[MOforthewin]

Originally Posted by beach43ofus

The OP's prediction never materialized. We had a slight dip, and slowdown, then BOOM! Up up and away it went starting in mid-December. I hope some buyers bought on the minor dip because I only see prices escalating until the elections.

Prices after the elections will be dependent upon the outcomes.

I'm just shocked why further down the coast here in SWFL we're not seeing the pricing boom that you're seeing in parts of Sarasota, Bradenton. Instead Cape Coral, lots of areas of Lee County and Charlotte County all seeing price reductions and sitting on the market for months. Cape Coral especially I'm seeing this and in my area too in Charlotte county. Houses still being built though.

I still think it's the hurricane Ian effect in the landfall zones. I'm also hearing from others in my area that the new FEMA flood rating is scaring people off due to insurance rates.

I want to sell this summer. I'm hoping prices comeback up, not go down down here more.

[Travelassie]

Originally Posted by beach43ofus

Pasco County developers marketed to retiring gov't workers in the Northeast for years...especially law enforcement, & fire fighters. Those retirees couldn't afford high end homes, so lots of smaller less costly homes were built. That trend was selling, & stuck.

Sounds like my kind of place. I hate it when an area is taken over by high end McMansions. They sprout like weeds in every square inch of green that is considered desirable by those who fancy themselves the "elite". Like PGI in this neck of the woods. Hopefully the area we live in is spared all that....

[LKJ1988]

Originally Posted by beach43ofus

Pasco County developers marketed to retiring gov't workers in the Northeast for years...especially law enforcement, & fire fighters. Those retirees couldn't afford high end homes, so lots of smaller less costly homes were built. That trend was selling, & stuck.

Homes were selling for 20k in 2010 on the gulf. All them hoods now are low class renters and section 8 nate.

[Goodnight]

Originally Posted by MOforthewin

I'm just shocked why further down the coast here in SWFL we're not seeing the pricing boom that you're seeing in parts of Sarasota, Bradenton. Instead Cape Coral, lots of areas of Lee County and Charlotte County all seeing price reductions and sitting on the market for months. Cape Coral especially I'm seeing this and in my area too in Charlotte county. Houses still being built though.

I still think it's the hurricane Ian effect in the landfall zones. I'm also hearing from others in my area that the new FEMA flood rating is scaring people off due to insurance rates.

I want to sell this summer. I'm hoping prices comeback up, not go down down here more.

I haven't seen the decline in Lee County but they aren't escalating as the past 2 years, properties are selling almost immediately. Insurance costs have escalated greatly along with taxes due to rise in assessments so I don't know how long they can continue. I just read an article on a community near Fort Myers beach with an 80 unit condo that is still empty since Ian. Many businesses and homes wiped out over 2 years out, that has to impact taxes, where does the county get the revenue.

https://www.news-press.com/picture-g...n/71044009007/

[MOforthewin]

Originally Posted by Goodnight

I haven't seen the decline in Lee County but they aren't escalating as the past 2 years, properties are selling almost immediately. Insurance costs have escalated greatly along with taxes due to rise in assessments so I don't know how long they can continue. I just read an article on a community near Fort Myers beach with an 80 unit condo that is still empty since Ian. Many businesses and homes wiped out over 2 years out, that has to impact taxes, where does the county get the revenue.

https://www.news-press.com/picture-g...n/71044009007/

Yea and they want to save Leonardo Arms too lol. The residents mostly old in there and dont want to take a loss. You know, that condo that was nearlt in the gulf before Ian. Now its foundation is exposed.

[StarryKnight1]

Originally Posted by City Guy997S

Ok.........boomer population is mostly retired, 5 more years and they will all be 65+ so that will clearly "bump" Florida's population. Places like the Villages (81,000+ population there alone) are becoming popular with retirees (as well as Margaritaville and others).
The work remote crowd is also loving Florida.

So not sure the end is coming in the next 5 years but I do agree all real estate is cyclical and will go boom/bust. The banks aren't lending like its 2005 so not sure they will have a similar collapse to 2008/09 so that is a huge difference.

As far as "one basket" if you are living in your home, its a place to live not a short term investment. If real estate dropped 50% tomorrow I wouldn't move. In fact I might buy another home!

Yes, owning the one home you live in doesn’t make you a “real estate investor” by the definition most people use, which is a businessperson who buys a portfolio of properties, and sees to it that they generate profits from that.

[stephenMM]

But Florida has plenty of room to grow. It looks like 80% of it doesn't even encroach on any other state's border!

Sorry, I'm practicing being a realtor and got carried away.