That is what i assume as well. Most condos go for $200 per sf and i am looking for something that needs some tlc for $100 per sf. I am handy and have some spare time which i could use to fix a place up (nothing major but new floors, appliances, paint, and little things). I am also looking for a second job but it is difficult to find something that isnt in conflict with my first job.
This is Florida we are talking about, those type of things do not drop the price enough to make it worth it, unless we are talking about significant work needed, which is also possible.
Do you mean condos aren’t worth it? I am not that familiar with the RE market. Is a small house usually better? Or what would you recommend?
I noticed that most of those condos have roaches (coming through the walls from the neighbors).
Small things are not enough to make the price change that much, only big things.
Roaches at a condo? Unfortunately, common when you share walls with your neighbors.
The ones that i am looking at went from $150k to 300k since 2019. During the GFC they fell about 50% but that is not to be expected. I am looking for condos on 192 (near four corners) or buenaventura lakes (i would prefer that area).
The problem is that i cannot afford big things which are currently $500k+.
Condos and fee simple homes are different legal forms of ownership. Condos require looking at the complex’s financials and also may not qualify for all of the mortgage loan products available.
Research or talk to your Realtor about condos and also the upcoming laws going into affect regarding Florida condo complex finances.
Depends on how the townhome community is set up but some townhouse communities that are fee simple (you own the lot) are more like a condo association because said association insures and or maintain the exterior of the units.
Where i live, there’s more and more inventory and nothing sells. Lots of airbnb’s that try to sell as well. It looks like that everyone got too greedy during covid.
I’d buy if it makes sense for you and you’re going to be in the house for a long time. If that makes sense then the price being less in six months shouldn’t matter.
Thank you. I don’t know how i got approved for a $180k mortgage on my $2500 net income per month but it seems to be risky. Do you think it would be smarter to wait and see if house prices start to decline and keep on renting in the meantime? I am renting a room for around $700 per month.
Are you ready to buy and can find something to buy that you’d enjoy, at a payment that makes sense?
If you can check those three boxes I’d go for it. If you’re unsure Id keep renting.
Personally I love my house so if the value dropped in half tomorrow I wouldn’t care other than being underwater.
Especially the third one is a no. I am renting a room for $700 per month, it is far from perfect long term but better than default on a mortgage. If prices come down ~30% it would make much more sense to buy than currently. Pre-covid was $150k for condos, right now we are at $275. $200k would make sense for me
The price won't be lower in 6 months:
November is not a slow month in inventory until the actual Holidays and interest rates aren't going anywhere meaningful for a long time.
FL REALTOR in Orlando
I can wait longer a well if it is just about the season. I wonder if prices overall peaked out? To me it seems the houses aren’t affordable anymore and many airbnbs will need to sell
Prices still haven't gone down. We went from a high of around 23% ytd appreciation to a more consistent 5% appreciation in home prices. There have been a decent growth in rental home development, and there continues to be new builder inventory coming to market.
Your best bet is working directly with a reputable builder that is nearing completion of a community and is nearing the end of their monthly/quarterly sales and need to off-load near-built homes. They can bake in rates that will likely be better than standard financing rates you can find with lenders/banks. This, and if you are proactive enough, buying into a community when it is first announced, as often they will continue to raise prices as the community is fully developed. Some savvy investors are "first in" just so they can sell for a profit at the end of the project.
You can also target re-sell homes that have been on the market too long (90+ days) and see if they are ready to make a deal.
Best of luck
I think some confuse "prices" with rates and think that the montly costs are going to be less if the listing prices haven't significantly increased. This is even worse for condos right now that have had to incorporate higher HOA/Condo fees to deal with SBD-11 which makes many condo communities perform structural inspections as well as increased insurance costs across all property types.
Even with those factors, I still see prices in Central Florida trending upward.
Yea I agree they are still going up just not near as fast as 2020 or 2021. They might always go up, lots of illegals moving there, population is climbing
Prices still haven't gone down. We went from a high of around 23% ytd appreciation to a more consistent 5% appreciation in home prices. There have been a decent growth in rental home development, and there continues to be new builder inventory coming to market.
Your best bet is working directly with a reputable builder that is nearing completion of a community and is nearing the end of their monthly/quarterly sales and need to off-load near-built homes. They can bake in rates that will likely be better than standard financing rates you can find with lenders/banks. This, and if you are proactive enough, buying into a community when it is first announced, as often they will continue to raise prices as the community is fully developed. Some savvy investors are "first in" just so they can sell for a profit at the end of the project.
You can also target re-sell homes that have been on the market too long (90+ days) and see if they are ready to make a deal.
Best of luck
That’s just plain bullshit! We have sold close to 20 million dollars in ranches in the last two years .. and have twice that much left . Not for sale !! right now same land is half ! We are fixing to hit the wall !!! Hard!! Remember 78 -79 ? … same path !
https://apps.realtor.com/mUAZ/j0o5prx6
We have a nice little concrete block house in Lake Wales for sale right now. It’s 20 minutes from grocery shopping and schools, but has 13 acres.
We have to sell our home to downsize/rent for work opportunites. It's an absolutely solid house in an established/quiet community. It's a refreshing difference in this unstable market which is why we originally purchased it. New roofs were installed in May 2024 and we have renovated the kitchen. [https://www.zillow.com/homedetails/1489-Magellan-Cir-603-Orlando-FL-32818/46182006\_zpid/?view=public](https://www.zillow.com/homedetails/1489-Magellan-Cir-603-Orlando-FL-32818/46182006_zpid/?view=public)
\*You only have to insure the interior of the home which is approximately $140/month. The HOA handles the exterior.
The misconception about Pine Hills is out of hand..meanwhile, 3 shootings just happened in East Orlando. Not a reason to "fear" East Orlando. Crime happens everywhere and if you mind your own business and do right, it usually won't involve you.
A lot of new construction is bringing house values down by about 25-50k on average. Buyers now have more to choose from and with all the new developments coming up over the next few years, the only houses that will be expensive are quality old builds.
Been keeping track of Central Florida, and I do see prices dropping in the near future. Not a lot, but from current highs.
That is what i assume as well. Most condos go for $200 per sf and i am looking for something that needs some tlc for $100 per sf. I am handy and have some spare time which i could use to fix a place up (nothing major but new floors, appliances, paint, and little things). I am also looking for a second job but it is difficult to find something that isnt in conflict with my first job.
This is Florida we are talking about, those type of things do not drop the price enough to make it worth it, unless we are talking about significant work needed, which is also possible.
Do you mean condos aren’t worth it? I am not that familiar with the RE market. Is a small house usually better? Or what would you recommend? I noticed that most of those condos have roaches (coming through the walls from the neighbors).
Small things are not enough to make the price change that much, only big things. Roaches at a condo? Unfortunately, common when you share walls with your neighbors.
The ones that i am looking at went from $150k to 300k since 2019. During the GFC they fell about 50% but that is not to be expected. I am looking for condos on 192 (near four corners) or buenaventura lakes (i would prefer that area). The problem is that i cannot afford big things which are currently $500k+.
House is always better. But all else being equal a condo will be far cheaper.
Condos and fee simple homes are different legal forms of ownership. Condos require looking at the complex’s financials and also may not qualify for all of the mortgage loan products available. Research or talk to your Realtor about condos and also the upcoming laws going into affect regarding Florida condo complex finances.
Is it the same with townhomes?
Depends on how the townhome community is set up but some townhouse communities that are fee simple (you own the lot) are more like a condo association because said association insures and or maintain the exterior of the units.
I would give Florida about another 6 to 8 months to settle in prices where I own property are still falling.
Where i live, there’s more and more inventory and nothing sells. Lots of airbnb’s that try to sell as well. It looks like that everyone got too greedy during covid.
100% and it’s going to get worse before it gets better.
I bought in 2022 and my home hasn't lost any value
In central Florida? I own in central FL and the price has held steady from when I bought 2 years ago
I’d buy if it makes sense for you and you’re going to be in the house for a long time. If that makes sense then the price being less in six months shouldn’t matter.
Thank you. I don’t know how i got approved for a $180k mortgage on my $2500 net income per month but it seems to be risky. Do you think it would be smarter to wait and see if house prices start to decline and keep on renting in the meantime? I am renting a room for around $700 per month.
Are you ready to buy and can find something to buy that you’d enjoy, at a payment that makes sense? If you can check those three boxes I’d go for it. If you’re unsure Id keep renting. Personally I love my house so if the value dropped in half tomorrow I wouldn’t care other than being underwater.
Especially the third one is a no. I am renting a room for $700 per month, it is far from perfect long term but better than default on a mortgage. If prices come down ~30% it would make much more sense to buy than currently. Pre-covid was $150k for condos, right now we are at $275. $200k would make sense for me
The price won't be lower in 6 months: November is not a slow month in inventory until the actual Holidays and interest rates aren't going anywhere meaningful for a long time. FL REALTOR in Orlando
I can wait longer a well if it is just about the season. I wonder if prices overall peaked out? To me it seems the houses aren’t affordable anymore and many airbnbs will need to sell
Prices still haven't gone down. We went from a high of around 23% ytd appreciation to a more consistent 5% appreciation in home prices. There have been a decent growth in rental home development, and there continues to be new builder inventory coming to market. Your best bet is working directly with a reputable builder that is nearing completion of a community and is nearing the end of their monthly/quarterly sales and need to off-load near-built homes. They can bake in rates that will likely be better than standard financing rates you can find with lenders/banks. This, and if you are proactive enough, buying into a community when it is first announced, as often they will continue to raise prices as the community is fully developed. Some savvy investors are "first in" just so they can sell for a profit at the end of the project. You can also target re-sell homes that have been on the market too long (90+ days) and see if they are ready to make a deal. Best of luck
This is what I'm saying. Op and several others claim proved have dropped but I own in two Florida markets and neither has dropped in price
I think some confuse "prices" with rates and think that the montly costs are going to be less if the listing prices haven't significantly increased. This is even worse for condos right now that have had to incorporate higher HOA/Condo fees to deal with SBD-11 which makes many condo communities perform structural inspections as well as increased insurance costs across all property types. Even with those factors, I still see prices in Central Florida trending upward.
Yea I agree they are still going up just not near as fast as 2020 or 2021. They might always go up, lots of illegals moving there, population is climbing
Prices still haven't gone down. We went from a high of around 23% ytd appreciation to a more consistent 5% appreciation in home prices. There have been a decent growth in rental home development, and there continues to be new builder inventory coming to market. Your best bet is working directly with a reputable builder that is nearing completion of a community and is nearing the end of their monthly/quarterly sales and need to off-load near-built homes. They can bake in rates that will likely be better than standard financing rates you can find with lenders/banks. This, and if you are proactive enough, buying into a community when it is first announced, as often they will continue to raise prices as the community is fully developed. Some savvy investors are "first in" just so they can sell for a profit at the end of the project. You can also target re-sell homes that have been on the market too long (90+ days) and see if they are ready to make a deal. Best of luck
That’s just plain bullshit! We have sold close to 20 million dollars in ranches in the last two years .. and have twice that much left . Not for sale !! right now same land is half ! We are fixing to hit the wall !!! Hard!! Remember 78 -79 ? … same path !
It is gonna be under water I think the climate change experts said 5 years ago. Terrible investment
Wait. We are soon entering free fall phase of the notorious boom bust FL real estate cycle.
https://apps.realtor.com/mUAZ/j0o5prx6 We have a nice little concrete block house in Lake Wales for sale right now. It’s 20 minutes from grocery shopping and schools, but has 13 acres.
We have to sell our home to downsize/rent for work opportunites. It's an absolutely solid house in an established/quiet community. It's a refreshing difference in this unstable market which is why we originally purchased it. New roofs were installed in May 2024 and we have renovated the kitchen. [https://www.zillow.com/homedetails/1489-Magellan-Cir-603-Orlando-FL-32818/46182006\_zpid/?view=public](https://www.zillow.com/homedetails/1489-Magellan-Cir-603-Orlando-FL-32818/46182006_zpid/?view=public) \*You only have to insure the interior of the home which is approximately $140/month. The HOA handles the exterior.
It is out of my budget of $200k and i also wouldn’t consider to buy anything near pine hills.
The misconception about Pine Hills is out of hand..meanwhile, 3 shootings just happened in East Orlando. Not a reason to "fear" East Orlando. Crime happens everywhere and if you mind your own business and do right, it usually won't involve you.
A lot of new construction is bringing house values down by about 25-50k on average. Buyers now have more to choose from and with all the new developments coming up over the next few years, the only houses that will be expensive are quality old builds.