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View Diary: Moving to Florida? (50 comments)

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  •  Do not be fooled by inventory shrinking... (4+ / 0-)
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    spacejam, PinHole, PHScott, ontario

    and prices going up...there is massive manipulation going on with the banks in regards to foreclosures...

    They are holding a ton of inventory off market....once that inventory hits the market a lot of people are going to be slaughtered, even worse than what happened in 2008...

    •  Not only that, but there are large numbers of (1+ / 0-)
      Recommended by:

      houses with mortgages  underwater, i.e. no mortgage payments in more than 90 days. An article in the Lakeland Ledger in Spring 2012 stated the number at 500,000.

      One of the other things to consider is that new lower price floors are being set all the time. There are always at least 10% for sale, many caused by seniors' health. One passes, the other moves back north. They both pass, or a couple decides to move back north to be closer to family. The kids or widow(er) just want to sell and get out from under obligations,. So they sell for less than parents paid and other listings.

      Now, after the crisis, there is a new , much lower floor established against which future sales will be based If one paid drastically less, then that price will be OK for some to sell at.

      Also, potential buyers will be working longer before going to FL, not to mention they may have been burned pension-wise.  Then there is the matter of how many potential buyers have seen their parents or family burned by FL real estate.

      "...stories of past courage can define that ingredient..... But they cannot supply courage itself. For this each man must look into his own soul." JFK Profiles in Courage " Ontario

      by ontario on Thu May 02, 2013 at 11:08:38 AM PDT

      [ Parent ]

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