Housing prices in Florida crashing.

[Headhunter]

I was just scanning the internet and came across a video showing entire housing developments in Florida with brand new houses that were unsold. There was absolutely no one living in the houses. They were being sold for about $300K or less, with no takers. They said it was in Tampa, Pensacola, and even Port St. Lucie.

The video stated that the housing market went up so high in Covid 19, that now no one can actually afford the new homes for sale. Just like anything else on the internet you have to wonder about the validity of the post.

But if it were true wouldn't the price of upscale RV lots be dropping? Just food for thought.

HH

 

[Neal]

My dream would be to find a condo in SW Florida. Maybe that dream can come true!

 

[Joe Hogan]

Be careful with condos, many units are being forced to do long overdue repairs and upgrades forcing unreasonable special assessments and large hikes in monthly HOA payments. And if you need home owners insurance that can be very expensive depending on location.
But in that long list of Condos for sale there are some well managed and maintained excellently priced 'buys'.

 

[redbaron]

I’ve owned condos in Sanibel for 30+ years, having sold our last one 4 years ago. There are 2 main categories….poorly managed and very well managed.

The bargains are mainly in the poorly managed.

The median price for a 2/2 in a well managed, nice condo is $650k with monthly hoa ranging from 600-1200

 

[Neemer]

I’ve been watching prices at a couple of FL Motorcoach resorts for a couple of years. Prices have declined since their peak, but not precipitously.

 

[Neal]

and that may be the alternative, Pelican Lakes would be nice.

 

[DennisT]

There is a glut of homes for sale in certain areas in FL currently. Local news has been reporting on it.

Know a couple that built a couple years ago and the new one across the lake from them just sold and the developer gave them a 100k pool for free.

A Del Webb community near us lowered the price on new builds by 50k.

Even with that a lot of fields around us have new developments going in.

 

[Headhunter]

Pelican Lake is definitely one of the RV Resorts looking into, IF the prices come down. Blue water Keys is another, and many others,

I was familiar with the prices of The Motorcoach Resort in St. Lucie. For some crazy reason I want to stay at a place or buy with a Tiki Hut....LOL For me this RV resort hits all the bells and whistles. The lots go for $100K to Seven figures. But I have noticed in some new advertising adds stating Now Drastically Reduced.

For me a beautiful Club House with all the amenities is a must. But a slew of good restaurants also goes a long way. One aspect that I look for is gun ranges to shoot at. Specifically Sporting Clays & Trap. St. Lucie has at least three or four in striking distance.

But right now life is moving to fast. Got a camping trip coming up for for five days at Ives Run in PA and Tiffin Rally in NY Alexandria Bay in the fall. I would still love to squeeze a trip to Jims place in NC but my timing is always off.

HH