Posted by RichV(FL) on January 29, 2006 at 11:21:32:
Gene,
I dont know if you are an investor in the FL market. If you are then you will certianly know that our market has not only counted on speculators for the increase in values. Sure they did run it up from 04-05 but thats about it. We also have younger families and large number of boomers that have fueled the market in past years.
This area has been seeing soild growth since 1999-2000.
Many investors are just kicking back now and waiting to scoop up deals.
I wish I had more time to talk about this but my time is so limited today. If your an investor locally here drop me an email we can BS about the market. I have been a full timer here for about 7 years now.
To be frank with you Gene I hope you are right about a big downturn…it will give me a chance to grab deals left and right.
I’ve read various forecasts suggesting that areas such as Houston, parts of Florida, Chicago and even Cleveland are poised to see substantial price increases in the next 12-18 months.
I’m curious as to any other forecasts other board members have come across.
Now that appreciation isnt so strong, I suggest learning how to invest on solid fundamentals.
Over the last couple years its easy and fun to buy anything at any price and quickly make money on appreciation. But thats over now, and many markets will take away alot of what it so easily gave.
Learn to set up solid investments that are based on solid fundamentals. For me a deal needs to cashflow with less than 20% down. And cashflow means the rent is at least 20% more than the morgage payment - so you don’t get stuck paying all the small things out of pocket.
Fundamentally sound investing is about to be the real game again. Speculators are about to witness a blood bath.
im in cleveland and prices are very cheap, great potential for cash flow. lots of redevelopment downtown and in the western burbs. at least its moving in the right direction
Re: The next real estate boom areas? - Posted by John Vosilla
Posted by John Vosilla on January 26, 2006 at 24:09:55:
Exhurbs in places like Houston and Atlanta will really boom when construction slows down this next down turn. They are just over building way too much these days.
Re: Tampa Bay is Still Booming - Posted by RichV(FL)
Posted by RichV(FL) on January 26, 2006 at 18:05:47:
Jeff,
You bet it is. The west coast of FL is holding strong. We are getting more listings on the mls and some people are ajusting prices. But other than that its still looking very good here.
I would say it is more of a balanced market now rather than a hardcore sellers market.
I’m sure our conditions are due to the first of the boomers turning 60 this year. Over the next several years we are going to see many of them looking for second homes.