Hi Chris, insightful video as always! After watching this, Felix and I can't help but to walk away feeling even more grateful and pleased that we took the plunge when we did, and being able to call the sunshine state our home. It's definitely an oasis of freedom.
Another detailed informative video by Chris. It certainly appears that Florida is becoming the new California in terms of home prices. People need to recalibrate their thinking with that mindset. $2M doesn’t buy much along the coast in California, I would expect the Florida coast to approach that point soon, and not go down.
Informative video. In regard to the Spanish/Italian style homes being out of style in Lakewood Ranch, isn't there a HUGE market for homes in the two Esplanade Lakewood Ranch communities, Azario and Golf and Country Club? In Azario, for floorplans like the Lazio and Pallazio, for example, I'm seeing prices continue to skyrocket. Am I missing something?
Not as much from the exterior design as the interior. Try putting a dark green and taupe spotty granite countertop with wood-colored cabinets (very common to what you'd find in Legacy CC) next to a home with white cabinets and white/grey quartz. Esplanade has blended the two styles together successfully. Additionally, they've incorporated deeper browns, greys and blues into their tiles.
@@soldbyrise I could be missing something, but it sounds like older homes in general will have that interior look you described--whether they are Mediterranean style of not. A newly built home in Esplanade Azario will have, of course, the Mediterranean style look with modern interior finishes. My point is, from observing the huge price increases on these new builds, it appears these are desirable homes. Is this true in your estimation?
Ultimately this is a hypothetical question given the inventory crisis and investor overload. In a time where investment properties are being sold for a 4.5cap when interest rates are 5% and yet people are still paying the money, "desirable" isn't really the word I use when people just want a piece of dirt they own. With that said, my bet is that if you put the style of Lakehouse Cove or The Isles LWR next to Esplanade and asked which one was of greater value, Esplanade loses more often than not.
21:40 Interest rates won't kill your market as you say ( even though the FED is going 0.5 this week, not 0.25 ) but job cuts will, if they happen. I agree, buyers will continue to over pay in the face of higher rates. They are paying way over asking now. If they get even a break from the bidding wars, they will continue to line up. But if the FED gets its way, and we see some people lose some jobs ( for example, Robinhood dismissing 50% of their workforce ), that could let some air out of the bubble.
Lots to unpack that we could talk all afternoon on - but I would challenge I never stated that interest rates would kill the market around 21:40. I did say, however, that there is still pent up demand and people with a lot of cash to still spend. Additionally, Europe is gradually joining the conversation as well, which will add to the fire. I do see (since posting this and the fed raising rates) a lot of the luxury market dropping their prices to respond to jumbo loan interest challenges, and I also see the 600-800k range having a higher days on market average. Doesn't really matter if the house still sells high, but it's just an interesting note. We'll see how it all shakes out.
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Hi Chris, insightful video as always! After watching this, Felix and I can't help but to walk away feeling even more grateful and pleased that we took the plunge when we did, and being able to call the sunshine state our home. It's definitely an oasis of freedom.
You guys got in at the perfect time! I've got to get out there and see the new splash pad this summer.
Another detailed informative video by Chris. It certainly appears that Florida is becoming the new California in terms of home prices. People need to recalibrate their thinking with that mindset. $2M doesn’t buy much along the coast in California, I would expect the Florida coast to approach that point soon, and not go down.
Thanks @Joe, agreed!
❤ great videos! Where are you ? No more videos
Informative video. In regard to the Spanish/Italian style homes being out of style in Lakewood Ranch, isn't there a HUGE market for homes in the two Esplanade Lakewood Ranch communities, Azario and Golf and Country Club? In Azario, for floorplans like the Lazio and Pallazio, for example, I'm seeing prices continue to skyrocket. Am I missing something?
Not as much from the exterior design as the interior. Try putting a dark green and taupe spotty granite countertop with wood-colored cabinets (very common to what you'd find in Legacy CC) next to a home with white cabinets and white/grey quartz. Esplanade has blended the two styles together successfully. Additionally, they've incorporated deeper browns, greys and blues into their tiles.
@@soldbyrise I could be missing something, but it sounds like older homes in general will have that interior look you described--whether they are Mediterranean style of not. A newly built home in Esplanade Azario will have, of course, the Mediterranean style look with modern interior finishes. My point is, from observing the huge price increases on these new builds, it appears these are desirable homes. Is this true in your estimation?
Ultimately this is a hypothetical question given the inventory crisis and investor overload. In a time where investment properties are being sold for a 4.5cap when interest rates are 5% and yet people are still paying the money, "desirable" isn't really the word I use when people just want a piece of dirt they own.
With that said, my bet is that if you put the style of Lakehouse Cove or The Isles LWR next to Esplanade and asked which one was of greater value, Esplanade loses more often than not.
21:40 Interest rates won't kill your market as you say ( even though the FED is going 0.5 this week, not 0.25 ) but job cuts will, if they happen. I agree, buyers will continue to over pay in the face of higher rates. They are paying way over asking now. If they get even a break from the bidding wars, they will continue to line up. But if the FED gets its way, and we see some people lose some jobs ( for example, Robinhood dismissing 50% of their workforce ), that could let some air out of the bubble.
Lots to unpack that we could talk all afternoon on - but I would challenge I never stated that interest rates would kill the market around 21:40. I did say, however, that there is still pent up demand and people with a lot of cash to still spend. Additionally, Europe is gradually joining the conversation as well, which will add to the fire. I do see (since posting this and the fed raising rates) a lot of the luxury market dropping their prices to respond to jumbo loan interest challenges, and I also see the 600-800k range having a higher days on market average. Doesn't really matter if the house still sells high, but it's just an interesting note. We'll see how it all shakes out.