Ran across this story today on Yahoo. If you are looking to buy in Florida or California take a look at this link.
http://finance.yahoo.com/banking-budgeting/article/113299/housing-markets-collapse-2012-247
Oh no my $25,000 house will go down by 10% a whopping $2,500!!!
But hey I am still receiving a gross rental of 31%, people still need to live somewhere.
We are doing this for the long term, repeat after me, Long Term.
But I tell you what while you all sit on your hands and worry about the sky falling, I will get off my bum and get over there and buy all of these properties that are apparently going to plummet.
Also, this article is specific to the highest priced Florida markets. It is laughable. Florida is going to rely on low to mid priced housing for a long time. I'm talking mid $100's to mid $200's. Those areas are mid $200's and up.
Lee County: Median Home Price is $98,000 +/- and adding jobs like crazy. Unemployment has dropped faster here than it has anywhere in the country. Just sayin
CheevesFinancial | Cushman & Wakefield - Commercial Property SW FL
http://www.CommercialRealEstateVoice.com
Email Me | Phone MeHey Gang
I’m with petejac1 on this one
Lets be real folks, according to this article, they except Florida to COLLAPSE another 11%-13%. That’s not a COLLAPSE, that’s more like a SHIFT OR BEND…Mannn….the media sure knows how to over play and exaggerate things.
Look…lets do some Math, hypothetically speaking.
If you buy a Duplex for 80,000 in Fort Lauderdale today, they anticipate a further decline of 13%, that $10,400, so in other words, they want you to want 6 months for a POSSIBLE 10k savings. Now, if you really believe that its worth it, what could you lose waiting for the so called savings that not even guaranteed, just speculation.
You buy you property today, rent each side of your Duplex for $900.00 per month, you gross $1,800 per month * 6 months = $10,800.. Look folks, a wash…..and so not worth the wait…BUY NOW!!!!
I’m an investor/agent ground in S. Florida, myself and my clients are making huge returns and you should too..
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