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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Perspective who wrote (238403)	3/2/2010 1:37:00 AM
From: John Vosilla	Read Replies (4) \| Respond to of 306849

Well RE is now a bargain in most of the rest of the country outside of our major gateway cities along the coasts. We have $20-25k condos once worth $200k here in FL that rent for $750+ a month. Of course HOA dues are a killer but cap rates are in the high teens and a competing builder even in 'deflation' can't even pay for soft costs including professional fees as well as impact fees plus put in the roads and the utilities for that price let alone buy the land, actually build the buildings and the common grounds<g> Looks like even Phoenix pricing is quite reasonable probably even lower single family compared to much of FL for what you get. 335 newer decent sized 3/2/2's under $70k can't be built by a builder for anywhere near that unless he got the land for free, the lot was already improved and impact fees were waved. realtor.com

To: Perspective who wrote (238403)	3/12/2010 5:40:55 PM
From: Archie Meeties	Read Replies (1) \| Respond to of 306849

It's a highly desirable place to live, with great schools, natural beauty, culture, good infrastructure, limitations on sprawl, great ballet, skiing east, coast west, one of the most literate city in the nation, highest per capita microbrews, temperate climate, etc. If it wasn't for the rain the place would be overrun and property values would be similar to SF. Did the Pearl district values go down at all? If they didn't, I'd look there for the best potential.

To: Perspective who wrote (238403)	3/12/2010 7:02:50 PM
From: orkrious	Read Replies (3) \| Respond to of 306849

I live in Portland, Oregon, and I really don't think property values have come down enough here. Seems like we're on the very trailing edge of the bubble. Prices are still 2X what they were just over ten years ago in many places. There just isn't any justification for it. Incomes have been stagnant. You should check out the Detroit suburbs. You can get a decent place for the same price as in 1990. Of course, you'll need a job, and wages have come way down. You'll also need fairly sturdy transportation. The roads suck. I just replaced a tire with 12k miles on my wife's car. The guy at Discount Tire called it torque damage. It could have been caused by a variety of things, but around here the likely explanation is a pothole. If you come here for cheap housing you'll also have to put up with a depressed population, and skies that are cloudy and grey all winter. We do have the best golf courses in the country here (especially up north), with more courses per capita than any other state. Golf is cheap, too. They built way too many courses when times were good. You can play a nice course for the same price as 15 years ago. You should check it out. There's a lot of great things about this area.