I buy and rent condos and I recently sold almost all my real estate at the peak of the market. Dumped the cash in gold, silver and T-Bills. I kept a weekend condo near the Treasure Island property you showed. I recently did the math on a 1/2 in the Madeira Beach community of Sea Towers. The HOA dues recently went up to almost $1K/month. For the math to work, the sale price would have to come down to $60K from the listed $183K. This is why nothing is moving in that community. The market is in free fall and is being driven by the Must Sell sellers or those people who can't afford the carrying costs. The people who still have the means to pay the outrageous insurance, taxes, HOA's, etc. are the delusional ones who aren't budging, but their comps are being reset weekly by desperate sellers trying to avoid foreclosure. Look at the "price reduced" dates on Zillow to see downward velocity. You can also see the ever increasing "Days on Zillow" and the blood red map to get an idea of the crash coming.
I have been saying this since 2020 covid. Everyone saying I am crazy, never going to happen in Fl. I have been waiting & watching for this. There are just too many different factors. It is Unsustainable even with so many people moving to Fl.
My HOA has gone from $445 to $845, in Tampa, per month. I don’t have a gym, or a pool, either. Absolute scam. Killing the value of my condo. Any suggestions?
Before you buy a condo, the most important factor is the fiscal health of the community. The new Florida law requiring fully funded reserves is in my opinion a good law because it keeps bad managers (COA's and Property Managers) from kicking the financial can down the road and helps prevent major assessments. Also, is the community in a flood zone? think of insurance rates. Buy smart.
i want to move to tampa from nyc, single young professional looking for connections to help me get employed then move to tampa, i will make it, im not giving up
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Congrats on the new baby! Can you do some videos on the two rivers community? Like what you know about what’s going to be built in that area?
I buy and rent condos and I recently sold almost all my real estate at the peak of the market. Dumped the cash in gold, silver and T-Bills. I kept a weekend condo near the Treasure Island property you showed.
I recently did the math on a 1/2 in the Madeira Beach community of Sea Towers. The HOA dues recently went up to almost $1K/month. For the math to work, the sale price would have to come down to $60K from the listed $183K. This is why nothing is moving in that community. The market is in free fall and is being driven by the Must Sell sellers or those people who can't afford the carrying costs. The people who still have the means to pay the outrageous insurance, taxes, HOA's, etc. are the delusional ones who aren't budging, but their comps are being reset weekly by desperate sellers trying to avoid foreclosure. Look at the "price reduced" dates on Zillow to see downward velocity. You can also see the ever increasing "Days on Zillow" and the blood red map to get an idea of the crash coming.
I have been saying this since 2020 covid. Everyone saying I am crazy, never going to happen in Fl. I have been waiting & watching for this. There are just too many different factors. It is Unsustainable even with so many people moving to Fl.
My HOA has gone from $445 to $845, in Tampa, per month. I don’t have a gym, or a pool, either.
Absolute scam. Killing the value of my condo. Any suggestions?
Before you buy a condo, the most important factor is the fiscal health of the community. The new Florida law requiring fully funded reserves is in my opinion a good law because it keeps bad managers (COA's and Property Managers) from kicking the financial can down the road and helps prevent major assessments. Also, is the community in a flood zone? think of insurance rates. Buy smart.
Good for nothing HOA they should be illegal.
i want to move to tampa from nyc, single young professional looking for connections to help me get employed then move to tampa, i will make it, im not giving up
Feel free to reach out to us anytime!
Never a CONDO special in Florida.
😮😮 nope hell no. Hate HOA and people so close to if i fart they can hear me😂