Florida Real Estate Bombshell
In Florida, the jump in UNSOLD condo inventory is at historic levels, and it’s WAY worse than the usual headlines suggest (which is saying something because the headlines are all bad right now).
What’s happening now in Florida, especially in condominium sales is a classic boom to bust example.
Florida Real Estate Bombshell
This is nothing new we’ve seen it before we’ve seen it in the stock market and naturally we’ve seen it in the real estate market but once you’re involved in it personally whether you’re owning a lot of stocks or you’re living in a condo whose value has now gone down to less than what the mortgage is on the property, it’s hard to believe that this can happen.
I think this is just human nature, because prices going up are always liked, but, when prices go crazy or go up for an inordinate long time, many people think it’s going to continue forever or there’s a new trend, this is usually a red flag that the market is about to turn. It just seems that people cannot accept the fact that whether it’s the stock market or the real estate market values can go down just as fast, and sometimes faster than they went up.
So, at this point, you might be thinking to yourself, well that’s Florida and I’m not living in Florida, but what’s happening in Florida should be considered a major red flag for almost any Metro area in the country that has seen sky high prices during the pandemic and currently are seeing prices stagnate or like markets such as, Boise Idaho, Phoenix Arizona and the Austin Texas going through a marked increase in inventory, combined with increased sales times and naturally resulting in lower final sales prices.
One should keep in mind, that it’s very dangerous whether the stock market or the real estate market, to anticipate that a bottom has occurred or is about to occur during a declining market. In the stock market, this is called trying to catch a falling sword. A common place phrase usually heard in falling markets is that this is a great buying opportunity, because just 6 months ago or a year ago this property was $$$, so, look how much you’re saving by buying now. Needless to say, one should exercise extreme caution in buying in declining markets, because there’s no guarantees that the market does not have much farther to fall before a real bottom develops.
Another important point to keep in mind, is that a lot of times in declining real estate markets not only are the sales prices of the properties going down, but the potential rental values are also decreasing. This fact, combined with the fact that in many localities, a large proportion of the residential real estate is owned by investors! So, investors who were once enjoying a positive cash flow and are now having to feed the property because of lower rent values, may turn on a dime, and just sell out. Yes, investors are not like homeowners, it doesn’t take much for them to decide they made a bad investment, dump that investment and move on.
Now, a lot of people say that I’ve been negative on the real estate market, personally, I just think I’ve been reporting the truth, and if people listen to my advice and held off purchasing in the overheated markets of Idaho, Arizona and Texas, financially they might just be looking a lot better today, than they would have been looking, if they owned a declining real estate asset.
Naturally, these are just my own personal views and not legal or real estate advice to anyone. People reading this should keep in mind that all real estate is local and you could be living in one area where real estate is declining and yet a neighborhood just a couple blocks away from your property has actually been increasing in value. So, my remarks here are general in nature and just my own opinion. If you want to get an accurate idea of what’s happening in your particular real estate market and or the value of a property that you own, you should consult a local area real estate specialist. I would suggest, a real estate broker who lives in the area that you own property, and has at least 10 plus years of residential real estate experience! If you’d like to know your what real estate properties are worth, send me an email and I’ll connect you with a top real estate broker in San Diego who will provide this information at absolutely no cost or obligation to you!
Florida Real Estate Bombshell
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Brokerforyou.com is for SALE
Just like most major businesses, the easiest way, and the fastest way to expand your business and influence in your particular market is through strategic acquisition. Just look at Google, they are the number one search engine in the world! Google bought Youtube in November 2006 for US$1.65 billion! YouTube now operates as one of Google’s subsidiaries.
www.brokerforyou.com is for sale and is offered with a very popular San Diego residential real estate channel with 1.16K subscribers and 114 videos!!
What’s the approximately monthly cost to host a website? With shared hosting, you’re hosting fee can break down to about 10 to $15 per month. To keep your url registered (that’s your site address), this is usually paid on a five to 10-year basis, which averages out to about just a dollar per month! Naturally, if you add direct hook-up to a MLS database, that provides lead capturing, this costs can vary greatly from provider-to-provider.
- Also available, much smaller aged websites (not just urls) for Real Estate agents and brokers in California. Yes, since I’m retired from Real Estate now I have a number of websites that are available that you can use for readings to your main site. The following real estate area sites are available but subject to prior sale, without notice: San Diego, downtown San Diego, Del Mar, Encinitas, Orange County, and Los Angeles. If you’d like to purchase any of these sites with all the content included, you can get them at a Bargain Basement price. Please contact me if you’d like further details.
- Interested, call Bob Schwartz (619) 286-5604 for additional information
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DISCLAIMER:
- Some of the links in this description and in our videos may be affiliate links, and pay a small commission if you use them, but never increase the basic cost. I really appreciate the support. The content in my Youtube videos SHALL NOT be construed as tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, or other & may be outdated or inaccurate; it is your responsibility to verify all information. I am a not financial adviser. I only express my opinions based on my experiences. Your experience may be quite different. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. You must conduct your own research. There is NO guarantee of gains or losses on any investments. My produced videos are for entertainment purposes ONLY. DO NOT make buying or selling decisions based on these videos. If you need advice, please contact a qualified CPA, attorney, insurance agent, contractor/electrician/engineer, financial advisor, or the appropriate professional for the subject you would like help with.
- Although no longer a licensed California real estate broker Bob’s 30 plus years of experience in the real estate industry with all the contacts that he has developed, he is able to provide referrals to the top real estate Professionals in any state within the United States. So, although you can’t get Bob to represent you personally, Bob can select a top real estate professional with years and years of experience to ensure that you get the best possible representation.
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