How far will Florida real estate prices fall?

[@edwardsierra4709]

Living in the West Palm Beach area, we have yet to see reasonable prices. Yes, prices have dropped slightly. But a $50,000 drop on a house listed for $700,000 that 3 years ago sold for $200,000 is not a deal by anyones imagination.

[@velecico]

nothing went up from 200 to 700 anywhere in US

[@LlyleHunter]

It certainly did in Southern Florida. We had Florida prices a few years ago and Northeastern prices now since COVID

[@TroyFunkBroker]

I know some area that went up that drastically in Florida and the prices are coming down (slightly), but not even close to where they were a few years ago.

[@FloridaCCIM]

@@TroyFunkBroker they will get back to 2020 to 2021 levels. This is a bigger faster bubble. It will come down faster.

[@GF-gc2kq]

@@velecico You are blind! Everywhere in Florida this has happened. One house I was looking at was bought for 37k is selling for 400k...just 3 years ago!

[@SuperQdaddy]

Don't buy a 300k house for 450k...and prices will drop...the hype is over

[@hermantracey5976]

I have lived in Florida over 50 years currently living to land We're always people moving from New Jersey New York Mostly blue States driving the prices up they'll be here a few months and realize they can't make the money that they make up North they'll be leaving But Florida has always been kind of recession proof so I bought cheap and I plan on staying until I die Most people from the North can't deal with the humidity in the heat so they'll return It's all About supply and demand Also central Florida is the safest place to live in Florida I go along with your opinion 95% of it thank you

[@ursulamullikin4723]

Obviously people are not very bright because they've been paying $400,00for $200,000 houses and now they're going foreclose because they could never afford them to begin with

[@TroyFunkBroker]

Thank you for sharing

[@Don-zs7pt]

Exactly people were way over paying for houses just to buy houses

[@Mihorbi77]

@@hermantracey5976 thank you

[@Pondapple]

I buyers (the Zillows, Redfin's, etc.) when they rent out the houses instead of selling, sometimes become Zombie landlords. Unresponsive to tenant problems. A caution to renters. Thanks for the explanation of corporate buyers. Market changes regarding those "I Buyers" were new to me and very interesting.

[@TroyFunkBroker]

Thanks for sharing

[@Sirach144]

I live in Jacksonville Florida and I can tell you right now. These prices aren’t coming down that much. When I go on Zillow and realtor, they’re pretty much the same price they were two months ago. They might not be selling, but they’re still sitting at the same price

[@TroyFunkBroker]

Good feedback - thanks for sharing

[@xxlegend420xx4]

Yeah, what about one year ago?

[@Sirach144]

@@xxlegend420xx4 same

[@brianlopez8855]

They will start to sell at discounted prices from 2023 but will not want to let on. Those who have to move will, others will wait. Same happening now in the UK.

[@SpiritualDeclutter]

People still clinging onto their houses but if more and more homes hit market there will be more competition. Those who need to sell will discount their Homes.

[@lizardking8388]

Buying now is like buying in 2008. Prices are just starting to fall and remember, back then house prices continued to fall until 2012. They only bottomed because the Fed and government poured on massive amounts of printed dollars. They will not be able to do that this time because inflation is at a 40 year high. I would at least wait until the recession is over before looking to buy. Your job may be the next one on the chopping block and you don't want to be holding a huge mortgage when that happens.

[@TroyFunkBroker]

Thank you for sharing - I understand those of us that experienced 2008 see the same patterns. Except in 2008 we had a Over-Supply of inventory (speculation buyers that could not qualify for the mortgages). This time we still have an inventory shortage .. it's the "affordability" of buying that is causing adjustments (my opinion) as I have so many buyers I am working with that are still coming to retire to Florida to buy to get out of the cold (regardless of the economy). As such, I believe many parts the country will see massive reductions and some areas will not be impacted as much (especially certain areas of Florida).

[@noahschechtel8979]

All true!! Thanks for your brilliant insights!!

[@RealLifeFinance]

I agree. Big recession, inflation we get more declines 10%-20% more from here. Its possible its a minor recession and prices stay flat for a couple years

[@lizardking8388]

@@RealLifeFinance A minor recession is not possible. There is way too many dollars in the system and they absolutely have to be removed or there will be hyper-inflation. A huge recession is a mathematical certainty. The pundits will down play this to reduce widespread panic.

[@louismartinet882]

Now is not the time to buy, I would even warn cash buyers to wait. In 6 months we will have clarity in the market. Non luxury prices will settle around $100. A square foot. Be smart not impulsive.

[@pattyflynn3222]

As an owner of a Florida Condo, this information was very comforting! I actually Love my condo, primary home! For a while now, I’ve considered selling to avoid property values decreasing. Your information relieved that pressure! It will Always be sellable, due to Desire! For now I’ll enjoy my home…Comfort Zone! You’re info was extremely realistic. And much needed. Your description of lowering home prices, was surprisingly comforting! Thank You for your Wise Outlook and realistic vision!!! 😃💵😌

[@TroyFunkBroker]

Thank your for comments

[@timcrain2844]

I live in central Florida and bought a 3/2 with a screen enclosure and a pool, closed October 1st. It sold in 2018 for 175K, we paid 300K. I am 20 minutes outside the villages, so I am not to worried about prices dropping in this area. We build 15 new houses a day in the villages and they are all sold before the first shovel hits the dirt. They are all 3/2’s and go for around 500K.

[@TroyFunkBroker]

The Villages is a thriving market in Florida. Retirees have the cash to buy now.

[@sdavidjohnson44]

Thankyou Troy for the informative video on Florida real estate. I am 78 and my wife and I live in a home in Central Connecticut we have owned for 35 years. We love our home, but it is quite large, and I would love to live in Florida. I do my own yardwork and snow removal. Lots of trees here so plenty of leaves in the Fall. The market here is strong as most houses that go on the market get snapped up quickly. I will check your website as i would be interested in a small newer ranch in a safer gated community.

[@TroyFunkBroker]

Stephen - Thank you for your reply. I love CT (had a home in Simsbury) as my brother lives there. Moving to Florida could be a nice change. My website should be helpful to you and hoping we eventually meet. - Best

[@mauriz8120]

its been my dream to move to florida but with the tripling of prices (which will take a few years to get back to its trendline) along with the rediculous traffic, my dream is not vivid anymore. I am getting turned off by the real estate pricing and traffic.

[@TroyFunkBroker]

Thanks for sharing

[@RedtideFla]

Bad government, been here since 96. It's a rich man's state

[@RK-de5wg]

I wasn’t going to watch this video, but decided to anyway. I am not in the real estate market, but I am a business owner who sells big toys to people, and I have been saying this for awhile. When the interest rates go up, it slows people’s buying power, which will in return lower prices. It doesn’t matter if you’re rich, middle class, or poor. It doesn’t discriminate. Thanks for sharing your knowledge.

[@TroyFunkBroker]

Thank you for your feedback.

[@marieruotolo2527]

It's outrageous the prices for the shit holes here in Florida. Rent is through the roof for dumps as well!

[@TroyFunkBroker]

Many agree with you - thanks for sharing

[@danieldesimonedanny1827]

I'll add what skyrocketed our home $$$ was 3 years of record low inflation && low interest rates. The investors where slow to recognise the trend due to our media. Huge profits where made by builders for a short time.

[@lylesmith3451]

Also, florida became desirable during Covid. Thank god for DeSantis

[@boomersD9CAT]

Great information! Snowbird here with a home in SW Florida that I use for 2-3 months. HOA fees on my house are 925$ per month. The fees are high because the golf course is hemorrhaging money, and all the maintenance is done in house vs using an outside landscaping/maintenance firm. I bought the place during a downturn, but I would never buy on a golf course again without doing some due diligence on the financial status of the golf course.

[@TroyFunkBroker]

Good Insight - the situation you described is common for many HOA developments in Florida. I have even seen Special Assessments on free and clear properties, cause the owner to face foreclosure. You have given me an idea for a future video - Thank You!

[@clasreid2571]

You may be better off giving that property away.. $925/monyh in fees is criminal... They will never find another to agree to such injustice. Get out asap

[@boomersD9CAT]

@@TroyFunkBroker Thank you for your response, and I’m happy to hear I’m not the only homeowner dealing with this . In 2019 The board of directors came up with a 3 million dollar plan to build a high end restaurant, and a new clubhouse as a way of generating more revenue. The problem was/is that there’s 80-90 other restaurants within a 5-8 mile radius, and the restaurant would have to be 2 stories in order to have enough parking spaces. Needless to say that plan(fools errand)didn’t go over too well, and was scrapped after being voted down by a majority of the residents. I feel bad for the 60 condominium owners who are paying 825$ a month as they’re receiving less services, and paying close to what the single family homeowners are paying. One lesson I learned from dealing with that board during the restaurant fiasco was that they didn’t like being questioned or challenged, and I got the same pushback from the property management company . One contractor bidding on a project that size is ridiculous, and not the way to do business under any circumstances.

[@TroyFunkBroker]

@@boomersD9CAT What a mess. Hoping this works out for you. Best

[@KevinNordstrom]

I'd never get an HOA period.

[@christaylor8337]

The crazy thing is, if you had bought at the absolute top in 2007, you still would have done fine ten years later and great 13 years later. I am on the sidelines, living in a mobile home until prices turn downward. I'm chunking money away and expect to be a cash buyer in a year or two.

[@TroyFunkBroker]

Thank you for sharing.

[@Brascobadboy]

You missed your chance. You just won’t dig in

[@jiho1988]

I live in Florida and we're moving out. We don't see the point in buying a home here when the home insurance industry is collapsing.

[@TroyFunkBroker]

Thank you for contributing - Working on my new video on that topic "New Cost of Insurance in Florida"

[@LlyleHunter]

They’re drawing up legislation that doesn’t solve some of the most glaring intrinsic problems. The insurance companies won’t insure homes that have roofs that are older than ten years old. I can have a steel roof put on my home that is hurricane proof up to 240 mph and with a warranty of forty years but the insurance company will insist that it be replaced after ten. Then the insurance companies complain that the roofing companies submit the proposals as damage claims. The insurance industry has made the roofing industry a cottage industry of the insurance industry and now they’re complaining about fraud.

[@greateststory12]

You aren't buying because of insurance? Sure..Oklahoma is cheap!

[@jeffreytalbot3431]

I lived lived in Florida since 85 and owned home since 90. I can say this, the downfall of this state will be property insurance. As someone said “your leaving Florida over insurance.” To whom wrote that, I live two miles from gulf on Pinellas ridge. No way we will flood, if we did the state would go under. Saying that, my neighbors insurance went from $3,000/year to $5,000/year to over $10,000 this year. What will it be next year? Reports are 40-50% which would be $15,000/year. Why would anyone invest at a young age and throw $10,000-$15,000 per year. It makes no sense. Additionally, insurance companies can clawback loses from property losses thru car insurance premiums. My car insurance went up 60% and we are “safe” drivers classified by the state. This whole situation is a freaking disaster! Peace

[@geraldsmith3423]

@@jeffreytalbot3431 Become self insured(home).

[@jquint57]

Prices have barely begun to drop. Long way to go.

[@TroyFunkBroker]

It would seem logical ... yet I believe every market will be different based on desirability - there is still a lot of upward pressure (retirees, cash buyers moving here) to the West Coast of Florida (to be close to a beach (not hurt by the hurricane).

[@mikeygROCNY]

@@TroyFunkBrokerThat’s a really great selling point I didn’t think of. Live in new Tampa and looking to sell this January. I’m afraid I’ll loose money though because I just bought in Sept… I have to move because of a new job in another state though…

[@gaila.8830]

Thank you for this very informative and comprehensive video 😊 One thing for sure, if I ever get extra money to buy in Florida, will gladly make business with you as you are very knowledgeable about what's going on throughout, evolution of market, and I will definitely appreciate having someone like you on my side, my kind of people, the ones that know their business. You are not just a "vendor" in a hurry to sell something without considering your client. Thank you again ☺️

[@TroyFunkBroker]

You made my day - Thank you for the kind words. Hope we can meet one day.

[@edwardsierra4709]

Obviously you don't read well. I said what is worth 200 is now selling for 700

[@fabianmaly3809]

I’m from West Palm Beach , sold my house for $470k September 2022 , house just across the street , was sold February 2023 for $500k , some houses went down 10k , now I’m buying for $499k , I was renting for $2800 insane , that will be my mortgage now , concluding: some areas like this one won’t go down , market still hot , people from NY still came to buy cheap here compared to NY

[@fabianmaly3809]

My life is here , I won’t move , business is here !! I’ll stay , but question is : who can afford to buy a 1/2 millón dollars house without $200k savings like I did ? Who can pay $5k monthly? CRAZY

[@fabianmaly3809]

THIS IS NOT GOING DOWN , THIS WILL STAY , REMEMBER

[@abelinenoncent8540]

Hi Troy thank you for everything you doing to help help home buyers

[@jamesgaffney7591]

Good input. Also. ..Todays market is unrelated to 2008. A dozen reasons why but interesting to see so many people hanging on to compare that era. Also the Florida market in most areas values are higher today than last December. (Ask) Prices drop but values are still strong year over year.

[@TroyFunkBroker]

Thanks you for sharing.

[@SupraRyu]

Considered FL for a few years now, even before COVID, but property insurance is a serious issue with no solution..

[@TroyFunkBroker]

I created a video on Florida Insurance, showing my new homeowners insurance. Quick notes, Yes ... Insurance has/is going up, yet overall our property taxes are lower than many other parts of the country. Thank you for your comment.

[@RIpped_407]

Prices will fall as long as folks continue to not qualify for homes at their current value. Where someone could once qualify for a 300k/400k home. The rates changed the game. Jumping from 3 percent to 6/7 percent is about 50.00 more per month per .25 of a percentage point. So for the sake of argument. 100.00 more per 1.0 percent per month on your mortgage. Until rates drop. Prices will have too correct or homes sales new or used will continue to fall.

[@daverave5743]

crap terrible time to buy. wish you were honest enough to say so.

[@TroyFunkBroker]

Thanks for sharing - Every market and situation is different. I think we can agree the party is over.

[@rameye]

great content-- ive been shopping central florida (villages and surrounding areas) prices just moving a tiny bit. Great content and presentation, much appreciated.

[@TroyFunkBroker]

Thank You -

[@MauiMikes]

How refreshing! Sounds like honesty is making a comback to the Real Estate market also. Thanks for the video. Ill start searching again.

[@TroyFunkBroker]

Thank you

[@geniej9093]

Excellent insight for me as a seller in Florida. Not on the market as yet but season is upon us. I've enjoyed a reality check here.

[@speedracer2336]

High interest rates and skyrocketing home insurance increases are driving this!

[@TroyFunkBroker]

Thanks for sharing. Check this out: kzbin.info/www/bejne/pqnMoJ1sodmipZY

[@davemetz7368]

After listening to you, and I consider myself pretty good at reading people, if I came to you wanting to buy a particular house for lets say....$300,000...simply because I liked it, you strike me as the kind of person who would say to me, " Heh, I know of a much nicer house you'd like for $50,000 less ". You strike me as honest person. Keep on keeping on and God Bless You & Merry Christmas. The world needs more people like you.

[@TroyFunkBroker]

Thank you Dave ... Appreciate the feedback.

[@bubbajones4522]

My rentals are paid for so I don't care about property values because I'm not selling. In fact I would welcome a price drop because taxes are based on value. Also, if prices drop it would be a buying opportunity. My rents are calculated by HOA dues, taxes and HO6 insurance plus my $1,000 profit per unit. This still puts my units $200-$300 below market rates.

[@TroyFunkBroker]

Good Insight - thanks for sharing.

[@aprilleverette2513]

I live p.c. and prices are not coming down insurance is crazy if you can get it, and the road infrastructure suck.

[@TroyFunkBroker]

I agree - thanks for sharing.

[@brianlopez8855]

Hi. 40 years in the property game here too, UK. House prices are now sagging from the start of 2022. They are not worth buying yet for rentals. Same happened in the UK in 2001 to 2005. Then from 2008 to 2013. And now from 2021 to.... ? Commercial space for storage rentals is a better bet here now. That said the Rubber Boat Illegals are helping to keep demand up for residential lets !

[@TroyFunkBroker]

Brain - thank you for sharing. I agree the storage rentals have been a great investment. It amazes me how people pay a fortune to store stuff they don't use. I have never seen a storage place go out business in Florida.

[@AG-sd9lt]

I appreciate you talking about (albeit breifly) the iBuyers - wish more realtors would talk about these corp & youtube investors are a HUGE reason why prices skyrocketed - lots of 'em went on unemployment, didn't pay their own rent, and turned around and either flipped or house hacked, then rented out for higher prices to compete with the Airbnbr's, without wanting to lower the prices (the younger generation is doing this, los of talk about it in the forums and private communiies) Also, developers would build out communities, then turn around and say they're no longer selling the houses but renting them out, leaving so many potential home buyers scrambling to get their next place. Many realtors don't talk about these issues, because they don't care about who buys, as long as they get their 3%. I believe Florida should begin to charge a vacancy tax, to start with, plus impose a limit on landlordship of single family homes. I'm a FL native, who was about to move back east after finishing college, and then cvoid happened and everything else. Now it's more expensive to live in Florida than where I'm at now in Los Angeles. I know for a fact a contingent of specific KZbin Influencers were a large percentage of those who "house hacked" and helped push up prices. Nothing wrong with a free market, but there ought to be laws against holding a portfolio of 200 homes - corporate or individual. There are other ways to make money - and I do believe realtors should have a moral obligation to disclose who the offers are coming from, whether it's a corporation or a potential "investor", when working with a single family home seller. My entire generation is screwed, and I can't even move back to my home state with the prices right now.

[@TroyFunkBroker]

Thank you for your feedback.

[@the-andre]

Q- if prices fall, does that mean a decrease in property taxes?

[@TroyFunkBroker]

Interesting question

[@the-andre]

@@TroyFunkBroker Really would like to know. (Might be a selling point!)

[@TroyFunkBroker]

@@the-andre Reflecting on what happened last time - The property appraiser had to adjust property assessed values. I will need to do some research on how that may adjust their income/expenses. Appreciate you feedback as this helps me to create future videos (after I do some homework).

[@the-andre]

@@TroyFunkBroker I appreciate your diligence!

[@kylefrisco8664]

The county property appraiser will reduce values which will reduce the property taxes but only if they see the sale prices coming in under their assessment values and they already assess around 80% of real market value so it would take a lot for this to happen and I don’t see it taking place this time around.

[@niteman]

Again thank you for a very informative an update on the current market conditions really appreciate it thanks I didn’t even consider! Will definitely look you up if there’s a move to Florida!

[@TroyFunkBroker]

Thank you

[@dsmith4140]

Don’t catch a falling knife. It’s going down. Rent and wait. You will feel like crap if you go underwater!

[@midnightrunner684]

When I drove 18 wheeler back in the 1990's .Lakewood Ranch didnt even exist .it was still all cow pastures and swamp land off of Sr-70

[@bobscruggs8886]

When the locals can't afford a house, something is wrong !

[@TroyFunkBroker]

I agree

[@hjcip3934]

Thanks for making this. Actually, the interest rates tripled. I watched the market go from a seller's market to a buyer's market overnight in New York and then a year later, I watched it happen in Florida.

[@lindaannventura7884]

I think you mean…from a buyers market to a sellers’ market…prices went up

[@tadroid3858]

I review appraisals for a bank. In my experience the sales have slowed dramatically, and the escalation clauses have disappeared. It's a good time to get a HELOC even if you don't use it right away. Sales within the previous year are still high.

[@TroyFunkBroker]

Thank you of your contribution.

[@lurlenejones456]

Wow! Didn't know about i-buyers.

[@kennykeleher4128]

Good info Troy, When the bubble blows( 2 plus years) I will be there with cash.

[@TroyFunkBroker]

Thank you for your comments. When/If the market blows, will see the return of the iBuyers and Hedge Funds.

[@1Skeptik1]

More: 1. There is no upside in renting, not today, tomorrow, or 50 years ago. 2. Affordability? Falling house prices benefit a cash buyer but rising interest rates make housing less affordable for a mortgage buyer. 3. Inflation? Over the past 50 years, the FED devalued the dollar on average by about 5% yearly (I'm 71 and I lived it). That means the price of a properly maintained house will double every 11 years (I did not say the value of your home increased). How much will the prices fall? Consider - A place sold for $300,000 a year ago and now will sell for $270,000 = a 10% dollar loss now add a real inflation rate of 12% (shadow stats) and we have a 22% loss of value and that is a big haircut. How much more Florida housing prices fall? IMHO not much, I live near Tampa (zip 34606) and own 6 properties. Florida gains about 800 new residents daily and I see no reason for that to change for the next several years the FED will be facing increased political pressure to pivot. Cheers!

[@TroyFunkBroker]

Great insight - Thanks for sharing

[@brian2100]

I’m still flipping and buying/ selling going strong tampa

[@ChrisAventure]

Do u continue to buy more ?

[@karltaylor3736]

moving from colorado back to Fort Myers hope you all have a great night

[@TroyFunkBroker]

Thank you for your response. Happy new year

[@namfflow]

In Naples prices have not started to drop. Unit that sold for $269,000 three years ago just sold for $520,000.

[@rosekane3834]

If you can as a seller..sit it out..I’ve seen all this many times, property is always best investment, people need a place to live

[@nenettesilver]

These big corporate real estate companies were gobbling out real estates then turn around and sell it at a much higher prices. GREED!

[@ursulamullikin4723]

Most of them just rented them out

[@lylesmith3451]

Greed? It’s called business

[@gt-c-]

** ENTIRE AMERICA IS BUILT ON GREED ! You do not like it...? go to Cuba ! **

[@TheCrazy88tony]

Thanks for the great advice & video my friend! 🤩🙌🏽🙌🏽🙌🏽🙌🏽🙌🏽

[@TroyFunkBroker]

Thank YOU!

[@johngallo4159]

I would like to eventually purchase a house in Florida but I'm a little unsure about insurance coverage, and cost been hearing very expensive

[@TroyFunkBroker]

Hi John - Attached is a video I recently completed about how much (my) insurance went up in Florida and what our some options to lower the cost. The quick notes are that is has increased a lot, yet I share some different ideas to process this and what is possible. Hope this helps. kzbin.info/www/bejne/pqnMoJ1sodmipZY

[@gt-c-]

@@bnyob3463 Agree on "property taxes" being very high! Like TX somebody has to pay for the millions of illegals that live in those two states. This is why I will ALWAYS remain only a VISITOR !

[@davidkrausell1741]

Very informative video. Thank you.

[@acpatsalides]

Prices doubled in 2 years in Naples FL, and they are not showing to many signs of declining. I mean maybe they are down a couple of %. but when a home 2 years ago was 250k and is selling for 500-550k in the last 3 months. The market would have to drop 50% just to reset the last 24months of growth. Im not sure that will happen, and even if it did will only reset it to 24 months ago...

[@TroyFunkBroker]

Good insight - Thank you for sharing. Not to mention the amount of inventory just went down in Naples and Ft. Myers (supply and demand). As such, I don't think Naples will be going down anytime soon.

[@gt-c-]

** It will happen - have patience! The country is depleted of money...and recession will be BRUTAL and LOOOONG ! **

[@mellie1022]

Same issue I'm having in ocala.. doubled in 2 years. High price and high rate means I am priced out of all of homes that I want

[@Brascobadboy]

Agreed. This market is fine

[@bjb2099]

If you are in the market for a house and can afford it and find one you like just buy it....I have owned real estate in California and Florida throughout my lifetime and seen ALOT of ups and down.

[@SoulfulVeg]

My house is under contract. I took a significant price reduction after no offers came on my updated bungalow in a cute neighborhoodin St Pete. I'm going to roommate with my friend in Atlanta and see if I can buy a modest condo for cash or small mortgage within the next 12 months.

[@TroyFunkBroker]

Congratulation on your sale.

[@sku32956]

Its all about the area like the topic is saying ,the really HOT markets are going to gave back the most really simple to a degree . It's still about the right location forget the short term downs and ups ,yes timing the buy to the right time is always a great feeling .Normal selling a house is around 4 to 6 months now that has not been the case since the market went hot ,here the market is around 2 months to sell .

[@TroyFunkBroker]

Thank you for sharing.

[@flashwreckerservicellc72]

Thank you 🙏🏻 that was excellent information as I’ve been scouring the internet each night trying to find property to get back to my home state of Florida. Did I understand that you cover the whole state of Florida? I’m wanting a rural area near the st John’s river. At one point back in 2017 I was looking around crescent city all the way over to ocala. I will check out your website and maybe you can help me escape the sleepless nights of searching. And totally agree that in lake city where my elderly mom lives people think run down trailers on a couple areas is a gold mine, not! Lol. I am also studying for my real estate exam thru Keller Williams/Kaplan and look forward to adding on my Florida license. With that said thank you again and I will be in contact with you. Thank you, Susie

[@TroyFunkBroker]

Thank you for the kind words - Yes, I cover St. John River (I love Stuart and go there often).

[@galinakhait3115]

Zillow is the best to find the property!I always check it out!

[@angelinadrobina5037]

Excellent video - similar here in Hobart Tasmania - retired real estate agent here 👋👋

[@sunnybrucci3453]

Properties with Gulf access are still very expensive even after the hurricane Ian.

[@TroyFunkBroker]

Yes - the supply of inventory went down, due to the hurricane (which could actually drive prices up)

[@gt-c-]

** Must be crazy to pay a ton of money in insurance and real estate and every year be afraid that THE HOUSE WILL BE GONE several times because of HURRICANES! **

[@sunnybrucci3453]

@@gt-c- Everyone is different and it’s totally worth it to me. I enjoy the view and proximity to the beaches. Having a dock behind the house is awesome. There’s good and bad to everything. I won’t buy directly on the beach but 20 minutes is good.

[@markatraveler3238]

Thsnks for sharing this video. I hear that flood and hurricane insurance are mandatory and very expensive.

[@TroyFunkBroker]

I don't flood insurance.

[@juanRodriguez-pj1gd]

Hi, I would like ti comment that I am a bit skeptical about buyers like Zillow coming back if prices drop significantly. The reason being is that as you point out, Zillow has a lot of properties for sale right now. This leads me to believe that they are going to be big loosers in this market contraction. The other aspect I would like to comment about is that prices do not coincide with the job market and family incomes. In this regard, I would expect a significant number of people will end up loosing houses within the next year or two. During last year's frenetic buying period, people were buying houses at much, much higher prices than real value of the property. Realistically speaking, not many people in Florida have jobs that allow them to pay half million dollar in mortgage plus property taxes plus insurance expenses (house and vehicles) plus medical expenses plus all the other living expenses.

[@ChatGPT1111]

Not true here in Brevard County. We have thousands upon thousands of aerospace jobs at Kennedy Space Center, Patrick Space Force Base, Cape Canaveral Space Force Station, and all the DOD and Aviation related engineering jobs (Harris, Grumman, Embraer, etc) in Melbourne. Thousands of brand new homes being built here every year including right now.

[@TroyFunkBroker]

Thank you for your comments Juan - You thoughts seem logical, yet the reality is that the overall supply and demand is not dependent on just one niche buyer or seller. There have been many factors that have changed that are opening up some new opportunities.

[@dalebrownhill2540]

I don't know about your neighborhood but my neighborhood in Florida they can't build houses fast enough and they never stay on the market for more than weeks

[@TroyFunkBroker]

Thanks for sharing. Getting a lot of the same feedback all over Florida.

[@nancylpr]

I just do not understand all of these people moving here with our horribly expensive insurance. On top of that, good luck getting your insurance to cover anything if you have a loss.

[@TroyFunkBroker]

Insurance went up (a lot) - 57% increase on the insurance for my house ... yet I think the property taxes in Florida (with No State Income tax) are low, compared to similar sized areas in the US. For me, Florida is still a great choice. Thanks for sharing.

[@igorm2434]

Another broker is trying to sell the property using internet. What’s new?

[@anac3316]

Sure love more information Thank you 🙏

[@eddihaskell]

Prices for everything except the highest end properties are not declining in the Palm Beach County - Broward market. They are stable.

[@TroyFunkBroker]

Value your feedback -

[@juanRodriguez-pj1gd]

Excellent overview of market situation!!

[@TroyFunkBroker]

Thank you

[@bradward9164]

Really a gr8 piece. Thx for sharing this information

[@TroyFunkBroker]

Thank you

[@caroldrummond1389]

very informative and explained well.

[@frickinsalty2774]

I believe prices will adjust 10-15%. There will be no crash in Real estate. Most of buyers are cash buyers. Interest rates dont effect them. All Wallstreet money are pouring in to real estate

[@TroyFunkBroker]

Thank you for sharing ... I believe there is too many buyers "waiting to buy" for us to see a crash. Yes, there is also so much wall street money in real estate and real estate is a great long-term investment.

[@jjdwnbyci]

No insurance No sale

[@TroyFunkBroker]

We can get insurance in Florida - yet my insurance just went up 57% (big increase)

[@AngelMartinez-eu6nx]

Buyers market around the corner be patient

[@TroyFunkBroker]

Thank you for your response - Happy Holidays

[@atkinsjoe5754]

As long as the north east wants to move south,the market will not bust.

[@TroyFunkBroker]

Thanks you - Spot On!

[@HealthyLifestylesLiving]

Great insight and on ground analysis. Seems like it’s now or never.

[@thomasgalvano8215]

Nice video. Question. The 500k house that only appraised for the 400k and the addendum that the buyer know there’s a gap and has to come up with the 100k difference. Then the buyer also has to come up with the 20% down of the 400k the bank appraised the house for also. So they would need 180k to close plus all the other stuff??

[@TroyFunkBroker]

Good Question - You are right ... "In the Past" is could take 180K down to buy a 500K home that would only appraise for 400K to purchase a home is a low interest rate. Now you can get the 400K home with 100% financing (if you qualify), yet the rate is higher and the selection of housing better. I see this as a good time to consider buying a house.

[@thomasgalvano8215]

Thanks for the reply. Oh I did not know that 100% financing is available. I bought 2 houses in NY. 1 I live in, the other an investment. The wife and I are looking to retire in 5 yrs and buy something in Florida near the beach. I wouldn’t do the 100pct financing that’s for sure. I’m looking for a certain mortgage payment to stay in retirement budget. I’m hesitant to wait to buy. I was thinking about buying now and starting the process.

[@taffyalusa4642]

Been here 33 yrs. Isn't Florida cyclical. Bought in LWR 20 yrs ago, had a massive influx of New Jersey buyers ( builders were advertising there). Down they came, loud and flashy, 90% lasted approximately 3 yrs and back they went. Then the crash came, no one wanted all the cheap houses in Sarasota. Florida is transient, not for everyone to live here fulltime.

[@TroyFunkBroker]

Thanks for sharing and bringing many good points to light. Florida market seems to be consistently inconsistent (Cyclical)

[@michaelthompson7570]

FJB has mucked up everything he has touched,,how do we thank him ,,vote for him again and all his liberal soldiers…..

[@paulazzar8936]

Floridians are fed up with the huge influx, some are moving out

[@TroyFunkBroker]

I agree that Floridians that have lived here for some time do no welcome all the growth.

[@Bronx_Yankee]

A lot of people are escaping condos in Florida now. Champlaign Towers was a wakeup call. Investors bought my condo. I took the money and ran to Central Florida. I see too much inventory now, houses and condos

[@Yarrb53]

Great insight ! Thanks

[@Modeltnick]

Nothing dropping here South of Tampa. Roads are clogged and people keep coming.

[@chrisfrieboes4841]

Everybody knows what goes up must come down it's no new thing

[@FREEDOM195844]

I don’t see reasonable prices anywhere except maybe these huge new subdivisions. Waterfront property is expensive. In town convenient locations are still expensive etc.

[@TroyFunkBroker]

Thank you for your feedback -

[@dianaferrell6863]

It’s not coming down here in Ft Lauderdale

[@TroyFunkBroker]

Thank you for your feedback

[@ianmoss835]

I just want a little house in the town of Holiday. I hope the prices come down a little.

[@greendeane1]

Not far enough. I started in September 2022 to find a place. The biggest impediment were realtors. Most of them can't think inside the box, let alone outside.

[@TroyFunkBroker]

Knowledge is power - thanks for visiting my KZbin and your comment.

[@DS-go8mn]

Enjoyed the video but I think what's important for your viewers to know is that this is NOT a repeat of 2008 . There's not going to be a crash ... some homes in less desirable areas will take longer to sell and they may need to make some minor price adjustments. But this is still very much a seller's market. We are in the 34237 zip code which is close to the beaches of both Lido and Siesta Key and downtown Sarasota. Many of the houses are selling for half a million and more with many cash buyers. AND these are 1,200 to 1400 sq ft homes built in the late 50s or early 60s. An older non remodeled home on our street was just went on the market for 500,000. Anyway, happy holidays to all.

[@TroyFunkBroker]

Thank you for sharing - I agree completely.

[@greatrunner7665]

How you know?😂😂😂

[@brianseas8903]

2020-2022: 60-100% inflated prices are now seasonally dropping by 5-15%. big whip

[@TroyFunkBroker]

That about sums it up right now - Thanks for sharing.

[@Lamasbella49]

So let’s talk about the cost home insurance in Florida.

[@TroyFunkBroker]

Good Idea - check this out: kzbin.info/www/bejne/pqnMoJ1sodmipZY

[@amieerothrock1839]

Good video Troy, well done.

[@TroyFunkBroker]

Thanks 👍

[@debrafirestone861]

That’s what caused the problem

[@blade9000100]

I'm thinking about buying this summer in Florida

[@TroyFunkBroker]

Meet me at www.TroyFunk.com - I have some opportunities for you

[@5026944]

It’s all coming crashing down. It’ll be like 2008 all over again. It’s just a matter of time.

[@TroyFunkBroker]

Thanks for sharing - many believe as you do.

[@MasterCarguy44-pk2dq]

Prices are going up still in most areas on south and east coast

[@huynhpham2673]

Thank you very much for the helpful informations

[@TroyFunkBroker]

Thank you for the kind words.

[@franklinboet558]

The Miami market is still hot.

[@TroyFunkBroker]

Thanks for sharing

[@N1mr]

Misleading title In your area maybe but Troy treasure coast prices have been steadily rising with zero inventory and decreasing unemployment

[@panchothemonkey]

Here in Miami they're still going up.

[@TroyFunkBroker]

Right ... many resources confirm this. Miami is a destination location.

[@mikeforte7585]

There hasn't been much of a decline in the Orlando area...prices are still high...rents are also high.....people haven't stopped moving here ...some sanity has returned to the market but the low prices for houses and reasonable rents are gone forever..

[@TroyFunkBroker]

Thanks for sharing. Getting the same feedback all over Florida residences "Prices are not falling where I live"

[@marthathomas4636]

I'm Trading to buy a home in Miami. My broker suggested to pay extra to be able to lower de interest %. Is that a new trick from the banks?. Thanks

[@TroyFunkBroker]

Yes ... buying down the interest rate is becoming common.