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Preview: Comments on: The Home-Buying Season Is Over In Florida

Comments on: The Home-Buying Season Is Over In Florida



Examining the home price boom and its effect on owners, lenders, regulators, real estate agents and the economy as a whole.



Published: Thu, 22 Feb 2018 19:17:55 +0000

 



By: John Fakler

Thu, 16 Aug 2007 21:08:54 +0000

A report August 16 indictes that the number of discounted properties in Fort Lauderdale doubled in just one month. All eyes have been on Miami and Miami Beach recently, where steep discounts have been reported by the national media. This latest development is concerning (for sellers), and indicates the real estate crisis is spreading outside the speculators market.



By: Magic Kat

Wed, 15 Aug 2007 06:53:08 +0000

Sorry for the dupicate post. Dog wants out, knocked laptop off my knees, hit add comment accidently.



By: Magic Kat

Wed, 15 Aug 2007 06:39:49 +0000

"Can somebody tell me how I get one these high-paying, know-nothing, do nothing ivory tower pontificator jobs?" I'm pretty sure all you have to do is join an organization called "Skull and Crossbones."



By: Magic Kat

Wed, 15 Aug 2007 06:35:47 +0000

I have a friend who's in RE who told me that she doesn't have the mortgage payment for next month. Her last deal fell out of escrow because, suddenly, her people couldn't get a loan. Then she shared that she's been living off credit cards for the past 6 months, and now they are maxed out (also same friend who got mad at me a month ago because I didn't want to $pend a long weekend with her at a luxurious spa -- it was $700 a night). I nodded my head and tsk tsked her "bad luck." She was horror struck when I mentioned that -- just maybe -- she should consider a BK, and (I swear this is true) she said "no way... I'm going to win the lottery and everything will be OK." Well, there's a lot to be said for positive thinking...



By: Magic Kat

Wed, 15 Aug 2007 06:35:47 +0000

I have a friend who's in RE who told me that she doesn't have the mortgage payment for next month. Her last deal fell out of escrow because, suddenly, her people couldn't get a loan. Then she shared that she's been living off credit cards for the past 6 months, and now they are maxed out (also same friend who got mad at me a month ago because I didn't want to $pend a long weekend with her at a luxurious spa -- it was $700 a night). I nodded my head and tsk tsked her "bad luck." She was horror struck when I mentioned that -- just maybe -- she should consider a BK, and (I swear this is true) she said "no way... I'm going to win the lottery and everything will be OK." Well, there's a lot to be said for positive thinking...



By: Magic Kat

Wed, 15 Aug 2007 06:03:33 +0000

I'm pretty sure that there's no place in America that makes bicycles anymore. Or bike tires.



By: reuven

Wed, 15 Aug 2007 05:26:25 +0000

“‘That’s what’s going to kill the market — higher taxes,’ she said.” 1. Property taxes went up because the valuations of the homes went up. (Often because they were bid up with money the "buyer" shouldn't have had because he lied on his loan.) 2. The Guv'ment went ahead and spent this windfall 3. They still expect to collect the taxes based on inflated valuations. If you're property taxes went up because "values" went up based on liar-loans, then you're being screwed.



By: reuven

Wed, 15 Aug 2007 05:22:31 +0000

"the Orlando Sentinel. “The Orlando area’s sluggish housing market is showing no signs of a turnaround, with the latest numbers going from bad to worse during what should be the hottest sales stretch of the year.” It bugs me that Newspapers editorialize like this. Why is the end to crazy speculative inflation on home prices "bad"? If gas prices were falling would they call that "bad"? Why are houses different?



By: jerry from richardson

Wed, 15 Aug 2007 01:48:51 +0000

So which lenders are funding these deals?



By: Dennis

Wed, 15 Aug 2007 01:36:37 +0000

I know what you mean. My lot in Sedona went up in value 70% in one year. I just sold it and it will close escrow on Sept. 5th.. I'm totally liquid now and will be for some time.



By: Chip

Wed, 15 Aug 2007 01:35:23 +0000

"do they penalize an old house in a hood of newer homes ?" Not in my one-off experience. My old mother had a no-maintenance-in-20 years house in a nice neighborhood where everyone else hept their places up well. Her Zillow valuation was way too high, relative to the others.



By: Chip

Wed, 15 Aug 2007 01:31:20 +0000

How did they buy new homes without a “stated income” loan if they didn’t get their anticipated windfall yet? If they used the purchase contract for the sale of their place as evidence of ability to pay, I'd guess that someone would give them the loan and that it would not be considered fraud, even after the deal feel through. However, they are in a heapa' trouble, relative to paying for that new mansion.