Florida Tops List of 15 Most at Risk Housing Markets | Tampa and North Port Lead
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- Опубликовано: 18 сен 2024
- A new report detailing the 15th riskiest housing markets in the Nation for a home price correction has Florida square in the crosshairs. The state dominates many of the top spots, with several in Southwest Florida.
Meanwhile, the new media attention on the Florida housing market has led some to call certain locations in the state the best deals around. We explore all this and more in this video.
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Ben Grieco
Broker Associate
Call/Text: 845-674-5290
Email: BenFloridaAgent@gmail.com
SL# 3330499
Coldwell Banker Sunstar Realty
2825 Tamiami Trail, Punta Gorda, FL 33950
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DISCLAIMER: This RUclips channel is intended for entertainment purposes only. The owner of this channel, Ben Grieco, makes no representations as to the accuracy of any information on this site, contained within the video, or available in comments. Ben Grieco is not a licensed financial advisor and the views represented are not financial advice nor legal advice. Please consult a financial or legal professional before investing. The information on this channel does not substitute consultations with local real estate agents, mortgage brokers, insurance brokers, financial advisors, and/or lawyers. The information provided is subject to change. The use of the internet and digital methods for communications with Ben Grieco such as e-mails does not establish a formal business relationship.
He is the most honest FL realator on RUclips
I almost bought a home in North Port six months ago, but it just seemed too expensive and too risky. Am glad I got cold feet.
i am selling my single family home by owner directly . 15 min away from Downtown Orlando .
Zillow FSBO 1074 Hamlet Dr Maitland, FL 32751
The title company does all the work between the seller and the buyer with 0% commission 🎉.
Great deal to save Money 🎉🎉
North Port used to be DIRT cheap. this has all been so crazy, waiting for prices to come down!!
Prices are going down here in Palm Beach county. Soooo many homes listed for sale! Many sellers are taking their house off the market unsold. Great content Ben, thank you.
And the hits just keep on comin! Another great report.
I love your channel! I am a new home counselor with Mattamy Homes at Sunstone in Wellen Park. Your videos are so helpful and I appreciate your honesty.
This is good news for us.
Yup, property tax and insurance premiums skyrocketing. Excellent, timely info. Viewers - if you haven’t yet subscribed to this channel, strongly recommend doing so. Especially if you live in FLA or considering a move to the sunshine state.
Great information! Thanks for sharing from a Chemist/RE broker who left MD and is now a FL daytrader!
In Tampa. New small cramped townhomes with no front or backyard in Seminole Hgts pn Nebraska Ave. Starting at $ 575k. !!! Hookers. Homeless and druggies for neighbors !!! Unreal ?!? This builder gonna get a real awakening when project is completed in 3-6 months
In Naples, the new home builders ask $500k for a house then the site premium is +$200k plus! I don’t get how they can still be doing that!?
And yet why do I hear these other Florida real estate agents telling us how everyone wants to move to Tampa? I don’t get it.
That's how they make money
In their defense the inventory growth in Tampa has been very sudden. Its still very short supply but grew rapidly in the last few months. I was surprised to see almost 50% of their listings having price drops on this report.
Tampa SFR inventory is holding up ok imo so far although that may change.
They lie
We’ve had several friends leave the area and more will be going, it’s a bummer only for that reason. I’m getting pestered by agents and friends are telling us about their friend who wants to sell. Because my dumb friends mention us 😂. But now we are halfway to forget it, maybe rent here and buy in another area.
Tampa. Many stale listings in my neighborhood. Some have moved, much less than asking. Nice neighborhood, not high dollar really imo. If we like something we may go for it but we rent a nice modern townhouse so no panic. We would have to love it though.
This is just the beginning! Anybody thinks differently. Lol. SWFL local job market can't sustain average price 400k junkers. Repo all time high next up foreclosure
All the coldest markets have been hit by Hurricanes recently
moving to upstate south calorina
I agree with you on so many points! Thanks for the validation.
We've been house shopping here in Tampa for the last year and what we're seeing now is that home prices are being reduced a couple times a month and sometimes even weekly however, the cuts are small (usually 1K-5K on a 400K-500K house). We're also seeing overpriced homes sit for a few months with a few decent cuts along the way, then the listing is removed and re-listed a week or two later back at what they were originally asking. Very annoying situation.
That is what I started seeing in Charlotte and Lee Counties last year. Same small cuts to start. Now it is much more reasonable. Hooefully it eases in Tampa for you guys as well, though the economic conditions are different.
@@bensellin Are you in Charlotte? I'm looking at Punta Gorda, Port Charlotte or North Port!
Long time follower - Thanks for this video. I think better times are ahead in 2025
Honest question: why would it get better in 2025?
Interesting comment, older people who bought properties in FL the early 2000's are "aging out" & going back north. This story should be further developed!
Great review of that article and graph showing homebuyer having to pay over 40% of their income over the past 2 years. It's crazy! You're so right, it would be stupid to lower rates with the risk of inflation returning. But it sounds like they may give teaser lower rates to look good before the election. Thanks for hanging on there to give us the real data for Home Buyers as well as Home Sellers, who are obviously reacting more cautiously currently. Keep up the great job! 👍
Thank you! Yes it is starting to seem like they will do at least one ceremonious rate drop, at least according to the media.
I like the delivery of your content. No bs and to the point. Im not sure if i want to relocate to FL yet, but I'm keeping an eye on the market. Dealing with hurricanes is the biggest negative for me. East TN is my other choice, but there doesn’t seem to be any decline there at all.
Thank you. Tennessee and a lot of the Southeast region holding up very well. Still reatively affordable and don't have as big of a natural disaster risk in my opinion. A lot of people that left Florida went there.
When you said many of the older population is „aging out of the state“, I thought it was a new way of saying they died.
😂
Lol that is one way to leave I guess
Really good information, thank you! Heard Florida will be kicking the can on condos well into 2026. Rep. Lopez said not to buy a condo until 2026. This will be the scenario all over Florida. Structural Engineers are so backed up they are booking well into 2025. No one wants a crazy assessment in the meantime.
Take a look at all the homes that Invitation Homes has purchased in the burnt store Village they bought the houses, but they still can’t rent them out. These are brand new houses that the builders could not sell like to see a story about that
The rental market here is so oversaturated now
Ty
I am in St Pete. Inventory is neutral imo. We have few condos, hoa's, or new construction so that seems to be keeping a floor on prices. Luckily I am not in a flood zone and my homeowners insurance did not go up (1.5K premium on a 400K 3/2 srf). Great content as usual Ben!
Thank you! Yes on a months supply scale that area is still tight and considered a sellers market. It has risen quickly but recently but we will have to see if that continues.
Any thoughts on Inverness?
How is north port in a non hoa area single story home with pool? Close to good schools in venice
It's all done but the crying. "99 Homes" (2014 Broad Green Pictures) is the next stop on this tour.
I remember when this crash happend back in 2008 and lasted for 10 plus years! in SW FL. Bottom line when prices surge they will tank at some point. If you look at the history of FL real estate it is peaks and valleys, boom and bust. What happened to substainable growth?
Stay out of Ocala! It is a shit hole with nothing good and that why it is cheap which is what is driving people to move there. It attracts horse workers, lower income retires, and blue collar. There is a ton of wharehouse work there. Very high crime and drugs in the area. There is nothing to do and it is far from the good areas, the beach etc. There is a reason why it's affordable compared to the better cities in FL.
Ben, that analysis would take a moderately talented data scientist only a few hours with a properly configured API access. If you’re using Excel it would take days if not weeks. Anyone with Python, R, and SQL experience can do this in their sleep.
Im too old school I guess
@@bensellin Ben - What you get that a data scientist wouldn't detect is context. That's why your insights are valuable. Charts and graphs and lists are nice but they need placement in a narrative to make them impactful or relevant - you do that in an engaging manner!
A buyer's market is one where the price returns to pre pandemic levels. I don't consider it a buy when the seller makes twenty percent for 3 years of ownership instead of thirty percent.
Made 50% in Sarasota 21-22, 2 years, then sold but prices still fairly steady even with insurance, property taxes and hoas going up. Hard to believe just 40+ miles south so many price declines and huge inventory. Why?
Love your presentations but every time you say “guys” it reminds me of that Michael Bormedaro RUclipsr. He’s a doomsday former real estate agent that for the last 3 or 4 years has been yelling crash. Then uses his channel to sell 😅
"Folks" 😁
Transportation infrastructure will be maxed out soon if not already in Florida. Then hang onto your hats for taxes & all insurance products to go higher than inflation. Will CDs come more into prominence?
Not agree, at least a 100 bps represent more than 300$ in the monthly payment
People aren’t living longer. The life expectancy in the US has gone down.
Leaving the market is the realtor term for death.