Hey Ben!!! Whatever the market is, ( Yes the HOA's from checking our fav areas are Crazy, glad we didn't purchase ).........Just got back from a 7 day Sanibel Stay, lucked out with the weather,,,,,....... We Wish You and Your Loved Ones a Merry Christmas and Happy New Year!!! Hoping for a Better New Year ;). Alex
I don't think those condo owners in Punta Gorda should have any problem paying for the increase HOA fees. They've been under paying for years. That neighborhood looks like it has all kinds of money.
I just looked at ground level canal homes in longboat key and the asking is 1.2mm which must be lot value because 5 hurricanes with massive surge is a game changer for the whole West Coast of Florida!
HOAs are required to have millions in reserves. 3mill from what I understand. Since there is at least 3 mill siting in a bank account every month. Where does the interest go that is paid out by bank to that account with the 3 mill in it? I asked the board this and no one can answer. how about a video on that. please
Lawyer here- READ your bylaws to determine if reserves can be placed in an interest account- most can but most HOA directors are ignorant about creative ways to create additional reserves- easier to raise fees as reactionary - bringing it up in the next meeting must be documented and discussed- if not, can treasurer and president
@@JT-yl7my My point is you cannot even have a checking account with that much in it and not be paid interest. The bank does not even give you that option they just pay interest because there is so much in there every month. This is for my dad. Im just tired of a bunch of old people being taken advantage of.
My personal experience in the reason I'm not going down this winter is quite frankly what's the point? My place got taken out with hurricane Ian which is now 2 years ago and that area is still devastated not worth visiting. Last season I was in Tampa St Pete area once again they got hit by a hurricane a lot of Devastation in St Pete why bother going? It takes years for these communities truly to get back to where they were... Fort Myers is a prime example, two years and they're still not normalized so why bother going there you have to give it time to get back to normal. And unfortunately especially when talking about Fort Myers area,normal is never going to happen because it's being taken over now by the rich combined with the fact that they ruined Estero island with that damn Margaritaville. What an ugly monstrosity that is- AND right at the entrance to the island!!! how much did they pay off the politicians to allow that to happen. Dead Island is so narrow that Margaritaville is not something that should be allowed anywhere on the island no matter if it's at the entrance or at the other end or Bonita that island is just not big enough wide enough for that piece of crap monster monstrosity to be allowed
@@bensellin If that's the case why so many houses listed for sale, but very few buying? If it's more crowded where are they buying them when sales down inventory up?
@@bensellin I believe the demographics here support the lower educated and low wage workers Florida is known for. The real money is in S. Florida. So many people here are going belly up on the slow train. After many years in SoCal this is painful to see how far these people have fallen. 99% of these people cannot afford or participate in the Trump economy.
Y’all need to read the room. Employers aren’t hiring and some companies have gone almost entirely automated, like Klarna. No workers=no proof of income for banks to approve home loans. And even those who are still employed can’t afford the listing prices and are petrified of being eliminated at any moment. What faith does that engender to take up a 30-year mortgage? News flash: It doesn’t. Billionaires/millionaires are poised to snatch up your homes at rock-bottom prices and then, when they’ve gotten their fill, rehire workers to drive demand for housing. It sounds cruel… but this is exactly what happened in our last Depression. This is just the way things are. Buying a home is an investment. *NOT* a guarantee.
Evening Ben, thanks much for the good insights into what's going on down there, a quick question? With the raft of foreclosures/ short sales that are posted and pending all over SW/ SE Fla, how can these builders expect to sell anything in these new SFh/ Twnhm/ Cndo developments? They are still building, do the developers know something we don't? Thanks again for the information, Cheers.
Thanks! Personally I believe that the builders want to align themselves to be the best deal around. If we do see a wave of short sales and foreclosures they may need work and some may be very cost-prohibitive to insure.
Have you heard about these inspections required for condos that are 3 stories and up? 25 years old on the water and 30 years or older everywhere else. Inspection requests must be made by 12/31/24.
hi ben my place on marco has went up in value which is great one next to us sold for 300,000 more then we payed mine is 500 square foot bigger and nicer so i think were setting good we had to starte paying the reserve in 2025 for new condo law even know were only 3 year old building
I dont think i'll ever fully understand how someone who cannot even compose a simple paragraph can afford a newer condo on Marco Island. Where did I go wrong???
Bennie, when you say Sales price dropped 31%, OK, does that mean that low cost houses are the ones that are selling, OR, has the Sale price come down from asking? Stats are always hiding something, so I gotta ask.
I can't see how it won't. The election bump in consumer confidence has already evaporated. If rumors are true, people are buying things this month instead of next summer due to tariffs.
What they pretty much do is build and build andget areas re-zoned, and then things slow down and they leave things empty for a while then they come back. They have no long-term vision.
I have to put in my two cents about your comments about how it's now a buyer Market I usually like your comments and agree with you but in this case I am surprised. As a long time realtor you should know that the price is coming down the way they are is not a surprise at all matter of fact it should be expected. Florida California Texas parts of Arizona we're all poster children of massive increases during the pandemic when everybody was moving and everybody was buying homes that were expensive because they had zero to 3% interest rates they were getting free government money etc etc etc. Florida in particular their houses were 45% AND MORE above where they should have been so you have to expect them to come down now. And on top of that all the Hurricanes we've had in the last 2+ years- of course prices are coming down and it's a buyer's market. Please stop making videos where you say wow this is amazing,unheard of,when you know it was going to happen you and that it was just a matter of time for reality to settle in
"Buyers market" is a technical term classifying market conditions, not a call to action to purchase. Apologies if you've seen 100 plus percent increases in listings and double digit price declines before, but I have not so I react raw and accordingly.
The lack of vacation rental inventory from the storms in the south have created a bigger demand for condos in places like PCB which is always good anyway. Even with the assessments and fees I’m still netting over a $1000 a month profit. Why would I want to sell?
Great content, but your thumbnails could be more eye-catching to attract even more viewers! Let me know if you'd like help designing thumbnails that stand out!
If it really were an undisputed fact, rather than the guesswork it actually is, would banks still be giving out 30 year mortgages to properties that are "doomed"?
@@geckster109 most properties in Florida aren’t doomed. They are High Risk. There is a difference to properties close to the ocean and under the sea level to properties in general Florida. Take New Orleans Louisiana almost nobody gonna be building in New Orleans because it’s sinking.
The big question is, are condo owners paying their assessment? For any number of reasons, collections might start to be in arrears. Once this starts, future buyers in those properties will start to dry up.
Honestly from what I've seen most can handle it so far. They usually break it up over time and installments if possible and some unit owners have assessment insurance which covers it. Though I imagine it is tough for many
@@geckster109 The condo management will (usually) NOT disclose condo financials to a "stranger"! I tried to get this info on 3 condos I was interested in and was refused. I talked to a few residents who I saw near the pool and was told that there was a $30,000 assessment due in a few months!! The realtor told me that sellers were obviously NOT going to disclose this info and risk not selling their condo unit. Buyer beware.
Again your the Darth Vader of the Florida real estate industry If the temple is falling Why are these areas improving their infrastructure?? More condos and apartments being built in Cape Coral , more Lee county hospital facilities being built ? I want to know why ??
Not sure how to take that one? Lol. I mean, just because prices are falling doesn't mean the world is ending. Will probably make more people move to these locations if anything as they become more affordable. So bring on the upgrades.
It's clear the condo model, once exposed by the events of recent years, is a failing one. It simply makes no financial sense to buy one now that reality has come into the picture. The only people who should consider one is someone is the "money is no object" class (Wall Street crooks or tattoo parlor owners, both of whom can print unlimited quantities of money, no matter what is happening economically). When your mortgage is an afterthought compared to everything else, it means you haven't bought anything and the treadmill not only will not stop, it will speed up with the passage of time.
I dont get your point. Clearly you are targeting the rising HOA costs in your nonsensical rant, but can you please share which Florida market you are in where the costs of single family home ownership havent also increased dramatically within the past few years? Or do you own one of those "magic homes" that never have higher taxes, cost of insurance, costs of utilities, and get free exterior landscaping and maintenance? I think there are still situations that modest condo ownership is a fantastic fit for certain people of ordinary means. You will never escape rising property taxes, insurance, maintenance or utility bills no matter what type of dwelling you aspire to live in, unless you live in a cardboard box.
@@geckster109 I suggest you change your name. Red Herring would be a fitting screen name. The only thing you said that makes sense it your initial "I don't get your point" statement because it's clear you don't. The rest of your argument is the very definition of Red Herring. Look up the term. My comment was on condos and NOTHING ELSE!! I owned several condos over the years and the last one was a 400-unit Miami high-rise which I was President of for the last 3 years, where I went from owning my home, to my home owning ME. Let's just say I was in the thick of it and the changes were and still are dramatic. Many condos are on their way to financial failure and private equity vultures will scoop them up when they finally hit the wall financially, structurally, etc. Condos fail because their initial lure of simple lifestyle and low cost of upkeep are the selling points, UNTIL you can no longer continue in that manner. Modest condo ownership, as you call it eventually reaches the point of needing cost prohibitive structural work. At that point, it is essentially worthless (you know, kind of like you). But to cross into red herring territory, all home ownership is becoming pointless. I'm done with it. I'm not going to let everyone in the world stick a needle in my arm to draw blood. Fuck that.
@@geckster109 I suggest you change your name. Red Herring would be a fitting screen name. The only thing you said that makes sense it your initial "I don't get your point" statement because it's clear you don't. The rest of your argument is the very definition of Red Herring. Look up the term. My comment was on condos and NOTHING ELSE!! I owned several condos over the years and the last one was a 400-unit Miami high-rise which I was President of for the last 3 years, where I went from owning my home, to my home owning ME. Let's just say I was in the thick of it and the changes were and still are dramatic. Many condos are on their way to financial failure and private equity vultures will scoop them up when they finally hit the wall financially, structurally, etc. Condos fail because their initial lure of simple lifestyle and low cost of upkeep are the selling points, UNTIL you can no longer continue in that manner. Modest condo ownership, as you call it eventually reaches the point of needing cost prohibitive structural work. At that point, it is essentially worthless (you know, kind of like you). But to cross into red herring territory, all home ownership is becoming pointless. I'm done with it. I'm not going to let everyone in the world stick a needle in my arm to draw blood. Fuck that.
@@bensellin you should be warning them of a generational peak in FL housing prices. early birds out get the best price. there will be more boomers leaving us (naturally end of life) by the end of this decade than those moving to FL
Oh no doubt its going to be tough to replace the age demographic. Thats why i think prices adjusting would be a good thing. Could give younger gens an opportunity and hopefully more industry follows.
Why would you assume all his followers are sellers? Many people watch this guy as potential buyers. He is simply spitting facts with data to back him up. Your conjecture is just that. Where is your data?
@@geckster109 I assume most of his followers are clueless like u n him. Conjecture? Lol. Go look up the demographic data. RE cycle US long 15 yrs Peak to peak Got extended by COVID ... COVID boom is COVID trap . FL is generational peak. Real estate 101 don't by when ownership cost is higher than rental rates .. it's call cash flowing positive. RE is so easy but too many dumb people like yourself
I am at the beginning of my "investment journey", planning to put 385K into dividend stocks so that I will be making up to 30% annually in dividend returns. any good recommendation on great performing stocks or Crypto will be appreciated.
As a newbie investor, it’s essential for you to have a mentor to keep you accountable. Ruth Ann Tsakonas is my trade analyst, she has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns.
I managed to grow a nest egg of around 120k to over a Million. I'm especially grateful to Adviser Ruth Ann Tsakonas, for her expertise and exposure to different areas of the market..
I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $200k passively by just investing through an advisor, and I don't have to do much work. Inflation or no inflation, my finances remain secure. So I really don't blame people who panic.
Without a doubt! Ruth Ann Tsakonas is a trader who goes above and beyond. she has an exceptional skill for analysing market movements and spotting profitable opportunities. Her strategies are meticulously crafted on thorough research and years of practical experience.
how would you recommend i enter the crypto market? I am also looking at studying some traders and copying their strategy rather than investing myself and losing money emotionally. What's your take on this approach? and How can i reach her, if you don't mind me asking?
Been watching some donkey kong level shit in Upper Wisc and the UP. What some sellers think their properties are worth is funny as F. Now seeing some massive price cuts. So much more to fall. 2025 should see massive unraveling.
Thank you to our host. Good content. Well reasoned. Well presented
Much appreciated!
Everyone forgets that it costs extra to live in “paradise” so get used to it😂🎉.
Thanks for the good information, keep us informed
Hey Ben!!! Whatever the market is, ( Yes the HOA's from checking our fav areas are Crazy, glad we didn't purchase ).........Just got back from a 7 day Sanibel Stay, lucked out with the weather,,,,,....... We Wish You and Your Loved Ones a Merry Christmas and Happy New Year!!! Hoping for a Better New Year ;). Alex
Thanks Alex! Same to you!
I don't know what part of Florida this is happening in, but my town is more crowded than ever. Thousands of new houses being built
Same here 😅
The rent is too damn high!
H O A
I don't think those condo owners in Punta Gorda should have any problem paying for the increase HOA fees. They've been under paying for years. That neighborhood looks like it has all kinds of money.
Waiting for a 30 % price decrease in S E florida. What's the benefit of leaving a seasonal rental empty, even if your rent doesn't cover all expenses.
Tampa is down too. $125K for a 1/1 with a pool, $165K 2/2
Is that before or after the price drop?
Is that in a crime area? 😅
Great channel and info as always...🍻
Thanks 👍
Mr Ben, property taxes were reduced in many Florida county's during the financial crisis property assessment. How about a Video?
I just looked at ground level canal homes in longboat key and the asking is 1.2mm which must be lot value because 5 hurricanes with massive surge is a game changer for the whole West Coast of Florida!
Sellers are clueless. They will learn. Those who are desperate to sell will lead the way down on prices.
@@allanbauer4076that’s the thing, there’s not that many desperate people 😂
Merry Christmas 🎄🎁 maybe we’ll get a property tax cut for Christmas in Lee County
What a beautiful neighborhood you’re walking through!
Punta Gorda Isles
HOAs are required to have millions in reserves. 3mill from what I understand. Since there is at least 3 mill siting in a bank account every month. Where does the interest go that is paid out by bank to that account with the 3 mill in it? I asked the board this and no one can answer. how about a video on that. please
Lawyer here- READ your bylaws to determine if reserves can be placed in an interest account- most can but most HOA directors are ignorant about creative ways to create additional reserves- easier to raise fees as reactionary - bringing it up in the next meeting must be documented and discussed- if not, can treasurer and president
@@JT-yl7my My point is you cannot even have a checking account with that much in it and not be paid interest. The bank does not even give you that option they just pay interest because there is so much in there every month. This is for my dad. Im just tired of a bunch of old people being taken advantage of.
I had to push my ignorant senior board members to put the reserves in a money market account to get interest. They finally did it 2 years ago.
@@getfujkdthe interest goes back to the condo association in reserves under line item interest earned which is taxable.
My personal experience in the reason I'm not going down this winter is quite frankly what's the point? My place got taken out with hurricane Ian which is now 2 years ago and that area is still devastated not worth visiting. Last season I was in Tampa St Pete area once again they got hit by a hurricane a lot of Devastation in St Pete why bother going? It takes years for these communities truly to get back to where they were... Fort Myers is a prime example, two years and they're still not normalized so why bother going there you have to give it time to get back to normal. And unfortunately especially when talking about Fort Myers area,normal is never going to happen because it's being taken over now by the rich combined with the fact that they ruined Estero island with that damn Margaritaville. What an ugly monstrosity that is- AND right at the entrance to the island!!! how much did they pay off the politicians to allow that to happen. Dead Island is so narrow that Margaritaville is not something that should be allowed anywhere on the island no matter if it's at the entrance or at the other end or Bonita that island is just not big enough wide enough for that piece of crap monster monstrosity to be allowed
Spoiler Alert: Fort Myers has been back to normal for over a year. Some Fort Myers BEACH properties are not.
Up here in Pasco US 19 is usually extreme busy this time of year. Easy, safe drive now. I'm not feeling many snowbirds.
Very interesting. I personally have never seen my town this crowded in 10 years so we have the opposite.
They're all here in Naples:)
@@bensellin If that's the case why so many houses listed for sale, but very few buying? If it's more crowded where are they buying them when sales down inventory up?
@@bensellin I believe the demographics here support the lower educated and low wage workers Florida is known for. The real money is in S. Florida. So many people here are going belly up on the slow train. After many years in SoCal this is painful to see how far these people have fallen. 99% of these people cannot afford or participate in the Trump economy.
@@katmcpheestlfanbecause here they are mostly owners back for season and a lot are looking to sell thid year.
Love it! 😬😬😬
Merry Christmas to you and the family. Enjoy the new baby Christmas blessing.
Thank you! You too!
I just bought a condo in Miami. My realtor told me now is the best time to buy. And realtors never lie.
Haha, well, Miami market is still on fire so
Hopefully the realtor told you that Miami's sinking into the ocean...If their mouth is moving their lying.. not your friend or family!!!
Good seasonal demand is down
Now I can go to the beach without a hour drive
Congratulations on your baby. Gods miracle
Thank you!
Yes, its a miracle that only 100 billion people have been born on planet earth so far, rofl.
$800 HOA fee inland? They are on crack!
Yes this is how they support their habits 🙂🤣
Some in Boyton inland at $1500 hoa fees
Thanks for the news ! My choice...down size get a tiny house that a truck can relocate. I did this 30 years ago
Rents are NOT decreasing here in Venice Florida.
Probably because Venice is almost entirely retired boomers with money.
Sure is in north port!
Ty
Y’all need to read the room. Employers aren’t hiring and some companies have gone almost entirely automated, like Klarna. No workers=no proof of income for banks to approve home loans. And even those who are still employed can’t afford the listing prices and are petrified of being eliminated at any moment. What faith does that engender to take up a 30-year mortgage? News flash: It doesn’t.
Billionaires/millionaires are poised to snatch up your homes at rock-bottom prices and then, when they’ve gotten their fill, rehire workers to drive demand for housing. It sounds cruel… but this is exactly what happened in our last Depression. This is just the way things are.
Buying a home is an investment. *NOT* a guarantee.
Evening Ben, thanks much for the good insights into what's going on down there, a quick question?
With the raft of foreclosures/ short sales that are posted and pending all over SW/ SE Fla, how can these builders expect to sell anything in these new SFh/ Twnhm/ Cndo developments? They are still building, do the developers know something we don't?
Thanks again for the information, Cheers.
Thanks! Personally I believe that the builders want to align themselves to be the best deal around. If we do see a wave of short sales and foreclosures they may need work and some may be very cost-prohibitive to insure.
What raft of foreclosures/short sales? 😂 that’s not happening anywhere
@goldenparachute392 SERIOUSLY? Tell any bank your looking for foreclosures, they will give you their list! 🤔
@@towgod3096 there’s always some, but not a raft of them
Wallstreet sees red!!!
I keep seeing these videos but I don't see this happening in real life. Prices are not coming down
Results may vary by region. I covered SW Florida.
I tell young people to move to GA, NC, or TX. Florida will just keep getting to expensive.
facts
Why not SC, wondering..
Home values are declining in Florida.
Condo values in Miami are declining rapidly.
Robert Kiyosaki always said in a bubble condos are the last to increase in price but are the first to go down, he never invests in condos.
He’s also predicted the last 10 crashes out of the 2 that have occurred 😂
just want to add that canadians have the double whammy of a terrible exchange rate….currency deflating ….less then 69 cents as compared to US dollar
Go to Trudeau's Cuba.
I’m Canadian, I’d go to Cuba before I’d go to trumps America
@@randylahey7343I would to, but I have other countries in mind.
Have you heard about these inspections required for condos that are 3 stories and up? 25 years old on the water and 30 years or older everywhere else. Inspection requests must be made by 12/31/24.
hi ben my place on marco has went up in value which is great one next to us sold for 300,000 more then we payed mine is 500 square foot bigger and nicer so i think were setting good we had to starte paying the reserve in 2025 for new condo law even know were only 3 year old building
I dont think i'll ever fully understand how someone who cannot even compose a simple paragraph can afford a newer condo on Marco Island. Where did I go wrong???
I hope the value of your home in Marco Island keeps increasing. Tax assessor hopes it keeps rising too .
@@allanbauer4076 do you really think we care about taxes we dont
Corrections are necessary.
Healthy even
Bennie, when you say Sales price dropped 31%, OK, does that mean that low cost houses are the ones that are selling, OR, has the Sale price come down from asking? Stats are always hiding something, so I gotta ask.
Heres the thing...could be both looking at median but avg was down 14% as well.
Recession has hit fl, will see if rest of America goes into recession in 2025
I can't see how it won't. The election bump in consumer confidence has already evaporated. If rumors are true, people are buying things this month instead of next summer due to tariffs.
@ yup, should see a good gdp report for 4th quarter because of that.
Sure hope so!
There is no recession in Florida, unemployment is low, economic growth is strong.
@ hahaha
Don't panic until the real estate cartel in South East Florida stop or pause building 😅
@@Gone_huntingg Where are you?
What they pretty much do is build and build andget areas re-zoned, and then things slow down and they leave things empty for a while then they come back. They have no long-term vision.
I have to put in my two cents about your comments about how it's now a buyer Market I usually like your comments and agree with you but in this case I am surprised. As a long time realtor you should know that the price is coming down the way they are is not a surprise at all matter of fact it should be expected. Florida California Texas parts of Arizona we're all poster children of massive increases during the pandemic when everybody was moving and everybody was buying homes that were expensive because they had zero to 3% interest rates they were getting free government money etc etc etc. Florida in particular their houses were 45% AND MORE above where they should have been so you have to expect them to come down now. And on top of that all the Hurricanes we've had in the last 2+ years- of course prices are coming down and it's a buyer's market. Please stop making videos where you say wow this is amazing,unheard of,when you know it was going to happen you and that it was just a matter of time for reality to settle in
"Buyers market" is a technical term classifying market conditions, not a call to action to purchase. Apologies if you've seen 100 plus percent increases in listings and double digit price declines before, but I have not so I react raw and accordingly.
Of Course, the cities where the rich live won't be affected by price declines as the rich get richer and the poor get poorer, DUH.
Ya know
Just keep on pretending theirs no problem
That might work.
And you can keep fantasizing that the world is ending and prices will be cut dramatically
The lack of vacation rental inventory from the storms in the south have created a bigger demand for condos in places like PCB which is always good anyway. Even with the assessments and fees I’m still netting over a $1000 a month profit. Why would I want to sell?
Great content, but your thumbnails could be more eye-catching to attract even more viewers! Let me know if you'd like help designing thumbnails that stand out!
Some folks are still thinking climate change is a trend
If it really were an undisputed fact, rather than the guesswork it actually is, would banks still be giving out 30 year mortgages to properties that are "doomed"?
@@geckster109 most properties in Florida aren’t doomed. They are High Risk. There is a difference to properties close to the ocean and under the sea level to properties in general Florida. Take New Orleans Louisiana almost nobody gonna be building in New Orleans because it’s sinking.
It’s a theory. But then again some people now have a theory that the earth is flat 🤷♀️
@ but scientists back this up
Wait for a year under trump and another hurricane season.
And the end of the lame duck governor
Ive been alive for almost 5 decades. No president in my memory has been worse than Obama and Biden.
Endofsociety, facts would disagree with your feelings
@@randylahey7343 again. Another TDS victim in the midst. You're the one with twisted facts. Make asylums great again.
@randylahey7343 nice try Diddy
No drop in prices on the east coast. Some condos on the market for a year, no price reductions, some went up, believe it or not.
That is wild. Was the same here for awhile.
Then they arent really for sale. I can list my $350k house for $800k and refuse to drop the price. That doesnt make it an $800k house.
The big question is, are condo owners paying their assessment? For any number of reasons, collections might start to be in arrears. Once this starts, future buyers in those properties will start to dry up.
Honestly from what I've seen most can handle it so far. They usually break it up over time and installments if possible and some unit owners have assessment insurance which covers it. Though I imagine it is tough for many
I would assume that this information could be obtained in requesting the association's financials? But i really dont know.
@@geckster109 The condo management will (usually) NOT disclose condo financials to a "stranger"! I tried to get this info on 3 condos I was interested in and was refused. I talked to a few residents who I saw near the pool and was told that there was a $30,000 assessment due in a few months!! The realtor told me that sellers were obviously NOT going to disclose this info and risk not selling their condo unit. Buyer beware.
My Airbnb has tanked since VP Trump was elected. I had many bookings and inquiries under Biden.
Paradise is in Heaven...are people still confused 🤔😕... This is overpriced and overrated Florida.. please keep it real 😁
MAGA Crash.
Again your the Darth Vader of the Florida real estate industry
If the temple is falling
Why are these areas improving their infrastructure?? More condos and apartments being built in Cape Coral , more Lee county hospital facilities being built ?
I want to know why ??
Not sure how to take that one? Lol. I mean, just because prices are falling doesn't mean the world is ending. Will probably make more people move to these locations if anything as they become more affordable. So bring on the upgrades.
Such a strange false equivalency! Where did he ever mention any "temples falling"? Time stamp please?
It's clear the condo model, once exposed by the events of recent years, is a failing one. It simply makes no financial sense to buy one now that reality has come into the picture. The only people who should consider one is someone is the "money is no object" class (Wall Street crooks or tattoo parlor owners, both of whom can print unlimited quantities of money, no matter what is happening economically).
When your mortgage is an afterthought compared to everything else, it means you haven't bought anything and the treadmill not only will not stop, it will speed up with the passage of time.
I dont get your point. Clearly you are targeting the rising HOA costs in your nonsensical rant, but can you please share which Florida market you are in where the costs of single family home ownership havent also increased dramatically within the past few years? Or do you own one of those "magic homes" that never have higher taxes, cost of insurance, costs of utilities, and get free exterior landscaping and maintenance? I think there are still situations that modest condo ownership is a fantastic fit for certain people of ordinary means. You will never escape rising property taxes, insurance, maintenance or utility bills no matter what type of dwelling you aspire to live in, unless you live in a cardboard box.
@@geckster109 I suggest you change your name. Red Herring would be a fitting screen name. The only thing you said that makes sense it your initial "I don't get your point" statement because it's clear you don't. The rest of your argument is the very definition of Red Herring. Look up the term. My comment was on condos and NOTHING ELSE!!
I owned several condos over the years and the last one was a 400-unit Miami high-rise which I was President of for the last 3 years, where I went from owning my home, to my home owning ME. Let's just say I was in the thick of it and the changes were and still are dramatic. Many condos are on their way to financial failure and private equity vultures will scoop them up when they finally hit the wall financially, structurally, etc.
Condos fail because their initial lure of simple lifestyle and low cost of upkeep are the selling points, UNTIL you can no longer continue in that manner. Modest condo ownership, as you call it eventually reaches the point of needing cost prohibitive structural work. At that point, it is essentially worthless (you know, kind of like you).
But to cross into red herring territory, all home ownership is becoming pointless. I'm done with it. I'm not going to let everyone in the world stick a needle in my arm to draw blood. Fuck that.
@@geckster109 I suggest you change your name. Red Herring would be a fitting screen name. The only thing you said that makes sense it your initial "I don't get your point" statement because it's clear you don't. The rest of your argument is the very definition of Red Herring. Look up the term. My comment was on condos and NOTHING ELSE!!
I owned several condos over the years and the last one was a 400-unit Miami high-rise which I was President of for the last 3 years, where I went from owning my home, to my home owning ME. Let's just say I was in the thick of it and the changes were and still are dramatic. Many condos are on their way to financial failure and private equity vultures will scoop them up when they finally hit the wall financially, structurally, etc.
Condos fail because their initial lure of simple lifestyle and low cost of upkeep are the selling points, UNTIL you can no longer continue in that manner. Modest condo ownership, as you call it eventually reaches the point of needing cost prohibitive structural work. At that point, it is essentially worthless (you know, kind of like you).
But to cross into red herring territory, all home ownership is becoming pointless. I'm done with it. I'm not going to let everyone in the world stick a needle in my arm to draw blood. Fuck that.
@@geckster109 No, you DO get my point which is why you added a red herring to the discission. Seems I hurt you with the truth.
Deer on headlights. Trying to soften the blow with words doesn't do your followers any good
???
@@bensellin you should be warning them of a generational peak in FL housing prices. early birds out get the best price. there will be more boomers leaving us (naturally end of life) by the end of this decade than those moving to FL
Oh no doubt its going to be tough to replace the age demographic. Thats why i think prices adjusting would be a good thing. Could give younger gens an opportunity and hopefully more industry follows.
Why would you assume all his followers are sellers? Many people watch this guy as potential buyers. He is simply spitting facts with data to back him up. Your conjecture is just that. Where is your data?
@@geckster109 I assume most of his followers are clueless like u n him. Conjecture? Lol. Go look up the demographic data. RE cycle US long 15 yrs Peak to peak Got extended by COVID ... COVID boom is COVID trap . FL is generational peak. Real estate 101 don't by when ownership cost is higher than rental rates .. it's call cash flowing positive. RE is so easy but too many dumb people like yourself
I am at the beginning of my "investment journey", planning to put 385K into dividend stocks so that I will be making up to 30% annually in dividend returns. any good recommendation on great performing stocks or Crypto will be appreciated.
As a newbie investor, it’s essential for you to have a mentor to keep you accountable.
Ruth Ann Tsakonas is my trade analyst, she has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns.
I managed to grow a nest egg of around 120k to over a Million. I'm especially grateful to Adviser Ruth Ann Tsakonas, for her expertise and exposure to different areas of the market..
I don't really blame people who panic. Lack of
information can be a big hurdle. I've been
making more than $200k passively by just
investing through an advisor, and I don't have
to do much work. Inflation or no inflation, my
finances remain secure. So I really don't blame
people who panic.
Without a doubt! Ruth Ann Tsakonas is a trader who goes above and beyond. she has an exceptional skill for analysing market movements and spotting profitable opportunities. Her strategies are meticulously crafted on thorough research and years of practical experience.
how would you recommend i enter the crypto market? I am also looking at studying some traders and copying their strategy rather than investing myself and losing money emotionally. What's your take on this approach? and How can i reach her, if you don't mind me asking?
Please clear up the Florida Structural Review Law. It only applies to 4 stories or higher. It doesn't apply to most of the places you're walking by.
You are incorrect; Three stories and taller are subject to the Structural Review.
I think its 3 stories . ? . ? . ?
Either way, the law of physics does not change.
Law applies to 3 or more stories plus condo is less than 3 miles from the coast plus stucture must be older than 20 years.
All of you are incorrect. 3 stories or more, 3 miles or closer to the coast, 25 years or older. And im in Chicago
Been watching some donkey kong level shit in Upper Wisc and the UP. What some sellers think their properties are worth is funny as F. Now seeing some massive price cuts. So much more to fall. 2025 should see massive unraveling.
Interesting