My Florida Condo Value Went Down (in 6 month's time : 2024 status)
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- čas přidán 24. 06. 2024
- For the first time in 6 years since living here, the value of my Florida condo has gone down significantly in the last 60 days. I am scared to look at the value that it is today when I am posting this video. I hope this is not a long-term trend. This video is a part of me documenting the status of my once upon a time "asset". Anybody else experiencing the same thing? #floridarealestate #HOAfees #florida #condosforsale #propertyvalues #financialliteracy #mortgage #mortgagebroker
Link to high HOA video that I mentioned in this video: • "I can't afford it': S...
I have no idea what’s happening to the real estate market. I own a coop in NYC and I pay over 1K a month just in maintenance fees 😩. I haven’t checked the value of my home in a while because I do plan to stay here indefinitely unless I meet and marry my husband so my thought process is that the value will long term go up. Sorry to hear about what’s happening in FL and your condo’s value decreasing.
Thanks, since I’m starting to realize that it may go bad concerning actual resale value, I am just going to focus on maintaining and enjoying the home, but at the same time putting my money where it grows in a brokerage account that beats inflation hopefully 🙏🏾
Im in Texas and experiencing the same. I bought a single family 3/2 new construction in 2021. My value was almost 100k more last year and its only 11k more now than what i bought it for 😢 im so confused because my area is fast developing with more new homes and businesses. This makes no damn sense!
Yea I heard that Texas real estate value was going down in some cities too. We are in for a longggggg ride. I think if you are a long-term buyer then it’ll work. If you are trying to buy and sell in 8 to 10 years, it probably won’t work. Thanks for watching!
I know it’s sucky that this is going on in the condo market, you may for real want to consider getting outa there while or if you got some equity
Values of condos in fl are gonna fall a lot. State wide we are having 10s of thousands of condos hit the market every day.
I am considering, but I’m not gonna make any drastic moves. I keep getting letters from Banks telling me to take a home equity line of credit and I’m like yeah right so I can be more underwater when y’all devalue my home. Nope! It’s gonna be interesting to see what happens when we have so many condos on the market that aren’t selling.😬
This happened to me in 2008. By 2012 my house was worth half of what I bought it for. I was under water for 12 years. Sold in 2021 and basically got back my down payment. I lost big time. Idk who said houses increase 3% a year... they lied. Maybe the people who bought in 2012 yeah they made out good. Bought low and sold high in 2021 2022.
Damn!! You paid the price having to wait that long to get out your situation. Yea, being a homeowner may no longer be with it. I think brokerage accounts are where it’s at now. Did you re-buy or are you renting?
@QuitThatDayJob The market shot up too much I couldn't afford to buy. I'm renting now. I did buy land in AZ and FL. I live in VA so I'm looking for land in VA and plan to put a manufacturer home on it. The land in AZ allows me to live in an RV on it so if all else fails that's where I'll be 😅... I'm 45 and want to retire in 6 years so I'm definitely aggressively saving in my brokerage accounts.
Do you have a long term plan for the condo? Future rental property? Sell in the future?
Originally, I wanted to sell in a few years. But now I am going to stay put and maintain the home I have. Going to try to enjoy actually having a home and focus on building a profitable brokerage account that beats inflation. Thanks for watching!
Lmfao, what does 2.5 kids mean? 6:22
America has statistics on how many children people are having. On each report it’s never a whole number. It’s always a mixed number.