Prices are dropping, listings are starting to last a little longer. I believe the current market has fallen down and is heavily labored at this point. It'll be crickets by Labor Day.
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39
Beach Fanatic
Prices are dropping, listings are starting to last a little longer. I believe the current market has fallen down and is heavily labored at this point. It'll be crickets by Labor Day.You think in the near future we will be having an 08, folks bailing on their homes they overpaid for?
Beach Fanatic
You think in the near future we will be having an 08, folks bailing on their homes they overpaid for?Not if rents keep going up.
Beach Fanatic
Bay County real estate expects shift to a 'buyers market'
PANAMA CITY, Fla. (WMBB) — Local residents who are tired of paying those high rent prices may be thinking about buying a house. Real estate agents say potential buyers have more choices these days.…
www.mypanhandle.com
SWGBAuthor
You think in the near future we will be having an 08, folks bailing on their homes they overpaid for?
No. Thanks to the updated lending regulations people have skin I'm this game. I see a huge glut of short sales coming. Realtors just love those.
SoWal Insider
Prices are dropping, listings are starting to last a little longer. I believe the current market has fallen down and is heavily labored at this point. It'll be crickets by Labor Day.Also can’t wait for the car market to stabilize and buyers remember which sellers were dealerships and which ones were stealerships.
Beach Lover
Also can’t wait for the car market to stabilize and buyers remember which sellers were dealerships and which ones were stealerships.In a free market stealerships would go out of business.
SoWal Insider
In a free market stealerships would go out of business.
Beach Fanatic
Also can’t wait for the car market to stabilize and buyers remember which sellers were dealerships and which ones were stealerships.The Tesla model of direct orders is changing the industry. Ford is going to it. Dealers are freaking out.
Beach Lover
Prices are dropping, listings are starting to last a little longer. I believe the current market has fallen down and is heavily labored at this point. It'll be crickets by Labor Day.You are absolutely right. It will be interesting to see how far prices fall. On a separate note, just received the proposed property tax for Walton Co. The appraised value of our home increased a lot so more money for taxes. I hope everyone who bought homes at ridiculous prices are happy now.
Beach Lover
You are absolutely right. It will be interesting to see how far prices fall. On a separate note, just received the proposed property tax for Walton Co. The appraised value of our home increased a lot so more money for taxes. I hope everyone who bought homes at ridiculous prices are happy now.To much money in the system causes that.
SWGBAuthor
You are absolutely right. It will be interesting to see how far prices fall. On a separate note, just received the proposed property tax for Walton Co. The appraised value of our home increased a lot so more money for taxes. I hope everyone who bought homes at ridiculous prices are happy now.
Prices won't tank, but a lot of people are suddenly realizing they didn't cash in their lottery ticket at the right time. There's definitely some hold out hopefuls based on new listings, but there's a lot of bored Realtors out there.
Regarding taxes, we got our trim notice today too, not a bill folks don't freak out. It shows if the budget stays the same my taxes go below a grand a year, and while I'd love to throw that down at Thanksgiving dinner, I'm good with an increase to provide bottom up raises that are restricted to hourly and critical county personnel. A lot of that increase will evaporate when our new residents from the last 3 years discover homestead exemptions. Ironically people who moved here from large metros and the northeast seem oblivious because they're still saving tons on property taxes.
Beach Lover
What about ongoing and new construction? For example, St Joe / WaterSound Origins is expected to complete ~1,250 homes in the next year:
263 Camp Creek
465 Naturewalk
62 Greenway
115 Longleaf
72 Pines
275 Powell
Doesn't look like it will slow down...
263 Camp Creek
465 Naturewalk
62 Greenway
115 Longleaf
72 Pines
275 Powell
Doesn't look like it will slow down...
SWGBAuthor
What about ongoing and new construction? For example, St Joe / WaterSound Origins is expected to complete ~1,250 homes in the next year:
263 Camp Creek
465 Naturewalk
62 Greenway
115 Longleaf
72 Pines
275 Powell
Doesn't look like it will slow down...
They were selling before they were CO'd. They aren't selling until completion now. JOE also has the ability to hold onto these as long as they want to. Using the largest local home builder to gauge the market is probably a losing proposition.
Beach Lover
Sales way off in the report today. Fed will raise rates again at next FED meeting, due to persistent inflation. Mortgage rates then go up and the snowball begins.
Beach Fanatic
You are absolutely right. It will be interesting to see how far prices fall. On a separate note, just received the proposed property tax for Walton Co. The appraised value of our home increased a lot so more money for taxes. I hope everyone who bought homes at ridiculous prices are happy now.I take it you aren't homesteaded
SWGBAuthor
I take it you aren't homesteaded
Shouldn't be if they rent.
Beach Lover
We don’t rent our house out and we aren’t homesteaded. Topic of discussion with my better half to decide if we want to spend more time in FL.
Beach Fanatic
We don’t rent our house out and we aren’t homesteaded. Topic of discussion with my better half to decide if we want to spend more time in FL.So the way I understand it, if you aren't homesteaded the increase in assessment is restricted to 10%. If you were homesteaded I believe the assessed value is limited to 3%.
SWGBAuthor
So the way I understand it, if you aren't homesteaded the increase in assessment is restricted to 10%. If you were homesteaded I believe the assessed value is limited to 3%.
3% is correct, but I don't believe there's any cap without homestead.
Beach Fanatic
3% is correct, but I don't believe there's any cap without homestead.I asked Gregor that and think that is what he told me.
SWGBAuthor
I asked Gregor that and think that is what he told me.
We'll run with that. Glad there's a cap for non homestead, the last two years would have bankrupted some.
Beach Fanatic
We'll run with that. Glad there's a cap for non homestead, the last two years would have bankrupted some.But it has to be reassessed at full market after it changes hands
PAPA - Palm Beach County Property Appraiser's Office
www.pbcgov.org
Beach Lover
#241
But it has to be reassessed at full market after it changes handsCorrect
PAPA - Palm Beach County Property Appraiser's Office
FS Chapter 193 ASSESSMENTS
Beach Lover
I’m confused because I just looked at our TRIM and the assessed value increased 40% from 2021 and we are homesteaded.
Beach Fanatic
I’m confused because I just looked at our TRIM and the assessed value increased 40% from 2021 and we are homesteaded.Assessed or Market Value
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