Hm I posted the url before but it looks like forum converted to an attachment-- this one is similar site
http://www.lao.ca.gov/reports/2012/tax/property-tax-primer-112912.aspx
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Looks like Fannie getting ready just now for higher price. http://www.cnbc.com/2016/11/23/us-regulator-to-raise-mortgages-limits-for-fannie-freddie.html
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Talking nationally. Could be true.
Just got back from Orlando. They still have space to build and they are growing fast. Desireable cities still have plenty of empty buildable lots (compared to Bay Area) but if economy continues those lots could be gone in a few years. On the other hand I suspect these lots previously had run down homes which have been cleared so maybe they have to tear down all the old homes before a shortage occurs
I remember that many Orlando SFH homes selling for under $100k, even for $50k. I think that the construction cost is more than the selling price.
In many parts of US, housing is overly cheap and many houses are selling for less than Construciton cost. People prefer new homes and they would rather spend $200k or $300k to buy a brand new home instead of a $80k old house.
Iāve been wondering whatās wrong and why we waste so many houses and sell them cheap and even keep many houses empty in many parts of the country
Make American Expensive Again!
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I think so. I see many listings where they tear down $200k house and sell new $750k house. This is approaching Bay Area prices (but list price in Orlando is overly optimistic).
Can also buy lot for $50-$200k, thatās why Iām interested in prefab. Why let a spec builder choose your floor plan and finishes?
Common to see 6 mo pending in Florida. I donāt know why they donāt just price right to begin with?
Carrying costs not worth it
So Orlando is a done deal? Did you visit Tampa?
Any places that you know might be near full development in 5-10 years time? We can go in now to buy on the cheap.
You better take control and you dicide where you want to develop in 5-10 years.
If you are willing to join, Iāll do some study and identity some area that we can buy the whole neighborhood as a partnership. Afterwards, weāll become the lord. We can tear down all the houses and build a brand new community. We can sell off, keep it as a mini-REIT among partners. But this may require too much capital and it might be a challenge to get enough people committed
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No it was just a trip for fun (universal etc) and we looked at some open houses cause thatās fun too sometimes
(But we really liked the area so itās still in consideration for a move some dayā¦ if the scouting trip went poorly weād cross it off the lost)