Real Estate

Fly Rod

Fly Rod

Commander
Joined
Oct 31, 2002
Messages
2,622
How is the real estate market in your area???

While flying home from the Bahamas yesterday and sitting and waiting for my connection from Miami to Boston, I read the local newspaper. I guess that the real estate has really hit bottom in some areas of Florida. In the Miami- Dade and Broward area there is three years of inventory of Condo's and a two year inventory of single families. Apparently that is not bothering Donald Trump, he is putting up sky scrapers two at a time in the Hollywood area. We stayed at the Trump Plasa and they were asking 2-5 million for the condo's their.
 
C

Coors

Captain
Joined
Dec 8, 2006
Messages
3,367
Re: Real Estate

The rich have money, and will continue to have money.
 
C

Coors

Captain
Joined
Dec 8, 2006
Messages
3,367
Re: Real Estate

Housing market in jax died, I was building 4 story condos in jax; 45% of us got canned.
 
POINTER94

POINTER94

Vice Admiral
Joined
Oct 12, 2003
Messages
5,031
Re: Real Estate

Rumor has it that 10% of the homes in Michigan have been forclosed. :'(

Business sucks.
 
JB

JB

Honorary Moderator Emeritus
Joined
Mar 25, 2001
Messages
45,907
Re: Real Estate

"The rich have money, and will continue to have money."

Yup. If they didn't continue to have money they wouldn't be rich any more.

Lots of formerly rich people are trying to sell their megabux condos and castles for half what they paid.

On the other hand, around north Central Texas people are leasing the mineral rights to their land for more than they paid for the land 20 years ago, and reaping income in royalties on gas and oil that exceed their other income.

"Unimproved" land values continue to rise.

The Hideout has no gas or oil wells (yet) but the last offer we had for the land was 800% what we paid for it.

The problem with "real" estate values is that most of it isn't "real" in the first place.
 
puddle jumper

puddle jumper

Captain
Joined
Jul 5, 2006
Messages
3,830
Re: Real Estate

Its only worth what some one is willing to pay for it.
Up here in B.C. our housing prices keep going up and up.
 
studlymandingo

studlymandingo

Commander
Joined
Mar 22, 2006
Messages
2,716
Re: Real Estate

I'm in Saint Petersburg. Prices have definitely adjusted a bit. I'm in the business; I have held on to several properties I normally would have sold. I am a landlord even though I never wanted to be. Hoping to see sales pick up before too long. Still lots of people moving to this area, they need to live somewhere.
 
Bob_VT

Bob_VT

Moderator & Unofficial iBoats Historian
Staff member
Joined
May 19, 2001
Messages
26,022
Re: Real Estate

There was a recent article that stated that homes in Detroit were cheaper than cars!

It has slowed here in VT and I think it will drop a bit before we see a comeback.
 
aspeck

aspeck

Moderator
Staff member
Joined
May 29, 2003
Messages
18,603
Re: Real Estate

We are always a little behind in this neck of the woods ... market is still going up. A friends house was appraised at 80K 7 years ago, and last month appraised at 185K. A 150 acre farm, about 20 miles from here, with a house that needs tore down and a barn that has almost fallen down is going for 1.5mil. I probably could have bought it 10 years ago for 100K, but I thought that was too much back then. Shucks, it would be too much for it now! HA!

Prices are still going up, and people are still buying ... but like I said, we are always a little slow ...
 
snapperbait

snapperbait

Vice Admiral
Joined
Aug 20, 2002
Messages
5,754
Re: Real Estate

Value here went down and pretty much leveled out... lot of forclosures.... insurance and taxes eat ya up... Value on condos will probably drop some more, which is fine by me...
 
P

PW2

Commander
Joined
Apr 21, 2004
Messages
2,719
Re: Real Estate

I saw in the paper where Oreck vacuum cleaners is moving production from Mississippi gulf coast to Tennessee. Seems that there is a labor shortage in Katrina areas, and the new prevailing wage in the area is $7.50/hr instead of the old $5.15 /hr.

Now I was just curious. If your residence was destroyed, what kind of place could you rebuild on $5.15 per hour? or could a landlord rebuild that you could rent?

Or $7.50/ hr, for that matter.
 
OldMercsRule

OldMercsRule

Captain
Joined
Nov 30, 2006
Messages
3,340
Re: Real Estate

PW2 said:
I saw in the paper where Oreck vacuum cleaners is moving production from Mississippi gulf coast to Tennessee. Seems that there is a labor shortage in Katrina areas, and the new prevailing wage in the area is $7.50/hr instead of the old $5.15 /hr.

Now I was just curious. If your residence was destroyed, what kind of place could you rebuild on $5.15 per hour? or could a landlord rebuild that you could rent?

Or $7.50/ hr, for that matter.
Click to expand...

[colour=blue]Hey PW2, Would ya like yer god, (Big Nanny Government), to force us business owners ta pay $50.00 per hour, how about $500.00 per hour? Would that make ya happy: PW2? BTW; Real Estate in yer old home town, (Seattle Metro), is still hoppin'! Please be cautious about pickin' a 'bottom' here folks. It is tricky catchin' a fallin' knife: (stocks, bonds or Real Estate). My $.02 JR[/colour]
 
treedancer

treedancer

Commander
Joined
Apr 10, 2005
Messages
2,216
Re: Real Estate

Wow for a minute there I thought we would have post without politics interring it, my bad. Should a known better.:%
 
OldMercsRule

OldMercsRule

Captain
Joined
Nov 30, 2006
Messages
3,340
Re: Real Estate

treedancer said:
Wow for a minute there I thought we would have post without politics interring it, my bad. Should a known better.:%
Click to expand...

Come on now Tree! You luv it and you know it! 8)8)
 
Vlad D Impeller

Vlad D Impeller

Commander
Joined
Mar 30, 2005
Messages
2,644
Re: Real Estate

snapperbait said:
Value here went down and pretty much leveled out... lot of forclosures.... insurance and taxes eat ya up... Value on condos will probably drop some more, which is fine by me...
Click to expand...

The high insurance cost and rising property taxes really suck. :|
 
A

agitator

Petty Officer 2nd Class
Joined
Sep 29, 2004
Messages
194
Re: Real Estate

Fly said:
How is the real estate market in your area???

While flying home from the Bahamas yesterday and sitting and waiting for my connection from Miami to Boston, I read the local newspaper. I guess that the real estate has really hit bottom in some areas of Florida. In the Miami- Dade and Broward area there is three years of inventory of Condo's and a two year inventory of single families. Apparently that is not bothering Donald Trump, he is putting up sky scrapers two at a time in the Hollywood area. We stayed at the Trump Plasa and they were asking 2-5 million for the condo's their.
Click to expand...
 
A

agitator

Petty Officer 2nd Class
Joined
Sep 29, 2004
Messages
194
Re: Real Estate


Less than 3% of the workforce makes minimum wage. You would have to be pretty sorry or retarded to be paid at that rate. :devil:
 
studlymandingo

studlymandingo

Commander
Joined
Mar 22, 2006
Messages
2,716
Re: Real Estate

I know that I currently have two properties that I cannot rent for the mortgage payment. I'm paying a couple of hundred per month for a place where a complete stranger lives. I'm ready to sell these houses I am holding right now.
 
You must log in or register to reply here.
Top