Posted by ski on April 25, 2006 at 19:23:07:
I invest in swfla near ft myers. The values have stabilized over the pasrt few months. About 8 mnts. ago there were about 600 houses on the mls. Today there is in excess of 18,000. Quite a difference. The prices are now being reduced by as much as 40k on a 200k property. This simply means that there is a CORRECTION going on. I bought right and if I have to reduce the price I will still make out pretty well.
Any investors from Florida - Posted by Anna
Posted by Anna on April 24, 2006 at 23:11:14:
Hi
I am in the process of moving to Florida. Is anyone interested in sharing their insights about the Florida market.
I am in Arizona now. Just miss the beach so much so planning get to Florida and settle down. What type of deals is everyone doing?
Central Florida - Posted by Harold
Posted by Harold on April 26, 2006 at 01:51:57:
There are areas in Central Florida that are growing and very affordable. Have you checked out around Putnam County? There are areas like Interlachen Lakes Estates that are worth considering.
Re: Any investors from Florida - Posted by Mike
Posted by Mike on April 25, 2006 at 11:18:53:
Hi Anna,
I have some properties in Florida. What area(s) are you thinking of moving to?
Mike
Re: Any investors from Florida - Posted by Joe
Posted by Joe on April 25, 2006 at 11:11:50:
Moving from one inflated market to another inflated market?
Re: Any investors from Florida - Posted by Luke Hoppel
Posted by Luke Hoppel on April 25, 2006 at 01:27:05:
Florida is a big state. Where are you planning to move?
Re: Any investors from Florida - Posted by Anna
Posted by Anna on April 25, 2006 at 11:59:07:
I am trying to locate a slow market in Florida to invest. I can move to any town in Florida as long as there are good deals to make. Where do you invest in
Re: Any investors from Florida - Posted by Anna
Posted by Anna on April 25, 2006 at 12:01:08:
Joe
Thats what I am trying to find out if there are any areas away from the crazy coastal prices and invest inland. I dont want to be in Miami or west palm beach, not now.
Re: Any investors from Florida - Posted by Anna
Posted by Anna on April 25, 2006 at 12:02:50:
Luke
Thanks for your post.
I am not tied to any city and can move anywhere. Thats why I am trying to find out if there are any inland areas where the market would be slow. That way I can live close to beach and invest inland.
Any suggestions?
Re: Any investors from Florida - Posted by Joe
Posted by Joe on April 25, 2006 at 14:37:38:
Perhaps my other comment was a bit smart-assish. 
But, I have heard that northern FL isn’t as bad. Up in the pan handle, and a bit inland. Places like Tallahassee.
Re: Any investors from Florida - Posted by Alexander (FL)
Posted by Alexander (FL) on April 25, 2006 at 12:06:52:
South Florida and Miami are a great market to invest in. Lots of activity but you have to know what you are doing.
Here’s an idea of what prices in a good area (Coconut Grove) look like.
Duplex lot, about 6,250 sq/ft with a tear-down $600K or more.
Townhouse, new construction, about 2,500 sq/ft, small pool $800K.
Re: Any investors from Florida - Posted by Jack
Posted by Jack on April 25, 2006 at 16:56:39:
There are very few if any areas in Florida which are not hot. In my opinion now is not the time to invest there or manny other places. Wait until prices at least level off or drop considerably.
Re: Any investors from Florida - Posted by Bob Smith
Posted by Bob Smith on April 25, 2006 at 22:05:48:
If the lot with teardown is $600k, what are you building on it, how much does it cost to construct and hold, and what’s a reasonable selling price after you’re done? Can you build 2 of those $800k townhouses on that lot?
News flash… - Posted by Barry (FL)
Posted by Barry (FL) on April 25, 2006 at 18:56:18:
they already have started to level off.
drop considerably…I doubt it.
Re: Any investors from Florida - Posted by Alexander (FL)
Posted by Alexander (FL) on April 26, 2006 at 19:08:39:
Two townhouses with a common wall. The typical 2,500 Sq/ft unit will indeed resell for $800K.
We’re currently building two units on one of these lots in the Grove.
One unit is 2,500 sq/ft, the other is 3,200sq/ft.
Greg is right. There is much going on in the nicer areas of South Florida.
In Boca Raton, about 50 miles north of Miami, they are tearing down 3,000 sq/ft -nice- homes on the water to build 5-6,000 sq/ft mansions.
Asking price 2.5M and up
Gives you a pulse, doesn’t it?
Re: Any investors from Florida - Posted by Greg(FL)
Posted by Greg(FL) on April 25, 2006 at 22:20:41:
I know you’re not going to believe this, but the $600K quote Alexander gave you for a buildable lot is quite the norm in some areas. It’s truly amazing. However, not my cup of tea. Saw someone do exactly that, then build a mini-mansion. Tried to get $1.3m for it and is now living in the house. Sheesh.
Greg(FL)