Florida's Surging Housing Stock: Untangling The Boom
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- čas přidán 3. 07. 2024
- Explaining The Exploding Housing Inventory In Florida
The Florida housing market is strong, regardless of what some may say. Do you believe everything you hear about the exploding housing market in Florida? I will give you something to think about. I will show you the Homes for sale in Florida and some of the facts not being shared with you. Are you ready to have your eyes opened? Let's GO!
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Craig Cunha - Lic # 3075694
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Hey Guys, please excuse the video quality. This was recorded on Zoom so that I could share my screen and give you all the information within. I hope you get something valuable out of it! Let me know down below!
Delinquencies are down because this time the homeowner has money invested in the house with a significant down payment so if we were to have a market crash the next time it will be a homeowner that will lose instead of the banks.
When you see houses being built those permits were pulled a long time ago and what you will see now is the builders putting cheap products in the home to make up for their loss
And yes there is a housing shortage but only because it cost too much to build a home if you’re paying somebody working at McDonald’s $20 an hour how much you going to pay a skilled craftsmen to frame a house or a plumber or an electrician and then the builder hast to get his cut
Gained more perspective in 27 minutes than hours following other real estate reps. Looking for a second property as an investment. I believe I found my guy.
Would love to help. Reach out to me when you are ready to discuss.
Redfin has some great data too: 1) for Jan - Feb net migration to FL is the highest in the country and 3x the 2 other closest states, NC & AZ. 2) for Jan - Feb Cape Coral is in the top 5 move to locations in the US.
Like you, I'm tired of seeing all these "profiteering" listings skewing the market data.
Excellent info Craig!!
I was a loan officer during the housing crash …what is going on now has absolutely nothing to do with what happened back then …changes were made …that won’t happen again… I’m not saying the economy can’t tank …but the situation that happened during the housing crash happened for a completely different reason.
maybe but sure looks like its same issue as in 2008
you're lying to yourself, it's the same dog with different fleas
@@NS-yu6yf agreed
QUESTION: How many months of inventory do you show in Cape Corral on your MLS?
As of the end of February 2024, 10 months.... that's down from 13 months.
Thanks Craig!
I will definitely look you up in the near future, relocating from AZ
Good info. Thanks!
Glad it was helpful!
It is refreshing to hear a good analysis on CZcams 🙌. Thanks for that.
Keep doing what you do. I hope you are experiencing much success from your efforts!
Thank you Craig! You as well. Keep up with the no BS content. @@livinginfortmyersflorida
I'd love to see the comp. Between your 2 properties you considered.
Cant wait to visit Fort Myer in 6 months 🤩
You will love it. If you need some direction, let me know.
Delinquencies are down because they brought back 2 ( of many ) qualifications to get home ….down-payments (except V A) and strict qualifications…so if they don’t think you are a good bet for a home loan, you aren’t getting one….
You mentioned that we can't expect historic changes to stay around forever. What do you expect home prices that had historic change in a matter of 10 or 12 months to stay around permanently ,or do you expect them to fall back in line with the 2020 prices?
Pricing happened due to demand. The other factor is supply. We are low on supply and high on demand, therefore, pricing will continue to stay elevated. Reasonable asking prices is what needs to be adjusted. Expectations from the sellers are not aligning with the market. That is causing all the confusion in the housing market right now.
I saw a report that shows Condo prices are collapsing and inventory has increased by 30% in the last month.
Yep, the 3 doomsday guys are all over that. Use the same info regarding properly pricing a property. Condos are over priced in their ask as well. Once sellers get real, all will normalize. I found a 275k listing that started at 379k last June. Still for sale! Stop asking for the moon and you will sell. AGENTS, stop taking these listings! You aren't helping anyone!
Craig,
I use your my Florida home app and I’ve noticed lately it doesn’t show all the houses listed around me. And the houses in question are still for sale not pending or something. Just wondering why the app doesn’t show them??? Thanks
I will look into it. Try logging out and logging back in again.
I'm still not sure about the home insurance, I know someone who was trying to sell house in Fort Myers and had no damage from hurricane but 5 buyers were quoted crazy insurance ( 15,000-20,000) Didn't sell till someone came in and paid cash.
Not every property will experience what I shared. I'm just letting everyone know there are options in MOST cases, not all.
Ppl think there is going to be a crash is because so many homes are being built but not sold……They don’t understand… I’m more worried about the water table … cause the city doesn’t seem to be
Be interesting what the asking price is on those 2 homes. Both are very nice.
650k on the first, 460k on the second....
Thanks. Seems pretty fair especially on the first one. Lot of house for the money with pool and 3 car garage.
Hey John, If you would be interested, let's talk. Call me at 239-218-4990
Any recommendation hotels to stay on SE side for a couple of days
Westin, Holiday Inn Express, Hampton Inn or even check out Airbnb and vrbo for an experience more like living here.
I think a lot of people are going to be in a very bad situation for buying inflated houses. There is no better judge than time, forget about numbers, percentages, speculation, funny graphs , what the news tells you. The math is not looking good is what I see.
Ppl who bought during the big boom with historic rates are not going to pick up and run….the have rates below 3 percent! They’d be crazy too….lol…and when they do go to sell they can get more for their homes if their mortgages are assumable …plus let’s not forget the obvious…why ppl flocked to come here …to live free and the beautiful Florida sunshine and great way of life …. We just wish we had done it earlier in our lives …. ❤
I'm first, do I get a beer or hat?
More than likely, a 🍺
Well, when I contact you for help finding a home soon, that commission has to be very low??😀😀@@livinginfortmyersflorida
A masterclass of not calling him for advice.
One of the reasons I feel that these house’s are highly inflated is that the homeowner has no Equity in the home or very little equity in the home and if he sells he doesn’t want to have to give the bank any money.
Actually, equity is at an all time high! 42% of homes have no mortgage at all.
yes.. and there are no sharks in the water.. a condo buyer only needs to look at the HOA compared to a year ago.. not to mention assesments.. with more people leaving their condos it leaves everyone else to shoulder the massive assesments
This, once again, is not a general coverage statement. Each condo development and association are experiencing different challenges. To clump them all together in that scenario is irresponsible. People, do your due diligence. I promise, the sky is not falling!!!