Is the SE Florida housing market going into a "cool-off" period?

Asked by DB, Fort Lauderdale, FL Sat Nov 23, 2013

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Gary Hitchco…, Agent, Coral Springs, FL
Sat Nov 23, 2013
It remains to be seen if this is our normal slow period after school starts or if there is a real slow down. With real mortgages now, for sure there won't be a meltdown.
0 votes
Stephen McRo…, Mortgage Broker Or Lender, Tampa, FL
Sat Nov 23, 2013
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Despite Obama's best efforts, the U.S. housing market is rebounding. It would have NOT gone down so far and would have started rebounding a lot sooner and we'd be in a much better situation today without the.. "Hope and Change"

Looks like all the "Yes We Can" ....has turned into ..."No You Can't"...pretty fast hasn't it?

Gonna get worse?

Yes, especially with the further implementation of the anti-consumer DODD FRANK ACT that the administration is hitting America with stating Jan 14, 2014.

They're going to take the dream of home ownership away from millions and/or prevent millions of others from buying the home they want with even more Crushing and Crippling regulations in Jan. 2014!

BTW- how's that ..."Hope and Change"... been working out so far?

A good advance taste of Socialism, not so good is it?

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0 votes
Mihaly , Home Buyer, Sarasota, FL
Sat Nov 23, 2013
The entire economic world is in a state of flux. I don't think anyone can answer that question with any reasonable amount of proficiency. One day life is good and looking better and two days later it's as if the whole thing was just a dream.
Prices on the east coast of Florida either remain steady or have taken some hits. ranging from 12-18% from what I have seen. From Boca, up through FTL and Highland Beach, Delray and Boynton all the way up to Jupiter...the money corridor...prices on high end parcels are now going through reductions.
The other side of Florida, Naples up to Sarasota, similar issues but pieces are selling, up from a year ago by about 12% although prices were lowered last year on both sides of the state, the median price seems to have stayed the same at about $255K
The deals are with homes priced at a million or more. An entirely different demographic seems to come in play at about $3 million. With the doldrums being in that $650 to $950 range.
I'm not a realtor...but I do play one in my dreams. And in real life I am a property shopaholic. I've bought and sold a few parcels in my time. Obviously since 2008 things are, as I mentioned, in a state of flux. But if you like to play craps, then the real estate game is the hottest ticket in town right now.
0 votes
None of us have a crystal ball. Each market is different. Florida is a large state so it is relative to supply and demand. I can say that inventory is limited and there are a lot of competitive offers. I do see recovery of some sorts. It normally slows down this time of year and I am still bust.
Flag Sat Nov 23, 2013
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