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Old 03-17-2007, 05:22 PM
 
Location: On my way to FLA baby !!
1,999 posts, read 1,662,969 times
Reputation: 357

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Quote:
Originally Posted by macguy View Post
Isn't this a national thing? You figure to lose more on your current house as well as time go by.
Kinda, but if you follow the markets, the properties in warm areas along beaches that were way overpriced are the ones going to suffer the most.

I sold our condo in Myrtle Beach too early acutally, still made great money and was not greedy, the person I sold it to doubled his money in less then 2 years. Now the current owner paid way over what he can sell it for and it stuck with it.

MB prices went out the roof mid 90's early 00's and now they are dropping like rocks, similar to Florida coastal areas.

One developer in MB moved inland 20 miles in 1995 and build reasonable homes, he is the smartest man in town, his areas grew, continue to grow today and he never got caught in that false market.
Today he went from the 8th or 9th largest developer in MB to the top dog.
All because he seen the market was going to do this.

Most midwest/central homes in really good areas are holding up fine.

Real Estate is still the best investment going, its a matter of knowing the trends.
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Old 03-18-2007, 06:32 AM
 
Location: South Carolina
5,297 posts, read 6,291,719 times
Reputation: 8185
Quote:
"I've got mortgages for $2,700 a month, and I'm renting a 3,000-square-foot (house) for $1,200. I'm upside down," Myers said.""

Like I have been saying folks, be very careful buying right now.

Alot of people should have waited instead of feeding the fire and buying when prices were rising like that.
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Old 01-28-2008, 03:33 PM
 
4 posts, read 12,142 times
Reputation: 10
whart about renting? How is Delray? need a 3 bed/2bath that allows dog but budget is about $1200....any hope?
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