Florida Housing market heating up....

[Cash Bar]

I have been more busy in the last several weeks tha I have been in 18 months. The sub-$250 market is on fire. I sold a members' aunts house in the $175k range in 3 days(20day closed) and another $239k house in 11 days(14day close).

All my listings have been swamped with showings. Even the realistic waterfront is going fast. I showed a $699k foreclosure the other day that had SIX people looking at once. Under contract that afternoon. :)

The $100kish single family homes are averaging under 30 days on the market in decent areas. Lots of good money being made in the buy and rent market.

As such, I have taken a MAJOR STEP. I have resigned from my bar job after 22 yrs in the business. I always stayed in as a backstop for my other career and I liked the $600-$1000 extra a week. Now I will live or die by the Real Estate market. :leaving:

I have been on the edge of needing an assistant so I decided to take a swing at it on my own. Hope it works or that Skater/MTI will be on a longer hold. :(

[Tommy Gun]

Best of luck...glad to hear of some things improving.

[Perlmudder]

best of luck cash!

[Cash Bar]

Thanks guys !! I'm really looking forward to the challenge. I think..... :)

[stecz20]

good job homo.. now find me a building...

[inbetween]

That's great news! You're East coast, right? How's the west coat doing?

[MOBILEMERCMAN]

I saw last night on Nightline Cape Coral was hot like you are saying. Many think this is a good time to buy. Deals are waiting to be had.

Best of luck to you Cash

[bajacleveland]

I saw last night on Nightline Cape Coral was hot like you are saying. Many think this is a good time to buy. Deals are waiting to be had.

Best of luck to you Cash

I like how they were showing the houses by boat.

[Expensive Date]

Coming back on the plane Sun I talked to a few people that had gone down just to look at houses.

[Sydwayz]

With the new 90% AIG Bonus Tax; they will probably all foreclose again in 3 months. :D

Good luck Greg!!!

[fund razor]

I have been more busy in the last several weeks tha I have been in 18 months. The sub-$250 market is on fire. I sold a members' aunts house in the $175k range in 3 days(20day closed) and another $239k house in 11 days(14day close).

All my listings have been swamped with showings. Even the realistic waterfront is going fast. I showed a $699k foreclosure the other day that had SIX people looking at once. Under contract that afternoon. :)

The $100kish single family homes are averaging under 30 days on the market in decent areas. Lots of good money being made in the buy and rent market.

As such, I have taken a MAJOR STEP. I have resigned from my bar job after 22 yrs in the business. I always stayed in as a backstop for my other career and I liked the $600-$1000 extra a week. Now I will live or die by the Real Estate market. :leaving:

I have been on the edge of needing an assistant so I decided to take a swing at it on my own. Hope it works or that Skater/MTI will be on a longer hold. :(

Hope it works out too. Thanks for the good news on the market.
I have been following a couple of sample properties as kind of a test of what is happening to my donor's overall outlook. A house in Bloomfield Hills Michigan worth 500k had lost 21% in the prior year and 25% over the last 3 turned the corner and went back up. About 16k in a 30 day period. A check of the zip code showed a composite stabilization and a check of Oakland County showed values beginning to stabilize, too. Good news is good news.
Good luck.

[Ted]

A lot of people are sitting on a LOT of money they are not really anxious to put back into the market, that combined with realistic values makes real estate very attractive. I have been thinking about it too, there are going to be a lot of qualified renters that have been foreclosed and will need some time before they can buy again.

[mosi]

Speculators were one of the groups that caused the problem......
.
.
.
.....Now, here come the Speculators to profit from the problems!!!


Only in America!!!


.

[Davidmnc]

Great news Csh Bar! Now get to work!

[Sea-Dated]

Good Luck Greg! I am sure it will be worth it and you will be ordering that VW Bug themed MTI any day now. :biggrinjester:

[MahopacMarine]

Thats great to hear Cash!!! Best of luck.

[Knot 4 Me]

Good to hear, Cash. Best of luck to you!

[Wardey]

Congrats Cash !!!! We have been doing alot of room additions on existing houses. Same thing I saw back in the late 80's. People holding their houses and adding to them. Dave

[Cash Bar]

Thanks all. I will have a new PERSONAL website up in a few weeks. I will need opinions when it's live..... :puke:

I found a great designer on referral and he works fast and on budget.

[Lomax]

Congrats brother !!! Now lets do some business together !!!

[yesrej]

congrats and good luck cash!!!

[rbhudelson]

As such, I have taken a MAJOR STEP. I have resigned from my bar job after 22 yrs in the business. I always stayed in as a backstop for my other career and I liked the $600-$1000 extra a week. Now I will live or die by the Real Estate market. :leaving:



Greg, good luck. Going without a net or plan b is the only way to do it. It gives you the ability to focus....

[Buoy]

Good luck! Hope the business continues to boom for you.

[Clustergear]

Your right it must be heating up. I have had our house in Englewood Fla for sale just over two years two months and no offers. Got two offers last week, insp is done and we closing in less than a month. But I am still taken a bath as to what it would have sold for 3 or 4 years ago. We have to look at the bright side its payed for, so we get to keep the money. MAYBE a new BOAT????

[BlackJack58]

Figured it was only a matter of time before things picked up again. Too many good deals to be had. Best of luck to you!

[Cash Bar]

But I am still taken a bath as to what it would have sold for 3 or 4 years ago.

First Congrats !!

Second, just think of it like Blackjack in Vegas. You may have run it up a bunch, but what you walk away with still matters.

Hell, AIG was thru the roof not too long ago, and so was Madoff's fund....:ack2:

[catmando]

Always great to hear positive stories especially these days. Looking forward to your new website. Florida has always been my favorite state. Even the Redneck Riviera is looking good.

[bluellama]

Cash, give me a call next week. I've some guys looking for East Coast Rental/Invest singles.

[cuda]

Never in the history of mankind has real estate gone down, and stayed down.

[fund razor]

Never in the history of mankind has real estate gone down, and stayed down.

The area around Chernobyl won't pick back up for a while.

[Buoy]

The area around Chernobyl won't pick back up for a while.

I found a great deal online out there, was seriously considering it...
As an investment.:sifone:

[RollWithIt]

Thats great to hear Cash. Chris told me you were keeping busy. I still need to get up with you one of these days. The new truck purchase kinda set me back on the new boat purchase.. But I still have plans.

[Cash Bar]

Cash, give me a call next week. I've some guys looking for East Coast Rental/Invest singles.

Will do Steve. Now is the time.

Greg

[RLJ676]

Hope it works out too. Thanks for the good news on the market.
I have been following a couple of sample properties as kind of a test of what is happening to my donor's overall outlook. A house in Bloomfield Hills Michigan worth 500k had lost 21% in the prior year and 25% over the last 3 turned the corner and went back up. About 16k in a 30 day period. A check of the zip code showed a composite stabilization and a check of Oakland County showed values beginning to stabilize, too. Good news is good news.
Good luck.


As somebody who owns in that Oakland County, I'm glad to hear at least there might be stabilization. I sure can't afford to sell now, but it at least means a rebound could be in sight. At this point I'll take any good news around here.

[masher44]

great another sh1t bag moving in to real estate full time :03:

[cuda]

The area around Chernobyl won't pick back up for a while.

I don't recall the real estate market being very high there. I think that's the reason they put a nuclear reactor in.

[BobbyB]

Cash,
Thats great to hear. Good Luck with jumping into it full time. Make sure you keep us posted on how it goes.

[Cash Bar]

great another sh1t bag moving in to real estate full time :03:


It's always been full time, but it paid like part time. :ack2:

Now I'm trying to make it pay BIG TIME .. :sifone:

[JupiterSunsation]

Greg,

Anything selling in Harbor Beach area in the 5-10mm range?

[Magic Medicine]

Congrats hopefully this is a sign of good things to come for the rest of the country!

[Cash Bar]

Greg,

Anything selling in Harbor Beach area in the 5-10mm range?

Have not looked in that range in March. But my GUESS would be YES.

As an example, 57 properties sold in Royal Palm Yacht & Country Club in 2008. There were only 54 in 2007. Average selling price was UP about $50k. It would have been MUCH more difference except for the $19M house that sold in 2007.

Some areas just don't feel it quite as bad as the general market. :)

[JupiterSunsation]

Have not looked in that range in March. But my GUESS would be YES.

As an example, 57 properties sold in Royal Palm Yacht & Country Club in 2008. There were only 54 in 2007. Average selling price was UP about $50k. It would have been MUCH more difference except for the $19M house that sold in 2007.

Some areas just don't feel it quite as bad as the general market. :)

One house sold for 12 on paper and a few million for the furniture. David Roberts (the realtor that specializes in RPYCC) set the record for the neighborhood last year at 10.5mm for a single lot home (the 12mm house was on 2 lots) after selling his prior home for 7mm. All in 08.

I know someone choking on a home in HB, 5mm mortgage and tax bill of 200K due this month........He had dreams of getting 10mm for the house but I think he would be lucky to get the loan payoff now.........

[BlackJack58]

Hey Cash - have you ever used Twitter at all?

I am just seeing a boatload of Realtors on there - a lot of them use it to exchange useful info and links, post photos or videos of properties...it's kind of interesting how people are using it. I follow/am followed by a few who are into boating, or work in areas where boating is big. If you ever want to see what I mean - here are a few examples:

http://twitter.com/hawaiirealty
http://twitter.com/rmasse10
http://twitter.com/beachrealestate
http://twitter.com/KathyStilwell
http://twitter.com/rocknrealestate

Maybe you're already doing it, maybe it might be helpful - just thought I'd mention it. Good Luck, man.

My own Twitter: http://twitter.com/bigbadboat

[VtSteve]

Fantastic timing there. Glad to hear things are perking up, lots of tremendous properties available down there at great prices.

[Cash Bar]

One house sold for 12 on paper and a few million for the furniture. David Roberts (the realtor that specializes in RPYCC) set the record for the neighborhood last year at 10.5mm for a single lot home (the 12mm house was on 2 lots) after selling his prior home for 7mm. All in 08.

I know someone choking on a home in HB, 5mm mortgage and tax bill of 200K due this month........He had dreams of getting 10mm for the house but I think he would be lucky to get the loan payoff now.........

Correct. David is the MAN in RPYCC. I am working with his office now on a GC view home in the north end.

HIS highest was a $10.6 in '08. I just realized the 30k sq ft home is ACROSS the canal in Deerfield. :sifone:

Harbor Beach is tough without a PRIME lot. Even at my paltry asking of $1.5 in HB Inlet. I had to hang up on a sign caller over the weekend trying to tell me he would pay $800k in September for it. :rofl:

$200k tax bills are the reason I will NEVER own ICW property in Florida. :ack2:

Even on the cold-day-in-hell chance that I can afford it.

[Cash Bar]

Hey Cash - have you ever used Twitter at all?

I am just seeing a boatload of Realtors on there - a lot of them use it to exchange useful info and links, post photos or videos of properties...it's kind of interesting how people are using it. I follow/am followed by a few who are into boating, or work in areas where boating is big. If you ever want to see what I mean - here are a few examples:

http://twitter.com/hawaiirealty
http://twitter.com/rmasse10
http://twitter.com/beachrealestate
http://twitter.com/KathyStilwell
http://twitter.com/rocknrealestate

Maybe you're already doing it, maybe it might be helpful - just thought I'd mention it. Good Luck, man.


My own Twitter: http://twitter.com/bigbadboat

I was asked to join twitter by a member here a few weeks ago. All I could think was how many of the f'n social sites am I gonna need to join. :ack2:

I will check into it more on a biz level now tho. Thanks

[Cash Bar]

Great article on the spike in sales in South Florida.

http://www.sun-sentinel.com/business/sfl-home-sales-florida-february-032309,0,6936693.story

[Biggus]

We're doin' OK up here in Maine. My neighbor just went up another story on his fine pad.:sifone: