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REAL ESTATE Best/worse places to buy

andviv

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I thought this would be another "buy where is expensive, don't buy where is cheap" article.

The Palm Beach vs Miami kind of surprised me.
Miami not appreciating in the next decade? hard to believe for me.
Tampa or Clearwater I agree. The port in Tampa is seeing a lot of improvements so I am expecting more jobs as more big cargo ships will be using that port.
it also surprised me that she mentions Las Vegas but not Phoenix. I think the job market for both cities are similar, and both are attracting retirees looking for Sunbelt states to retire to.

I don't know anything about California, so I will leave that one alone.

Good finding. rep+
 
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kurtyordy

kurtyordy

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Thanks for the rep. Personally, my money would be in Florida if I was into investing out of state. That however, is bigger than my comfort zone right now.
 

andviv

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That however, is bigger than my comfort zone right now.
I remember reading somewhere that you are probably making all the money you can in your comfort zone. The big money that is missing from your pocket is waiting outside it.


I recall the video for the interview with Donald Trump where he said that the two areas doing right in RE were Manhattan and Palm Beach FL.
 

Reisteve

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andviv:

Vegas may be attracting retirees, but the workforce is still built on the whole hospitality industry and gaming industry.

It will be a while before I go to Phoenix to play craps...

Just a thought...

Steve
 

andviv

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wow, trump thinks like me, that should be scary for him
As long as you don't go shouting "you're fired" to everybody then I think the Donald can be quite safe.
 

hakrjak

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Thanks for the rep. Personally, my money would be in Florida if I was into investing out of state. That however, is bigger than my comfort zone right now.
Florida is still pretty overpriced compared to the rest of the country, and their insurance costs have risen to the point where it's really cranked up the payment for a lot of homeowners there. A lot of retirees are getting a shock when they get their rebalanced escrow account payment this year after all those hurricanes.

- Hakrjak
 

bigmako

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I have folks that live in Tampa.
I can honestly say that the housing market there is substantially less in price considering what the market here in California is.

Average cost of a "dream" here is roughly around $450K, and that is usaually a fixer-upper!
 

andviv

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Florida has a lot of bargains these days.
Properties that break even at current asking prices, with just 10% down. (look this, for example, and these are properties I did not put any effort into finding, haven't even looked for motivates sellers)
Insurance cost has been going down a little bit.
Almost new construction for under $70/sq ft

It does not look that bad to me. But hey, that is just my opinion.
 

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Edge

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Personally, my money would be in Florida if I was into investing out of state. That however, is bigger than my comfort zone right now.
Is it out of your comfort zone because of size or proximity?
 
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kurtyordy

kurtyordy

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proximity. I was raised keeping the props within a 10 minute drive. It is hard to break something so ingrained
 

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