neglected to discuss the insurance escalations
Hi , I mentioned the insurance costs and as result a rise in inventory in the condo market as a result . I also believe that in time the insurance issue will be resolved with more competition
Sounds good in your mind doesn’t it…… open your eyes… there is more that 5 million in pre foreclosure right now guess where a lot of that 5 million is … I’m come back to this video next year this time
Time will tell . All I can do is look at the current data that is in front of me . Your correct pre foreclosure s are up .. that being said 1 year ago we were at an all time low for foreclosures.. so didn’t take much to move up .
Yeah but no income tax in Florida has always been the case... THE MARKET IS OVER PRICED
Interesting perspective.. I’ve often thought that for nearly all the 20 years I’ve been in the business .. then I look at California and other than 2008 -2010 values have not dropped . Do you think the federal reserve lowing interest rates will push prices higher?
I hear people leaving Florida as they realized it’s becoming unaffordable with increasing assessments, hoas, property taxes, crowding. Home values are way too high and people are starting to put their foot down. Good for them !
I feel sorry for Floridians with the New Yorkers coming. Red state is going to become blue like Arizona did. People just aren’t smart and don’t learn.
Don’t move to Florida!!
Affordability certainly has become an issue that being said there are areas of Florida that have much more affordable homes with lower insurance and lower taxes. You just need to ask the right questions and look in the right areas. Thanks for the comment.
Of course the realtor suggests continuing to buy.
Bias video series.
Good morning. It could look like that yes however I tried to let people know that I bought and therfore not asking others to do what I won’t do myself . Thank you for the comment.
I don't believe any of the fools talking about the realestate market crashing in Florida. It certainly is adjusting downward, but crashing is nonsense. You could easily type in any state you want and find the same kind of BS. Its all click bait.
Agreed a lot of the channels out there that are talking about a market crash seem to be getting the most views yet. I’m just not seeing that and I wanted to show that the data indicates there is not a crash.
Why don't you be honest with people. You made a terrible mistake. There are 18,400 homes for sale in Lee County alone. Prices are sinking. Mobile home owners pay 1400 a month.
I’m simply showing the numbers I don’t know how there can be anything untruthful about that ? Also the net migration into FL is higher than any other State in the union . Costs certainly are up yet.. people just love living here in FL and honestly just don’t see that changing ?
AVERAGE people CAN'T afford the AVERAGE house. How's that math mathin?
Thank you for the comment . What does “ average “ mean to you ?
@@lisouthflorida the average price of a house sold..
@@lisouthflorida you can use the median price as well doesn't change anything
Essentially there are not enough numbers of households that make enough money to continue to buy houses at these prices it's just simple math
@@michaelm1573 it’s getting tough out there for sure . That being said where there is a will there is a way . Thanks for your comments man 👊
you are Clueless my friend, got any used cars for sale??
Man I appreciate that ! Your feedback on my “cluelessness “ is great ! Keep up with the positivity 👍
I don't believe any of the fools talking about the realestate market crashing in Florida. It certainly is adjusting downward, but crashing is nonsense. You could easily type in any state you want and find the same kind of BS. Its all click bait.
I agree I go out and look at the channels that are getting a lot of views in the majority of them are talking about a market crash.. I just don’t see it and I wanted to show the data that would indicate we are not going to crash. I appreciate your comment man.