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I like pie

with interest rates relatively high, if rates come down later, you could refinance and end up in an even better position

If the builders are “ hoping” their in for a lot of failure

Will not buy until prices come down.

LMAO the mannequin 😂

Ben more good points Sir. From my perspective and experience, predicting that prices will automatically increase in direct relationship with interest rates reductions is not that simple. There are too many moving parts.

To big I'm 60 years old

It’s all the new developments, why not spend the money fixing the draining system and stop building on wet lands, before the hole city gets flooded again and wash away.

Can you do a video on Babcock ranch? 🤔

Always great information! Forecast is for three 25 bps cuts this year. …Anything more would mean we are in real trouble. My first FHA mortgage was 11% in the 1990’s for a $77,000 home. Since then, purchased and sold 8 homes with all making money. Rented when it didn’t make sense to buy a few times over the years. Markets are dynamic, avoid FMO and keeping up with jones’. Patience…

No thanks builders. Over valued junk

They Fed is saying rate cuts will be over 2 years. Most are going to wait if they can till the lowest point. Refinancing is not free, and you can not do it if home value drops. Those who have to buy, are the exception. Those who don't will not be running out and buying. My opinion.

What are your thoughts on sellers with unpermitted additions, like a bathroom? I'm strongly considering a property in Ft Lauderdale but one of the bathroom was recently put in without a permit. It is concerning and the sellers agent, who would also represent me says its no problem and I shouldn't worry about it. The seller won't correct the permit situation so I'm thinking if I can get the price low enough I can just retroactively get the permit myself, but of course it would be a pain in the ass. And also the risk of it all having to be torn out.

Both my properties are rented (Gulfport, Orlando). Sadly, in aggregate I'm in a loss situation. When my Orlando home came up for lease renewal, my property manager advised only raising 50 a month, which is basically nothing.

Does not make sense to buy right now. Give it three years it will totally be a buyers market

I would not buy a house today if my life depended upon it.

Insurance and taxes…that’s the rub for many people…

Mannequin for Halloween?

Interest rates and energy prices been falling all Year as the US Federal Reserve has *NOT* cut interest rates so no one explaining how the Fed now changing this this coming week makes this situation of falling rates and falling oil prices *"improved upon"* (presumably meaning even lower interest rates and lower oil prices being the improved upon but maybe not maybe they want higher borrowing costs and soaring oil prices again.) What is a fact is so called fast food which is so fast now it's not even food anymore keeps getting bid up in the stock market clearly showing inflation is still raging away so predictably everyone is suddenly buying gold as no one believes at all that any *"easing cycle"* is at all having to do with crushing inflation expectations at all quite the opposite already too much has been done in that regard and the need to let prices moonshot again is the way to go. This might be true for Wall Street is true for Wall Street actually but housing doesn't "work" if there isn't an allowance for building actual communities where people can hang out at the tiki bar have some drinks for less than a billion dollars and enjoy the Ocean and commaraderie so yes I agree the US Fed giving in to the speculators this week is bad news as presumably the *"great reset"* is at it always is reset the value of money to the maximum low and see how much moar Publix can afford to build in Florida😊

It's not the interest rate that is the problem in the equation, it's the price!! I've been screaming this at other agents for over a year now. If the fed is planning on a 1.50 rate cut by the end of the year, this tells me they are behind. The recession has already begun and the fed is in panic mode but if the drop to fast, they will cause panic. They screwed up.

I think prices of new construction will (and have) come down 10% or so, but there’s no way builders are chopping off 40-50% like I hear some folks saying.

I am looking for a house with Metal Roof, Inpact windows, X flood zone, pool and canal front. Right now they are only left overs from last season. It could be Port Charlotte or Englewood. If you are interested let me know!

Prices have no where to go but DOWN, and will continue to go lower until 2027. Greedy Realtors HAVE to lie & try to drum up business because the vast majority are desperate and failing right now

I agree with you that sellers have delisted their houses and are waiting for a miracle coming with the snow birds. Lowering interest rate 25bp will not make the difference and elections either!

The rates won't change much. These are seasonal buyers who pay cash. They want a return to pre pandemic prices, if they are going to jump back into the market.

An expected rate cut doesn't change mortgage rates when it happens.

I’m surprised that people think a small move in rates will make such a big difference for buyers.

luxury existing homes can list between 600 - 2,000 /sqft ... geez

Great video! Always appreciate your insight Ben. Big like from me 👍

Another Great Video!

The sheer amount of hopium these builders and sellers are waiting on is ridiculous. People don't care what the interest rates are it's the price itself. The market dictates the value and the market is way overpriced. The longer they sit on these houses the more they are going to hurt themselves. Sure some will sell at a lower price now but in the long run that will just drive cost down even more.

Notice at 1:11 the gator hanging out in the background by the ditch. At least it sure look like one. Florida living.

Best Real Estate Channel on RUclips, thanks Ben!

Mortgage rates follow the 10 year treasury yield, not just the FED rate.

Florida production builders can build a new home from $150 to $200 per sq. ft. all existing home sellers must compete.

What area is that where they're still building

I respect that you are not making predictions. You are leaving us with the facts, both macro, and anecdotal, and letting us decide for ourselves.

so any interest rate decrease will be offset with an increase in prices? Come on, what is the point. So houses will remain unaffordable.

The country is not stable now. It will be a cold day in hell before I'd buy a stationary asset. They can destroy towns at whim right now.

IS that a gator near the trees in the 1st minute

100k in 2 years is fine

Hey Ben. As a former Florida resident (Miami/Fort Lauderdale), I watch a lot of these real estate videos just to keep up on the market out of curiosity. It’s fascinating to have watched its boom and bust since the late 80s. This is hands down the best I’ve seen. Smart, concise, honest. First time I’ve heard the perspective you give on the Florida condo market. Clear and reasonable. I’ve subscribed!

Market is doing OK in single family homes. Probably pick up again with falling rates

Should be interesting when everyone dumps their properties on the market after the first rate drop.

Great video Ben! Just received my "look ahead" tax bill in Charlotte County, yes, it's going down significantly (after the unbelievable increases the last few years). Assessments are done on 1/1 for the following December bill, so with the value drops we've seen this year, I'm hoping property tax drops again next year! My 3/2 canal house was $375K in 2018, $750K in 2022, now is $585K.

The economy is pretty sick - to begin with (not only in the US, but world-wide). That alone will have a negative effect. These brave new buyers are not aware, that the property tax will be nothing what the previous owner paid - especially is he/she had homestead exemption - and when on top of that they get the insurance bill - which they MUST pay because they have a mortgage - there will likely be another bailing out of their house ownership. These show up about a year after their purchase; initial 1st yr insurance is low, the new tax bill comes only in the fall. If eligible for Homstead, it's only after a year (plus) of residence, (early-spring-window activation). So we may see a two-wave sell-out; right now we're in the first... And I almost forgot: Water and sewer assessments are coming continuously - $35K... Boom... MOST of these new buyers from up North are not made aware of these brutal additional expenses coming their way... And the frills: The pool, the cage, the sprinkler system, the landscaping... Often the hurricane shutters also... There goes another $100K for a newly built house. I've seen it with my own house sold up North back in 2016. The new owners got choked on the taxes (re-assessment) and their fancy frills and interior upgrading and landscaping mania (the kitchen and baths wee already upgraded). They had to sell two years later, couldn't handle the additional expenses...

People are drunk with information overload.

I agree, anything could happen. But I just can’t see how prices will go up, regular buyers are out of money and the cap rate for investors is lower than high interest savings accounts.

Who else thinks nothing will change and prices will keep going down with a rate cut

The first few rate cuts are already priced in. Mortgage rates are loosely correlated to the 10 year UST and the 10 year is already down 130+ basis points since peaking last October. The bond market is forward looking and through FED “guidance” these rate cuts have been heavily advertised to traders. There was a time when FED “guidance” wasn’t a thing and cuts/hikes weren’t nearly as priced in because traders had to speculate- now the FED just tells them months in advance.