thats why you should buy the smallest nicest house possible. the McMansion craze of the last 30 years has really been something to see. My parents had one built in 2007 because it was their lifelong dream to have the "big house, big yard" but big problems came with it. in Stafford Virginia of all places.
The homes are way over priced. Add inflated taxes and insurance - not to mention high interest rates! Hoa fees are crazy too. People can’t sell them because market is crashing and they are sitting tight waiting for the prices to go back to pre-Covid prices.
I agree, I can’t wait to see if this trend of increased inventory and price reductions during the busiest time of the year to go into the fall and winter months.
Developers are paving over my formerly beautiful Mount Dora. I really only function well in a small town. I see many of the long time locals feeling the same. This growth is absolutely disgusting. Where to go next?
I’ve always wanted to live in FL, but not at the expense of my retirement and peace of mind. How can I pay cash for a house in FL and STILL have a higher payment just in taxes and insurance than I do for my entire mortgage where I live now? Of course, most homes in FL are overpriced, and most will go down, but I’m more concerned about the taxes and insurance. There seems to be no limit on how high they can both go. I know, no state taxes. I don’t think y’all understand that you pay WAY more taxes in FL, they just call it something else. And now car insurance too??? How much more can this state take before people just get in their cars and leave? This makes me sad.
Totally agree with this, many homeowners who have a paid off house are still paying $2k+ monthly for insurance(s) + taxes, and these costs will only go up with time 😢
I can answer that alyross. Keep your current address and zip code for insurance billing purposes and buy a camper or motor home and live here a month at a time. There are many state campgrounds and they are protected from the blood sucking property tax appraisers who are patrolling the state looking for citizens to gouge.
I paid way more taxes in Virginia than my waterfront gulf access home in Florida. You pay property tax every year on cars, boats, motorcycles and home. I paid Virginia state tax for over 10 years while in the military and only visited a few times. I had to wait until I was stationed in a state with no state tax like Florida and change my residency.
I’m a 50 + year Florida resident. The problem I see here is the increase in population. All these people show up and tremendous building goes on. These new folks all want to live on or near the ocean and gulf. I get the lifestyle but amazed at the stupidity. More people means more roads, more businesses, more infrastructure and so on. All the concrete is not porous and the normally porous soil is slower to absorb the rain water. It’s not climate change here it’s people change. Then there’s the greed factor. The county tax assessors smell the money and proceed after the citizens like Bull Sharks in bloody water. The insurance companies eat the scraps that are left. Us old timers who live in the center of the state have to pay high insurance premiums to offset many of the losses of the coastal dwellers. That’s the cost of having a Florida zip code in your address. I don’t have insurance claims as I live in the middle of the state. While I’d love it if nobody else moved here and if 50% of the non-natives left, I know that just won’t happen. To those of you coming my advice is live at least 10 miles inland, not on the beach. To those leaving, goodbye.
Yes, biggest issue is way too much building activity near the coast. Florida has always been low lying and being in the sub tropics near the ocean has always had a hurricane season, every year. I'm not denying that the climate may be changing but it's a lack of common sense that is the biggest issue...
Climate change is real, and with a warmer climate, stronger hurricanes, rains, and hurricane season has starting early, this looks like a long term problem. Stay safe!
BS. Had a home in Ft. Lauderdale in 1980. It was in a flood zone, built in the 50's. Once every year there would be a 10 inch rain. Streets would get flooded and dry up in a couple days. Weather anomalies occur.
Thanks for the great analysis! Can you look at the housing market in Winter Haven? It's supposed to be one of the fastest growing housing markets in Florida.
Just sold my investment property last week in Tampa. I feel like I was able to get out before the bottom falls out. Definitely less buyers, more nickel and diming and required a 5% price cut, but happy to sell at “relatively” the top.
You definitely got lucky. I’m hearing other stories of people saying they got lucky and sold now moving to other places like South Carolina, Alabama, etc
Sorry, being that 2/3 of the actual workforce makes well under 50k a year in florida, and the state being prone to natural disasters, rent should be under 1k a month, and most homes shouldnt exceed 200k in value.
The reason people don’t like brick houses in Florida is they cost more and the builder has to frame the house before applying the exterior bricks therefore less profit. Also laying bricks requires a skill set. The Guatemalans we import to build the homes can’t lay the small bricks straight. Wood is easier to work with and is cheaper. Block is just big bricks and a lot less of them and because of their larger size more profitable for builders. Also, the Guatemalan block layers have a platform they can fit a level on which avoids the small brick problems.
@@RyanScribner "Brick" homes have a brick veneer over wood framed walls. The walls of block homes are made of concrete block with reinforcing steel rebar. Add 130mph impact resistant doors and windows and that's where you want to be in a hurricane!
@@RyanScribner Concrete block or cinderblock as we call it reinforced with rebar if I was to get another house or build one it would be concrete block if it was To stay in Florida Which is highly unlikely
Between the heat, rain,humidity and the high cost of living, food,rents, house prices, all insurances the state will become a state only the rich can afford.
And I'll say what I always say to this company... Who will be working for the state of rich folks? They are shooing everyone.. Including those who will work for them as well. No more lawns cut, houses cleaned, nothing. Me maybe on the way to being Jetsons but we're not there yet. So what do they do in the meantime? Absolutely ignorant what they are doing
Someone has to work on lowering those HOA’s fees or get rid of it all together. That is a forever expense even she you finish paying your house. Who is putting that money in their pocket?. I really don’t see the necessity of having a gym and all the amenities they offer, there are plenty of gymnasium every where for a lot of less expensive than paying for associations. Think about it please.
The development from the builders moves ground and trees. What happens is that streets and homes end up with water everywhere, more than likely in your home😢
I live in Florida very near the highest elevation in the state my house is about 230ft above sea level. I think the insurance rate increases are valid near the coast and for flood prone areas. Lots of older Florida homes are old and need to be Hurricane/wind updated anyway.
Do Port St Lucie, FL!! There are a lot of new construction homes being built by big builders (like Mattamy Homes, Lennar, Holiday Builders, Ryan) that are pricing out resellers and smaller new construction builders.
I hope people who would think of moving into Florida, would change their minds. There’s lots of good places like the Carolinas and Texas. My poor half-destroyed Florida. “They’ve paved Paradise and put up a parking lot.” Joni Mitchell sure had it right. When I was raising a family here in SE Florida in the 1980s, it really was a paradise. Too many damned people have moved here and have destroyed my home. We bought way out in the lush green western West Palm Beach. Now builders are putting up million dollar homes with zero lot lines and blissfully cutting down the beautiful forests and killing all the critters who called it home. You see them dead on the roads. They have brought New York to Florida. I am happy when I see how poorly that is turning out for them.
Don’t forget that over 50 percent of all sales since 2021 are scumbag flippers and investors. Some PBC neighborhoods have been completely destroyed and are now empty flips or empty rentals just waiting for the next sucker. The real values aren’t even half of the new fake, fraud driven asking prices.
Why don’t YOU go up to the Carolinas or Texas? People that move to “YOUR” home are rich and resourceful and your happiness for things to work out POORLY for them will ironically only make you poor. Florida was a shiette hole until resourceful people moved there and built it to the amazing place it is today. You’re welcome.
There are a lot of people around the country that canceled their homeowners insurance. It’s a tough decision especially in states that have extreme weather, god bless those people! 1:31
House prices in Florida have doubled in 4 years and in my area they’re still going up. I’ve been saving up for 12 years and I was almost there in 2019 but 2020 onward really messed it up for me. And with rising taxes and insurance I’d probably have to pay cash to afford it long term. In my area the prices just aren’t coming down. There’s a few dumps where they’ve done some price cuts but they’re just not worth buying and the nice homes still sell at asking. Probably will have to move to another state where I have no family and don’t know anyone if I ever want to own anything.
Please do not use the word "crash". The inventory surge does not necessarily translate into a cheap price. I live in Tampa, and do not see any "crash". Houses in good neighborhoods in Hillsborough, Pasco, or Pinneas counties are still expensive.
Looking at the climate, the mosquitoes, the insects, the terrible humidity, the constant feeling of lethargy because you are breathing water (70% humidity levels) and start walking weird because the humidity starts getting through your body, muscles and bones + house prices that do not reflect the bad side effects of living in Florida (specially South Florida, where humidity is the worst) it is not worth it.
WHO ARE YOU KIDDING , I BEEN HERE FOR 71 YEARS , YES , IT WAS NICE FROM THE 50'S TO 70'S . NOW IT WILL BE THE NEW CALIFORNIA IN 5 YEARS , TOO OVERCROWDED , TRAFFIC SUCKS , HOT AFRICAN DUST HUMID WEATHER 9 MONTHS OF THE YEAR , THE SHARK AND LIGHTENING CAPITAL OFTHE WORLD ,YOU CAN'T SWIM IN ANY LAKE OR PONDS OR RIVERS HERE , BECAUSE OF THE GATORS AND BULL SHARKS THAT ARE NOW IN OUR LAGOONS , ALSO WERE SEEING GATORS AND CROCKS COMING OUT OF THE OCEAN , WAS JUST REPORTED . MOSQUITO AND FLIES CONSTANTLY , AND ANTS EVERY WERE . ROAD RAGE , SNOBS FROM THE NE MOVED DOWN AND DESTROYED FLA . AND THE TOWN I LIVE 123 MILES NORTH FROM CUBA MIAMI , THE SNOBS FROM MASS, RI , CONN. NH , JERSEY , NY ETC . OH BUY THE WAY , MY FAMILY MOVED TO FLORIDA IN 1950 WHEN SOUTH MIAMI WAS BEAUTIFUL . FINALLY MOVIN OUT OF THIS S--T HOLE STATE , AND MOVING TO THE HIGH ELEVATION WERE YOU CAN BREATHE AND WITH NO TRAFFIC TO A SMALL TOWN IN THE WNC MOUNTAINS . GOOD DAY !!!!
What about looking at the entire price history of the presented house. Like the house sold for $475k was sold in for $217k in 2003 and for $249k - in 2016. Plus, the property was previously resisted during the other sales as well. Just pause the video and make a screen, or research it. The house doubled in price since the last sale, whereas its increase was only $32k from 2003 to 2016. It’s called cherry picking ..
Nope. I'm directly on the gulf and had no problem finding insurance for way less than half what you said for my home worth around 800k. I'll pay 10k a year for insurance to watch dolphin, manatee play in my backyard.
Just came across your channel. Very informative, thanks! Please consider doing some videos all along the Gulf for people wanting to live near the ocean. I’m wondering how insurance is affecting those housing markets.
@@RyanScribner That was going to be my next step to go and look at your Playlist. If it’s anything like my first experience I won’t be disappointed. All the best…
For sure, here in Sarasota county prices have declined slightly but if you want to have a yard with even a quarter acre of land, prices are still completely out of wack
How about Lady Lake and specifically Green Key Village? I have been looking there and trying to understand the development. There are homes over 10 years old and new construction in the same small development with resales that seem to be sitting on the market.
One of the basic tenets of homeownership is having a roof over your head, or place to live. So to say it is terrible that in 18 years a coastal home has only increased 16% completely disregards the fact that it has provided SHELTER to a family during that time and they didnt lose their money to a landlord via rent but got their capital back PLUS 16% appreciation. Amd while the appreciationmay not be comparable to other markets, it may be beteer than pissing away $400k in rent and getting nothing at the end. Amd yes,nyoumdo habe to oay taxes and maintenance and insurance
The government could easily solve this by investing in infrastructure. Holland actually expanded its landmass but we are being shoved out of the state. It is absurd.
How can anyone say a 25 to 30% price cut is substantial when the houses are massively overpriced. 50 to 60 % would be getting the prices back to reasonable.
With the pending surge of special assessments in condos, many owners will be forced to sell at fire sale prices. Deferred maintenance makes future inflation adjusted work so much more expensive especially as contractors are inundated with work. The next millionaire class will be your local plumbers and electricians. Condo owners will be underwater and begging buyers to take them off the hook.
@@RyanScribner looking forward to it, I would highlight this comment next video, I’m betting condos will face a nice correction over the next 6 months. Those people who bought them at the highs of 2021-2022 will begin to capitulate going into next year IMO.
There are quite a few with damage from Ian, which has not been repaired. The banks as a result are becoming hesitant to lend. the result is good for the cash buyer who has money to abuse for a second home.
What you refer to as the historical average looks like the average of the short span of years from 2017 to 2024. 2021 and 2022 have a significant impact on the average being low when you look at such a short period and will make the 2024 number look like it is much higher than the average. If you just compare it to the years before the pandemic the numbers are only slightly higher.
I had this thought a while ago, and it may be coming to fruition There may come a time when no one can afford insurance… Which means they will not be able to get a mortgage which means people will not need to go into debt for their home! This might be a good thing for many. People will not be at risk of losing their home to BANK .
Yikes!! I would have to agree, especially in lower income areas - keep in mind Florida has the 2nd highest Credit Card delinquency rate out of the entire country too
Florida has an average of 50 to 100 ft above sea level. People move here and complain about flooding...DUH! Know where you live. The price of houses has increased therefore it cost more to replace them when destroyed by weather, fire and etc so INS goes up. When the cost of the property increases so do the taxes. I'm tired of people complaining about the costs of home ownership in our state. Don't like flooding, move to a state with mountains and less flooding. Don't like storms, don't live near the oceans. If housing wasn't in such demand to live near water, housing costs wouldn't be so high, hence tax and insurance costs.
Appreciate your statistical analysis on these properties! When you have the chance, can you research the Fernandina Beach/Amelia Island properties? Thanks.
To bad panic sellers don’t upset the county appraiser. The local government refers to the low value sale as an aberration and pays no particular attention to it. The county tax appraiser just increases the taxes on the new owner and welcomes him to the county.
Born here in '71, went thru my first cane in '79. Nothing new but they are getting stronger. Thankfully forecasting and construction has gotten better. However insurance is insane because of it. People are getting priced out.
Big mistake! If he doesn’t know how to deal with hurricanes, tropical storms & tornados it will be a complete nightmare. No wifi, no internet to work from home. Plus no a/c, how to store food properly and flooding. Besides Insurance prices.
@@Avtr44 Wow. I haven’t been in Florida, so I have no idea. My co-worker bought a home in Florida in 2020. Now, he just bought another house there. Both of his 2 houses in Florida for rental. He said he will retire at 55 in Florida. Good luck to him.
Gonna start keeping an open mind and possibly make some offers, IF we like the place a lot. We will lowball. If it doesn’t work out no biggy. We had places we looked at and said nope and the realtors were pestering us to consider again, nah we decided against the properties. 😅. They got less, those who sold
The number is listings- does that include new construction or is it all resale? That makes a huge difference bc construction is pumping out hard here in north Tampa.
This included new listings, but we will have to look at total building permits next video! In Hillsborough County it peaked at 15,140 in February 2023 - which is similar to the peak in February 2006 of 15,237 🤔
@@RyanScribner i had purchased an MI Home last year. I bought it $50k under market. I recently had it appraised and I’m still with a decent profit margin. I may sell. Just wondering what the market will look like in 6 months.
The problem is New York. That's the standard for rent amd pricing Rich people all over the world go to New York to live rich people all over the world. Are not going to some random place in America to live? For the rent and housing market to be so high, it's not sustainable and places other than ny And not sustainable there And big banks and institutional investments, owning half of the homes in america
I am seriously contemplating buying a house in either lakeland, or Srping hill area. I have rented my whole life, and have 0 chance of ever owning anything on Long Island. Am I crazy should I wait for the market to pull back or just go for it? And ps I am not bringing NY bad politics with me. Lol
I personally think and hope that prices will decline. However keep in mind that timing the housing market is like trying to time the stock market, it's a game of chance
@@timslater566 thanks for input, rethinking maybe its better to rent at first so I can get acclimated and have a better assessment while down there. Also maybe get a pull back in property valuations
You are confusing things. As you said, Citizens is an insurer "of last resort", but then you complain that Citizens is depopulating policyholders who have been offered alternative policies from other insurers. If another insurer will provide coverage, Citizens isn't by definition the "insurer of last resort".
those home listing sales are irrelevant without knwoing the comps. anyone can ask stupid prices, but with you not listing recent comps, you dont show your viewers the recent market prices of the neighborhood to compare.
Travelers Insurance recently reported record profits. TRV stock price is on a steady 3 month downtrend, but still up for the year. Looks like Wall Street is expecting slow moving train wreck - I'm betting TRV will completely exit FLA
![Florida's Housing Market Is CRASHING Right Now [PROOF]](http://i.ytimg.com/vi/4nOW2aM8Q4k/mqdefault.jpg)
![Florida's Housing Market Is CRASHING Right Now [PROOF]](/img/tr.png)
This is what's happening: you do NOT own what you own. You still have to pay rent disguised as insurance, tax, HOA etc.
How's the real estate market for buyers in Bradenton and Cape Coral FL?
100% agree with you. We never truly own our homes, even after we payoff our mortgages.
thats why you should buy the smallest nicest house possible. the McMansion craze of the last 30 years has really been something to see. My parents had one built in 2007 because it was their lifelong dream to have the "big house, big yard" but big problems came with it. in Stafford Virginia of all places.
@@moose1485I always thought that to be weird with the right to own property, it's a bit anti-American in my opinion.
Only if you choose HOA. Otherwise you don't own till your mortgage is paid in full. A mortgage was once considered a disgrace.
Floridian here! My state has been ruined. It was very easy to do it. In just one word. MONEY!
This isn't business. This is crony-ism. This is what columbian real-estate developers think that we want.
Guvment stands for all the money they can take from those who work.
Thanks Governor Ron
The homes are way over priced. Add inflated taxes and insurance - not to mention high interest rates! Hoa fees are crazy too. People can’t sell them because market is crashing and they are sitting tight waiting for the prices to go back to pre-Covid prices.
🦗🦗 (I can hear the Crickets) lol
I agree, I can’t wait to see if this trend of increased inventory and price reductions during the busiest time of the year to go into the fall and winter months.
Property tax is BS. Should be one time at purchase. Just like buying a car.....
In CT we pay property tax on cars every year after purchase. Many states do this. FL is a hold-out. It will come too. Just wait.
haha just like 35% tax on every pay check is bullshit. It is what it is, government owns you
And who should pay for the police that defends your house? And for repairing the road in front of your house. And the plumbing.
Agreed!
It seems to be a scam to keep people working forever
Developers are paving over my formerly beautiful Mount Dora. I really only function well in a small town. I see many of the long time locals feeling the same. This growth is absolutely disgusting.
Where to go next?
I’ve always wanted to live in FL, but not at the expense of my retirement and peace of mind. How can I pay cash for a house in FL and STILL have a higher payment just in taxes and insurance than I do for my entire mortgage where I live now?
Of course, most homes in FL are overpriced, and most will go down, but I’m more concerned about the taxes and insurance. There seems to be no limit on how high they can both go. I know, no state taxes. I don’t think y’all understand that you pay WAY more taxes in FL, they just call it something else.
And now car insurance too??? How much more can this state take before people just get in their cars and leave?
This makes me sad.
Totally agree with this, many homeowners who have a paid off house are still paying $2k+ monthly for insurance(s) + taxes, and these costs will only go up with time 😢
I can answer that alyross. Keep your current address and zip code for insurance billing purposes and buy a camper or motor home and live here a month at a time. There are many state campgrounds and they are protected from the blood sucking property tax appraisers who are patrolling the state looking for citizens to gouge.
The best thing to do is visit when you want and leave and keep your money.
I paid way more taxes in Virginia than my waterfront gulf access home in Florida. You pay property tax every year on cars, boats, motorcycles and home. I paid Virginia state tax for over 10 years while in the military and only visited a few times. I had to wait until I was stationed in a state with no state tax like Florida and change my residency.
I’m a 50 + year Florida resident. The problem I see here is the increase in population. All these people show up and tremendous building goes on. These new folks all want to live on or near the ocean and gulf. I get the lifestyle but amazed at the stupidity. More people means more roads, more businesses, more infrastructure and so on. All the concrete is not porous and the normally porous soil is slower to absorb the rain water. It’s not climate change here it’s people change. Then there’s the greed factor. The county tax assessors smell the money and proceed after the citizens like Bull Sharks in bloody water. The insurance companies eat the scraps that are left. Us old timers who live in the center of the state have to pay high insurance premiums to offset many of the losses of the coastal dwellers. That’s the cost of having a Florida zip code in your address. I don’t have insurance claims as I live in the middle of the state. While I’d love it if nobody else moved here and if 50% of the non-natives left, I know that just won’t happen. To those of you coming my advice is live at least 10 miles inland, not on the beach. To those leaving, goodbye.
Great advice and insights here, thanks for sharing!
Yes, biggest issue is way too much building activity near the coast. Florida has always been low lying and being in the sub tropics near the ocean has always had a hurricane season, every year. I'm not denying that the climate may be changing but it's a lack of common sense that is the biggest issue...
Climate change is real, and with a warmer climate, stronger hurricanes, rains, and hurricane season has starting early, this looks like a long term problem. Stay safe!
Climate change is a hoax.
The United States has the worst civic development. The disaster of the suburb, mall, shopping center and big box stores.
You pave over the ground and take out the trees and guess what you get… flooding!
This is true!!
Especially with once-in-a-1000-year extreme rainfalls that of 26 inches in 12 hours
Yes and global warming is also a conttibutory cause of flooding, through increase strength of storms and rising sea levels.
@@donniemoder1466 Sea levels have not risen.
BS. Had a home in Ft. Lauderdale in 1980. It was in a flood zone, built in the 50's. Once every year there would be a 10 inch rain. Streets would get flooded and dry up in a couple days. Weather anomalies occur.
Thanks for the great analysis! Can you look at the housing market in Winter Haven? It's supposed to be one of the fastest growing housing markets in Florida.
Just sold my investment property last week in Tampa. I feel like I was able to get out before the bottom falls out.
Definitely less buyers, more nickel and diming and required a 5% price cut, but happy to sell at “relatively” the top.
Congrats! Thanks for sharing this firsthand experience, very interesting
You definitely got lucky. I’m hearing other stories of people saying they got lucky and sold now moving to other places like South Carolina, Alabama, etc
You'll see in ten years if you sold at the top
Sorry, being that 2/3 of the actual workforce makes well under 50k a year in florida, and the state being prone to natural disasters, rent should be under 1k a month, and most homes shouldnt exceed 200k in value.
The reason people don’t like brick houses in Florida is they cost more and the builder has to frame the house before applying the exterior bricks therefore less profit. Also laying bricks requires a skill set. The Guatemalans we import to build the homes can’t lay the small bricks straight. Wood is easier to work with and is cheaper. Block is just big bricks and a lot less of them and because of their larger size more profitable for builders. Also, the Guatemalan block layers have a platform they can fit a level on which avoids the small brick problems.
Thanks for sharing these insights! I would definitely want to be in a brick house versus a wood one during a hurricane 😆
@@RyanScribner "Brick" homes have a brick veneer over wood framed walls. The walls of block homes are made of concrete block with reinforcing steel rebar. Add 130mph impact resistant doors and windows and that's where you want to be in a hurricane!
@@richardjohnson8114 They started building concrete block houses back in the 50s in Florida that's what I live in now
@@RyanScribner Concrete block or cinderblock as we call it reinforced with rebar if I was to get another house or build one it would be concrete block if it was To stay in Florida Which is highly unlikely
Brick retains heat and is not a good choice for Florida. Reinforced Cinder block construction is the standard in new construction.
Between the heat, rain,humidity and the high cost of living, food,rents, house prices, all insurances the state will become a state only the rich can afford.
I BEEN HERE FOR 71 YEARS FLORIDA SUCKS , MOVIN TO WNC
And I'll say what I always say to this company... Who will be working for the state of rich folks? They are shooing everyone.. Including those who will work for them as well. No more lawns cut, houses cleaned, nothing. Me maybe on the way to being Jetsons but we're not there yet. So what do they do in the meantime? Absolutely ignorant what they are doing
Someone has to work on lowering those HOA’s fees or get rid of it all together. That is a forever expense even she you finish paying your house. Who is putting that money in their pocket?. I really don’t see the necessity of having a gym and all the amenities they offer, there are plenty of gymnasium every where for a lot of less expensive than paying for associations. Think about it please.
The development from the builders moves ground and trees. What happens is that streets and homes end up with water everywhere, more than likely in your home😢
Vero beach is the best kept secret. Ocean breezes, low prices, good insurance.
I live in Florida very near the highest elevation in the state my house is about 230ft above sea level. I think the insurance rate increases are valid near the coast and for flood prone areas. Lots of older Florida homes are old and need to be Hurricane/wind updated anyway.
Smart - what area of Florida? Have you run into any insurance problems?
@@RyanScribnerhe’s most likely talking about Clermont FL near Orlando
My home was built in 2019 and I am in NW Florida 40 miles north of Destin. I pay $1400 a year through progressive.
@@backcountryFLcyclistI'm interested. Where exactly? How are the schools?
@@backcountryFLcyclist Crestview area?
Really great analysis…. Thank you and keep it up
Thanks, will do!
Thank you for the update definitely appreciated the videos you are making 😊
Thanks for letting me know! I will keep making them 👍
Do Port St Lucie, FL!! There are a lot of new construction homes being built by big builders (like Mattamy Homes, Lennar, Holiday Builders, Ryan) that are pricing out resellers and smaller new construction builders.
Great suggestion, thank you!
I hope people who would think of moving into Florida, would change their minds. There’s lots of good places like the Carolinas and Texas. My poor half-destroyed Florida. “They’ve paved Paradise and put up a parking lot.” Joni Mitchell sure had it right. When I was raising a family here in SE Florida in the 1980s, it really was a paradise. Too many damned people have moved here and have destroyed my home. We bought way out in the lush green western West Palm Beach. Now builders are putting up million dollar homes with zero lot lines and blissfully cutting down the beautiful forests and killing all the critters who called it home. You see them dead on the roads. They have brought New York to Florida. I am happy when I see how poorly that is turning out for them.
Don’t forget that over 50 percent of all sales since 2021 are scumbag flippers and investors.
Some PBC neighborhoods have been completely destroyed and are now empty flips or empty rentals just waiting for the next sucker.
The real values aren’t even half of the new fake, fraud driven asking prices.
Wow, thanks for sharing! Not to mention, the Everglades have been significantly damaged too 😔
When you showed up, is that what people were saying about you in the 1980s who were already there? Funny how that works.
Why don’t YOU go up to the Carolinas or Texas? People that move to “YOUR” home are rich and resourceful and your happiness for things to work out POORLY for them will ironically only make you poor. Florida was a shiette hole until resourceful people moved there and built it to the amazing place it is today. You’re welcome.
@@moonwolf3378no that was cocaine.
There are a lot of people around the country that canceled their homeowners insurance. It’s a tough decision especially in states that have extreme weather, god bless those people! 1:31
House prices in Florida have doubled in 4 years and in my area they’re still going up. I’ve been saving up for 12 years and I was almost there in 2019 but 2020 onward really messed it up for me.
And with rising taxes and insurance I’d probably have to pay cash to afford it long term.
In my area the prices just aren’t coming down. There’s a few dumps where they’ve done some price cuts but they’re just not worth buying and the nice homes still sell at asking.
Probably will have to move to another state where I have no family and don’t know anyone if I ever want to own anything.
So sorry to hear that do loose hope .
Please do not use the word "crash". The inventory surge does not necessarily translate into a cheap price. I live in Tampa, and do not see any "crash". Houses in good neighborhoods in Hillsborough, Pasco, or Pinneas counties are still expensive.
I'd be interested in seeing you do a video with some more in-depth information about my area Lakeland Florida Polk County
Looking at the climate, the mosquitoes, the insects, the terrible humidity, the constant feeling of lethargy because you are breathing water (70% humidity levels) and start walking weird because the humidity starts getting through your body, muscles and bones + house prices that do not reflect the bad side effects of living in Florida (specially South Florida, where humidity is the worst) it is not worth it.
Side note, you have a great voice for radio and movies etc..but I like your style too! Keep it up!
Hey thank you very much!
Don't hate Florida is Great. #1 State in the country in all areas. That's why people are moving here.
I have been looking a house for 6 months, .... and I keep looking 500k
WHO ARE YOU KIDDING , I BEEN HERE FOR 71 YEARS , YES , IT WAS NICE FROM THE 50'S TO 70'S . NOW IT WILL BE THE NEW CALIFORNIA IN 5 YEARS , TOO OVERCROWDED , TRAFFIC SUCKS , HOT AFRICAN DUST HUMID WEATHER 9 MONTHS OF THE YEAR , THE SHARK AND LIGHTENING CAPITAL OFTHE WORLD ,YOU CAN'T SWIM IN ANY LAKE OR PONDS OR RIVERS HERE , BECAUSE OF THE GATORS AND BULL SHARKS THAT ARE NOW IN OUR LAGOONS , ALSO WERE SEEING GATORS AND CROCKS COMING OUT OF THE OCEAN , WAS JUST REPORTED . MOSQUITO AND FLIES CONSTANTLY , AND ANTS EVERY WERE . ROAD RAGE , SNOBS FROM THE NE MOVED DOWN AND DESTROYED FLA . AND THE TOWN I LIVE 123 MILES NORTH FROM CUBA MIAMI , THE SNOBS FROM MASS, RI , CONN. NH , JERSEY , NY ETC . OH BUY THE WAY , MY FAMILY MOVED TO FLORIDA IN 1950 WHEN SOUTH MIAMI WAS BEAUTIFUL . FINALLY MOVIN OUT OF THIS S--T HOLE STATE , AND MOVING TO THE HIGH ELEVATION WERE YOU CAN BREATHE AND WITH NO TRAFFIC TO A SMALL TOWN IN THE WNC MOUNTAINS . GOOD DAY !!!!
Florida is full.
Do a segment on the Keys please. Marathon
Great suggestion, thanks!
What about looking at the entire price history of the presented house. Like the house sold for $475k was sold in for $217k in 2003 and for $249k - in 2016. Plus, the property was previously resisted during the other sales as well. Just pause the video and make a screen, or research it. The house doubled in price since the last sale, whereas its increase was only $32k from 2003 to 2016.
It’s called cherry picking ..
Any property near the coast is going to have difficulty getting Insurance. Expect to pay around $20,000 A year for it to be insured.
Wild!!! The monthly homeowners insurance cost is almost as high as a total mortgage payment in other parts of the country
Nope. I'm directly on the gulf and had no problem finding insurance for way less than half what you said for my home worth around 800k. I'll pay 10k a year for insurance to watch dolphin, manatee play in my backyard.
Just came across your channel. Very informative, thanks! Please consider doing some videos all along the Gulf for people wanting to live near the ocean. I’m wondering how insurance is affecting those housing markets.
Thanks for tuning in and for the suggestion! We actually covered a lot of those areas in my last video here: ruclips.net/video/4nOW2aM8Q4k/видео.html
@@RyanScribner
That was going to be my next step to go and look at your Playlist. If it’s anything like my first experience I won’t be disappointed. All the best…
The prices are still high ,
For sure, here in Sarasota county prices have declined slightly but if you want to have a yard with even a quarter acre of land, prices are still completely out of wack
Then make more money we’re not selling for less just for you
How about Lady Lake and specifically Green Key Village? I have been looking there and trying to understand the development. There are homes over 10 years old and new construction in the same small development with resales that seem to be sitting on the market.
Polk county FL. Please
It’s crazy you’re more than 3/4th of the way to 1m subs. Well deserved. I remember the white board days!
One of the basic tenets of homeownership is having a roof over your head, or place to live. So to say it is terrible that in 18 years a coastal home has only increased 16% completely disregards the fact that it has provided SHELTER to a family during that time and they didnt lose their money to a landlord via rent but got their capital back PLUS 16% appreciation. Amd while the appreciationmay not be comparable to other markets, it may be beteer than pissing away $400k in rent and getting nothing at the end. Amd yes,nyoumdo habe to oay taxes and maintenance and insurance
I live in the SW Volusia County area (Debary, Orange City, Deland) and homes here are still selling quickly and often above asking.
The government could easily solve this by investing in infrastructure. Holland actually expanded its landmass but we are being shoved out of the state. It is absurd.
What about winter haven, lakeland area
Do not buy a condo in Fl. not even as a gift.
Polk county, Lakeland please
Thanks for the video you had mentioned if we could request a certain area could you do specifically Palm Beach County?
Thanks for tuning in, I appreciate the suggestion!
I'd be interested in a similar assessment with Jacksonville and St. Johns County area. Thanks.
How can anyone say a 25 to 30% price cut is substantial when the houses are massively overpriced. 50 to 60 % would be getting the prices back to reasonable.
With the pending surge of special assessments in condos, many owners will be forced to sell at fire sale prices. Deferred maintenance makes future inflation adjusted work so much more expensive especially as contractors are inundated with work. The next millionaire class will be your local plumbers and electricians. Condo owners will be underwater and begging buyers to take them off the hook.
Very true, I will be doing a video specifically about the condo crisis in FL soon
@@RyanScribner looking forward to it, I would highlight this comment next video, I’m betting condos will face a nice correction over the next 6 months. Those people who bought them at the highs of 2021-2022 will begin to capitulate going into next year IMO.
West palm beach is still doing Great. 😊
The only homes coming on the market in Florida are way out of reach of most of us, affordable housing is still not available...
Anna maria island in Bradenton
Thank you, very great information. Can you look at Jacksonville Florida?
Lots of inventory on the gulf coast because it's one big swamp! Nobody wants to live on the dirty gulf.
There are quite a few with damage from Ian, which has not been repaired. The banks as a result are becoming hesitant to lend. the result is good for the cash buyer who has money to abuse for a second home.
EXCELLENT VIDEO 🎉🎉🎉🎉
Very thorough. Thank you for the insight!
Florida is a nightmare now. If the storms continue we will get more than 15%
And there's always the potential for an Assessment if there is significant damage... 😳
I wish Windermere/Winter-Garden would see a bit of a drop.... they put extremely high prices on these homes and they sell🤦♀️
What you refer to as the historical average looks like the average of the short span of years from 2017 to 2024.
2021 and 2022 have a significant impact on the average being low when you look at such a short period and will make the 2024 number look like it is much higher than the average.
If you just compare it to the years before the pandemic the numbers are only slightly higher.
I had this thought a while ago, and it may be coming to fruition
There may come a time when no one can afford insurance… Which means they will not be able to get a mortgage which means people will not need to go into debt for their home! This might be a good thing for many. People will not be at risk of losing their home to BANK .
Yikes!! I would have to agree, especially in lower income areas - keep in mind Florida has the 2nd highest Credit Card delinquency rate out of the entire country too
Ryan, great RE vids. Thank you. Analysis of Savannah GA area or other southern GA areas might be nice. Keep up the good work. 👌🤙
Thank you! I appreciate the suggestion
Florida has an average of 50 to 100 ft above sea level. People move here and complain about flooding...DUH! Know where you live. The price of houses has increased therefore it cost more to replace them when destroyed by weather, fire and etc so INS goes up. When the cost of the property increases so do the taxes. I'm tired of people complaining about the costs of home ownership in our state. Don't like flooding, move to a state with mountains and less flooding. Don't like storms, don't live near the oceans. If housing wasn't in such demand to live near water, housing costs wouldn't be so high, hence tax and insurance costs.
Appreciate your statistical analysis on these properties! When you have the chance, can you research the Fernandina Beach/Amelia Island properties? Thanks.
Yep inventory on the Space Coast is highest it’s been in a decade. Good news is 18 months from now prices will be affordable!! Always a silver liner.
Pls do Saint Augustine / Jacksonville
Thanks for the suggestion!
great video
To bad panic sellers don’t upset the county appraiser. The local government refers to the low value sale as an aberration and pays no particular attention to it. The county tax appraiser just increases the taxes on the new owner and welcomes him to the county.
Great info - thanks for sharing this!
Great channel.
Please look for real estate in Lake City Florida. Especially, Airpark Homes.
Thanks
Could you do Ocala FL
What was the insurance or HOA increase?
Please take a look at Marco Island.
The “Hurricane” state
-2004 to Present time
Haha, good one! Maybe they will change the Florida Plates to say that 🤣
Born here in '71, went thru my first cane in '79. Nothing new but they are getting stronger. Thankfully forecasting and construction has gotten better. However insurance is insane because of it. People are getting priced out.
I have lived here for many many years nothing new about these weather events
What area?
There has always been a hurricane season every year, that's the nature of living in the sub tropics near water
Could you do more comparisons in Brevard County that are not on the barrier islands?
Could you take a look at Panama City and Panama City Beach please.
Palm beach
Davenport, fl
Please do a video on Pensacola, Pensacola Beach, n Gulf Breeze. Lmk when it's up
Thanks for the suggestions!
Pricing in Pensacola to Ft. Walton areas?
It announced weeks ago went up 14 approved for citizens
Wow! Thanks for filling us in
I would like to move to Lakeland a are close to Tampa could you please this area.thank
Hang in there, it will drop even more.
It's called the rainy season nimrod.
Since when is having affordable houses a disaster?
My coworker at a company in Santa Clara, CA took off work for few weeks and flew to Floria to buy a house.
WHAT A DOPE
@@user-nk4zg6ev6n LOL. I think so too.
Florida is full.
Big mistake! If he doesn’t know how to deal with hurricanes, tropical storms & tornados it will be a complete nightmare. No wifi, no internet to work from home. Plus no a/c, how to store food properly and flooding. Besides Insurance prices.
@@Avtr44 Wow. I haven’t been in Florida, so I have no idea. My co-worker bought a home in Florida in 2020. Now, he just bought another house there. Both of his 2 houses in Florida for rental. He said he will retire at 55 in Florida. Good luck to him.
Gonna start keeping an open mind and possibly make some offers, IF we like the place a lot. We will lowball. If it doesn’t work out no biggy. We had places we looked at and said nope and the realtors were pestering us to consider again, nah we decided against the properties. 😅. They got less, those who sold
I’m interested in what’s happening on Sanibel and Captiva islands since they are still in recovery from hurricane damage.
All of Florida stays perpetually in Hurricane recovery.
The number is listings- does that include new construction or is it all resale? That makes a huge difference bc construction is pumping out hard here in north Tampa.
This included new listings, but we will have to look at total building permits next video! In Hillsborough County it peaked at 15,140 in February 2023 - which is similar to the peak in February 2006 of 15,237 🤔
@@RyanScribner i had purchased an MI Home last year. I bought it $50k under market. I recently had it appraised and I’m still with a decent profit margin. I may sell. Just wondering what the market will look like in 6 months.
Crash faster! I need to buy a house in the next 2 mos, in Pinellas, manatee, or south hillsborough county 🤞🏽🤞🏽
The problem is New York. That's the standard for rent amd pricing Rich people all over the world go to New York to live rich people all over the world. Are not going to some random place in America to live?
For the rent and housing market to be so high, it's not sustainable and places other than ny And not sustainable there And big banks and institutional investments, owning half of the homes in america
Florida!! 🌴
I am seriously contemplating buying a house in either lakeland, or Srping hill area. I have rented my whole life, and have 0 chance of ever owning anything on Long Island. Am I crazy should I wait for the market to pull back or just go for it? And ps I am not bringing NY bad politics with me. Lol
Buy with zero down, so if the market nosedives the bank will eat the loss
I personally think and hope that prices will decline. However keep in mind that timing the housing market is like trying to time the stock market, it's a game of chance
@@Bob-w2b8j thanks fpr feed back
I’d steer clear of Spring Hill. It’s “Sinkhole City”.
@@timslater566 thanks for input, rethinking maybe its better to rent at first so I can get acclimated and have a better assessment while down there. Also maybe get a pull back in property valuations
You are confusing things. As you said, Citizens is an insurer "of last resort", but then you complain that Citizens is depopulating policyholders who have been offered alternative policies from other insurers. If another insurer will provide coverage, Citizens isn't by definition the "insurer of last resort".
ck out Highlands county...Sebring pls..
How can anyone retired afford these places with such high taxes ?
You can get a roof permit in 5 business days in Florida - not months.
Wow! It took me over a month to get one in Miami Dade back in 2021
those home listing sales are irrelevant without knwoing the comps. anyone can ask stupid prices, but with you not listing recent comps, you dont show your viewers the recent market prices of the neighborhood to compare.
The housing supply increase is not a disaster.
Travelers Insurance recently reported record profits. TRV stock price is on a steady 3 month downtrend, but still up for the year. Looks like Wall Street is expecting slow moving train wreck - I'm betting TRV will completely exit FLA
Hey Check Out Weston Florida!!
Ive been renting at a bargain compared to NYC and am waiting for the crash while saving and investing quietly 🎉🎉🎉
How much will insurance cost next year?
There probably will be no insurance