Sarasota Florida Housing Market Crash Update / Sarasota Real Estate Market Oct. 2023

[@rgizzle]

Also people aren’t selling because they have 2-3% interest on their mortgage. I can bear overpaying for a house due to appreciation, but I cannot accept paying 50%+ higher mortgage because interest rates are sky high. My goal has been to get into the southwest Florida market but I worry about the hurricanes, the insurance debacle, and HOA’s.

[@matthewjames1172]

in reality, houses are naturally depreciating liabilities.

[@livingmybestlife365]

Negative

[@matthewjames1172]

@@livingmybestlife365 wha?

[@matthewjames1172]

@@livingmybestlife365 yes, house prices are naturally negative, as they wear out; in this sense, they are very similar to cars.

[@livingmybestlife365]

@@matthewjames1172 generational wealth sir. I own several in Maryland and one in Florida. The cash I get and equity has been great for. You can not control your rent, rent constantly goes up and you have no equity. Maintenance on a paid for a house does not equate to being more than monthly rent. What do you think rent will be in another 5 years sir???? I’ll wait. My paid for homes get passed down and continue going up in value. Ownership is power in this country. People who own real estate are more wealthy than renters by far!!! Look it up for yourself. People like me thrive off of people like you with the rent mindset.

[@fxsaddles7985]

@@matthewjames1172They go up in value partially because of inflation. As the economy crashes in late 2023 and 2024, housing is going to take a BIG hit because our dollar is very inflated.

[@juniorcrandall8933]

Core around 4%, with a 2% goal. The market has a terrible track record with predicting these rate cuts. We shall see.

[@InimicusSolitus]

Some good info, thank you. We are looking into selling our Sarasota home early next year.

[@katrininsarasota]

Reach out anytime for market assessment and listing strategy

[@rooster5755]

built our house in the PRIME time...5 years ago,just before Rona and things getting nuts.Interest rate is at 3% on a 20yr and built our house/shop for $400k..been told by multiple people that if we were to sell that we could expect $600-700k!granted,we put money into it since built but nothing like this crazyness..I feel for the first time buyers,they are stuck right now

[@albertgrzybowski4601]

good info

[@katrininsarasota]

Glad it was helpful!

[@h.sanchez5347]

I aint buying nothing now, God will tell me when and how, I trust on him